JPSE vs. BITI
JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - JPSE is a Small Cap Growth Equities fund tracking the JPMorgan Diversified Factor US Small Cap Equity Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, JPSE returned 14.42%/yr vs -30.65%/yr for BITI. At a correlation of -0.37, they often move in opposite directions. JPSE charges 0.29%/yr vs 1.03%/yr for BITI.
Performance
JPSE vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, JPSE achieves a 19.12% return, which is significantly lower than BITI's 28.75% return.
JPSE
- 1D
- -0.29%
- 1M
- 0.13%
- 6M
- 12.72%
- YTD
- 19.12%
- 1Y
- 29.45%
- 3Y*
- 14.42%
- 5Y*
- 8.49%
- 10Y*
- —
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
JPSE vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 19.12% | 8.77% | 8.07% | 15.87% | 7.95% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between JPSE and BITI is -0.40, 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 | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.37 |
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Return for Risk
JPSE vs. BITI — Risk / Return Rank
JPSE
BITI
JPSE vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) 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.
| JPSE | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.26 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 2.72 | +0.98 |
| Martin ratioReturn relative to average drawdown | 13.20 | 6.78 | +6.42 |
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Drawdowns
JPSE vs. BITI - Drawdown Comparison
The maximum JPSE drawdown since its inception was -43.02%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for JPSE and BITI.
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Drawdown Indicators
| JPSE | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.02% | -92.16% | +49.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -25.28% | +17.28% |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | -84.63% | +59.14% |
Max Drawdown (5Y)Largest decline over 5 years | -25.56% | — | — |
Current DrawdownCurrent decline from peak | -1.30% | -85.94% | +84.64% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -68.34% | +60.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 10.11% | -7.87% |
Volatility
JPSE vs. BITI - Volatility Comparison
The current volatility for JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) is 3.57%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that JPSE 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
| JPSE | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 11.38% | -7.81% |
Volatility (6M)Calculated over the trailing 6-month period | 11.07% | 34.25% | -23.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.95% | 44.14% | -28.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.01% | 52.28% | -32.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.74% | 52.28% | -30.54% |
JPSE vs. BITI - Expense Ratio Comparison
JPSE has a 0.29% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
JPSE vs. BITI - Dividend Comparison
JPSE's dividend yield for the trailing twelve months is around 1.33%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 1.33% | 1.62% | 1.66% | 1.76% | 1.55% | 1.24% | 1.32% | 1.23% | 1.18% | 0.74% | 0.14% |
Frequently Asked Questions
JPSE and BITI have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.38%) compared to JPSE (3.57%). In terms of maximum drawdown, JPSE dropped -43.02% vs BITI's -92.16%.
On 3-year performance, JPSE leads with 14.42% vs -30.65% for BITI. On fees, JPSE is cheaper at 0.29% per year. On volatility, JPSE has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JPSE has performed better with a 14.42% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPSE is cheaper with a 0.29% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 1.33% for JPSE.
JPSE is categorized as Small Cap Growth Equities, while BITI is Cryptocurrency. JPSE tracks JPMorgan Diversified Factor US Small Cap Equity Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.29% for JPSE and 1.03% for BITI.
JPSE currently has the higher Sharpe Ratio (1.86 vs 1.56), 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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