GLDI vs. BITI
GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, GLDI returned 15.86%/yr vs -30.65%/yr for BITI. At a correlation of -0.16, they often move in opposite directions. GLDI charges 0.65%/yr vs 1.03%/yr for BITI.
Performance
GLDI vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, GLDI achieves a -6.48% return, which is significantly lower than BITI's 28.75% return.
GLDI
- 1D
- -2.21%
- 1M
- -3.95%
- 6M
- -9.07%
- YTD
- -6.48%
- 1Y
- 9.18%
- 3Y*
- 15.86%
- 5Y*
- 9.90%
- 10Y*
- 7.63%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
GLDI vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -6.48% | 34.25% | 17.76% | 8.93% | -0.37% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between GLDI and BITI is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.16 |
The correlation between GLDI and BITI shifts across timeframes, from -0.24 (1 year) to -0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLDI vs. BITI — Risk / Return Rank
GLDI
BITI
GLDI vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) 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.
| GLDI | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.26 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 2.72 | -2.13 |
| Martin ratioReturn relative to average drawdown | 1.72 | 6.78 | -5.06 |
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Drawdowns
GLDI vs. BITI - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for GLDI and BITI.
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Drawdown Indicators
| GLDI | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -92.16% | +59.90% |
Max Drawdown (1Y)Largest decline over 1 year | -15.81% | -25.28% | +9.47% |
Max Drawdown (3Y)Largest decline over 3 years | -15.81% | -84.63% | +68.82% |
Max Drawdown (5Y)Largest decline over 5 years | -15.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.81% | — | — |
Current DrawdownCurrent decline from peak | -15.11% | -85.94% | +70.83% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -68.34% | +54.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 10.11% | -4.75% |
Volatility
GLDI vs. BITI - Volatility Comparison
The current volatility for UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) is 6.46%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that GLDI 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
| GLDI | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 11.38% | -4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 15.24% | 34.25% | -19.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 44.14% | -27.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.75% | 52.28% | -40.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.61% | 52.28% | -40.67% |
GLDI vs. BITI - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
GLDI vs. BITI - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 27.25%, more 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% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 27.25% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
Frequently Asked Questions
GLDI and BITI have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.38%) compared to GLDI (6.46%). In terms of maximum drawdown, GLDI dropped -32.26% vs BITI's -92.16%.
On 3-year performance, GLDI leads with 15.86% vs -30.65% for BITI. On fees, GLDI is cheaper at 0.65% per year. On volatility, GLDI has been the lower-risk option at 6.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GLDI has performed better with a 15.86% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 1.03% for BITI.
GLDI has the higher dividend yield at 27.25%, compared with 15.10% for BITI.
GLDI is categorized as Gold, while BITI is Cryptocurrency. GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: UBS and ProShares. Their fees differ too: 0.65% for GLDI and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.56 vs 0.56), 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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