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 7.73%/yr vs -32.35%/yr for BITI. Their -0.38 correlation means they have often moved in opposite directions in the past. 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 -7.07% return, which is significantly lower than BITI's 25.22% return.
IVRS
- 1D
- 2.16%
- 1M
- 0.63%
- 6M
- -1.65%
- YTD
- -7.07%
- 1Y
- -11.56%
- 3Y*
- 7.73%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.16%
BITI
- 1D
- -1.48%
- 1M
- -4.03%
- 6M
- 13.09%
- YTD
- 25.22%
- 1Y
- 56.28%
- 3Y*
- -32.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.18M | $25.87M | $38.72M | |
| $45.64K | $34.99K | $21.63K |
IVRS vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | -7.07% | 12.75% | 7.40% | 28.15% |
BITI ProShares Short Bitcoin ETF | 25.22% | -1.76% | -62.60% | -48.94% |
Correlation
The correlation between IVRS and BITI is -0.57, 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. | -0.57 |
Correlation (3Y) Balances recent behavior with more history. | -0.40 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023 | -0.38 |
The correlation between IVRS and BITI shifts across timeframes, from -0.57 (1 year) to -0.38 (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 | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.22 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 2.24 | -2.61 |
| Martin ratioReturn relative to average drawdown | -0.69 | 5.45 | -6.14 |
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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 | -20.06% | -86.33% | +66.27% |
Average DrawdownAverage peak-to-trough decline | -6.51% | -68.61% | +62.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.79% | 10.37% | +6.42% |
Volatility
IVRS vs. BITI - Volatility Comparison
The current volatility for iShares Future Metaverse Tech And Communications ETF (IVRS) is 7.97%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. 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 | 7.97% | 8.93% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 19.96% | 33.35% | -13.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.89% | 44.25% | -20.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.88% | 52.01% | -31.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.88% | 52.01% | -31.13% |
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 8.62%, less than BITI's 21.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% |
IVRS iShares Future Metaverse Tech And Communications ETF | 8.62% | 7.88% | 6.65% | 0.48% | 0.00% |
Frequently Asked Questions
IVRS and BITI have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (8.93%) compared to IVRS (7.97%). In terms of maximum drawdown, IVRS dropped -31.43% vs BITI's -92.16%.
On 3-year performance, IVRS leads with 7.73% vs -32.35% for BITI. On fees, IVRS is cheaper at 0.47% per year. On volatility, IVRS has been the lower-risk option at 7.97%. 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 7.73% return vs -32.35%. 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 21.80%, compared with 8.62% 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 (1.28 vs -0.49), 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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