KRYP vs. BITI

Last updated Jul 21, 2026

KRYP (ProShares CoinDesk 20 Crypto ETF) and BITI (ProShares Short Bitcoin ETF) are both Cryptocurrency funds from ProShares - KRYP tracks the CoinDesk 20 Index while BITI tracks the Bloomberg Bitcoin Index. Both are passively managed. At a correlation of -0.94, they often move in opposite directions.

Performance

KRYP vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares CoinDesk 20 Crypto ETF (KRYP) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KRYP

• 1D: 1.77%
• 1M: 2.13%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BITI

• 1D: -1.35%
• 1M: -3.89%
• 6M: 34.67%
• YTD: 23.04%
• 1Y: 59.90%
• 3Y*: -31.96%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -36.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

KRYP vs. BITI - Yearly Performance Comparison

	2026 (YTD)
KRYP ProShares CoinDesk 20 Crypto ETF	-23.81%
BITI ProShares Short Bitcoin ETF	8.84%

Correlation

The correlation between KRYP and BITI is -0.94, 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 (All Time) Calculated using the full available price history since Feb 4, 2026	-0.94

Return for Risk

KRYP vs. BITI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KRYP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 52
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 64
BITI Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KRYP vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares CoinDesk 20 Crypto ETF (KRYP) 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.

	KRYP	BITI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.37	—
Sortino ratio: Return per unit of downside risk	—	1.94	—
Omega ratio: Gain probability vs. loss probability	—	1.23	—
Calmar ratio: Return relative to maximum drawdown	—	2.38	—
Martin ratio: Return relative to average drawdown	—	5.89	—

Drawdowns

KRYP vs. BITI - Drawdown Comparison

The maximum KRYP drawdown since its inception was -30.90%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for KRYP and BITI.

Drawdown Indicators

	KRYP	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-30.90%	-92.16%	+61.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-23.81%	-86.57%	+62.76%
Average Drawdown Average peak-to-trough decline	-13.23%	-68.43%	+55.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.20%	—

Volatility

Volatility by Period

	KRYP	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.54%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	48.99%	44.17%	+4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.99%	52.19%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.99%	52.19%	-3.20%

Dividends

KRYP vs. BITI - Dividend Comparison

KRYP's dividend yield for the trailing twelve months is around 0.09%, less than BITI's 15.80% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.80%	1.60%	3.91%	3.33%	0.06%
KRYP ProShares CoinDesk 20 Crypto ETF	0.09%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KRYP and BITI in my portfolio?

KRYP and BITI have a correlation of -0.94, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

BITI has the higher dividend yield at 15.80%, compared with 0.09% for KRYP.

What is the main difference between KRYP and BITI?

KRYP tracks CoinDesk 20 Index, while BITI tracks Bloomberg Bitcoin Index.