MAGY vs. BITI

Last updated Jul 14, 2026

MAGY (Roundhill Magnificent Seven Covered Call ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - MAGY is a Derivative Income fund actively managed by Roundhill, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. MAGY is actively managed, while BITI is passively managed. Over the past year, MAGY returned 3.72% vs 68.34% for BITI. At a correlation of -0.43, they often move in opposite directions. MAGY charges 0.99%/yr vs 1.03%/yr for BITI.

Performance

MAGY vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Magnificent Seven Covered Call ETF (MAGY) 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, MAGY achieves a -5.47% return, which is significantly lower than BITI's 28.75% return.

MAGY

• 1D: -0.86%
• 1M: 0.71%
• 6M: -5.58%
• YTD: -5.47%
• 1Y: 3.72%
• 3Y*: —
• 5Y*: —
• 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)

MAGY vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
MAGY Roundhill Magnificent Seven Covered Call ETF	-5.47%	26.42%
BITI ProShares Short Bitcoin ETF	28.75%	1.46%

Correlation

The correlation between MAGY and BITI is -0.41, 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	-0.41
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	-0.43

Return for Risk

MAGY vs. BITI — Risk / Return Rank

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

MAGY

MAGY Risk / Return Rank: 13
MAGY Sharpe Ratio Rank: 13
MAGY Sortino Ratio Rank: 12
MAGY Omega Ratio Rank: 13
MAGY Calmar Ratio Rank: 13
MAGY Martin Ratio Rank: 13

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.

MAGY vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Magnificent Seven Covered Call ETF (MAGY) 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.

	MAGY	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.24	1.56	-1.32
Sortino ratio: Return per unit of downside risk	0.41	2.13	-1.71
Omega ratio: Gain probability vs. loss probability	1.06	1.26	-0.20
Calmar ratio: Return relative to maximum drawdown	0.26	2.72	-2.46
Martin ratio: Return relative to average drawdown	0.74	6.78	-6.04

MAGY vs. BITI - Sharpe Ratio Comparison

The current MAGY Sharpe Ratio is 0.24, which is lower than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of MAGY 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

MAGY vs. BITI - Drawdown Comparison

The maximum MAGY drawdown since its inception was -14.29%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for MAGY and BITI.

Drawdown Indicators

	MAGY	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-14.29%	-92.16%	+77.87%
Max Drawdown (1Y) Largest decline over 1 year	-14.29%	-25.28%	+10.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-7.53%	-85.94%	+78.41%
Average Drawdown Average peak-to-trough decline	-3.14%	-68.34%	+65.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.05%	10.11%	-5.06%

Volatility

MAGY vs. BITI - Volatility Comparison

The current volatility for Roundhill Magnificent Seven Covered Call ETF (MAGY) is 6.10%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that MAGY 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

	MAGY	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	11.38%	-5.28%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	34.25%	-21.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.71%	44.14%	-28.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.53%	52.28%	-36.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.53%	52.28%	-36.75%

MAGY vs. BITI - Expense Ratio Comparison

MAGY has a 0.99% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

MAGY vs. BITI - Dividend Comparison

MAGY's dividend yield for the trailing twelve months is around 38.95%, more than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%
MAGY Roundhill Magnificent Seven Covered Call ETF	38.95%	23.38%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGY and BITI in my portfolio?

MAGY and BITI have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGY or BITI?

BITI has higher volatility (11.38%) compared to MAGY (6.10%). In terms of maximum drawdown, MAGY dropped -14.29% vs BITI's -92.16%.

Which ETF is better, MAGY or BITI?

On 1-year performance, BITI leads with 68.34% vs 3.72% for MAGY. On fees, MAGY is cheaper at 0.99% per year. On volatility, MAGY has been the lower-risk option at 6.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGY or BITI?

Over the 1-year period, BITI has performed better with a 68.34% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGY or BITI?

MAGY is cheaper with a 0.99% expense ratio, compared with 1.03% for BITI.

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

MAGY has the higher dividend yield at 38.95%, compared with 15.10% for BITI.

What is the main difference between MAGY and BITI?

MAGY is categorized as Derivative Income, while BITI is Cryptocurrency. They also come from different issuers: Roundhill and ProShares. Their fees differ too: 0.99% for MAGY and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 0.24), 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.