FVC vs. BITI

Last updated Jul 17, 2026

FVC (First Trust Dorsey Wright Dynamic Focus 5 ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FVC is a Hedge Fund fund tracking the Dorsey Wright Dynamic Focus Five Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, FVC returned 7.36%/yr vs -31.62%/yr for BITI. At a correlation of -0.34, they often move in opposite directions. FVC charges 0.71%/yr vs 1.03%/yr for BITI.

Performance

FVC vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) 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, FVC achieves a 11.37% return, which is significantly lower than BITI's 24.48% return.

FVC

• 1D: -1.44%
• 1M: -2.87%
• 6M: 4.92%
• YTD: 11.37%
• 1Y: 15.81%
• 3Y*: 7.36%
• 5Y*: 4.40%
• 10Y*: 7.65%

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

FVC vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FVC First Trust Dorsey Wright Dynamic Focus 5 ETF	11.37%	2.12%	12.43%	-4.59%	4.61%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between FVC and BITI is -0.42, 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	-0.42
Correlation (3Y) Calculated over the trailing 3-year period	-0.34
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.34

Return for Risk

FVC vs. BITI — Risk / Return Rank

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

FVC

FVC Risk / Return Rank: 33
FVC Sharpe Ratio Rank: 34
FVC Sortino Ratio Rank: 32
FVC Omega Ratio Rank: 35
FVC Calmar Ratio Rank: 29
FVC Martin Ratio Rank: 36

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
BITI Calmar Ratio Rank: 64
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.

FVC vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) 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.

	FVC	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.00	1.47	-0.47
Sortino ratio: Return per unit of downside risk	1.43	2.04	-0.61
Omega ratio: Gain probability vs. loss probability	1.20	1.25	-0.05
Calmar ratio: Return relative to maximum drawdown	1.19	2.57	-1.38
Martin ratio: Return relative to average drawdown	4.43	6.38	-1.95

FVC vs. BITI - Sharpe Ratio Comparison

The current FVC Sharpe Ratio is 1.00, which is lower than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of FVC 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

FVC vs. BITI - Drawdown Comparison

The maximum FVC drawdown since its inception was -30.96%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FVC and BITI.

Drawdown Indicators

	FVC	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-30.96%	-92.16%	+61.20%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-25.28%	+11.96%
Max Drawdown (3Y) Largest decline over 3 years	-14.75%	-84.63%	+69.88%
Max Drawdown (5Y) Largest decline over 5 years	-22.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.96%	—	—
Current Drawdown Current decline from peak	-7.53%	-86.41%	+78.88%
Average Drawdown Average peak-to-trough decline	-7.01%	-68.40%	+61.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	10.16%	-6.58%

Volatility

FVC vs. BITI - Volatility Comparison

The current volatility for First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) is 7.63%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that FVC 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

	FVC	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	10.76%	-3.13%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	34.28%	-19.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	44.15%	-28.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	52.24%	-35.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	52.24%	-34.49%

FVC vs. BITI - Expense Ratio Comparison

FVC has a 0.71% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

FVC vs. BITI - Dividend Comparison

FVC's dividend yield for the trailing twelve months is around 1.36%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FVC First Trust Dorsey Wright Dynamic Focus 5 ETF	1.36%	2.57%	0.78%	1.89%	1.50%	0.09%	0.21%	1.07%	0.24%	0.63%	0.67%

Frequently Asked Questions

Can I hold both FVC and BITI in my portfolio?

FVC and BITI have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FVC or BITI?

BITI has higher volatility (10.76%) compared to FVC (7.63%). In terms of maximum drawdown, FVC dropped -30.96% vs BITI's -92.16%.

Which ETF is better, FVC or BITI?

On 3-year performance, FVC leads with 7.36% vs -31.62% for BITI. On fees, FVC is cheaper at 0.71% per year. On volatility, FVC has been the lower-risk option at 7.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FVC or BITI?

Over the 3-year period, FVC has performed better with a 7.36% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVC or BITI?

FVC is cheaper with a 0.71% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 1.36% for FVC.

What is the main difference between FVC and BITI?

FVC is categorized as Hedge Fund, while BITI is Cryptocurrency. FVC tracks Dorsey Wright Dynamic Focus Five Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.71% for FVC and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 1.00), 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.