HVAC vs. SBIT

Last updated Jul 14, 2026

HVAC (AdvisorShares HVAC and Industrials ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - HVAC is a Industrials Equities fund actively managed by AdvisorShares, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). HVAC is actively managed, while SBIT is passively managed. Over the past year, HVAC returned 28.95% vs 124.12% for SBIT. At a correlation of -0.36, they often move in opposite directions. HVAC charges 1.00%/yr vs 0.95%/yr for SBIT.

Performance

HVAC vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares HVAC and Industrials ETF (HVAC) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HVAC achieves a 19.43% return, which is significantly lower than SBIT's 44.00% return.

HVAC

• 1D: -2.51%
• 1M: -7.68%
• 6M: 11.79%
• YTD: 19.43%
• 1Y: 28.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HVAC vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
HVAC AdvisorShares HVAC and Industrials ETF	19.43%	23.15%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-7.79%

Correlation

The correlation between HVAC and SBIT is -0.35, 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	-0.35
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	-0.36

Return for Risk

HVAC vs. SBIT — Risk / Return Rank

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

HVAC

HVAC Risk / Return Rank: 37
HVAC Sharpe Ratio Rank: 32
HVAC Sortino Ratio Rank: 30
HVAC Omega Ratio Rank: 31
HVAC Calmar Ratio Rank: 49
HVAC Martin Ratio Rank: 45

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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.

HVAC vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares HVAC and Industrials ETF (HVAC) 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.

	HVAC	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.41	-0.50
Sortino ratio: Return per unit of downside risk	1.34	2.05	-0.72
Omega ratio: Gain probability vs. loss probability	1.17	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	1.96	2.60	-0.64
Martin ratio: Return relative to average drawdown	5.92	5.92	-0.01

HVAC vs. SBIT - Sharpe Ratio Comparison

The current HVAC Sharpe Ratio is 0.92, which is lower than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of HVAC and SBIT, 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

HVAC vs. SBIT - Drawdown Comparison

The maximum HVAC drawdown since its inception was -21.22%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for HVAC and SBIT.

Drawdown Indicators

	HVAC	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-21.22%	-91.35%	+70.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.83%	-47.94%	+33.11%
Current Drawdown Current decline from peak	-14.42%	-77.15%	+62.73%
Average Drawdown Average peak-to-trough decline	-4.15%	-68.83%	+64.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.91%	21.04%	-16.13%

Volatility

HVAC vs. SBIT - Volatility Comparison

The current volatility for AdvisorShares HVAC and Industrials ETF (HVAC) is 15.35%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that HVAC 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.

Volatility by Period

	HVAC	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.35%	22.98%	-7.63%
Volatility (6M) Calculated over the trailing 6-month period	27.21%	68.89%	-41.68%
Volatility (1Y) Calculated over the trailing 1-year period	31.74%	88.51%	-56.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.52%	96.89%	-65.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.52%	96.89%	-65.37%

HVAC vs. SBIT - Expense Ratio Comparison

HVAC has a 1.00% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

HVAC vs. SBIT - Dividend Comparison

HVAC's dividend yield for the trailing twelve months is around 0.16%, less than SBIT's 3.97% yield.

Position	TTM	2025	2024
HVAC AdvisorShares HVAC and Industrials ETF	0.16%	0.19%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both HVAC and SBIT in my portfolio?

HVAC and SBIT have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HVAC or SBIT?

SBIT has higher volatility (22.98%) compared to HVAC (15.35%). In terms of maximum drawdown, HVAC dropped -21.22% vs SBIT's -91.35%.

Which ETF is better, HVAC or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 28.95% for HVAC. On fees, SBIT is cheaper at 0.95% per year. On volatility, HVAC has been the lower-risk option at 15.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HVAC or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 28.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HVAC or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 1.00% for HVAC.

Which ETF pays a higher dividend yield, HVAC or SBIT?

SBIT has the higher dividend yield at 3.97%, compared with 0.16% for HVAC.

What is the main difference between HVAC and SBIT?

HVAC is categorized as Industrials Equities, while SBIT is Cryptocurrency. They also come from different issuers: AdvisorShares and ProShares. Their fees differ too: 1.00% for HVAC and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.41 vs 0.92), 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.