KOOL vs. BITI

Last updated Aug 2, 2026

KOOL (North Shore Equity Rotation ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - KOOL is a Large Cap Blend Equities fund actively managed by Split Rock, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. KOOL is actively managed, while BITI is passively managed. Over the past year, KOOL returned 20.12% vs 58.64% for BITI. Their -0.41 correlation means they have often moved in opposite directions in the past. KOOL charges 0.94%/yr vs 1.03%/yr for BITI.

Performance

KOOL vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Shore Equity Rotation ETF (KOOL) 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, KOOL achieves a 12.21% return, which is significantly lower than BITI's 27.11% return.

KOOL

• 1D: 0.35%
• 1M: 0.22%
• 6M: 8.13%
• YTD: 12.21%
• 1Y: 20.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.08%

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
KOOL North Shore Equity Rotation ETF	$36.51K	$33.43K	$75.88K

KOOL vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KOOL North Shore Equity Rotation ETF	12.21%	16.05%	10.83%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-34.70%

Correlation

The correlation between KOOL and BITI is -0.48, 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.	-0.48
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.41

Return for Risk

KOOL vs. BITI — Risk / Return Rank

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

KOOL

KOOL Risk / Return Rank: 59
KOOL Sharpe Ratio Rank: 54
KOOL Sortino Ratio Rank: 52
KOOL Omega Ratio Rank: 51
KOOL Calmar Ratio Rank: 73
KOOL Martin Ratio Rank: 68

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.

KOOL vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Shore Equity Rotation ETF (KOOL) 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.

	KOOL	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.45	-0.14
Sortino ratio: Return per unit of downside risk	1.86	2.02	-0.16
Omega ratio: Gain probability vs. loss probability	1.23	1.24	-0.01
Calmar ratio: Return relative to maximum drawdown	2.59	2.53	+0.05
Martin ratio: Return relative to average drawdown	8.28	6.17	+2.11

KOOL vs. BITI - Sharpe Ratio Comparison

The current KOOL Sharpe Ratio is 1.31, which is comparable to the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of KOOL 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

KOOL vs. BITI - Drawdown Comparison

The maximum KOOL drawdown since its inception was -20.46%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for KOOL and BITI.

Drawdown Indicators

	KOOL	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-20.46%	-92.16%	+71.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-25.28%	+18.10%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-3.57%	-86.12%	+82.55%
Average Drawdown Average peak-to-trough decline	-2.57%	-68.59%	+66.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	10.35%	-8.11%

Volatility

KOOL vs. BITI - Volatility Comparison

The current volatility for North Shore Equity Rotation ETF (KOOL) is 4.35%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that KOOL 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

	KOOL	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	9.13%	-4.78%
Volatility (6M) Calculated over the trailing 6-month period	11.58%	33.31%	-21.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.16%	44.23%	-30.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	52.03%	-35.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	52.03%	-35.09%

KOOL vs. BITI - Expense Ratio Comparison

KOOL has a 0.94% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

KOOL vs. BITI - Dividend Comparison

KOOL's dividend yield for the trailing twelve months is around 0.44%, 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%
KOOL North Shore Equity Rotation ETF	0.44%	0.37%	0.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KOOL and BITI in my portfolio?

KOOL and BITI have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KOOL or BITI?

BITI has higher volatility (9.13%) compared to KOOL (4.35%). In terms of maximum drawdown, KOOL dropped -20.46% vs BITI's -92.16%.

Which ETF is better, KOOL or BITI?

On 1-year performance, BITI leads with 58.64% vs 20.12% for KOOL. On fees, KOOL is cheaper at 0.94% per year. On volatility, KOOL has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KOOL or BITI?

Over the 1-year period, BITI has performed better with a 58.64% return vs 20.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KOOL or BITI?

KOOL is cheaper with a 0.94% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.17%, compared with 0.44% for KOOL.

What is the main difference between KOOL and BITI?

KOOL is categorized as Large Cap Blend Equities, while BITI is Cryptocurrency. They also come from different issuers: Split Rock and ProShares. Their fees differ too: 0.94% for KOOL and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.45 vs 1.31), 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.