FXI vs. BITI
FXI (iShares China Large-Cap ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - FXI is a China Equities fund tracking the FTSE China 50 Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, FXI returned 9.88%/yr vs -31.77%/yr for BITI. Their -0.23 correlation means they have often moved in opposite directions in the past. FXI charges 0.74%/yr vs 1.03%/yr for BITI.
Performance
FXI vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, FXI achieves a -3.96% return, which is significantly lower than BITI's 27.11% return.
FXI
- 1D
- -0.05%
- 1M
- 14.38%
- 6M
- -7.16%
- YTD
- -3.96%
- 1Y
- 0.93%
- 3Y*
- 9.88%
- 5Y*
- 0.26%
- 10Y*
- 2.81%
- ALL TIME*
- 5.58%
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 | |
| $773.89M | $798.32M | $975.73M |
FXI vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FXI iShares China Large-Cap ETF | -3.96% | 28.95% | 28.98% | -12.42% | -10.33% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between FXI and BITI is -0.34, 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. | -0.34 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.23 |
The correlation between FXI and BITI shifts across timeframes, from -0.34 (1 year) to -0.20 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FXI vs. BITI — Risk / Return Rank
FXI
BITI
FXI vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China Large-Cap ETF (FXI) 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.
| FXI | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.24 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 2.53 | -2.57 |
| Martin ratioReturn relative to average drawdown | -0.07 | 6.17 | -6.25 |
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Drawdowns
FXI vs. BITI - Drawdown Comparison
The maximum FXI drawdown since its inception was -72.68%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for FXI and BITI.
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Drawdown Indicators
| FXI | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.68% | -92.16% | +19.48% |
Max Drawdown (1Y)Largest decline over 1 year | -22.94% | -25.28% | +2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -25.56% | -84.63% | +59.07% |
Max Drawdown (5Y)Largest decline over 5 years | -49.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -60.81% | — | — |
Current DrawdownCurrent decline from peak | -24.37% | -86.12% | +61.75% |
Average DrawdownAverage peak-to-trough decline | -31.21% | -68.59% | +37.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.00% | 10.35% | -0.35% |
Volatility
FXI vs. BITI - Volatility Comparison
The current volatility for iShares China Large-Cap ETF (FXI) is 5.14%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that FXI 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
| FXI | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 9.13% | -3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.61% | 33.31% | -18.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.32% | 44.23% | -23.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.44% | 52.03% | -20.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.60% | 52.03% | -24.43% |
FXI vs. BITI - Expense Ratio Comparison
FXI has a 0.74% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
FXI vs. BITI - Dividend Comparison
FXI's dividend yield for the trailing twelve months is around 1.86%, 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% |
FXI iShares China Large-Cap ETF | 1.86% | 2.42% | 1.76% | 3.17% | 2.61% | 1.60% | 2.19% | 2.74% | 2.69% | 2.31% | 2.69% | 2.90% |
Frequently Asked Questions
FXI and BITI have a correlation of -0.34, 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 FXI (5.14%). In terms of maximum drawdown, FXI dropped -72.68% vs BITI's -92.16%.
On 3-year performance, FXI leads with 9.88% vs -31.77% for BITI. On fees, FXI is cheaper at 0.74% per year. On volatility, FXI has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FXI has performed better with a 9.88% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXI is cheaper with a 0.74% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 1.86% for FXI.
FXI is categorized as China Equities, while BITI is Cryptocurrency. FXI tracks FTSE China 50 Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.74% for FXI and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.45 vs -0.04), 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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