GDXJ vs. BITI
GDXJ (VanEck Junior Gold Miners ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, GDXJ returned 38.00%/yr vs -30.65%/yr for BITI. At a correlation of -0.23, they often move in opposite directions. GDXJ charges 0.52%/yr vs 1.03%/yr for BITI.
Performance
GDXJ vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, GDXJ achieves a -16.15% return, which is significantly lower than BITI's 28.75% return.
GDXJ
- 1D
- -3.52%
- 1M
- -8.50%
- 6M
- -24.47%
- YTD
- -16.15%
- 1Y
- 41.78%
- 3Y*
- 38.00%
- 5Y*
- 17.19%
- 10Y*
- 8.63%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
GDXJ vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | -16.15% | 172.28% | 15.67% | 7.12% | -2.51% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between GDXJ and BITI is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.23 |
The correlation between GDXJ and BITI shifts across timeframes, from -0.33 (1 year) to -0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GDXJ vs. BITI — Risk / Return Rank
GDXJ
BITI
GDXJ vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) 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.
| GDXJ | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.26 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 2.72 | -1.65 |
| Martin ratioReturn relative to average drawdown | 2.43 | 6.78 | -4.35 |
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Drawdowns
GDXJ vs. BITI - Drawdown Comparison
The maximum GDXJ drawdown since its inception was -88.66%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for GDXJ and BITI.
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Drawdown Indicators
| GDXJ | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.66% | -92.16% | +3.50% |
Max Drawdown (1Y)Largest decline over 1 year | -39.47% | -25.28% | -14.19% |
Max Drawdown (3Y)Largest decline over 3 years | -39.47% | -84.63% | +45.16% |
Max Drawdown (5Y)Largest decline over 5 years | -48.79% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.77% | — | — |
Current DrawdownCurrent decline from peak | -38.92% | -85.94% | +47.02% |
Average DrawdownAverage peak-to-trough decline | -60.33% | -68.34% | +8.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.24% | 10.11% | +7.13% |
Volatility
GDXJ vs. BITI - Volatility Comparison
VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 17.14% compared to ProShares Short Bitcoin ETF (BITI) at 11.38%. This indicates that GDXJ's price experiences larger fluctuations and is considered to be riskier 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
| GDXJ | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.14% | 11.38% | +5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 44.51% | 34.25% | +10.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.18% | 44.14% | +9.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.90% | 52.28% | -10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.26% | 52.28% | -8.02% |
GDXJ vs. BITI - Expense Ratio Comparison
GDXJ has a 0.52% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
GDXJ vs. BITI - Dividend Comparison
GDXJ's dividend yield for the trailing twelve months is around 2.78%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
GDXJ VanEck Junior Gold Miners ETF | 2.78% | 2.33% | 2.61% | 0.72% | 0.51% | 1.78% | 1.58% | 0.39% | 0.45% | 0.03% | 4.78% | 0.72% |
Frequently Asked Questions
GDXJ and BITI have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXJ has higher volatility (17.14%) compared to BITI (11.38%). In terms of maximum drawdown, GDXJ dropped -88.66% vs BITI's -92.16%.
On 3-year performance, GDXJ leads with 38.00% vs -30.65% for BITI. On fees, GDXJ is cheaper at 0.52% per year. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDXJ has performed better with a 38.00% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXJ is cheaper with a 0.52% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 2.78% for GDXJ.
GDXJ is categorized as Gold, while BITI is Cryptocurrency. GDXJ tracks MVIS Global Junior Gold Miners Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: VanEck and ProShares. Their fees differ too: 0.52% for GDXJ and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.56 vs 0.79), 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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