IHAK vs. BITI

Last updated Jul 17, 2026

IHAK (iShares Cybersecurity & Tech ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - IHAK is a Technology Equities fund tracking the NYSE FactSet Global Cyber Security Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, IHAK returned 18.28%/yr vs -31.62%/yr for BITI. At a correlation of -0.33, they often move in opposite directions. IHAK charges 0.47%/yr vs 1.03%/yr for BITI.

Performance

IHAK vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Cybersecurity & Tech ETF (IHAK) 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, IHAK achieves a 31.85% return, which is significantly higher than BITI's 24.48% return.

IHAK

• 1D: -0.85%
• 1M: 13.66%
• 6M: 29.59%
• YTD: 31.85%
• 1Y: 23.65%
• 3Y*: 18.28%
• 5Y*: 8.42%
• 10Y*: —

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

IHAK vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IHAK iShares Cybersecurity & Tech ETF	31.85%	-1.29%	7.60%	37.77%	-3.47%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between IHAK and BITI is -0.35, 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	-0.35
Correlation (3Y) Calculated over the trailing 3-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.33

Return for Risk

IHAK vs. BITI — Risk / Return Rank

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

IHAK

IHAK Risk / Return Rank: 28
IHAK Sharpe Ratio Rank: 31
IHAK Sortino Ratio Rank: 30
IHAK Omega Ratio Rank: 30
IHAK Calmar Ratio Rank: 26
IHAK Martin Ratio Rank: 25

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
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.

IHAK vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Cybersecurity & Tech ETF (IHAK) 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.

	IHAK	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.47	-0.55
Sortino ratio: Return per unit of downside risk	1.39	2.04	-0.65
Omega ratio: Gain probability vs. loss probability	1.17	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	1.05	2.57	-1.52
Martin ratio: Return relative to average drawdown	2.52	6.38	-3.86

IHAK vs. BITI - Sharpe Ratio Comparison

The current IHAK Sharpe Ratio is 0.93, which is lower than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of IHAK 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

IHAK vs. BITI - Drawdown Comparison

The maximum IHAK drawdown since its inception was -34.42%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for IHAK and BITI.

Drawdown Indicators

	IHAK	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-34.42%	-92.16%	+57.74%
Max Drawdown (1Y) Largest decline over 1 year	-22.60%	-25.28%	+2.68%
Max Drawdown (3Y) Largest decline over 3 years	-23.48%	-84.63%	+61.15%
Max Drawdown (5Y) Largest decline over 5 years	-34.42%	—	—
Current Drawdown Current decline from peak	-2.82%	-86.41%	+83.59%
Average Drawdown Average peak-to-trough decline	-10.67%	-68.40%	+57.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.41%	10.16%	-0.75%

Volatility

IHAK vs. BITI - Volatility Comparison

The current volatility for iShares Cybersecurity & Tech ETF (IHAK) is 9.37%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that IHAK 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

	IHAK	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.37%	10.76%	-1.39%
Volatility (6M) Calculated over the trailing 6-month period	22.03%	34.28%	-12.25%
Volatility (1Y) Calculated over the trailing 1-year period	25.68%	44.15%	-18.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.98%	52.24%	-28.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	52.24%	-27.70%

IHAK vs. BITI - Expense Ratio Comparison

IHAK has a 0.47% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

IHAK vs. BITI - Dividend Comparison

IHAK's dividend yield for the trailing twelve months is around 0.07%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%
IHAK iShares Cybersecurity & Tech ETF	0.07%	0.08%	0.20%	0.13%	0.25%	0.50%	0.40%	0.50%

Frequently Asked Questions

Can I hold both IHAK and BITI in my portfolio?

IHAK and BITI have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHAK or BITI?

BITI has higher volatility (10.76%) compared to IHAK (9.37%). In terms of maximum drawdown, IHAK dropped -34.42% vs BITI's -92.16%.

Which ETF is better, IHAK or BITI?

On 3-year performance, IHAK leads with 18.28% vs -31.62% for BITI. On fees, IHAK is cheaper at 0.47% per year. On volatility, IHAK has been the lower-risk option at 9.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHAK or BITI?

Over the 3-year period, IHAK has performed better with a 18.28% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHAK or BITI?

IHAK is cheaper with a 0.47% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 0.07% for IHAK.

What is the main difference between IHAK and BITI?

IHAK is categorized as Technology Equities, while BITI is Cryptocurrency. IHAK tracks NYSE FactSet Global Cyber Security Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.47% for IHAK and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 0.93), 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.