JMOM vs. BITI
JMOM (JPMorgan U.S. Momentum Factor ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - JMOM is a Momentum fund tracking the JP Morgan US Momentum Factor Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, JMOM returned 24.75%/yr vs -31.62%/yr for BITI. At a correlation of -0.38, they often move in opposite directions. JMOM charges 0.12%/yr vs 1.03%/yr for BITI.
Performance
JMOM vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, JMOM achieves a 20.27% return, which is significantly lower than BITI's 24.48% return.
JMOM
- 1D
- -1.36%
- 1M
- -1.77%
- 6M
- 16.31%
- YTD
- 20.27%
- 1Y
- 28.65%
- 3Y*
- 24.75%
- 5Y*
- 14.79%
- 10Y*
- —
BITI
- 1D
- 1.13%
- 1M
- 1.49%
- 6M
- 35.86%
- YTD
- 24.48%
- 1Y
- 64.61%
- 3Y*
- -31.62%
- 5Y*
- —
- 10Y*
- —
JMOM vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JMOM JPMorgan U.S. Momentum Factor ETF | 20.27% | 18.02% | 28.47% | 22.89% | 8.18% |
BITI ProShares Short Bitcoin ETF | 24.48% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between JMOM and BITI is -0.46, 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 | -0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.38 |
The correlation between JMOM and BITI shifts across timeframes, from -0.46 (1 year) to -0.36 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMOM vs. BITI — Risk / Return Rank
JMOM
BITI
JMOM vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Momentum Factor ETF (JMOM) 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.
| JMOM | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 2.57 | +1.09 |
| Martin ratioReturn relative to average drawdown | 15.59 | 6.38 | +9.22 |
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Drawdowns
JMOM vs. BITI - Drawdown Comparison
The maximum JMOM drawdown since its inception was -34.31%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for JMOM and BITI.
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Drawdown Indicators
| JMOM | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -92.16% | +57.85% |
Max Drawdown (1Y)Largest decline over 1 year | -7.87% | -25.28% | +17.41% |
Max Drawdown (3Y)Largest decline over 3 years | -19.51% | -84.63% | +65.12% |
Max Drawdown (5Y)Largest decline over 5 years | -28.26% | — | — |
Current DrawdownCurrent decline from peak | -4.43% | -86.41% | +81.98% |
Average DrawdownAverage peak-to-trough decline | -6.26% | -68.40% | +62.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 10.16% | -8.32% |
Volatility
JMOM vs. BITI - Volatility Comparison
The current volatility for JPMorgan U.S. Momentum Factor ETF (JMOM) is 5.75%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that JMOM 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
| JMOM | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.75% | 10.76% | -5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.60% | 34.28% | -20.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.04% | 44.15% | -28.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.94% | 52.24% | -33.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 52.24% | -32.06% |
JMOM vs. BITI - Expense Ratio Comparison
JMOM has a 0.12% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
JMOM vs. BITI - Dividend Comparison
JMOM's dividend yield for the trailing twelve months is around 0.75%, less than BITI's 15.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.62% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JMOM JPMorgan U.S. Momentum Factor ETF | 0.75% | 0.86% | 0.75% | 1.21% | 1.39% | 0.64% | 0.85% | 1.11% | 1.38% | 0.29% |
Frequently Asked Questions
JMOM and BITI have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (10.76%) compared to JMOM (5.75%). In terms of maximum drawdown, JMOM dropped -34.31% vs BITI's -92.16%.
On 3-year performance, JMOM leads with 24.75% vs -31.62% for BITI. On fees, JMOM is cheaper at 0.12% per year. On volatility, JMOM has been the lower-risk option at 5.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JMOM has performed better with a 24.75% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JMOM is cheaper with a 0.12% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.62%, compared with 0.75% for JMOM.
JMOM is categorized as Momentum, while BITI is Cryptocurrency. JMOM tracks JP Morgan US Momentum Factor Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.12% for JMOM and 1.03% for BITI.
JMOM currently has the higher Sharpe Ratio (1.79 vs 1.47), 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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