HBR vs. BITI
HBR (Canary HBAR ETF) and BITI (ProShares Shrt Bitcoin ETF) are both Cryptocurrency funds. HBR is actively managed, while BITI is passively managed. At a correlation of -0.79, they often move in opposite directions. HBR charges 0.50%/yr vs 1.03%/yr for BITI.
Performance
HBR vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, HBR achieves a -32.96% return, which is significantly lower than BITI's 34.43% return.
HBR
- 1D
- -1.11%
- 1M
- -16.21%
- YTD
- -32.96%
- 6M
- -36.03%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITI
- 1D
- -0.83%
- 1M
- 23.58%
- YTD
- 34.43%
- 6M
- 34.49%
- 1Y
- 60.05%
- 3Y*
- -29.17%
- 5Y*
- —
- 10Y*
- —
HBR vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBR Canary HBAR ETF | -32.96% | -49.43% |
BITI ProShares Shrt Bitcoin ETF | 34.43% | 28.23% |
Correlation
The correlation between HBR and BITI is -0.79, 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 (All Time) Calculated using the full available price history since Oct 28, 2025 | -0.79 |
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Return for Risk
HBR vs. BITI — Risk / Return Rank
HBR
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BITI
HBR vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canary HBAR ETF (HBR) 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.
| HBR | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.39 | — |
| Martin ratioReturn relative to average drawdown | — | 5.50 | — |
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Drawdowns
HBR vs. BITI - Drawdown Comparison
The maximum HBR drawdown since its inception was -66.10%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for HBR and BITI.
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Drawdown Indicators
| HBR | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.10% | -92.16% | +26.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.28% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.63% | — |
Current DrawdownCurrent decline from peak | -66.10% | -85.32% | +19.22% |
Average DrawdownAverage peak-to-trough decline | -49.10% | -68.17% | +19.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.95% | — |
Volatility
HBR vs. BITI - Volatility Comparison
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Volatility by Period
| HBR | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.28% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 34.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 71.94% | 44.12% | +27.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.94% | 52.42% | +19.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.94% | 52.42% | +19.52% |
HBR vs. BITI - Expense Ratio Comparison
HBR has a 0.50% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
HBR vs. BITI - Dividend Comparison
HBR has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 8.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 8.78% | 1.60% | 3.91% | 3.33% | 0.06% |
HBR Canary HBAR ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HBR and BITI have a correlation of -0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBR is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBR is cheaper with a 0.50% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 8.78%, compared with 0.00% for HBR.
They also come from different issuers: Canary Capital and ProShares. Their fees differ too: 0.50% for HBR and 1.03% for BITI.
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