FTQI vs. BITI
FTQI (First Trust Nasdaq BuyWrite Income ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, FTQI returned 16.98%/yr vs -31.68%/yr for BITI. At a correlation of -0.39, they often move in opposite directions. FTQI charges 0.75%/yr vs 1.03%/yr for BITI.
Performance
FTQI vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, FTQI achieves a 13.57% return, which is significantly lower than BITI's 23.09% return.
FTQI
- 1D
- 0.09%
- 1M
- 1.97%
- 6M
- 12.76%
- YTD
- 13.57%
- 1Y
- 27.70%
- 3Y*
- 16.98%
- 5Y*
- 12.43%
- 10Y*
- 7.68%
BITI
- 1D
- -0.60%
- 1M
- 1.69%
- 6M
- 37.78%
- YTD
- 23.09%
- 1Y
- 58.82%
- 3Y*
- -31.68%
- 5Y*
- —
- 10Y*
- —
FTQI vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FTQI First Trust Nasdaq BuyWrite Income ETF | 13.57% | 12.68% | 18.30% | 23.63% | -2.19% |
BITI ProShares Short Bitcoin ETF | 23.09% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between FTQI and BITI is -0.50, 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 | -0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.39 |
The correlation between FTQI and BITI shifts across timeframes, from -0.50 (1 year) to -0.37 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FTQI vs. BITI — Risk / Return Rank
FTQI
BITI
FTQI vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq BuyWrite Income ETF (FTQI) 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.
| FTQI | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.23 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.23 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 4.46 | 2.34 | +2.12 |
| Martin ratioReturn relative to average drawdown | 21.13 | 5.81 | +15.32 |
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Drawdowns
FTQI vs. BITI - Drawdown Comparison
The maximum FTQI drawdown since its inception was -19.42%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FTQI and BITI.
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Drawdown Indicators
| FTQI | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.42% | -92.16% | +72.74% |
Max Drawdown (1Y)Largest decline over 1 year | -6.24% | -25.28% | +19.04% |
Max Drawdown (3Y)Largest decline over 3 years | -19.42% | -84.63% | +65.21% |
Max Drawdown (5Y)Largest decline over 5 years | -19.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.42% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | -86.56% | +86.43% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -68.38% | +64.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 10.15% | -8.84% |
Volatility
FTQI vs. BITI - Volatility Comparison
The current volatility for First Trust Nasdaq BuyWrite Income ETF (FTQI) is 2.86%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.74%. This indicates that FTQI 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.
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Volatility by Period
| FTQI | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 11.74% | -8.88% |
Volatility (6M)Calculated over the trailing 6-month period | 8.79% | 34.46% | -25.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.84% | 44.22% | -33.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.82% | 52.26% | -37.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.98% | 52.26% | -39.28% |
FTQI vs. BITI - Expense Ratio Comparison
FTQI has a 0.75% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
FTQI vs. BITI - Dividend Comparison
FTQI's dividend yield for the trailing twelve months is around 10.84%, less than BITI's 15.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.80% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FTQI First Trust Nasdaq BuyWrite Income ETF | 10.84% | 11.46% | 11.66% | 11.49% | 9.85% | 3.05% | 3.27% | 2.95% | 3.27% | 2.74% | 3.02% | 3.54% |
Frequently Asked Questions
FTQI and BITI have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.74%) compared to FTQI (2.86%). In terms of maximum drawdown, FTQI dropped -19.42% vs BITI's -92.16%.
On 3-year performance, FTQI leads with 16.98% vs -31.68% for BITI. On fees, FTQI is cheaper at 0.75% per year. On volatility, FTQI has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FTQI has performed better with a 16.98% return vs -31.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTQI is cheaper with a 0.75% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.80%, compared with 10.84% for FTQI.
FTQI is categorized as Nasdaq-100, while BITI is Cryptocurrency. FTQI tracks NASDAQ-100 Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.75% for FTQI and 1.03% for BITI.
FTQI currently has the higher Sharpe Ratio (2.57 vs 1.34), 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.
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