LGH vs. BITI

Last updated Jul 14, 2026

LGH (HCM Defender 500 Index ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - LGH is a Large Cap Blend Equities fund tracking the HCM Defender 500 Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, LGH returned 17.61%/yr vs -30.65%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. LGH charges 1.23%/yr vs 1.03%/yr for BITI.

Performance

LGH vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HCM Defender 500 Index ETF (LGH) 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, LGH achieves a 3.53% return, which is significantly lower than BITI's 28.75% return.

LGH

• 1D: -1.05%
• 1M: 1.65%
• 6M: 1.15%
• YTD: 3.53%
• 1Y: 17.01%
• 3Y*: 17.61%
• 5Y*: 9.79%
• 10Y*: —

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

LGH vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LGH HCM Defender 500 Index ETF	3.53%	19.47%	27.00%	24.19%	-3.21%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between LGH and BITI is -0.47, 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 (1Y) Calculated over the trailing 1-year period	-0.47
Correlation (3Y) Calculated over the trailing 3-year period	-0.36
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.35

The correlation between LGH and BITI shifts across timeframes, from -0.47 (1 year) to -0.35 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LGH vs. BITI — Risk / Return Rank

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

LGH

LGH Risk / Return Rank: 35
LGH Sharpe Ratio Rank: 36
LGH Sortino Ratio Rank: 33
LGH Omega Ratio Rank: 34
LGH Calmar Ratio Rank: 37
LGH Martin Ratio Rank: 38

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

LGH vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HCM Defender 500 Index ETF (LGH) 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.

	LGH	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.56	-0.52
Sortino ratio: Return per unit of downside risk	1.44	2.13	-0.68
Omega ratio: Gain probability vs. loss probability	1.19	1.26	-0.07
Calmar ratio: Return relative to maximum drawdown	1.51	2.72	-1.20
Martin ratio: Return relative to average drawdown	4.65	6.78	-2.13

LGH vs. BITI - Sharpe Ratio Comparison

The current LGH Sharpe Ratio is 1.04, which is lower than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of LGH 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

LGH vs. BITI - Drawdown Comparison

The maximum LGH drawdown since its inception was -29.60%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for LGH and BITI.

Drawdown Indicators

	LGH	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-29.60%	-92.16%	+62.56%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-25.28%	+13.99%
Max Drawdown (3Y) Largest decline over 3 years	-18.42%	-84.63%	+66.21%
Max Drawdown (5Y) Largest decline over 5 years	-29.38%	—	—
Current Drawdown Current decline from peak	-2.15%	-85.94%	+83.79%
Average Drawdown Average peak-to-trough decline	-9.33%	-68.34%	+59.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.67%	10.11%	-6.44%

Volatility

LGH vs. BITI - Volatility Comparison

The current volatility for HCM Defender 500 Index ETF (LGH) is 5.65%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that LGH 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

	LGH	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	11.38%	-5.73%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	34.25%	-21.74%
Volatility (1Y) Calculated over the trailing 1-year period	16.47%	44.14%	-27.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	52.28%	-35.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.82%	52.28%	-32.46%

LGH vs. BITI - Expense Ratio Comparison

LGH has a 1.23% expense ratio, which is higher than BITI's 1.03% expense ratio.

Dividends

LGH vs. BITI - Dividend Comparison

LGH's dividend yield for the trailing twelve months is around 0.37%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%
LGH HCM Defender 500 Index ETF	0.37%	0.38%	0.40%	0.63%	0.61%	0.14%	0.23%	0.01%

Frequently Asked Questions

Can I hold both LGH and BITI in my portfolio?

LGH and BITI have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LGH or BITI?

BITI has higher volatility (11.38%) compared to LGH (5.65%). In terms of maximum drawdown, LGH dropped -29.60% vs BITI's -92.16%.

Which ETF is better, LGH or BITI?

On 3-year performance, LGH leads with 17.61% vs -30.65% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, LGH has been the lower-risk option at 5.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LGH or BITI?

Over the 3-year period, LGH has performed better with a 17.61% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LGH or BITI?

BITI is cheaper with a 1.03% expense ratio, compared with 1.23% for LGH.

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

BITI has the higher dividend yield at 15.10%, compared with 0.37% for LGH.

What is the main difference between LGH and BITI?

LGH is categorized as Large Cap Blend Equities, while BITI is Cryptocurrency. LGH tracks HCM Defender 500 Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Howard Capital Management and ProShares. Their fees differ too: 1.23% for LGH and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 1.04), 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.