JHPI vs. BITI
JHPI (John Hancock Preferred Income ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - JHPI is a Preferred Stock fund actively managed by John Hancock, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. JHPI is actively managed, while BITI is passively managed. Over the past 3 years, JHPI returned 8.56%/yr vs -32.35%/yr for BITI. Their -0.23 correlation means they have often moved in opposite directions in the past. JHPI charges 0.54%/yr vs 1.03%/yr for BITI.
Performance
JHPI vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, JHPI achieves a 1.91% return, which is significantly lower than BITI's 25.22% return.
JHPI
- 1D
- 0.22%
- 1M
- -0.11%
- 6M
- 0.77%
- YTD
- 1.91%
- 1Y
- 5.40%
- 3Y*
- 8.56%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.71%
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 | |
| $1.07M | $1.09M | $1.18M |
JHPI vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JHPI John Hancock Preferred Income ETF | 1.91% | 7.37% | 10.54% | 7.25% | 0.91% |
BITI ProShares Short Bitcoin ETF | 25.22% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between JHPI and BITI is -0.43, 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. | -0.43 |
Correlation (3Y) Balances recent behavior with more history. | -0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.23 |
Over the past year, the inverse relationship between JHPI and BITI has strengthened: their correlation has moved from -0.23 to -0.43, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
JHPI vs. BITI — Risk / Return Rank
JHPI
BITI
JHPI vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Preferred Income ETF (JHPI) 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.
| JHPI | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.22 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.24 | -0.47 |
| Martin ratioReturn relative to average drawdown | 6.42 | 5.45 | +0.97 |
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Drawdowns
JHPI vs. BITI - Drawdown Comparison
The maximum JHPI drawdown since its inception was -13.45%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for JHPI and BITI.
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Drawdown Indicators
| JHPI | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.45% | -92.16% | +78.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -25.28% | +22.20% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -84.63% | +79.38% |
Current DrawdownCurrent decline from peak | -0.52% | -86.33% | +85.81% |
Average DrawdownAverage peak-to-trough decline | -3.63% | -68.61% | +64.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 10.37% | -9.53% |
Volatility
JHPI vs. BITI - Volatility Comparison
The current volatility for John Hancock Preferred Income ETF (JHPI) is 0.83%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. This indicates that JHPI 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
| JHPI | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 8.93% | -8.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 33.35% | -30.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 44.25% | -40.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 52.01% | -45.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.21% | 52.01% | -45.80% |
JHPI vs. BITI - Expense Ratio Comparison
JHPI has a 0.54% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
JHPI vs. BITI - Dividend Comparison
JHPI's dividend yield for the trailing twelve months is around 5.88%, less than BITI's 21.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% |
JHPI John Hancock Preferred Income ETF | 5.88% | 5.73% | 6.32% | 6.44% | 6.27% | 0.24% |
Frequently Asked Questions
JHPI and BITI have a correlation of -0.43, 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 JHPI (0.83%). In terms of maximum drawdown, JHPI dropped -13.45% vs BITI's -92.16%.
On 3-year performance, JHPI leads with 8.56% vs -32.35% for BITI. On fees, JHPI is cheaper at 0.54% per year. On volatility, JHPI has been the lower-risk option at 0.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JHPI has performed better with a 8.56% return vs -32.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JHPI is cheaper with a 0.54% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 21.80%, compared with 5.88% for JHPI.
JHPI is categorized as Preferred Stock, while BITI is Cryptocurrency. They also come from different issuers: John Hancock and ProShares. Their fees differ too: 0.54% for JHPI and 1.03% for BITI.
JHPI currently has the higher Sharpe Ratio (1.61 vs 1.28), 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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