JULH vs. BITI

Last updated Aug 2, 2026

JULH (Innovator Premium Income 20 Barrier ETF - July) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - JULH is a Options Trading fund actively managed by Innovator, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. JULH is actively managed, while BITI is passively managed. Over the past 3 years, JULH returned 6.27%/yr vs -31.77%/yr for BITI. Their -0.29 correlation means they have often moved in opposite directions in the past. JULH charges 0.79%/yr vs 1.03%/yr for BITI.

Performance

JULH vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 20 Barrier ETF - July (JULH) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULH achieves a 2.88% return, which is significantly lower than BITI's 27.11% return.

JULH

• 1D: 0.19%
• 1M: 0.55%
• 6M: 2.51%
• YTD: 2.88%
• 1Y: 5.02%
• 3Y*: 6.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.44%

BITI

• 1D: 3.01%
• 1M: -2.58%
• 6M: 22.77%
• YTD: 27.11%
• 1Y: 58.64%
• 3Y*: -31.77%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.65%

*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)
BITI ProShares Short Bitcoin ETF	$24.10M	$26.49M	$38.71M
JULH Innovator Premium Income 20 Barrier ETF - July	$110.18K	$127.48K	$148.19K

JULH vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JULH Innovator Premium Income 20 Barrier ETF - July	2.88%	5.39%	6.93%	4.51%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-62.60%	-28.97%

Correlation

The correlation between JULH and BITI is -0.42, 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.	-0.42
Correlation (3Y) Balances recent behavior with more history.	-0.29
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023	-0.29

The correlation between JULH and BITI shifts across timeframes, from -0.42 (1 year) to -0.29 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JULH vs. BITI — Risk / Return Rank

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

JULH

JULH Risk / Return Rank: 72
JULH Sharpe Ratio Rank: 71
JULH Sortino Ratio Rank: 63
JULH Omega Ratio Rank: 88
JULH Calmar Ratio Rank: 77
JULH Martin Ratio Rank: 58

BITI

BITI Risk / Return Rank: 61
BITI Sharpe Ratio Rank: 63
BITI Sortino Ratio Rank: 60
BITI Omega Ratio Rank: 55
BITI Calmar Ratio Rank: 73
BITI Martin Ratio Rank: 53

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.

JULH vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 20 Barrier ETF - July (JULH) 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.

	JULH	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.45	+0.20
Sortino ratio: Return per unit of downside risk	2.11	2.02	+0.09
Omega ratio: Gain probability vs. loss probability	1.40	1.24	+0.16
Calmar ratio: Return relative to maximum drawdown	2.78	2.53	+0.25
Martin ratio: Return relative to average drawdown	7.00	6.17	+0.82

JULH vs. BITI - Sharpe Ratio Comparison

The current JULH Sharpe Ratio is 1.65, which is comparable to the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of JULH and BITI, 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

JULH vs. BITI - Drawdown Comparison

The maximum JULH drawdown since its inception was -5.51%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for JULH and BITI.

Drawdown Indicators

	JULH	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-5.51%	-92.16%	+86.65%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-25.28%	+23.56%
Max Drawdown (3Y) Largest decline over 3 years	-5.51%	-84.63%	+79.12%
Current Drawdown Current decline from peak	0.00%	-86.12%	+86.12%
Average Drawdown Average peak-to-trough decline	-0.27%	-68.59%	+68.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	10.35%	-9.67%

Volatility

JULH vs. BITI - Volatility Comparison

The current volatility for Innovator Premium Income 20 Barrier ETF - July (JULH) is 0.90%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that JULH 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.

Volatility by Period

	JULH	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	9.13%	-8.23%
Volatility (6M) Calculated over the trailing 6-month period	1.66%	33.31%	-31.65%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	44.23%	-41.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.66%	52.03%	-47.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.66%	52.03%	-47.37%

JULH vs. BITI - Expense Ratio Comparison

JULH has a 0.79% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

JULH vs. BITI - Dividend Comparison

JULH's dividend yield for the trailing twelve months is around 4.77%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%
JULH Innovator Premium Income 20 Barrier ETF - July	4.77%	5.31%	6.89%	3.67%	0.00%

Frequently Asked Questions

Can I hold both JULH and BITI in my portfolio?

JULH and BITI have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULH or BITI?

BITI has higher volatility (9.13%) compared to JULH (0.90%). In terms of maximum drawdown, JULH dropped -5.51% vs BITI's -92.16%.

Which ETF is better, JULH or BITI?

On 3-year performance, JULH leads with 6.27% vs -31.77% for BITI. On fees, JULH is cheaper at 0.79% per year. On volatility, JULH has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULH or BITI?

Over the 3-year period, JULH has performed better with a 6.27% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULH or BITI?

JULH is cheaper with a 0.79% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, JULH or BITI?

BITI has the higher dividend yield at 15.17%, compared with 4.77% for JULH.

What is the main difference between JULH and BITI?

JULH is categorized as Options Trading, while BITI is Cryptocurrency. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for JULH and 1.03% for BITI.

Which has better risk-adjusted returns?

JULH currently has the higher Sharpe Ratio (1.65 vs 1.45), 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.