IVRS vs. BITI
IVRS (iShares Future Metaverse Tech And Communications ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - IVRS is a Technology Equities fund tracking the Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, IVRS returned 6.53%/yr vs -31.54%/yr for BITI. At a correlation of -0.37, they often move in opposite directions. IVRS charges 0.47%/yr vs 1.03%/yr for BITI.
Performance
IVRS vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, IVRS achieves a -6.53% return, which is significantly lower than BITI's 23.84% return.
IVRS
- 1D
- 0.40%
- 1M
- 2.26%
- 6M
- -11.70%
- YTD
- -6.53%
- 1Y
- -8.77%
- 3Y*
- 6.53%
- 5Y*
- —
- 10Y*
- —
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
IVRS vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | -6.53% | 12.75% | 7.40% | 28.15% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -62.60% | -48.94% |
Correlation
The correlation between IVRS and BITI is -0.56, 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 | -0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023 | -0.37 |
The correlation between IVRS and BITI shifts across timeframes, from -0.56 (1 year) to -0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IVRS vs. BITI — Risk / Return Rank
IVRS
BITI
IVRS vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future Metaverse Tech And Communications ETF (IVRS) 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.
| IVRS | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.24 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.56 | -2.84 |
| Martin ratioReturn relative to average drawdown | -0.55 | 6.37 | -6.91 |
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Drawdowns
IVRS vs. BITI - Drawdown Comparison
The maximum IVRS drawdown since its inception was -31.43%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for IVRS and BITI.
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Drawdown Indicators
| IVRS | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.43% | -92.16% | +60.73% |
Max Drawdown (1Y)Largest decline over 1 year | -31.43% | -25.28% | -6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -31.43% | -84.63% | +53.20% |
Current DrawdownCurrent decline from peak | -19.59% | -86.48% | +66.89% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -68.36% | +62.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.05% | 10.13% | +5.92% |
Volatility
IVRS vs. BITI - Volatility Comparison
The current volatility for iShares Future Metaverse Tech And Communications ETF (IVRS) is 6.49%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that IVRS 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.
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Volatility by Period
| IVRS | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.49% | 11.73% | -5.24% |
Volatility (6M)Calculated over the trailing 6-month period | 19.98% | 34.49% | -14.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.11% | 44.24% | -21.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.72% | 52.29% | -31.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.72% | 52.29% | -31.57% |
IVRS vs. BITI - Expense Ratio Comparison
IVRS has a 0.47% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
IVRS vs. BITI - Dividend Comparison
IVRS's dividend yield for the trailing twelve months is around 8.57%, less than BITI's 15.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.70% | 1.60% | 3.91% | 3.33% | 0.06% |
IVRS iShares Future Metaverse Tech And Communications ETF | 8.57% | 7.88% | 6.65% | 0.48% | 0.00% |
Frequently Asked Questions
IVRS and BITI have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.73%) compared to IVRS (6.49%). In terms of maximum drawdown, IVRS dropped -31.43% vs BITI's -92.16%.
On 3-year performance, IVRS leads with 6.53% vs -31.54% for BITI. On fees, IVRS is cheaper at 0.47% per year. On volatility, IVRS has been the lower-risk option at 6.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IVRS has performed better with a 6.53% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVRS is cheaper with a 0.47% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 8.57% for IVRS.
IVRS is categorized as Technology Equities, while BITI is Cryptocurrency. IVRS tracks Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.47% for IVRS and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.46 vs -0.38), 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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