IPAV vs. SBIT

Last updated Aug 2, 2026

IPAV (Global X Infrastructure Development ex-U.S. ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - IPAV is a Infrastructure Equities fund tracking the Global X Infrastructure Development ex-U.S. Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, IPAV returned 18.18% vs 98.77% for SBIT. Their -0.34 correlation means they have often moved in opposite directions in the past. IPAV charges 0.55%/yr vs 0.95%/yr for SBIT.

Performance

IPAV vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Infrastructure Development ex-U.S. ETF (IPAV) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAV achieves a 6.95% return, which is significantly lower than SBIT's 39.44% return.

IPAV

• 1D: -0.47%
• 1M: -1.47%
• 6M: 0.92%
• YTD: 6.95%
• 1Y: 18.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.28%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IPAV Global X Infrastructure Development ex-U.S. ETF	$22.25K	$22.11K	$47.05K
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

IPAV vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPAV Global X Infrastructure Development ex-U.S. ETF	6.95%	29.77%	-6.87%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-66.10%

Correlation

The correlation between IPAV and SBIT is -0.40, 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.	-0.40
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	-0.34

Return for Risk

IPAV vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IPAV

IPAV Risk / Return Rank: 37
IPAV Sharpe Ratio Rank: 39
IPAV Sortino Ratio Rank: 40
IPAV Omega Ratio Rank: 39
IPAV Calmar Ratio Rank: 35
IPAV Martin Ratio Rank: 34

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IPAV vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Infrastructure Development ex-U.S. ETF (IPAV) 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.

	IPAV	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	0.97	1.27	-0.30
Sortino ratio: Return per unit of downside risk	1.50	1.95	-0.45
Omega ratio: Gain probability vs. loss probability	1.18	1.23	-0.05
Calmar ratio: Return relative to maximum drawdown	1.21	2.35	-1.14
Martin ratio: Return relative to average drawdown	3.32	5.19	-1.87

IPAV vs. SBIT - Sharpe Ratio Comparison

The current IPAV Sharpe Ratio is 0.97, which is comparable to the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of IPAV and SBIT, 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

IPAV vs. SBIT - Drawdown Comparison

The maximum IPAV drawdown since its inception was -14.59%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for IPAV and SBIT.

Drawdown Indicators

	IPAV	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-14.59%	-91.35%	+76.76%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-47.94%	+33.35%
Current Drawdown Current decline from peak	-10.75%	-77.87%	+67.12%
Average Drawdown Average peak-to-trough decline	-3.97%	-69.07%	+65.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	21.67%	-16.35%

Volatility

IPAV vs. SBIT - Volatility Comparison

The current volatility for Global X Infrastructure Development ex-U.S. ETF (IPAV) is 5.18%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that IPAV 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.

Volatility by Period

	IPAV	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.18%	18.09%	-12.91%
Volatility (6M) Calculated over the trailing 6-month period	16.26%	67.10%	-50.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	88.65%	-70.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	96.10%	-78.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	96.10%	-78.15%

IPAV vs. SBIT - Expense Ratio Comparison

IPAV has a 0.55% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

IPAV vs. SBIT - Dividend Comparison

IPAV's dividend yield for the trailing twelve months is around 1.52%, less than SBIT's 4.10% yield.

Position	TTM	2025	2024
IPAV Global X Infrastructure Development ex-U.S. ETF	1.52%	1.29%	0.31%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%

Frequently Asked Questions

Can I hold both IPAV and SBIT in my portfolio?

IPAV and SBIT have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPAV or SBIT?

SBIT has higher volatility (18.09%) compared to IPAV (5.18%). In terms of maximum drawdown, IPAV dropped -14.59% vs SBIT's -91.35%.

Which ETF is better, IPAV or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 18.18% for IPAV. On fees, IPAV is cheaper at 0.55% per year. On volatility, IPAV has been the lower-risk option at 5.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAV or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 18.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAV or SBIT?

IPAV is cheaper with a 0.55% expense ratio, compared with 0.95% for SBIT.

Which ETF pays a higher dividend yield, IPAV or SBIT?

SBIT has the higher dividend yield at 4.03%, compared with 1.52% for IPAV.

What is the main difference between IPAV and SBIT?

IPAV is categorized as Infrastructure Equities, while SBIT is Cryptocurrency. IPAV tracks Global X Infrastructure Development ex-U.S. Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.55% for IPAV and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.27 vs 0.97), 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.