MAXJ vs. SBIT

Last updated Aug 1, 2026

MAXJ (iShares Large Cap Max Buffer Jun ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - MAXJ is a Equity Hedged fund actively managed by iShares, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). MAXJ is actively managed, while SBIT is passively managed. Over the past year, MAXJ returned 7.01% vs 98.77% for SBIT. Their -0.40 correlation means they have often moved in opposite directions in the past. MAXJ charges 0.50%/yr vs 0.95%/yr for SBIT.

Performance

MAXJ vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap Max Buffer Jun ETF (MAXJ) 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, MAXJ achieves a 3.65% return, which is significantly lower than SBIT's 39.44% return.

MAXJ

• 1D: 0.22%
• 1M: 0.34%
• 6M: 3.11%
• YTD: 3.65%
• 1Y: 7.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.32%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MAXJ iShares Large Cap Max Buffer Jun ETF	$1.74M	$2.01M	$1.56M
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M

MAXJ vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAXJ iShares Large Cap Max Buffer Jun ETF	3.65%	8.97%	4.56%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-74.40%

Correlation

The correlation between MAXJ and SBIT is -0.44, 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.	-0.44
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	-0.40

Return for Risk

MAXJ vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MAXJ

MAXJ Risk / Return Rank: 95
MAXJ Sharpe Ratio Rank: 96
MAXJ Sortino Ratio Rank: 96
MAXJ Omega Ratio Rank: 96
MAXJ Calmar Ratio Rank: 91
MAXJ Martin Ratio Rank: 96

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MAXJ vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Jun ETF (MAXJ) 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.

	MAXJ	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.94	1.27	+1.67
Sortino ratio: Return per unit of downside risk	4.61	1.95	+2.66
Omega ratio: Gain probability vs. loss probability	1.63	1.23	+0.39
Calmar ratio: Return relative to maximum drawdown	4.03	2.35	+1.69
Martin ratio: Return relative to average drawdown	23.21	5.19	+18.02

MAXJ vs. SBIT - Sharpe Ratio Comparison

The current MAXJ Sharpe Ratio is 2.94, which is higher than the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of MAXJ 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

MAXJ vs. SBIT - Drawdown Comparison

The maximum MAXJ drawdown since its inception was -6.35%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for MAXJ and SBIT.

Drawdown Indicators

	MAXJ	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-91.35%	+85.00%
Max Drawdown (1Y) Largest decline over 1 year	-1.70%	-47.94%	+46.24%
Current Drawdown Current decline from peak	-0.06%	-77.87%	+77.81%
Average Drawdown Average peak-to-trough decline	-0.53%	-69.07%	+68.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	21.67%	-21.37%

Volatility

MAXJ vs. SBIT - Volatility Comparison

The current volatility for iShares Large Cap Max Buffer Jun ETF (MAXJ) is 0.68%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that MAXJ 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

	MAXJ	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	18.09%	-17.41%
Volatility (6M) Calculated over the trailing 6-month period	1.91%	67.10%	-65.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.35%	88.65%	-86.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.10%	96.10%	-91.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	96.10%	-91.00%

MAXJ vs. SBIT - Expense Ratio Comparison

MAXJ has a 0.50% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

MAXJ vs. SBIT - Dividend Comparison

MAXJ's dividend yield for the trailing twelve months is around 0.97%, less than SBIT's 4.10% yield.

Position	TTM	2025	2024
MAXJ iShares Large Cap Max Buffer Jun ETF	0.97%	1.01%	0.81%
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%

Frequently Asked Questions

Can I hold both MAXJ and SBIT in my portfolio?

MAXJ and SBIT have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAXJ or SBIT?

SBIT has higher volatility (18.09%) compared to MAXJ (0.68%). In terms of maximum drawdown, MAXJ dropped -6.35% vs SBIT's -91.35%.

Which ETF is better, MAXJ or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 7.01% for MAXJ. On fees, MAXJ is cheaper at 0.50% per year. On volatility, MAXJ has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAXJ or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 7.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAXJ or SBIT?

MAXJ is cheaper with a 0.50% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.03%, compared with 0.97% for MAXJ.

What is the main difference between MAXJ and SBIT?

MAXJ is categorized as Equity Hedged, while SBIT is Cryptocurrency. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.50% for MAXJ and 0.95% for SBIT.

Which has better risk-adjusted returns?

MAXJ currently has the higher Sharpe Ratio (2.94 vs 1.27), 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.