IPAC vs. SBIT
IPAC (iShares Core MSCI Pacific ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - IPAC is a Asia Pacific Equities fund tracking the MSCI Pacific IMI Index (Net), while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, IPAC returned 26.06% vs 98.77% for SBIT. Their -0.32 correlation means they have often moved in opposite directions in the past. IPAC charges 0.09%/yr vs 0.95%/yr for SBIT.
Performance
IPAC vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IPAC achieves a 14.24% return, which is significantly lower than SBIT's 39.44% return.
IPAC
- 1D
- -0.96%
- 1M
- 0.87%
- 6M
- 7.59%
- YTD
- 14.24%
- 1Y
- 26.06%
- 3Y*
- 16.33%
- 5Y*
- 8.37%
- 10Y*
- 8.82%
- ALL TIME*
- 7.31%
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) |
|---|---|---|---|
| $5.46M | $8.24M | $8.98M | |
| $29.57M | $32.71M | $46.48M |
IPAC vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IPAC iShares Core MSCI Pacific ETF | 14.24% | 25.16% | 0.65% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between IPAC and SBIT is -0.41, 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. | -0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.32 |
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Return for Risk
IPAC vs. SBIT — Risk / Return Rank
IPAC
SBIT
IPAC vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Pacific ETF (IPAC) 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.
| IPAC | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.23 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 2.35 | -0.02 |
| Martin ratioReturn relative to average drawdown | 8.11 | 5.19 | +2.93 |
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Drawdowns
IPAC vs. SBIT - Drawdown Comparison
The maximum IPAC drawdown since its inception was -30.99%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for IPAC and SBIT.
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Drawdown Indicators
| IPAC | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.99% | -91.35% | +60.36% |
Max Drawdown (1Y)Largest decline over 1 year | -11.49% | -47.94% | +36.45% |
Max Drawdown (3Y)Largest decline over 3 years | -15.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.99% | — | — |
Current DrawdownCurrent decline from peak | -1.71% | -77.87% | +76.16% |
Average DrawdownAverage peak-to-trough decline | -7.41% | -69.07% | +61.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 21.67% | -18.38% |
Volatility
IPAC vs. SBIT - Volatility Comparison
The current volatility for iShares Core MSCI Pacific ETF (IPAC) is 5.93%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that IPAC 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
| IPAC | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 18.09% | -12.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.93% | 67.10% | -52.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.58% | 88.65% | -71.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.89% | 96.10% | -79.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 96.10% | -79.45% |
IPAC vs. SBIT - Expense Ratio Comparison
IPAC has a 0.09% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
IPAC vs. SBIT - Dividend Comparison
IPAC's dividend yield for the trailing twelve months is around 3.86%, less than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPAC iShares Core MSCI Pacific ETF | 3.86% | 4.32% | 3.43% | 3.16% | 2.76% | 4.03% | 1.68% | 3.37% | 2.95% | 2.98% | 2.66% | 2.60% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IPAC and SBIT have a correlation of -0.41, 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 IPAC (5.93%). In terms of maximum drawdown, IPAC dropped -30.99% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 26.06% for IPAC. On fees, IPAC is cheaper at 0.09% per year. On volatility, IPAC has been the lower-risk option at 5.93%. 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 26.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IPAC is cheaper with a 0.09% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 3.86% for IPAC.
IPAC is categorized as Asia Pacific Equities, while SBIT is Cryptocurrency. IPAC tracks MSCI Pacific IMI Index (Net), while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.09% for IPAC and 0.95% for SBIT.
IPAC currently has the higher Sharpe Ratio (1.52 vs 1.27), 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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