JPSE vs. BITO
JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) and BITO (ProShares Bitcoin Strategy 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 BITO is a Cryptocurrency fund actively managed by ProShares. JPSE is passively managed, while BITO is actively managed. Over the past 3 years, JPSE returned 13.22%/yr vs 21.20%/yr for BITO. Their 0.40 correlation means their historical movements had little consistent relationship. JPSE charges 0.29%/yr vs 0.95%/yr for BITO.
Performance
JPSE vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, JPSE achieves a 18.80% return, which is significantly higher than BITO's -29.42% return.
JPSE
- 1D
- -0.26%
- 1M
- -0.80%
- 6M
- 12.05%
- YTD
- 18.80%
- 1Y
- 33.48%
- 3Y*
- 13.22%
- 5Y*
- 8.12%
- 10Y*
- —
- ALL TIME*
- 10.72%
BITO
- 1D
- -2.85%
- 1M
- 2.16%
- 6M
- -26.02%
- YTD
- -29.42%
- 1Y
- -46.40%
- 3Y*
- 21.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -5.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.89B | $2.63B | $2.08B | |
| $1.01M | $1.54M | $1.87M |
JPSE vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 18.80% | 8.77% | 8.07% | 15.87% | -14.40% | 3.32% |
BITO ProShares Bitcoin Strategy ETF | -29.42% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between JPSE and BITO is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.40 |
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Return for Risk
JPSE vs. BITO — Risk / Return Rank
JPSE
BITO
JPSE vs. BITO - 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 Bitcoin Strategy ETF (BITO). 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 | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.09 | ||
| Sortino ratioReturn per unit of downside risk | +4.61 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.81 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | -0.89 | +4.81 |
| Martin ratioReturn relative to average drawdown | 14.34 | -1.36 | +15.70 |
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Drawdowns
JPSE vs. BITO - Drawdown Comparison
The maximum JPSE drawdown since its inception was -43.02%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for JPSE and BITO.
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Drawdown Indicators
| JPSE | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.02% | -77.86% | +34.84% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -54.47% | +46.47% |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | -54.47% | +28.98% |
Max Drawdown (5Y)Largest decline over 5 years | -25.56% | — | — |
Current DrawdownCurrent decline from peak | -1.56% | -51.32% | +49.76% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -37.18% | +29.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 35.48% | -33.29% |
Volatility
JPSE vs. BITO - Volatility Comparison
The current volatility for JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) is 2.92%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 8.96%. This indicates that JPSE experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPSE | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 8.96% | -6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.81% | 33.45% | -22.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.76% | 44.19% | -28.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.91% | 54.60% | -34.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 54.60% | -32.91% |
JPSE vs. BITO - Expense Ratio Comparison
JPSE has a 0.29% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
JPSE vs. BITO - Dividend Comparison
JPSE's dividend yield for the trailing twelve months is around 1.33%, less than BITO's 61.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 47.47% | 78.29% | 61.59% | 15.14% | 0.00% | 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 BITO 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.
BITO has higher volatility (8.96%) compared to JPSE (2.92%). In terms of maximum drawdown, JPSE dropped -43.02% vs BITO's -77.86%.
On 3-year performance, BITO leads with 21.20% vs 13.22% for JPSE. On fees, JPSE is cheaper at 0.29% per year. On volatility, JPSE has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 21.20% return vs 13.22%. 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 0.95% for BITO.
BITO has the higher dividend yield at 47.47%, compared with 1.33% for JPSE.
JPSE is categorized as Small Cap Growth Equities, while BITO is Cryptocurrency. They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.29% for JPSE and 0.95% for BITO.
JPSE currently has the higher Sharpe Ratio (2.00 vs -1.09), 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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