LOUP vs. SBIT

Last updated Jul 14, 2026

LOUP (Innovator Deepwater Frontier Tech ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, LOUP returned 49.91% vs 124.12% for SBIT. At a correlation of -0.44, they often move in opposite directions. LOUP charges 0.70%/yr vs 0.95%/yr for SBIT.

Performance

LOUP vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Deepwater Frontier Tech ETF (LOUP) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LOUP achieves a 20.34% return, which is significantly lower than SBIT's 44.00% return.

LOUP

• 1D: -2.53%
• 1M: -0.46%
• 6M: 13.02%
• YTD: 20.34%
• 1Y: 49.91%
• 3Y*: 31.72%
• 5Y*: 12.17%
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LOUP vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LOUP Innovator Deepwater Frontier Tech ETF	20.34%	43.24%	11.29%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between LOUP and SBIT is -0.49, 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	-0.49
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.44

Return for Risk

LOUP vs. SBIT — Risk / Return Rank

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

LOUP

LOUP Risk / Return Rank: 58
LOUP Sharpe Ratio Rank: 64
LOUP Sortino Ratio Rank: 58
LOUP Omega Ratio Rank: 54
LOUP Calmar Ratio Rank: 60
LOUP Martin Ratio Rank: 57

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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.

LOUP vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and Proshares Ultrashort Bitcoin ETF (SBIT). 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	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.41	+0.25
Sortino ratio: Return per unit of downside risk	2.18	2.05	+0.13
Omega ratio: Gain probability vs. loss probability	1.27	1.25	+0.02
Calmar ratio: Return relative to maximum drawdown	2.39	2.60	-0.22
Martin ratio: Return relative to average drawdown	7.74	5.92	+1.82

LOUP vs. SBIT - Sharpe Ratio Comparison

The current LOUP Sharpe Ratio is 1.66, which is comparable to the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of LOUP and SBIT, 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

LOUP vs. SBIT - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for LOUP and SBIT.

Drawdown Indicators

	LOUP	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-91.35%	+32.67%
Max Drawdown (1Y) Largest decline over 1 year	-21.00%	-47.94%	+26.94%
Max Drawdown (3Y) Largest decline over 3 years	-35.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	—	—
Current Drawdown Current decline from peak	-7.90%	-77.15%	+69.25%
Average Drawdown Average peak-to-trough decline	-19.84%	-68.83%	+48.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.46%	21.04%	-14.58%

Volatility

LOUP vs. SBIT - Volatility Comparison

The current volatility for Innovator Deepwater Frontier Tech ETF (LOUP) is 10.37%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that LOUP experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOUP	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.37%	22.98%	-12.61%
Volatility (6M) Calculated over the trailing 6-month period	24.13%	68.89%	-44.76%
Volatility (1Y) Calculated over the trailing 1-year period	30.30%	88.51%	-58.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.75%	96.89%	-64.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.05%	96.89%	-64.84%

LOUP vs. SBIT - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

LOUP vs. SBIT - Dividend Comparison

LOUP has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 3.97%.

Position	TTM	2025	2024
LOUP Innovator Deepwater Frontier Tech ETF	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both LOUP and SBIT in my portfolio?

LOUP and SBIT have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LOUP or SBIT?

SBIT has higher volatility (22.98%) compared to LOUP (10.37%). In terms of maximum drawdown, LOUP dropped -58.68% vs SBIT's -91.35%.

Which ETF is better, LOUP or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 49.91% for LOUP. On fees, LOUP is cheaper at 0.70% per year. On volatility, LOUP has been the lower-risk option at 10.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LOUP or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 49.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LOUP or SBIT?

LOUP is cheaper with a 0.70% expense ratio, compared with 0.95% for SBIT.

Which ETF pays a higher dividend yield, LOUP or SBIT?

SBIT has the higher dividend yield at 3.97%, compared with 0.00% for LOUP.

What is the main difference between LOUP and SBIT?

LOUP is categorized as Technology Equities, while SBIT is Cryptocurrency. LOUP tracks Deepwater Frontier Tech Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.70% for LOUP and 0.95% for SBIT.

Which has better risk-adjusted returns?

LOUP currently has the higher Sharpe Ratio (1.66 vs 1.41), 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.