FXC vs. BITI
FXC (Invesco CurrencyShares® Canadian Dollar Trust) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FXC is a Currency fund tracking the Canadian Dollar, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, FXC returned -0.59%/yr vs -31.77%/yr for BITI. Their -0.23 correlation means they have often moved in opposite directions in the past. FXC charges 0.40%/yr vs 1.03%/yr for BITI.
Performance
FXC vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, FXC achieves a -1.96% return, which is significantly lower than BITI's 27.11% return.
FXC
- 1D
- 0.06%
- 1M
- 1.05%
- 6M
- -2.81%
- YTD
- -1.96%
- 1Y
- -1.43%
- 3Y*
- -0.59%
- 5Y*
- -1.37%
- 10Y*
- -0.15%
- ALL TIME*
- -0.50%
BITI
- 1D
- 3.01%
- 1M
- -2.58%
- 6M
- 22.77%
- YTD
- 27.11%
- 1Y
- 58.64%
- 3Y*
- -31.77%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.10M | $26.49M | $38.71M | |
| $2.79M | $2.89M | $1.65M |
FXC vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FXC Invesco CurrencyShares® Canadian Dollar Trust | -1.96% | 5.24% | -5.96% | 4.35% | -3.42% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between FXC and BITI is -0.19, 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. | -0.19 |
Correlation (3Y) Balances recent behavior with more history. | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.23 |
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Return for Risk
FXC vs. BITI — Risk / Return Rank
FXC
BITI
FXC vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) 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.
| FXC | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.24 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.53 | -2.73 |
| Martin ratioReturn relative to average drawdown | -0.46 | 6.17 | -6.64 |
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Drawdowns
FXC vs. BITI - Drawdown Comparison
The maximum FXC drawdown since its inception was -35.39%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FXC and BITI.
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Drawdown Indicators
| FXC | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -92.16% | +56.77% |
Max Drawdown (1Y)Largest decline over 1 year | -5.14% | -25.28% | +20.14% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -84.63% | +77.29% |
Max Drawdown (5Y)Largest decline over 5 years | -11.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.46% | — | — |
Current DrawdownCurrent decline from peak | -29.44% | -86.12% | +56.68% |
Average DrawdownAverage peak-to-trough decline | -19.99% | -68.59% | +48.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 10.35% | -8.15% |
Volatility
FXC vs. BITI - Volatility Comparison
The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 1.13%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that FXC 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
| FXC | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 9.13% | -8.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 33.31% | -30.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 44.23% | -39.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.25% | 52.03% | -45.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.59% | 52.03% | -45.44% |
FXC vs. BITI - Expense Ratio Comparison
FXC has a 0.40% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
FXC vs. BITI - Dividend Comparison
FXC's dividend yield for the trailing twelve months is around 0.23%, less than BITI's 15.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FXC Invesco CurrencyShares® Canadian Dollar Trust | 0.19% | 0.55% | 2.23% | 2.01% | 0.31% | 0.00% | 0.19% | 0.75% | 0.42% | 0.02% | 0.00% | 0.02% |
Frequently Asked Questions
FXC and BITI have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (9.13%) compared to FXC (1.13%). In terms of maximum drawdown, FXC dropped -35.39% vs BITI's -92.16%.
On 3-year performance, FXC leads with -0.59% vs -31.77% for BITI. On fees, FXC is cheaper at 0.40% per year. On volatility, FXC has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FXC has performed better with a -0.59% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXC is cheaper with a 0.40% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 0.19% for FXC.
FXC is categorized as Currency, while BITI is Cryptocurrency. FXC tracks Canadian Dollar, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.40% for FXC and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.45 vs -0.24), 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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