IGHG vs. BITO
IGHG (ProShares Investment Grade-Interest Rate Hedged) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - IGHG is a Corporate Bonds fund tracking the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while BITO is a Cryptocurrency fund actively managed by ProShares. IGHG is passively managed, while BITO is actively managed. Over the past 3 years, IGHG returned 8.57%/yr vs 25.27%/yr for BITO. At a 0.29 correlation, their price movements are largely independent. IGHG charges 0.30%/yr vs 0.95%/yr for BITO.
Performance
IGHG vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, IGHG achieves a 2.17% return, which is significantly higher than BITO's -26.37% return.
IGHG
- 1D
- 0.05%
- 1M
- 0.76%
- YTD
- 2.17%
- 6M
- 2.54%
- 1Y
- 5.77%
- 3Y*
- 8.57%
- 5Y*
- 5.24%
- 10Y*
- 4.72%
BITO
- 1D
- -2.94%
- 1M
- -18.61%
- YTD
- -26.37%
- 6M
- -30.81%
- 1Y
- -41.01%
- 3Y*
- 25.27%
- 5Y*
- —
- 10Y*
- —
IGHG vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.17% | 5.65% | 9.20% | 11.58% | -0.90% | -1.12% |
BITO ProShares Bitcoin Strategy ETF | -26.37% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Correlation
The correlation between IGHG and BITO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021 | 0.29 |
The correlation between IGHG and BITO shifts across timeframes, from 0.20 (3 years) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGHG vs. BITO — Risk / Return Rank
IGHG
BITO
IGHG vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) and ProShares Bitcoin Strategy ETF (BITO). 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.
| IGHG | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.63 | ||
| Sortino ratioReturn per unit of downside risk | +3.88 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.85 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | -0.82 | +4.13 |
| Martin ratioReturn relative to average drawdown | 11.71 | -1.41 | +13.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGHG | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | -0.95 | +2.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | -0.09 | +0.63 |
Drawdowns
IGHG vs. BITO - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for IGHG and BITO.
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Drawdown Indicators
| IGHG | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -77.86% | +52.70% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -50.05% | +48.30% |
Max Drawdown (3Y)Largest decline over 3 years | -3.74% | -50.05% | +46.31% |
Max Drawdown (5Y)Largest decline over 5 years | -8.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -49.22% | +49.11% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -36.73% | +34.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 29.09% | -28.59% |
Volatility
IGHG vs. BITO - Volatility Comparison
The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 0.62%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 9.43%. This indicates that IGHG experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGHG | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 9.43% | -8.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 34.26% | -31.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 43.57% | -40.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 55.11% | -50.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 55.11% | -47.65% |
IGHG vs. BITO - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
IGHG vs. BITO - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.11%, less than BITO's 67.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 67.63% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.11% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
Frequently Asked Questions
IGHG and BITO 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.
BITO has higher volatility (9.43%) compared to IGHG (0.62%). In terms of maximum drawdown, IGHG dropped -25.16% vs BITO's -77.86%.
On 3-year performance, BITO leads with 25.27% vs 8.57% for IGHG. On fees, IGHG is cheaper at 0.30% per year. On volatility, IGHG has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 25.27% return vs 8.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGHG is cheaper with a 0.30% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 67.63%, compared with 5.11% for IGHG.
IGHG is categorized as Corporate Bonds, while BITO is Cryptocurrency. Their fees differ too: 0.30% for IGHG and 0.95% for BITO.
IGHG currently has the higher Sharpe Ratio (1.68 vs -0.94), 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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