GVAL vs. BITI
GVAL (Cambria Global Value ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - GVAL is a Global Equities fund actively managed by Cambria, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. GVAL is actively managed, while BITI is passively managed. Over the past 3 years, GVAL returned 25.96%/yr vs -31.54%/yr for BITI. At a correlation of -0.31, they often move in opposite directions. GVAL charges 0.64%/yr vs 1.03%/yr for BITI.
Performance
GVAL vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, GVAL achieves a 18.91% return, which is significantly lower than BITI's 23.84% return.
GVAL
- 1D
- 1.26%
- 1M
- 1.95%
- 6M
- 13.74%
- YTD
- 18.91%
- 1Y
- 38.32%
- 3Y*
- 25.96%
- 5Y*
- 15.17%
- 10Y*
- 11.17%
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
GVAL vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GVAL Cambria Global Value ETF | 18.91% | 55.87% | 2.59% | 13.30% | 9.53% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between GVAL and BITI is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.31 |
The correlation between GVAL and BITI shifts across timeframes, from -0.38 (1 year) to -0.28 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GVAL vs. BITI — Risk / Return Rank
GVAL
BITI
GVAL vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Global Value ETF (GVAL) 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.
| GVAL | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.24 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 2.56 | +0.79 |
| Martin ratioReturn relative to average drawdown | 12.39 | 6.37 | +6.02 |
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Drawdowns
GVAL vs. BITI - Drawdown Comparison
The maximum GVAL drawdown since its inception was -46.82%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for GVAL and BITI.
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Drawdown Indicators
| GVAL | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.82% | -92.16% | +45.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.50% | -25.28% | +13.78% |
Max Drawdown (3Y)Largest decline over 3 years | -15.72% | -84.63% | +68.91% |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.82% | — | — |
Current DrawdownCurrent decline from peak | -1.05% | -86.48% | +85.43% |
Average DrawdownAverage peak-to-trough decline | -13.77% | -68.36% | +54.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 10.13% | -7.03% |
Volatility
GVAL vs. BITI - Volatility Comparison
The current volatility for Cambria Global Value ETF (GVAL) is 5.51%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that GVAL 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
| GVAL | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 11.73% | -6.22% |
Volatility (6M)Calculated over the trailing 6-month period | 14.09% | 34.49% | -20.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.71% | 44.24% | -28.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 52.29% | -33.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.98% | 52.29% | -33.31% |
GVAL vs. BITI - Expense Ratio Comparison
GVAL has a 0.64% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
GVAL vs. BITI - Dividend Comparison
GVAL's dividend yield for the trailing twelve months is around 2.40%, less than BITI's 15.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.70% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GVAL Cambria Global Value ETF | 2.40% | 2.93% | 4.75% | 6.12% | 5.05% | 2.97% | 1.90% | 2.84% | 4.65% | 2.00% | 2.54% | 2.11% |
Frequently Asked Questions
GVAL and BITI have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.73%) compared to GVAL (5.51%). In terms of maximum drawdown, GVAL dropped -46.82% vs BITI's -92.16%.
On 3-year performance, GVAL leads with 25.96% vs -31.54% for BITI. On fees, GVAL is cheaper at 0.64% per year. On volatility, GVAL has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GVAL has performed better with a 25.96% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GVAL is cheaper with a 0.64% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 2.40% for GVAL.
GVAL is categorized as Global Equities, while BITI is Cryptocurrency. They also come from different issuers: Cambria and ProShares. Their fees differ too: 0.64% for GVAL and 1.03% for BITI.
GVAL currently has the higher Sharpe Ratio (2.45 vs 1.46), 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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