IBHL vs. SBIT
IBHL (iShares iBonds 2032 Term High Yield and Income ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - IBHL is a High Yield Bonds fund tracking the Bloomberg 2032 Term High Yield and Income Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, IBHL returned 5.21% vs 98.77% for SBIT. Their -0.39 correlation means they have often moved in opposite directions in the past. IBHL charges 0.35%/yr vs 0.95%/yr for SBIT.
Performance
IBHL vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IBHL achieves a 1.09% return, which is significantly lower than SBIT's 39.44% return.
IBHL
- 1D
- -0.18%
- 1M
- -0.51%
- 6M
- 0.62%
- YTD
- 1.09%
- 1Y
- 5.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.08%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $197.15K | $182.80K | $182.07K | |
| $29.57M | $32.71M | $46.48M |
IBHL vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBHL iShares iBonds 2032 Term High Yield and Income ETF | 1.09% | 8.46% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -22.92% |
Correlation
The correlation between IBHL and SBIT is -0.37, 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. | -0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | -0.39 |
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Return for Risk
IBHL vs. SBIT — Risk / Return Rank
IBHL
SBIT
IBHL vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2032 Term High Yield and Income ETF (IBHL) 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.
| IBHL | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.23 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.35 | -0.62 |
| Martin ratioReturn relative to average drawdown | 7.50 | 5.19 | +2.31 |
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Drawdowns
IBHL vs. SBIT - Drawdown Comparison
The maximum IBHL drawdown since its inception was -3.70%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for IBHL and SBIT.
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Drawdown Indicators
| IBHL | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.70% | -91.35% | +87.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -47.94% | +44.91% |
Current DrawdownCurrent decline from peak | -0.63% | -77.87% | +77.24% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -69.07% | +68.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 21.67% | -20.97% |
Volatility
IBHL vs. SBIT - Volatility Comparison
The current volatility for iShares iBonds 2032 Term High Yield and Income ETF (IBHL) is 1.38%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that IBHL 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.
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Volatility by Period
| IBHL | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 18.09% | -16.71% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 67.10% | -63.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 88.65% | -84.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 96.10% | -90.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 96.10% | -90.82% |
IBHL vs. SBIT - Expense Ratio Comparison
IBHL has a 0.35% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
IBHL vs. SBIT - Dividend Comparison
IBHL's dividend yield for the trailing twelve months is around 6.30%, more than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IBHL iShares iBonds 2032 Term High Yield and Income ETF | 5.74% | 4.90% | 0.00% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% |
Frequently Asked Questions
IBHL and SBIT 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.
SBIT has higher volatility (18.09%) compared to IBHL (1.38%). In terms of maximum drawdown, IBHL dropped -3.70% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 5.21% for IBHL. On fees, IBHL is cheaper at 0.35% per year. On volatility, IBHL has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHL is cheaper with a 0.35% expense ratio, compared with 0.95% for SBIT.
IBHL has the higher dividend yield at 5.74%, compared with 4.03% for SBIT.
IBHL is categorized as High Yield Bonds, while SBIT is Cryptocurrency. IBHL tracks Bloomberg 2032 Term High Yield and Income Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.35% for IBHL and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs 1.24), 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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