HYDR vs. BITI

Last updated Jul 18, 2026

HYDR (Global X Hydrogen ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - HYDR is a Alternative Energy Equities fund tracking the Solactive Global Hydrogen Index - Benchmark TR Net, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, HYDR returned -4.91%/yr vs -31.71%/yr for BITI. At a correlation of -0.33, they often move in opposite directions. HYDR charges 0.50%/yr vs 1.03%/yr for BITI.

Performance

HYDR vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Hydrogen ETF (HYDR) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYDR achieves a 34.40% return, which is significantly higher than BITI's 24.73% return.

HYDR

• 1D: 0.98%
• 1M: -23.44%
• 6M: 10.48%
• YTD: 34.40%
• 1Y: 87.00%
• 3Y*: -4.91%
• 5Y*: -17.28%
• 10Y*: —

BITI

• 1D: 0.20%
• 1M: -0.52%
• 6M: 36.51%
• YTD: 24.73%
• 1Y: 64.56%
• 3Y*: -31.71%
• 5Y*: —
• 10Y*: —

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

HYDR vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYDR Global X Hydrogen ETF	34.40%	43.73%	-33.08%	-36.49%	-11.62%
BITI ProShares Short Bitcoin ETF	24.73%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between HYDR and BITI is -0.43, 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	-0.43
Correlation (3Y) Calculated over the trailing 3-year period	-0.32
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.33

The correlation between HYDR and BITI shifts across timeframes, from -0.43 (1 year) to -0.32 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

HYDR vs. BITI — Risk / Return Rank

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

HYDR

HYDR Risk / Return Rank: 52
HYDR Sharpe Ratio Rank: 57
HYDR Sortino Ratio Rank: 58
HYDR Omega Ratio Rank: 51
HYDR Calmar Ratio Rank: 51
HYDR Martin Ratio Rank: 42

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 54
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 65
BITI Martin Ratio Rank: 48

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.

HYDR vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Hydrogen ETF (HYDR) 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.

	HYDR	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.47	+0.07
Sortino ratio: Return per unit of downside risk	2.22	2.04	+0.18
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.07	2.57	-0.50
Martin ratio: Return relative to average drawdown	5.34	6.36	-1.03

HYDR vs. BITI - Sharpe Ratio Comparison

The current HYDR Sharpe Ratio is 1.54, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of HYDR 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

HYDR vs. BITI - Drawdown Comparison

The maximum HYDR drawdown since its inception was -89.28%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for HYDR and BITI.

Drawdown Indicators

	HYDR	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-89.28%	-92.16%	+2.88%
Max Drawdown (1Y) Largest decline over 1 year	-42.31%	-25.28%	-17.03%
Max Drawdown (3Y) Largest decline over 3 years	-70.32%	-84.63%	+14.31%
Max Drawdown (5Y) Largest decline over 5 years	-89.28%	—	—
Current Drawdown Current decline from peak	-69.14%	-86.38%	+17.24%
Average Drawdown Average peak-to-trough decline	-64.14%	-68.42%	+4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.36%	10.18%	+6.18%

Volatility

HYDR vs. BITI - Volatility Comparison

Global X Hydrogen ETF (HYDR) has a higher volatility of 16.42% compared to ProShares Short Bitcoin ETF (BITI) at 10.69%. This indicates that HYDR'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

	HYDR	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.42%	10.69%	+5.73%
Volatility (6M) Calculated over the trailing 6-month period	40.87%	34.09%	+6.78%
Volatility (1Y) Calculated over the trailing 1-year period	56.71%	44.07%	+12.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.75%	52.21%	-4.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.72%	52.21%	-4.49%

HYDR vs. BITI - Expense Ratio Comparison

HYDR has a 0.50% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

HYDR vs. BITI - Dividend Comparison

HYDR's dividend yield for the trailing twelve months is around 3.11%, less than BITI's 15.59% yield.

Position	TTM	2025	2024	2023	2022	2021
BITI ProShares Short Bitcoin ETF	15.59%	1.60%	3.91%	3.33%	0.06%	0.00%
HYDR Global X Hydrogen ETF	3.11%	3.82%	0.40%	0.00%	0.00%	0.06%

Frequently Asked Questions

Can I hold both HYDR and BITI in my portfolio?

HYDR and BITI have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYDR or BITI?

HYDR has higher volatility (16.42%) compared to BITI (10.69%). In terms of maximum drawdown, HYDR dropped -89.28% vs BITI's -92.16%.

Which ETF is better, HYDR or BITI?

On 3-year performance, HYDR leads with -4.91% vs -31.71% for BITI. On fees, HYDR is cheaper at 0.50% per year. On volatility, BITI has been the lower-risk option at 10.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYDR or BITI?

Over the 3-year period, HYDR has performed better with a -4.91% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYDR or BITI?

HYDR is cheaper with a 0.50% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.59%, compared with 3.11% for HYDR.

What is the main difference between HYDR and BITI?

HYDR is categorized as Alternative Energy Equities, while BITI is Cryptocurrency. HYDR tracks Solactive Global Hydrogen Index - Benchmark TR Net, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.50% for HYDR and 1.03% for BITI.

Which has better risk-adjusted returns?

HYDR currently has the higher Sharpe Ratio (1.54 vs 1.47), 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.