LOUP vs. BITI
LOUP (Innovator Deepwater Frontier Tech ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, LOUP returned 27.47%/yr vs -31.77%/yr for BITI. Their -0.41 correlation means they have often moved in opposite directions in the past. LOUP charges 0.70%/yr vs 1.03%/yr for BITI.
Performance
LOUP vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, LOUP achieves a 11.39% return, which is significantly lower than BITI's 27.11% return.
LOUP
- 1D
- -1.29%
- 1M
- -11.40%
- 6M
- 9.89%
- YTD
- 11.39%
- 1Y
- 37.12%
- 3Y*
- 27.47%
- 5Y*
- 10.70%
- 10Y*
- —
- ALL TIME*
- 16.49%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.10M | $26.49M | $38.71M | |
| $926.73K | $920.97K | $1.38M |
LOUP vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LOUP Innovator Deepwater Frontier Tech ETF | 11.39% | 43.24% | 21.80% | 51.31% | -2.34% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between LOUP and BITI is -0.51, 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. | -0.51 |
Correlation (3Y) Balances recent behavior with more history. | -0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.41 |
The correlation between LOUP and BITI shifts across timeframes, from -0.51 (1 year) to -0.39 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
LOUP vs. BITI — Risk / Return Rank
LOUP
BITI
LOUP vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) 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.
| LOUP | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.53 | -0.98 |
| Martin ratioReturn relative to average drawdown | 4.59 | 6.17 | -1.58 |
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Drawdowns
LOUP vs. BITI - Drawdown Comparison
The maximum LOUP drawdown since its inception was -58.68%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for LOUP and BITI.
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Drawdown Indicators
| LOUP | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.68% | -92.16% | +33.48% |
Max Drawdown (1Y)Largest decline over 1 year | -21.00% | -25.28% | +4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -35.23% | -84.63% | +49.40% |
Max Drawdown (5Y)Largest decline over 5 years | -55.63% | — | — |
Current DrawdownCurrent decline from peak | -14.75% | -86.12% | +71.37% |
Average DrawdownAverage peak-to-trough decline | -19.79% | -68.59% | +48.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.09% | 10.35% | -3.26% |
Volatility
LOUP vs. BITI - Volatility Comparison
Innovator Deepwater Frontier Tech ETF (LOUP) and ProShares Short Bitcoin ETF (BITI) have volatilities of 9.47% and 9.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LOUP | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.47% | 9.13% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 25.04% | 33.31% | -8.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.22% | 44.23% | -13.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.84% | 52.03% | -19.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.07% | 52.03% | -19.96% |
LOUP vs. BITI - Expense Ratio Comparison
LOUP has a 0.70% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
LOUP vs. BITI - Dividend Comparison
LOUP has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% |
LOUP Innovator Deepwater Frontier Tech ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LOUP and BITI have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LOUP has higher volatility (9.47%) compared to BITI (9.13%). In terms of maximum drawdown, LOUP dropped -58.68% vs BITI's -92.16%.
On 3-year performance, LOUP leads with 27.47% vs -31.77% for BITI. On fees, LOUP is cheaper at 0.70% per year. On volatility, BITI has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, LOUP has performed better with a 27.47% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LOUP is cheaper with a 0.70% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 0.00% for LOUP.
LOUP is categorized as Technology Equities, while BITI is Cryptocurrency. LOUP tracks Deepwater Frontier Tech Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.70% for LOUP and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.45 vs 1.05), 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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