FIVA vs. BITI

Last updated Jul 14, 2026

FIVA (Fidelity International Value Factor ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FIVA is a Foreign Large Cap Equities fund tracking the Fidelity International Value Factor Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, FIVA returned 21.26%/yr vs -30.65%/yr for BITI. At a correlation of -0.31, they often move in opposite directions. FIVA charges 0.18%/yr vs 1.03%/yr for BITI.

Performance

FIVA vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Value Factor ETF (FIVA) 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, FIVA achieves a 14.53% return, which is significantly lower than BITI's 28.75% return.

FIVA

• 1D: -1.03%
• 1M: -0.47%
• 6M: 10.47%
• YTD: 14.53%
• 1Y: 34.48%
• 3Y*: 21.26%
• 5Y*: 13.43%
• 10Y*: —

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

FIVA vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FIVA Fidelity International Value Factor ETF	14.53%	45.83%	2.53%	20.38%	6.66%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between FIVA and BITI is -0.37, 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	-0.37
Correlation (3Y) Calculated over the trailing 3-year period	-0.28
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.31

Return for Risk

FIVA vs. BITI — Risk / Return Rank

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

FIVA

FIVA Risk / Return Rank: 80
FIVA Sharpe Ratio Rank: 85
FIVA Sortino Ratio Rank: 85
FIVA Omega Ratio Rank: 81
FIVA Calmar Ratio Rank: 73
FIVA Martin Ratio Rank: 77

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

FIVA vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Value Factor ETF (FIVA) 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.

	FIVA	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.56	+0.61
Sortino ratio: Return per unit of downside risk	3.01	2.13	+0.89
Omega ratio: Gain probability vs. loss probability	1.38	1.26	+0.12
Calmar ratio: Return relative to maximum drawdown	2.96	2.72	+0.24
Martin ratio: Return relative to average drawdown	11.54	6.78	+4.76

FIVA vs. BITI - Sharpe Ratio Comparison

The current FIVA Sharpe Ratio is 2.16, which is higher than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of FIVA 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

FIVA vs. BITI - Drawdown Comparison

The maximum FIVA drawdown since its inception was -39.76%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FIVA and BITI.

Drawdown Indicators

	FIVA	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-92.16%	+52.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-25.28%	+13.57%
Max Drawdown (3Y) Largest decline over 3 years	-14.77%	-84.63%	+69.86%
Max Drawdown (5Y) Largest decline over 5 years	-28.70%	—	—
Current Drawdown Current decline from peak	-1.21%	-85.94%	+84.73%
Average Drawdown Average peak-to-trough decline	-7.69%	-68.34%	+60.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	10.11%	-7.11%

Volatility

FIVA vs. BITI - Volatility Comparison

The current volatility for Fidelity International Value Factor ETF (FIVA) is 5.41%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that FIVA 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

	FIVA	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	11.38%	-5.97%
Volatility (6M) Calculated over the trailing 6-month period	13.65%	34.25%	-20.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	44.14%	-28.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.44%	52.28%	-35.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.92%	52.28%	-34.36%

FIVA vs. BITI - Expense Ratio Comparison

FIVA has a 0.18% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

FIVA vs. BITI - Dividend Comparison

FIVA's dividend yield for the trailing twelve months is around 2.63%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%
FIVA Fidelity International Value Factor ETF	2.63%	2.68%	3.52%	3.63%	3.62%	3.76%	2.46%	3.61%	3.28%

Frequently Asked Questions

Can I hold both FIVA and BITI in my portfolio?

FIVA and BITI have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIVA or BITI?

BITI has higher volatility (11.38%) compared to FIVA (5.41%). In terms of maximum drawdown, FIVA dropped -39.76% vs BITI's -92.16%.

Which ETF is better, FIVA or BITI?

On 3-year performance, FIVA leads with 21.26% vs -30.65% for BITI. On fees, FIVA is cheaper at 0.18% per year. On volatility, FIVA has been the lower-risk option at 5.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIVA or BITI?

Over the 3-year period, FIVA has performed better with a 21.26% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIVA or BITI?

FIVA is cheaper with a 0.18% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 2.63% for FIVA.

What is the main difference between FIVA and BITI?

FIVA is categorized as Foreign Large Cap Equities, while BITI is Cryptocurrency. FIVA tracks Fidelity International Value Factor Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.18% for FIVA and 1.03% for BITI.

Which has better risk-adjusted returns?

FIVA currently has the higher Sharpe Ratio (2.16 vs 1.56), 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.