HERO vs. BITI
HERO (Global X Video Games & Esports ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - HERO is a Large Cap Growth Equities fund tracking the Solactive Video Games & Esports Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, HERO returned 10.27%/yr vs -32.35%/yr for BITI. Their -0.33 correlation means they have often moved in opposite directions in the past. HERO charges 0.50%/yr vs 1.03%/yr for BITI.
Performance
HERO vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, HERO achieves a -10.56% return, which is significantly lower than BITI's 25.22% return.
HERO
- 1D
- 1.40%
- 1M
- 4.91%
- 6M
- -9.80%
- YTD
- -10.56%
- 1Y
- -13.47%
- 3Y*
- 10.27%
- 5Y*
- -1.39%
- 10Y*
- —
- ALL TIME*
- 9.68%
BITI
- 1D
- -1.48%
- 1M
- -4.03%
- 6M
- 13.09%
- YTD
- 25.22%
- 1Y
- 56.28%
- 3Y*
- -32.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.18M | $25.87M | $38.72M | |
| $881.17K | $612.17K | $690.19K |
HERO vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HERO Global X Video Games & Esports ETF | -10.56% | 28.74% | 17.65% | 8.36% | -10.75% |
BITI ProShares Short Bitcoin ETF | 25.22% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between HERO and BITI is -0.40, 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. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.33 |
The correlation between HERO and BITI shifts across timeframes, from -0.40 (1 year) to -0.29 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HERO vs. BITI — Risk / Return Rank
HERO
BITI
HERO vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports ETF (HERO) 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.
| HERO | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.66 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.22 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 2.24 | -2.68 |
| Martin ratioReturn relative to average drawdown | -0.76 | 5.45 | -6.21 |
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Drawdowns
HERO vs. BITI - Drawdown Comparison
The maximum HERO drawdown since its inception was -54.02%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for HERO and BITI.
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Drawdown Indicators
| HERO | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.02% | -92.16% | +38.14% |
Max Drawdown (1Y)Largest decline over 1 year | -30.78% | -25.28% | -5.50% |
Max Drawdown (3Y)Largest decline over 3 years | -30.78% | -84.63% | +53.85% |
Max Drawdown (5Y)Largest decline over 5 years | -46.42% | — | — |
Current DrawdownCurrent decline from peak | -24.74% | -86.33% | +61.59% |
Average DrawdownAverage peak-to-trough decline | -26.02% | -68.61% | +42.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.64% | 10.37% | +7.27% |
Volatility
HERO vs. BITI - Volatility Comparison
The current volatility for Global X Video Games & Esports ETF (HERO) is 7.39%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. This indicates that HERO 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
| HERO | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 8.93% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 16.13% | 33.35% | -17.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.63% | 44.25% | -23.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.48% | 52.01% | -28.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.45% | 52.01% | -27.56% |
HERO vs. BITI - Expense Ratio Comparison
HERO has a 0.50% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
HERO vs. BITI - Dividend Comparison
HERO's dividend yield for the trailing twelve months is around 1.74%, less than BITI's 21.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% |
HERO Global X Video Games & Esports ETF | 1.74% | 1.62% | 1.06% | 0.73% | 0.28% | 0.79% | 0.71% | 0.17% |
Frequently Asked Questions
HERO and BITI have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (8.93%) compared to HERO (7.39%). In terms of maximum drawdown, HERO dropped -54.02% vs BITI's -92.16%.
On 3-year performance, HERO leads with 10.27% vs -32.35% for BITI. On fees, HERO is cheaper at 0.50% per year. On volatility, HERO has been the lower-risk option at 7.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HERO has performed better with a 10.27% return vs -32.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HERO is cheaper with a 0.50% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 21.80%, compared with 1.74% for HERO.
HERO is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. HERO tracks Solactive Video Games & Esports Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.50% for HERO and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.28 vs -0.66), 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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