IBHJ vs. BITI

Last updated Jul 14, 2026

IBHJ (iShares iBonds 2030 Term High Yield and Income ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - IBHJ is a High Yield Bonds fund tracking the Bloomberg 2030 Term High Yield and Income Index - Benchmark TR Gross, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, IBHJ returned 8.43%/yr vs -31.54%/yr for BITI. At a correlation of -0.31, they often move in opposite directions. IBHJ charges 0.35%/yr vs 1.03%/yr for BITI.

Performance

IBHJ vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2030 Term High Yield and Income ETF (IBHJ) 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, IBHJ achieves a 2.12% return, which is significantly lower than BITI's 23.84% return.

IBHJ

• 1D: -0.02%
• 1M: 0.23%
• 6M: 1.82%
• YTD: 2.12%
• 1Y: 6.49%
• 3Y*: 8.43%
• 5Y*: —
• 10Y*: —

BITI

• 1D: -3.81%
• 1M: -2.41%
• 6M: 34.02%
• YTD: 23.84%
• 1Y: 64.31%
• 3Y*: -31.54%
• 5Y*: —
• 10Y*: —

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

IBHJ vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBHJ iShares iBonds 2030 Term High Yield and Income ETF	2.12%	9.28%	7.32%	8.37%
BITI ProShares Short Bitcoin ETF	23.84%	-1.76%	-62.60%	-29.00%

Correlation

The correlation between IBHJ and BITI is -0.37, 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	-0.37
Correlation (3Y) Calculated over the trailing 3-year period	-0.31
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	-0.31

Return for Risk

IBHJ vs. BITI — Risk / Return Rank

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

IBHJ

IBHJ Risk / Return Rank: 66
IBHJ Sharpe Ratio Rank: 59
IBHJ Sortino Ratio Rank: 62
IBHJ Omega Ratio Rank: 62
IBHJ Calmar Ratio Rank: 67
IBHJ Martin Ratio Rank: 79

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 64
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.

IBHJ vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2030 Term High Yield and Income ETF (IBHJ) 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.

	IBHJ	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.46	+0.11
Sortino ratio: Return per unit of downside risk	2.31	2.03	+0.28
Omega ratio: Gain probability vs. loss probability	1.30	1.24	+0.06
Calmar ratio: Return relative to maximum drawdown	2.65	2.56	+0.09
Martin ratio: Return relative to average drawdown	11.90	6.37	+5.54

IBHJ vs. BITI - Sharpe Ratio Comparison

The current IBHJ Sharpe Ratio is 1.58, which is comparable to the BITI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of IBHJ 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

IBHJ vs. BITI - Drawdown Comparison

The maximum IBHJ drawdown since its inception was -4.93%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for IBHJ and BITI.

Drawdown Indicators

	IBHJ	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-4.93%	-92.16%	+87.23%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-25.28%	+22.82%
Max Drawdown (3Y) Largest decline over 3 years	-4.93%	-84.63%	+79.70%
Current Drawdown Current decline from peak	-0.62%	-86.48%	+85.86%
Average Drawdown Average peak-to-trough decline	-0.61%	-68.36%	+67.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	10.13%	-9.58%

Volatility

IBHJ vs. BITI - Volatility Comparison

The current volatility for iShares iBonds 2030 Term High Yield and Income ETF (IBHJ) is 1.02%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that IBHJ 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.

Volatility by Period

	IBHJ	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	11.73%	-10.71%
Volatility (6M) Calculated over the trailing 6-month period	3.32%	34.49%	-31.17%
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	44.24%	-40.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.88%	52.29%	-46.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.88%	52.29%	-46.41%

IBHJ vs. BITI - Expense Ratio Comparison

IBHJ has a 0.35% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

IBHJ vs. BITI - Dividend Comparison

IBHJ's dividend yield for the trailing twelve months is around 6.67%, less than BITI's 15.70% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.70%	1.60%	3.91%	3.33%	0.06%
IBHJ iShares iBonds 2030 Term High Yield and Income ETF	6.67%	6.64%	6.87%	3.66%	0.00%

Frequently Asked Questions

Can I hold both IBHJ and BITI in my portfolio?

IBHJ and BITI have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHJ or BITI?

BITI has higher volatility (11.73%) compared to IBHJ (1.02%). In terms of maximum drawdown, IBHJ dropped -4.93% vs BITI's -92.16%.

Which ETF is better, IBHJ or BITI?

On 3-year performance, IBHJ leads with 8.43% vs -31.54% for BITI. On fees, IBHJ is cheaper at 0.35% per year. On volatility, IBHJ has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHJ or BITI?

Over the 3-year period, IBHJ has performed better with a 8.43% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHJ or BITI?

IBHJ is cheaper with a 0.35% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.70%, compared with 6.67% for IBHJ.

What is the main difference between IBHJ and BITI?

IBHJ is categorized as High Yield Bonds, while BITI is Cryptocurrency. IBHJ tracks Bloomberg 2030 Term High Yield and Income Index - Benchmark TR Gross, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.35% for IBHJ and 1.03% for BITI.

Which has better risk-adjusted returns?

IBHJ currently has the higher Sharpe Ratio (1.58 vs 1.46), 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.