HYIN vs. SBIT

Last updated Aug 2, 2026

HYIN (WisdomTree Alternative Income Fund) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, HYIN returned -7.52% vs 98.77% for SBIT. Their -0.27 correlation means they have often moved in opposite directions in the past. HYIN charges 3.20%/yr vs 0.95%/yr for SBIT.

Performance

HYIN vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Alternative Income Fund (HYIN) 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, HYIN achieves a -6.19% return, which is significantly lower than SBIT's 39.44% return.

HYIN

• 1D: -0.11%
• 1M: -1.50%
• 6M: -6.46%
• YTD: -6.19%
• 1Y: -7.52%
• 3Y*: 1.49%
• 5Y*: -0.50%
• 10Y*: —
• ALL TIME*: -0.19%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYIN WisdomTree Alternative Income Fund	$324.60K	$259.01K	$307.24K
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

HYIN vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYIN WisdomTree Alternative Income Fund	-6.19%	-0.46%	5.65%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-73.74%

Correlation

The correlation between HYIN and SBIT is -0.31, 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.	-0.31
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.27

Return for Risk

HYIN vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HYIN

HYIN Risk / Return Rank: 5
HYIN Sharpe Ratio Rank: 4
HYIN Sortino Ratio Rank: 4
HYIN Omega Ratio Rank: 4
HYIN Calmar Ratio Rank: 5
HYIN Martin Ratio Rank: 5

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HYIN vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) 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.

	HYIN	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	1.27	-1.87
Sortino ratio: Return per unit of downside risk	-0.76	1.95	-2.71
Omega ratio: Gain probability vs. loss probability	0.92	1.23	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.50	2.35	-2.85
Martin ratio: Return relative to average drawdown	-0.91	5.19	-6.10

HYIN vs. SBIT - Sharpe Ratio Comparison

The current HYIN Sharpe Ratio is -0.60, which is lower than the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of HYIN 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

HYIN vs. SBIT - Drawdown Comparison

The maximum HYIN drawdown since its inception was -31.10%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for HYIN and SBIT.

Drawdown Indicators

	HYIN	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-31.10%	-91.35%	+60.25%
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	-47.94%	+32.42%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.10%	—	—
Current Drawdown Current decline from peak	-11.96%	-77.87%	+65.91%
Average Drawdown Average peak-to-trough decline	-9.09%	-69.07%	+59.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.52%	21.67%	-13.15%

Volatility

HYIN vs. SBIT - Volatility Comparison

The current volatility for WisdomTree Alternative Income Fund (HYIN) is 3.68%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that HYIN 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

	HYIN	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	18.09%	-14.41%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	67.10%	-56.74%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	88.65%	-75.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	96.10%	-79.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	96.10%	-79.43%

HYIN vs. SBIT - Expense Ratio Comparison

HYIN has a 3.20% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

HYIN vs. SBIT - Dividend Comparison

HYIN's dividend yield for the trailing twelve months is around 13.55%, more than SBIT's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021
HYIN WisdomTree Alternative Income Fund	13.55%	12.58%	12.59%	11.71%	11.34%	4.13%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYIN and SBIT in my portfolio?

HYIN and SBIT have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYIN or SBIT?

SBIT has higher volatility (18.09%) compared to HYIN (3.68%). In terms of maximum drawdown, HYIN dropped -31.10% vs SBIT's -91.35%.

Which ETF is better, HYIN or SBIT?

On 1-year performance, SBIT leads with 98.77% vs -7.52% for HYIN. On fees, SBIT is cheaper at 0.95% per year. On volatility, HYIN has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYIN or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs -7.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYIN or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 3.20% for HYIN.

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

HYIN has the higher dividend yield at 13.55%, compared with 4.03% for SBIT.

What is the main difference between HYIN and SBIT?

HYIN is categorized as Diversified Portfolio, while SBIT is Cryptocurrency. HYIN tracks Gapstow Liquid Alternative Credit Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 3.20% for HYIN and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.27 vs -0.60), 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.