FDTX vs. BITI

Last updated Jul 18, 2026

FDTX (Fidelity Disruptive Technology ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FDTX is a Technology Equities fund actively managed by Fidelity, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. FDTX is actively managed, while BITI is passively managed. Over the past 3 years, FDTX returned 22.33%/yr vs -31.71%/yr for BITI. At a correlation of -0.34, they often move in opposite directions. FDTX charges 0.50%/yr vs 1.03%/yr for BITI.

Performance

FDTX vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Technology ETF (FDTX) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FDTX having a 23.85% return and BITI slightly higher at 24.73%.

FDTX

• 1D: -0.96%
• 1M: -10.13%
• 6M: 23.55%
• YTD: 23.85%
• 1Y: 27.40%
• 3Y*: 22.33%
• 5Y*: —
• 10Y*: —

BITI

• 1D: 0.20%
• 1M: -0.52%
• 6M: 36.51%
• YTD: 24.73%
• 1Y: 64.56%
• 3Y*: -31.71%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FDTX vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDTX Fidelity Disruptive Technology ETF	23.85%	15.25%	23.99%	13.00%
BITI ProShares Short Bitcoin ETF	24.73%	-1.76%	-62.60%	-38.78%

Correlation

The correlation between FDTX and BITI is -0.47, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.47
Correlation (3Y) Calculated over the trailing 3-year period	-0.36
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023	-0.34

The correlation between FDTX and BITI shifts across timeframes, from -0.47 (1 year) to -0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDTX vs. BITI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FDTX

FDTX Risk / Return Rank: 32
FDTX Sharpe Ratio Rank: 32
FDTX Sortino Ratio Rank: 30
FDTX Omega Ratio Rank: 31
FDTX Calmar Ratio Rank: 34
FDTX Martin Ratio Rank: 34

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 54
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 65
BITI Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FDTX vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Technology ETF (FDTX) and ProShares Short Bitcoin ETF (BITI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FDTX	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.47	-0.53
Sortino ratio: Return per unit of downside risk	1.38	2.04	-0.65
Omega ratio: Gain probability vs. loss probability	1.18	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	1.42	2.57	-1.15
Martin ratio: Return relative to average drawdown	4.19	6.36	-2.17

FDTX vs. BITI - Sharpe Ratio Comparison

The current FDTX Sharpe Ratio is 0.94, which is lower than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of FDTX and BITI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FDTX vs. BITI - Drawdown Comparison

The maximum FDTX drawdown since its inception was -27.23%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FDTX and BITI.

Drawdown Indicators

	FDTX	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-27.23%	-92.16%	+64.93%
Max Drawdown (1Y) Largest decline over 1 year	-19.38%	-25.28%	+5.90%
Max Drawdown (3Y) Largest decline over 3 years	-27.23%	-84.63%	+57.40%
Current Drawdown Current decline from peak	-13.50%	-86.38%	+72.88%
Average Drawdown Average peak-to-trough decline	-5.53%	-68.42%	+62.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.55%	10.18%	-3.63%

Volatility

FDTX vs. BITI - Volatility Comparison

Fidelity Disruptive Technology ETF (FDTX) has a higher volatility of 12.05% compared to ProShares Short Bitcoin ETF (BITI) at 10.69%. This indicates that FDTX's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDTX	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.05%	10.69%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	25.22%	34.09%	-8.87%
Volatility (1Y) Calculated over the trailing 1-year period	29.21%	44.07%	-14.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.79%	52.21%	-25.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.79%	52.21%	-25.42%

FDTX vs. BITI - Expense Ratio Comparison

FDTX has a 0.50% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

FDTX vs. BITI - Dividend Comparison

FDTX has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.59%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.59%	1.60%	3.91%	3.33%	0.06%
FDTX Fidelity Disruptive Technology ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDTX and BITI in my portfolio?

FDTX and BITI have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDTX or BITI?

FDTX has higher volatility (12.05%) compared to BITI (10.69%). In terms of maximum drawdown, FDTX dropped -27.23% vs BITI's -92.16%.

Which ETF is better, FDTX or BITI?

On 3-year performance, FDTX leads with 22.33% vs -31.71% for BITI. On fees, FDTX is cheaper at 0.50% per year. On volatility, BITI has been the lower-risk option at 10.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDTX or BITI?

Over the 3-year period, FDTX has performed better with a 22.33% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDTX or BITI?

FDTX is cheaper with a 0.50% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, FDTX or BITI?

BITI has the higher dividend yield at 15.59%, compared with 0.00% for FDTX.

What is the main difference between FDTX and BITI?

FDTX is categorized as Technology Equities, while BITI is Cryptocurrency. They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.50% for FDTX and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 0.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.