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 7.47%/yr vs 22.22%/yr for BITO. Their 0.29 correlation means their historical movements had little consistent relationship. 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 2.31% return, which is significantly higher than BITO's -28.40% return.
IGHG
- 1D
- 0.10%
- 1M
- 0.05%
- 6M
- 1.42%
- YTD
- 2.31%
- 1Y
- 4.95%
- 3Y*
- 7.47%
- 5Y*
- 5.41%
- 10Y*
- 4.74%
- ALL TIME*
- 3.72%
BITO
- 1D
- 1.45%
- 1M
- 3.64%
- 6M
- -19.37%
- YTD
- -28.40%
- 1Y
- -45.62%
- 3Y*
- 22.22%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.59B | $2.59B | $2.08B | |
| $1.16M | $1.17M | $1.91M |
IGHG vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.31% | 5.65% | 9.20% | 11.58% | -0.90% | -1.12% |
BITO ProShares Bitcoin Strategy ETF | -28.40% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between IGHG and BITO is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.29 |
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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.
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.
| IGHG | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +3.78 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.83 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | -0.84 | +3.68 |
| Martin ratioReturn relative to average drawdown | 9.78 | -1.28 | +11.07 |
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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% | -54.47% | +52.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.74% | -54.47% | +50.73% |
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 | -0.07% | -50.61% | +50.54% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -37.19% | +34.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 35.62% | -35.11% |
Volatility
IGHG vs. BITO - Volatility Comparison
The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 0.59%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 8.72%. 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 | 0.59% | 8.72% | -8.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 33.49% | -31.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 44.21% | -40.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.99% | 54.58% | -49.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.30% | 54.58% | -47.28% |
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 47.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 47.03% | 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 (8.72%) compared to IGHG (0.59%). In terms of maximum drawdown, IGHG dropped -25.16% vs BITO's -77.86%.
On 3-year performance, BITO leads with 22.22% vs 7.47% for IGHG. On fees, IGHG is cheaper at 0.30% per year. On volatility, IGHG has been the lower-risk option at 0.59%. 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 22.22% return vs 7.47%. 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 47.03%, 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 (1.50 vs -1.04), 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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