JIRE vs. SBIT

Last updated Aug 2, 2026

JIRE (JPMorgan International Research Enhanced Equity ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - JIRE is a Foreign Large Cap Equities fund actively managed by JPMorgan, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). JIRE is actively managed, while SBIT is passively managed. Over the past year, JIRE returned 24.56% vs 98.77% for SBIT. Their -0.35 correlation means they have often moved in opposite directions in the past. JIRE charges 0.24%/yr vs 0.95%/yr for SBIT.

Performance

JIRE vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan International Research Enhanced Equity ETF (JIRE) 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, JIRE achieves a 11.46% return, which is significantly lower than SBIT's 39.44% return.

JIRE

• 1D: -0.63%
• 1M: 0.81%
• 6M: 6.22%
• YTD: 11.46%
• 1Y: 24.56%
• 3Y*: 16.20%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.98%

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)
JIRE JPMorgan International Research Enhanced Equity ETF	$46.29M	$36.24M	$38.13M
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

JIRE vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JIRE JPMorgan International Research Enhanced Equity ETF	11.46%	31.83%	-3.36%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-73.74%

Correlation

The correlation between JIRE and SBIT is -0.41, 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.	-0.41
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.35

Return for Risk

JIRE vs. SBIT — Risk / Return Rank

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

JIRE

JIRE Risk / Return Rank: 63
JIRE Sharpe Ratio Rank: 65
JIRE Sortino Ratio Rank: 67
JIRE Omega Ratio Rank: 63
JIRE Calmar Ratio Rank: 59
JIRE Martin Ratio Rank: 63

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.

JIRE vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Research Enhanced Equity ETF (JIRE) 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.

	JIRE	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.27	+0.24
Sortino ratio: Return per unit of downside risk	2.18	1.95	+0.23
Omega ratio: Gain probability vs. loss probability	1.27	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	2.07	2.35	-0.27
Martin ratio: Return relative to average drawdown	7.57	5.19	+2.38

JIRE vs. SBIT - Sharpe Ratio Comparison

The current JIRE Sharpe Ratio is 1.51, which is comparable to the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of JIRE 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

JIRE vs. SBIT - Drawdown Comparison

The maximum JIRE drawdown since its inception was -16.11%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for JIRE and SBIT.

Drawdown Indicators

	JIRE	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-16.11%	-91.35%	+75.24%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-47.94%	+36.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	—	—
Current Drawdown Current decline from peak	-0.63%	-77.87%	+77.24%
Average Drawdown Average peak-to-trough decline	-2.97%	-69.07%	+66.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	21.67%	-18.45%

Volatility

JIRE vs. SBIT - Volatility Comparison

The current volatility for JPMorgan International Research Enhanced Equity ETF (JIRE) is 4.81%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that JIRE 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

	JIRE	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	18.09%	-13.28%
Volatility (6M) Calculated over the trailing 6-month period	13.99%	67.10%	-53.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.17%	88.65%	-72.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.34%	96.10%	-79.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	96.10%	-79.76%

JIRE vs. SBIT - Expense Ratio Comparison

JIRE has a 0.24% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

JIRE vs. SBIT - Dividend Comparison

JIRE's dividend yield for the trailing twelve months is around 2.68%, less than SBIT's 4.10% yield.

Position	TTM	2025	2024	2023	2022
JIRE JPMorgan International Research Enhanced Equity ETF	2.68%	2.99%	3.03%	2.74%	2.62%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JIRE and SBIT in my portfolio?

JIRE and SBIT have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JIRE or SBIT?

SBIT has higher volatility (18.09%) compared to JIRE (4.81%). In terms of maximum drawdown, JIRE dropped -16.11% vs SBIT's -91.35%.

Which ETF is better, JIRE or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 24.56% for JIRE. On fees, JIRE is cheaper at 0.24% per year. On volatility, JIRE has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JIRE or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 24.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JIRE or SBIT?

JIRE is cheaper with a 0.24% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.03%, compared with 2.68% for JIRE.

What is the main difference between JIRE and SBIT?

JIRE is categorized as Foreign Large Cap Equities, while SBIT is Cryptocurrency. They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.24% for JIRE and 0.95% for SBIT.

Which has better risk-adjusted returns?

JIRE currently has the higher Sharpe Ratio (1.51 vs 1.27), 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.