IBAT vs. SBIT

Last updated Jul 14, 2026

IBAT (iShares Energy Storage & Materials ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - IBAT is a Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, IBAT returned 78.91% vs 124.12% for SBIT. At a correlation of -0.36, they often move in opposite directions. IBAT charges 0.47%/yr vs 0.95%/yr for SBIT.

Performance

IBAT vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Energy Storage & Materials ETF (IBAT) 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, IBAT achieves a 41.52% return, which is significantly lower than SBIT's 44.00% return.

IBAT

• 1D: -2.56%
• 1M: -6.67%
• 6M: 31.40%
• YTD: 41.52%
• 1Y: 78.91%
• 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)

IBAT vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBAT iShares Energy Storage & Materials ETF	41.52%	32.09%	-11.66%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between IBAT and SBIT is -0.42, 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	-0.42
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.36

Return for Risk

IBAT vs. SBIT — Risk / Return Rank

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

IBAT

IBAT Risk / Return Rank: 89
IBAT Sharpe Ratio Rank: 93
IBAT Sortino Ratio Rank: 85
IBAT Omega Ratio Rank: 86
IBAT Calmar Ratio Rank: 93
IBAT Martin Ratio Rank: 87

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.

IBAT vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Energy Storage & Materials ETF (IBAT) 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.

	IBAT	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.66	1.41	+1.24
Sortino ratio: Return per unit of downside risk	3.05	2.05	+1.00
Omega ratio: Gain probability vs. loss probability	1.42	1.25	+0.17
Calmar ratio: Return relative to maximum drawdown	5.14	2.60	+2.54
Martin ratio: Return relative to average drawdown	14.39	5.92	+8.47

IBAT vs. SBIT - Sharpe Ratio Comparison

The current IBAT Sharpe Ratio is 2.66, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of IBAT 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

IBAT vs. SBIT - Drawdown Comparison

The maximum IBAT drawdown since its inception was -28.26%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for IBAT and SBIT.

Drawdown Indicators

	IBAT	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-28.26%	-91.35%	+63.09%
Max Drawdown (1Y) Largest decline over 1 year	-15.42%	-47.94%	+32.52%
Current Drawdown Current decline from peak	-15.42%	-77.15%	+61.73%
Average Drawdown Average peak-to-trough decline	-7.76%	-68.83%	+61.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.50%	21.04%	-15.54%

Volatility

IBAT vs. SBIT - Volatility Comparison

The current volatility for iShares Energy Storage & Materials ETF (IBAT) is 13.12%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that IBAT 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

	IBAT	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	22.98%	-9.86%
Volatility (6M) Calculated over the trailing 6-month period	25.08%	68.89%	-43.81%
Volatility (1Y) Calculated over the trailing 1-year period	29.93%	88.51%	-58.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.43%	96.89%	-71.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	96.89%	-71.46%

IBAT vs. SBIT - Expense Ratio Comparison

IBAT has a 0.47% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

IBAT vs. SBIT - Dividend Comparison

IBAT's dividend yield for the trailing twelve months is around 0.75%, less than SBIT's 3.97% yield.

Position	TTM	2025	2024
IBAT iShares Energy Storage & Materials ETF	0.75%	1.15%	1.37%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both IBAT and SBIT in my portfolio?

IBAT and SBIT have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBAT or SBIT?

SBIT has higher volatility (22.98%) compared to IBAT (13.12%). In terms of maximum drawdown, IBAT dropped -28.26% vs SBIT's -91.35%.

Which ETF is better, IBAT or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 78.91% for IBAT. On fees, IBAT is cheaper at 0.47% per year. On volatility, IBAT has been the lower-risk option at 13.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBAT or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 78.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBAT or SBIT?

IBAT is cheaper with a 0.47% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 3.97%, compared with 0.75% for IBAT.

What is the main difference between IBAT and SBIT?

IBAT is categorized as Alternative Energy Equities, while SBIT is Cryptocurrency. IBAT tracks STOXX Global Energy Storage and Materials, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.47% for IBAT and 0.95% for SBIT.

Which has better risk-adjusted returns?

IBAT currently has the higher Sharpe Ratio (2.66 vs 1.41), 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.