GOEX vs. SBIT
GOEX (Global X Gold Explorers ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - GOEX is a Gold fund tracking the Solactive Global Gold Explorers & Developers Total Return, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, GOEX returned 60.99% vs 98.77% for SBIT. Their -0.23 correlation means they have often moved in opposite directions in the past. GOEX charges 0.65%/yr vs 0.95%/yr for SBIT.
Performance
GOEX vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, GOEX achieves a -14.85% return, which is significantly lower than SBIT's 39.44% return.
GOEX
- 1D
- -3.78%
- 1M
- -5.18%
- 6M
- -20.91%
- YTD
- -14.85%
- 1Y
- 60.99%
- 3Y*
- 42.10%
- 5Y*
- 19.04%
- 10Y*
- 9.57%
- ALL TIME*
- 0.24%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $302.55K | $389.74K | $635.93K | |
| $29.57M | $32.71M | $46.48M |
GOEX vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GOEX Global X Gold Explorers ETF | -14.85% | 179.50% | 13.70% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between GOEX and SBIT is -0.36, 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. | -0.36 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.23 |
The correlation between GOEX and SBIT shifts across timeframes, from -0.36 (1 year) to -0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GOEX vs. SBIT — Risk / Return Rank
GOEX
SBIT
GOEX vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Gold Explorers ETF (GOEX) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.
| GOEX | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.35 | -0.79 |
| Martin ratioReturn relative to average drawdown | 3.27 | 5.19 | -1.92 |
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Drawdowns
GOEX vs. SBIT - Drawdown Comparison
The maximum GOEX drawdown since its inception was -88.83%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for GOEX and SBIT.
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Drawdown Indicators
| GOEX | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.83% | -91.35% | +2.52% |
Max Drawdown (1Y)Largest decline over 1 year | -39.87% | -47.94% | +8.07% |
Max Drawdown (3Y)Largest decline over 3 years | -39.87% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -53.66% | — | — |
Current DrawdownCurrent decline from peak | -37.16% | -77.87% | +40.71% |
Average DrawdownAverage peak-to-trough decline | -63.28% | -69.07% | +5.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.02% | 21.67% | -2.65% |
Volatility
GOEX vs. SBIT - Volatility Comparison
The current volatility for Global X Gold Explorers ETF (GOEX) is 14.97%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that GOEX experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOEX | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.97% | 18.09% | -3.12% |
Volatility (6M)Calculated over the trailing 6-month period | 42.64% | 67.10% | -24.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.89% | 88.65% | -35.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.03% | 96.10% | -56.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.14% | 96.10% | -55.96% |
GOEX vs. SBIT - Expense Ratio Comparison
GOEX has a 0.65% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
GOEX vs. SBIT - Dividend Comparison
GOEX's dividend yield for the trailing twelve months is around 2.58%, less than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOEX Global X Gold Explorers ETF | 2.58% | 2.08% | 2.46% | 0.05% | 1.04% | 2.35% | 2.62% | 1.60% | 0.00% | 0.00% | 38.91% | 11.70% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOEX and SBIT have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.09%) compared to GOEX (14.97%). In terms of maximum drawdown, GOEX dropped -88.83% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 60.99% for GOEX. On fees, GOEX is cheaper at 0.65% per year. On volatility, GOEX has been the lower-risk option at 14.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs 60.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOEX is cheaper with a 0.65% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 2.58% for GOEX.
GOEX is categorized as Gold, while SBIT is Cryptocurrency. GOEX tracks Solactive Global Gold Explorers & Developers Total Return, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.65% for GOEX and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs 1.18), 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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