GXLM vs. BITI

Last updated Jun 30, 2026

GXLM (Grayscale Stellar Lumens Trust (XLM)) and BITI (ProShares Shrt Bitcoin ETF) are both Cryptocurrency funds. GXLM is actively managed, while BITI is passively managed. Over the past 3 years, GXLM returned -27.76%/yr vs -29.70%/yr for BITI. At a correlation of -0.46, they often move in opposite directions.

Performance

GXLM vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Stellar Lumens Trust (XLM) (GXLM) and ProShares Shrt Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GXLM achieves a 6.12% return, which is significantly lower than BITI's 33.11% return.

GXLM

• 1D: -0.10%
• 1M: -24.43%
• YTD: 6.12%
• 6M: 1.93%
• 1Y: 3.00%
• 3Y*: -27.76%
• 5Y*: —
• 10Y*: —

BITI

• 1D: -0.98%
• 1M: 20.05%
• YTD: 33.11%
• 6M: 32.54%
• 1Y: 57.36%
• 3Y*: -29.70%
• 5Y*: —
• 10Y*: —

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

GXLM vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GXLM Grayscale Stellar Lumens Trust (XLM)	6.12%	-50.11%	15.60%	532.21%	-46.68%
BITI ProShares Shrt Bitcoin ETF	33.11%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between GXLM and BITI is -0.63, 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	-0.63
Correlation (3Y) Calculated over the trailing 3-year period	-0.52
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.46

The correlation between GXLM and BITI shifts across timeframes, from -0.63 (1 year) to -0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GXLM vs. BITI — Risk / Return Rank

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

GXLM

GXLM Risk / Return Rank: 12
GXLM Sharpe Ratio Rank: 10
GXLM Sortino Ratio Rank: 17
GXLM Omega Ratio Rank: 16
GXLM Calmar Ratio Rank: 9
GXLM Martin Ratio Rank: 9

BITI

BITI Risk / Return Rank: 42
BITI Sharpe Ratio Rank: 41
BITI Sortino Ratio Rank: 40
BITI Omega Ratio Rank: 37
BITI Calmar Ratio Rank: 54
BITI Martin Ratio Rank: 38

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.

GXLM vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Stellar Lumens Trust (XLM) (GXLM) and ProShares Shrt 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.

	GXLM	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.03	1.31	-1.28
Sortino ratio: Return per unit of downside risk	0.89	1.87	-0.99
Omega ratio: Gain probability vs. loss probability	1.10	1.23	-0.13
Calmar ratio: Return relative to maximum drawdown	0.04	2.28	-2.24
Martin ratio: Return relative to average drawdown	0.06	5.25	-5.19

GXLM vs. BITI - Sharpe Ratio Comparison

The current GXLM Sharpe Ratio is 0.03, which is lower than the BITI Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of GXLM 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

GXLM vs. BITI - Drawdown Comparison

The maximum GXLM drawdown since its inception was -94.01%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for GXLM and BITI.

Drawdown Indicators

	GXLM	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-94.01%	-92.16%	-1.85%
Max Drawdown (1Y) Largest decline over 1 year	-71.88%	-25.28%	-46.60%
Max Drawdown (3Y) Largest decline over 3 years	-78.19%	-84.63%	+6.44%
Current Drawdown Current decline from peak	-76.54%	-85.47%	+8.93%
Average Drawdown Average peak-to-trough decline	-70.43%	-68.19%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.28%	10.95%	+41.33%

Volatility

GXLM vs. BITI - Volatility Comparison

Grayscale Stellar Lumens Trust (XLM) (GXLM) has a higher volatility of 34.14% compared to ProShares Shrt Bitcoin ETF (BITI) at 13.37%. This indicates that GXLM'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.

Volatility by Period

	GXLM	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.14%	13.37%	+20.77%
Volatility (6M) Calculated over the trailing 6-month period	61.53%	34.13%	+27.40%
Volatility (1Y) Calculated over the trailing 1-year period	104.03%	44.23%	+59.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	148.38%	52.40%	+95.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	148.38%	52.40%	+95.98%

Dividends

GXLM vs. BITI - Dividend Comparison

GXLM has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 8.87%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Shrt Bitcoin ETF	8.87%	1.60%	3.91%	3.33%	0.06%
GXLM Grayscale Stellar Lumens Trust (XLM)	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GXLM and BITI in my portfolio?

GXLM and BITI have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GXLM or BITI?

GXLM has higher volatility (34.14%) compared to BITI (13.37%). In terms of maximum drawdown, GXLM dropped -94.01% vs BITI's -92.16%.

Which ETF is better, GXLM or BITI?

On 3-year performance, GXLM leads with -27.76% vs -29.70% for BITI. On volatility, BITI has been the lower-risk option at 13.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GXLM or BITI?

Over the 3-year period, GXLM has performed better with a -27.76% return vs -29.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

BITI has the higher dividend yield at 8.87%, compared with 0.00% for GXLM.

What is the main difference between GXLM and BITI?

They also come from different issuers: Grayscale and ProShares.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.31 vs 0.03), 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.