GGRW vs. BITI

Last updated Jul 18, 2026

GGRW (Gabelli Growth Innovators ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - GGRW is a Large Cap Growth Equities fund actively managed by GAMCO Investors, Inc., while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. GGRW is actively managed, while BITI is passively managed. Over the past 3 years, GGRW returned 23.11%/yr vs -31.71%/yr for BITI. At a correlation of -0.36, they often move in opposite directions. GGRW charges 0.90%/yr vs 1.03%/yr for BITI.

Performance

GGRW vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Growth Innovators ETF (GGRW) 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, GGRW achieves a 4.49% return, which is significantly lower than BITI's 24.73% return.

GGRW

• 1D: -1.56%
• 1M: -0.67%
• 6M: 4.02%
• YTD: 4.49%
• 1Y: 8.55%
• 3Y*: 23.11%
• 5Y*: 8.16%
• 10Y*: —

BITI

• 1D: 0.20%
• 1M: -0.52%
• 6M: 36.51%
• YTD: 24.73%
• 1Y: 64.56%
• 3Y*: -31.71%
• 5Y*: —
• 10Y*: —

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

GGRW vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GGRW Gabelli Growth Innovators ETF	4.49%	18.29%	41.78%	42.19%	-3.45%
BITI ProShares Short Bitcoin ETF	24.73%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between GGRW and BITI is -0.45, 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	-0.45
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	-0.36

The correlation between GGRW and BITI shifts across timeframes, from -0.45 (1 year) to -0.34 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GGRW vs. BITI — Risk / Return Rank

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

GGRW

GGRW Risk / Return Rank: 20
GGRW Sharpe Ratio Rank: 20
GGRW Sortino Ratio Rank: 19
GGRW Omega Ratio Rank: 19
GGRW Calmar Ratio Rank: 19
GGRW Martin Ratio Rank: 25

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 54
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 65
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.

GGRW vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Growth Innovators ETF (GGRW) 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.

	GGRW	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.53	1.47	-0.94
Sortino ratio: Return per unit of downside risk	0.84	2.04	-1.20
Omega ratio: Gain probability vs. loss probability	1.10	1.25	-0.14
Calmar ratio: Return relative to maximum drawdown	0.65	2.57	-1.92
Martin ratio: Return relative to average drawdown	2.40	6.36	-3.96

GGRW vs. BITI - Sharpe Ratio Comparison

The current GGRW Sharpe Ratio is 0.53, which is lower than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of GGRW 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

GGRW vs. BITI - Drawdown Comparison

The maximum GGRW drawdown since its inception was -50.28%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for GGRW and BITI.

Drawdown Indicators

	GGRW	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-50.28%	-92.16%	+41.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.19%	-25.28%	+12.09%
Max Drawdown (3Y) Largest decline over 3 years	-20.53%	-84.63%	+64.10%
Max Drawdown (5Y) Largest decline over 5 years	-50.28%	—	—
Current Drawdown Current decline from peak	-3.10%	-86.38%	+83.28%
Average Drawdown Average peak-to-trough decline	-17.03%	-68.42%	+51.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	10.18%	-6.61%

Volatility

GGRW vs. BITI - Volatility Comparison

The current volatility for Gabelli Growth Innovators ETF (GGRW) is 5.83%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.69%. This indicates that GGRW 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

	GGRW	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	10.69%	-4.86%
Volatility (6M) Calculated over the trailing 6-month period	13.26%	34.09%	-20.83%
Volatility (1Y) Calculated over the trailing 1-year period	16.08%	44.07%	-27.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.46%	52.21%	-26.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.41%	52.21%	-26.80%

GGRW vs. BITI - Expense Ratio Comparison

GGRW has a 0.90% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

GGRW vs. BITI - Dividend Comparison

GGRW's dividend yield for the trailing twelve months is around 0.41%, less than BITI's 15.59% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.59%	1.60%	3.91%	3.33%	0.06%
GGRW Gabelli Growth Innovators ETF	0.41%	0.43%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGRW and BITI in my portfolio?

GGRW and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGRW or BITI?

BITI has higher volatility (10.69%) compared to GGRW (5.83%). In terms of maximum drawdown, GGRW dropped -50.28% vs BITI's -92.16%.

Which ETF is better, GGRW or BITI?

On 3-year performance, GGRW leads with 23.11% vs -31.71% for BITI. On fees, GGRW is cheaper at 0.90% per year. On volatility, GGRW has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGRW or BITI?

Over the 3-year period, GGRW has performed better with a 23.11% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGRW or BITI?

GGRW is cheaper with a 0.90% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.59%, compared with 0.41% for GGRW.

What is the main difference between GGRW and BITI?

GGRW is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. They also come from different issuers: GAMCO Investors, Inc. and ProShares. Their fees differ too: 0.90% for GGRW and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 0.53), 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.