LMBS vs. BITO
LMBS (First Trust Low Duration Mortgage Opportunities ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - LMBS is a Mortgage Backed Securities fund actively managed by First Trust, while BITO is a Cryptocurrency fund actively managed by ProShares. Both are actively managed. Over the past 3 years, LMBS returned 5.73%/yr vs 25.27%/yr for BITO. At a 0.03 correlation, their price movements are largely independent. LMBS charges 0.68%/yr vs 0.95%/yr for BITO.
Performance
LMBS vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, LMBS achieves a 1.24% return, which is significantly higher than BITO's -26.37% return.
LMBS
- 1D
- -0.10%
- 1M
- 0.11%
- YTD
- 1.24%
- 6M
- 1.47%
- 1Y
- 6.09%
- 3Y*
- 5.73%
- 5Y*
- 3.03%
- 10Y*
- 2.67%
BITO
- 1D
- -2.94%
- 1M
- -18.61%
- YTD
- -26.37%
- 6M
- -30.81%
- 1Y
- -41.01%
- 3Y*
- 25.27%
- 5Y*
- —
- 10Y*
- —
LMBS vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LMBS First Trust Low Duration Mortgage Opportunities ETF | 1.24% | 7.05% | 5.15% | 6.10% | -3.07% | -0.41% |
BITO ProShares Bitcoin Strategy ETF | -26.37% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Correlation
The correlation between LMBS and BITO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021 | 0.03 |
The correlation between LMBS and BITO shifts across timeframes, from 0.03 (3 years) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LMBS vs. BITO — Risk / Return Rank
LMBS
BITO
LMBS vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Low Duration Mortgage Opportunities ETF (LMBS) and ProShares Bitcoin Strategy ETF (BITO). 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.
| LMBS | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.04 | ||
| Sortino ratioReturn per unit of downside risk | +6.14 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 0.85 | +0.77 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | -0.82 | +5.10 |
| Martin ratioReturn relative to average drawdown | 18.25 | -1.41 | +19.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LMBS | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.10 | -0.95 | +4.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | -0.09 | +1.22 |
Drawdowns
LMBS vs. BITO - Drawdown Comparison
The maximum LMBS drawdown since its inception was -6.49%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for LMBS and BITO.
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Drawdown Indicators
| LMBS | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.49% | -77.86% | +71.37% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -50.05% | +48.62% |
Max Drawdown (3Y)Largest decline over 3 years | -1.72% | -50.05% | +48.33% |
Max Drawdown (5Y)Largest decline over 5 years | -6.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.49% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -49.22% | +48.88% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -36.73% | +35.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 29.09% | -28.76% |
Volatility
LMBS vs. BITO - Volatility Comparison
The current volatility for First Trust Low Duration Mortgage Opportunities ETF (LMBS) is 0.68%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 9.43%. This indicates that LMBS experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LMBS | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 9.43% | -8.75% |
Volatility (6M)Calculated over the trailing 6-month period | 1.45% | 34.26% | -32.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.97% | 43.57% | -41.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.56% | 55.11% | -52.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.36% | 55.11% | -52.75% |
LMBS vs. BITO - Expense Ratio Comparison
LMBS has a 0.68% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
LMBS vs. BITO - Dividend Comparison
LMBS's dividend yield for the trailing twelve months is around 4.10%, less than BITO's 67.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 67.63% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LMBS First Trust Low Duration Mortgage Opportunities ETF | 4.10% | 4.08% | 4.28% | 3.96% | 2.22% | 2.04% | 2.27% | 2.55% | 2.76% | 2.73% | 2.84% | 3.03% |
Frequently Asked Questions
LMBS and BITO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (9.43%) compared to LMBS (0.68%). In terms of maximum drawdown, LMBS dropped -6.49% vs BITO's -77.86%.
On 3-year performance, BITO leads with 25.27% vs 5.73% for LMBS. On fees, LMBS is cheaper at 0.68% per year. On volatility, LMBS has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 25.27% return vs 5.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LMBS is cheaper with a 0.68% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 67.63%, compared with 4.10% for LMBS.
LMBS is categorized as Mortgage Backed Securities, while BITO is Cryptocurrency. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.68% for LMBS and 0.95% for BITO.
LMBS currently has the higher Sharpe Ratio (3.10 vs -0.94), 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.
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