FEBU vs. BITI

Last updated Aug 1, 2026

FEBU (AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FEBU is a Defined Outcome fund actively managed by Allianz, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. FEBU is actively managed, while BITI is passively managed. Over the past year, FEBU returned 14.95% vs 56.28% for BITI. Their -0.45 correlation means they have often moved in opposite directions in the past. FEBU charges 0.74%/yr vs 1.03%/yr for BITI.

Performance

FEBU vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEBU achieves a 6.95% return, which is significantly lower than BITI's 25.22% return.

FEBU

• 1D: 0.69%
• 1M: 0.09%
• 6M: 5.67%
• YTD: 6.95%
• 1Y: 14.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.02%

BITI

• 1D: -1.48%
• 1M: -4.03%
• 6M: 13.09%
• YTD: 25.22%
• 1Y: 56.28%
• 3Y*: -32.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITI ProShares Short Bitcoin ETF	$24.18M	$25.87M	$38.72M
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	$35.68K	$44.43K	$83.16K

FEBU vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	6.95%	10.69%
BITI ProShares Short Bitcoin ETF	25.22%	7.42%

Correlation

The correlation between FEBU and BITI is -0.46, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.46
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	-0.45

Return for Risk

FEBU vs. BITI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FEBU

FEBU Risk / Return Rank: 58
FEBU Sharpe Ratio Rank: 56
FEBU Sortino Ratio Rank: 53
FEBU Omega Ratio Rank: 53
FEBU Calmar Ratio Rank: 65
FEBU Martin Ratio Rank: 65

BITI

BITI Risk / Return Rank: 51
BITI Sharpe Ratio Rank: 51
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 62
BITI Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FEBU vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) 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.

	FEBU	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.28	+0.07
Sortino ratio: Return per unit of downside risk	1.89	1.86	+0.03
Omega ratio: Gain probability vs. loss probability	1.24	1.22	+0.02
Calmar ratio: Return relative to maximum drawdown	2.29	2.24	+0.05
Martin ratio: Return relative to average drawdown	7.87	5.45	+2.42

FEBU vs. BITI - Sharpe Ratio Comparison

The current FEBU Sharpe Ratio is 1.35, which is comparable to the BITI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of FEBU 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

FEBU vs. BITI - Drawdown Comparison

The maximum FEBU drawdown since its inception was -11.73%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FEBU and BITI.

Drawdown Indicators

	FEBU	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-92.16%	+80.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.99%	-25.28%	+19.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-1.73%	-86.33%	+84.60%
Average Drawdown Average peak-to-trough decline	-1.89%	-68.61%	+66.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	10.37%	-8.63%

Volatility

FEBU vs. BITI - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) is 2.92%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. This indicates that FEBU experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEBU	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	8.93%	-6.01%
Volatility (6M) Calculated over the trailing 6-month period	7.36%	33.35%	-25.99%
Volatility (1Y) Calculated over the trailing 1-year period	10.18%	44.25%	-34.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.48%	52.01%	-40.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.48%	52.01%	-40.53%

FEBU vs. BITI - Expense Ratio Comparison

FEBU has a 0.74% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

FEBU vs. BITI - Dividend Comparison

FEBU has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 21.80%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	21.80%	1.60%	3.91%	3.33%	0.06%
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEBU and BITI in my portfolio?

FEBU and BITI have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEBU or BITI?

BITI has higher volatility (8.93%) compared to FEBU (2.92%). In terms of maximum drawdown, FEBU dropped -11.73% vs BITI's -92.16%.

Which ETF is better, FEBU or BITI?

On 1-year performance, BITI leads with 56.28% vs 14.95% for FEBU. On fees, FEBU is cheaper at 0.74% per year. On volatility, FEBU has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEBU or BITI?

Over the 1-year period, BITI has performed better with a 56.28% return vs 14.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEBU or BITI?

FEBU is cheaper with a 0.74% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 21.80%, compared with 0.00% for FEBU.

What is the main difference between FEBU and BITI?

FEBU is categorized as Defined Outcome, while BITI is Cryptocurrency. They also come from different issuers: Allianz and ProShares. Their fees differ too: 0.74% for FEBU and 1.03% for BITI.

Which has better risk-adjusted returns?

FEBU currently has the higher Sharpe Ratio (1.35 vs 1.28), 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.