IAUM vs. BITI
IAUM (iShares Gold Trust Micro) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, IAUM returned 26.54%/yr vs -31.71%/yr for BITI. At a correlation of -0.16, they often move in opposite directions. IAUM charges 0.09%/yr vs 1.03%/yr for BITI.
Performance
IAUM vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, IAUM achieves a -6.96% return, which is significantly lower than BITI's 24.73% return.
IAUM
- 1D
- 0.91%
- 1M
- -5.21%
- 6M
- -12.43%
- YTD
- -6.96%
- 1Y
- 20.12%
- 3Y*
- 26.54%
- 5Y*
- 17.18%
- 10Y*
- —
BITI
- 1D
- 0.20%
- 1M
- -0.52%
- 6M
- 36.51%
- YTD
- 24.73%
- 1Y
- 64.56%
- 3Y*
- -31.71%
- 5Y*
- —
- 10Y*
- —
IAUM vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | -6.96% | 64.27% | 27.04% | 13.12% | -0.82% |
BITI ProShares Short Bitcoin ETF | 24.73% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between IAUM and BITI is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.16 |
The correlation between IAUM and BITI shifts across timeframes, from -0.27 (1 year) to -0.14 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IAUM vs. BITI — Risk / Return Rank
IAUM
BITI
IAUM vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) 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.
| IAUM | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.25 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 2.57 | -1.80 |
| Martin ratioReturn relative to average drawdown | 1.81 | 6.36 | -4.55 |
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Drawdowns
IAUM vs. BITI - Drawdown Comparison
The maximum IAUM drawdown since its inception was -26.31%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for IAUM and BITI.
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Drawdown Indicators
| IAUM | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.31% | -92.16% | +65.85% |
Max Drawdown (1Y)Largest decline over 1 year | -26.31% | -25.28% | -1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | -84.63% | +58.32% |
Max Drawdown (5Y)Largest decline over 5 years | -26.31% | — | — |
Current DrawdownCurrent decline from peak | -25.64% | -86.38% | +60.74% |
Average DrawdownAverage peak-to-trough decline | -5.72% | -68.42% | +62.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.12% | 10.18% | +0.94% |
Volatility
IAUM vs. BITI - Volatility Comparison
The current volatility for iShares Gold Trust Micro (IAUM) is 6.62%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.69%. This indicates that IAUM 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
| IAUM | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 10.69% | -4.07% |
Volatility (6M)Calculated over the trailing 6-month period | 23.91% | 34.09% | -10.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.69% | 44.07% | -16.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.25% | 52.21% | -33.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 52.21% | -34.04% |
IAUM vs. BITI - Expense Ratio Comparison
IAUM has a 0.09% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
IAUM vs. BITI - Dividend Comparison
IAUM has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.59% | 1.60% | 3.91% | 3.33% | 0.06% |
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAUM and BITI have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (10.69%) compared to IAUM (6.62%). In terms of maximum drawdown, IAUM dropped -26.31% vs BITI's -92.16%.
On 3-year performance, IAUM leads with 26.54% vs -31.71% for BITI. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 6.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IAUM has performed better with a 26.54% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.59%, compared with 0.00% for IAUM.
IAUM is categorized as Gold, while BITI is Cryptocurrency. IAUM tracks LBMA Gold Price PM, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.09% for IAUM and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.47 vs 0.73), 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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