JEMA vs. BITI
JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - JEMA is a Emerging Markets Equities fund actively managed by JPMorgan, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. JEMA is actively managed, while BITI is passively managed. Over the past 3 years, JEMA returned 19.25%/yr vs -31.77%/yr for BITI. Their -0.34 correlation means they have often moved in opposite directions in the past. JEMA charges 0.39%/yr vs 1.03%/yr for BITI.
Performance
JEMA vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, JEMA achieves a 20.95% return, which is significantly lower than BITI's 27.11% return.
JEMA
- 1D
- 0.56%
- 1M
- -3.42%
- 6M
- 11.38%
- YTD
- 20.95%
- 1Y
- 41.92%
- 3Y*
- 19.25%
- 5Y*
- 6.81%
- 10Y*
- —
- ALL TIME*
- 5.78%
BITI
- 1D
- 3.01%
- 1M
- -2.58%
- 6M
- 22.77%
- YTD
- 27.11%
- 1Y
- 58.64%
- 3Y*
- -31.77%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.10M | $26.49M | $38.71M | |
| $13.60M | $9.15M | $8.02M |
JEMA vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF | 20.95% | 34.89% | 5.68% | 9.82% | -3.61% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between JEMA and BITI is -0.48, 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. | -0.48 |
Correlation (3Y) Balances recent behavior with more history. | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.34 |
The correlation between JEMA and BITI shifts across timeframes, from -0.48 (1 year) to -0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JEMA vs. BITI — Risk / Return Rank
JEMA
BITI
JEMA vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) 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.
| JEMA | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 2.53 | +0.28 |
| Martin ratioReturn relative to average drawdown | 9.36 | 6.17 | +3.19 |
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Drawdowns
JEMA vs. BITI - Drawdown Comparison
The maximum JEMA drawdown since its inception was -39.50%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for JEMA and BITI.
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Drawdown Indicators
| JEMA | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.50% | -92.16% | +52.66% |
Max Drawdown (1Y)Largest decline over 1 year | -14.65% | -25.28% | +10.63% |
Max Drawdown (3Y)Largest decline over 3 years | -18.11% | -84.63% | +66.52% |
Max Drawdown (5Y)Largest decline over 5 years | -37.46% | — | — |
Current DrawdownCurrent decline from peak | -10.55% | -86.12% | +75.57% |
Average DrawdownAverage peak-to-trough decline | -16.72% | -68.59% | +51.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 10.35% | -5.96% |
Volatility
JEMA vs. BITI - Volatility Comparison
JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and ProShares Short Bitcoin ETF (BITI) have volatilities of 9.42% and 9.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JEMA | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.42% | 9.13% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 22.58% | 33.31% | -10.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.72% | 44.23% | -19.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.97% | 52.03% | -32.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.70% | 52.03% | -32.33% |
JEMA vs. BITI - Expense Ratio Comparison
JEMA has a 0.39% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
JEMA vs. BITI - Dividend Comparison
JEMA's dividend yield for the trailing twelve months is around 2.42%, less than BITI's 15.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% |
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF | 2.42% | 2.93% | 2.44% | 2.95% | 2.69% | 1.54% |
Frequently Asked Questions
JEMA and BITI have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEMA has higher volatility (9.42%) compared to BITI (9.13%). In terms of maximum drawdown, JEMA dropped -39.50% vs BITI's -92.16%.
On 3-year performance, JEMA leads with 19.25% vs -31.77% for BITI. On fees, JEMA is cheaper at 0.39% per year. On volatility, BITI has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JEMA has performed better with a 19.25% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JEMA is cheaper with a 0.39% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 2.42% for JEMA.
JEMA is categorized as Emerging Markets Equities, while BITI is Cryptocurrency. They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.39% for JEMA and 1.03% for BITI.
JEMA currently has the higher Sharpe Ratio (1.67 vs 1.45), 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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