FLMX vs. BITI

Last updated Jul 14, 2026

FLMX (Franklin FTSE Mexico ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FLMX is a Latin America Equities fund tracking the FTSE Mexico RIC Capped Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, FLMX returned 8.67%/yr vs -30.65%/yr for BITI. At a correlation of -0.26, they often move in opposite directions. FLMX charges 0.19%/yr vs 1.03%/yr for BITI.

Performance

FLMX vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Mexico ETF (FLMX) 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, FLMX achieves a 8.80% return, which is significantly lower than BITI's 28.75% return.

FLMX

• 1D: -1.04%
• 1M: -4.34%
• 6M: 4.69%
• YTD: 8.80%
• 1Y: 27.96%
• 3Y*: 8.67%
• 5Y*: 12.77%
• 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)

FLMX vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLMX Franklin FTSE Mexico ETF	8.80%	53.62%	-28.45%	39.35%	9.21%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between FLMX and BITI is -0.31, 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	-0.31
Correlation (3Y) Calculated over the trailing 3-year period	-0.25
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.26

Return for Risk

FLMX vs. BITI — Risk / Return Rank

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

FLMX

FLMX Risk / Return Rank: 47
FLMX Sharpe Ratio Rank: 46
FLMX Sortino Ratio Rank: 47
FLMX Omega Ratio Rank: 44
FLMX Calmar Ratio Rank: 50
FLMX Martin Ratio Rank: 49

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.

FLMX vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Mexico ETF (FLMX) 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.

	FLMX	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.56	-0.27
Sortino ratio: Return per unit of downside risk	1.89	2.13	-0.23
Omega ratio: Gain probability vs. loss probability	1.23	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	1.98	2.72	-0.74
Martin ratio: Return relative to average drawdown	6.59	6.78	-0.19

FLMX vs. BITI - Sharpe Ratio Comparison

The current FLMX Sharpe Ratio is 1.29, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of FLMX 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

FLMX vs. BITI - Drawdown Comparison

The maximum FLMX drawdown since its inception was -50.05%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FLMX and BITI.

Drawdown Indicators

	FLMX	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-50.05%	-92.16%	+42.11%
Max Drawdown (1Y) Largest decline over 1 year	-14.18%	-25.28%	+11.10%
Max Drawdown (3Y) Largest decline over 3 years	-31.72%	-84.63%	+52.91%
Max Drawdown (5Y) Largest decline over 5 years	-31.72%	—	—
Current Drawdown Current decline from peak	-7.52%	-85.94%	+78.42%
Average Drawdown Average peak-to-trough decline	-11.97%	-68.34%	+56.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	10.11%	-5.85%

Volatility

FLMX vs. BITI - Volatility Comparison

The current volatility for Franklin FTSE Mexico ETF (FLMX) is 6.61%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that FLMX 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

	FLMX	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	11.38%	-4.77%
Volatility (6M) Calculated over the trailing 6-month period	18.23%	34.25%	-16.02%
Volatility (1Y) Calculated over the trailing 1-year period	21.78%	44.14%	-22.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.09%	52.28%	-30.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.64%	52.28%	-27.64%

FLMX vs. BITI - Expense Ratio Comparison

FLMX has a 0.19% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

FLMX vs. BITI - Dividend Comparison

FLMX's dividend yield for the trailing twelve months is around 3.93%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%
FLMX Franklin FTSE Mexico ETF	3.93%	3.99%	3.31%	2.90%	4.22%	3.15%	1.48%	2.95%	2.51%	0.31%

Frequently Asked Questions

Can I hold both FLMX and BITI in my portfolio?

FLMX and BITI have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLMX or BITI?

BITI has higher volatility (11.38%) compared to FLMX (6.61%). In terms of maximum drawdown, FLMX dropped -50.05% vs BITI's -92.16%.

Which ETF is better, FLMX or BITI?

On 3-year performance, FLMX leads with 8.67% vs -30.65% for BITI. On fees, FLMX is cheaper at 0.19% per year. On volatility, FLMX has been the lower-risk option at 6.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLMX or BITI?

Over the 3-year period, FLMX has performed better with a 8.67% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLMX or BITI?

FLMX is cheaper with a 0.19% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 3.93% for FLMX.

What is the main difference between FLMX and BITI?

FLMX is categorized as Latin America Equities, while BITI is Cryptocurrency. FLMX tracks FTSE Mexico RIC Capped Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for FLMX and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 1.29), 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.