JXX vs. SBIT

Last updated Jul 31, 2026

JXX (Janus Henderson Transformational Growth ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - JXX is a Large Cap Growth Equities fund actively managed by Janus Henderson, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). JXX is actively managed, while SBIT is passively managed. Over the past year, JXX returned 13.37% vs 101.12% for SBIT. Their -0.45 correlation means they have often moved in opposite directions in the past. JXX charges 0.57%/yr vs 0.95%/yr for SBIT.

Performance

JXX vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Transformational Growth ETF (JXX) 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, JXX achieves a 7.73% return, which is significantly lower than SBIT's 32.04% return.

JXX

• 1D: 4.38%
• 1M: -7.77%
• 6M: 10.29%
• YTD: 7.73%
• 1Y: 13.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.28%

SBIT

• 1D: -3.82%
• 1M: -19.26%
• 6M: 26.26%
• YTD: 32.04%
• 1Y: 101.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -44.02%

*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)
JXX Janus Henderson Transformational Growth ETF	$64.45K	$47.51K	$49.61K
SBIT Proshares Ultrashort Bitcoin ETF	$28.41M	$33.41M	$46.65M

JXX vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
JXX Janus Henderson Transformational Growth ETF	7.73%	11.61%
SBIT Proshares Ultrashort Bitcoin ETF	32.04%	-12.19%

Correlation

The correlation between JXX and SBIT is -0.46, 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.	-0.46
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	-0.45

Return for Risk

JXX vs. SBIT — Risk / Return Rank

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

JXX

JXX Risk / Return Rank: 25
JXX Sharpe Ratio Rank: 25
JXX Sortino Ratio Rank: 25
JXX Omega Ratio Rank: 25
JXX Calmar Ratio Rank: 25
JXX Martin Ratio Rank: 26

SBIT

SBIT Risk / Return Rank: 53
SBIT Sharpe Ratio Rank: 49
SBIT Sortino Ratio Rank: 55
SBIT Omega Ratio Rank: 51
SBIT Calmar Ratio Rank: 63
SBIT Martin Ratio Rank: 44

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.

JXX vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Transformational Growth ETF (JXX) 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.

	JXX	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.15	-0.56
Sortino ratio: Return per unit of downside risk	0.96	1.86	-0.90
Omega ratio: Gain probability vs. loss probability	1.12	1.22	-0.11
Calmar ratio: Return relative to maximum drawdown	0.75	2.12	-1.38
Martin ratio: Return relative to average drawdown	2.17	4.69	-2.52

JXX vs. SBIT - Sharpe Ratio Comparison

The current JXX Sharpe Ratio is 0.59, which is lower than the SBIT Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of JXX 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

JXX vs. SBIT - Drawdown Comparison

The maximum JXX drawdown since its inception was -23.73%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for JXX and SBIT.

Drawdown Indicators

	JXX	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-23.73%	-91.35%	+67.62%
Max Drawdown (1Y) Largest decline over 1 year	-18.02%	-47.94%	+29.92%
Current Drawdown Current decline from peak	-10.26%	-79.05%	+68.79%
Average Drawdown Average peak-to-trough decline	-5.56%	-69.06%	+63.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.17%	21.64%	-15.47%

Volatility

JXX vs. SBIT - Volatility Comparison

The current volatility for Janus Henderson Transformational Growth ETF (JXX) is 8.49%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 17.39%. This indicates that JXX 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

	JXX	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.49%	17.39%	-8.90%
Volatility (6M) Calculated over the trailing 6-month period	18.59%	67.68%	-49.09%
Volatility (1Y) Calculated over the trailing 1-year period	22.85%	88.50%	-65.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.96%	96.11%	-71.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.96%	96.11%	-71.15%

JXX vs. SBIT - Expense Ratio Comparison

JXX has a 0.57% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

JXX vs. SBIT - Dividend Comparison

JXX has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.33%.

Position	TTM	2025	2024
JXX Janus Henderson Transformational Growth ETF	0.00%	0.04%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	4.33%	0.52%	1.00%

Frequently Asked Questions

Can I hold both JXX and SBIT in my portfolio?

JXX and SBIT 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.

Which is riskier, JXX or SBIT?

SBIT has higher volatility (17.39%) compared to JXX (8.49%). In terms of maximum drawdown, JXX dropped -23.73% vs SBIT's -91.35%.

Which ETF is better, JXX or SBIT?

On 1-year performance, SBIT leads with 101.12% vs 13.37% for JXX. On fees, JXX is cheaper at 0.57% per year. On volatility, JXX has been the lower-risk option at 8.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JXX or SBIT?

Over the 1-year period, SBIT has performed better with a 101.12% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JXX or SBIT?

JXX is cheaper with a 0.57% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.33%, compared with 0.00% for JXX.

What is the main difference between JXX and SBIT?

JXX is categorized as Large Cap Growth Equities, while SBIT is Cryptocurrency. They also come from different issuers: Janus Henderson and ProShares. Their fees differ too: 0.57% for JXX and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.15 vs 0.59), 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.