MDPL vs. BITI

Last updated Aug 1, 2026

MDPL (Monarch Dividend Plus ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - MDPL is a Mid Cap Value Equities fund tracking the Monarch Dividend Plus Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, MDPL returned 11.80% vs 58.64% for BITI. Their -0.21 correlation means they have often moved in opposite directions in the past. MDPL charges 1.24%/yr vs 1.03%/yr for BITI.

Performance

MDPL vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Dividend Plus ETF (MDPL) 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, MDPL achieves a 5.23% return, which is significantly lower than BITI's 27.11% return.

MDPL

• 1D: 0.54%
• 1M: 7.88%
• 6M: 3.35%
• YTD: 5.23%
• 1Y: 11.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.49%

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%

*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)
BITI ProShares Short Bitcoin ETF	$24.10M	$26.49M	$38.71M
MDPL Monarch Dividend Plus ETF	$267.92K	$505.53K	$385.76K

MDPL vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDPL Monarch Dividend Plus ETF	5.23%	7.57%	0.42%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-37.96%

Correlation

The correlation between MDPL and BITI is -0.14, 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.	-0.14
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	-0.21

Return for Risk

MDPL vs. BITI — Risk / Return Rank

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

MDPL

MDPL Risk / Return Rank: 28
MDPL Sharpe Ratio Rank: 29
MDPL Sortino Ratio Rank: 30
MDPL Omega Ratio Rank: 27
MDPL Calmar Ratio Rank: 28
MDPL Martin Ratio Rank: 26

BITI

BITI Risk / Return Rank: 61
BITI Sharpe Ratio Rank: 63
BITI Sortino Ratio Rank: 60
BITI Omega Ratio Rank: 55
BITI Calmar Ratio Rank: 73
BITI Martin Ratio Rank: 53

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.

MDPL vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Dividend Plus ETF (MDPL) 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.

	MDPL	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.69	1.45	-0.76
Sortino ratio: Return per unit of downside risk	1.13	2.02	-0.89
Omega ratio: Gain probability vs. loss probability	1.12	1.24	-0.12
Calmar ratio: Return relative to maximum drawdown	0.89	2.53	-1.64
Martin ratio: Return relative to average drawdown	1.99	6.17	-4.19

MDPL vs. BITI - Sharpe Ratio Comparison

The current MDPL Sharpe Ratio is 0.69, which is lower than the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of MDPL 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

MDPL vs. BITI - Drawdown Comparison

The maximum MDPL drawdown since its inception was -14.21%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for MDPL and BITI.

Drawdown Indicators

	MDPL	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-14.21%	-92.16%	+77.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.38%	-25.28%	+12.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-1.23%	-86.12%	+84.89%
Average Drawdown Average peak-to-trough decline	-4.52%	-68.59%	+64.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.56%	10.35%	-4.79%

Volatility

MDPL vs. BITI - Volatility Comparison

The current volatility for Monarch Dividend Plus ETF (MDPL) is 6.07%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that MDPL 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

	MDPL	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.07%	9.13%	-3.06%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	33.31%	-20.82%
Volatility (1Y) Calculated over the trailing 1-year period	16.18%	44.23%	-28.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	52.03%	-36.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.59%	52.03%	-36.44%

MDPL vs. BITI - Expense Ratio Comparison

MDPL has a 1.24% expense ratio, which is higher than BITI's 1.03% expense ratio.

Dividends

MDPL vs. BITI - Dividend Comparison

MDPL's dividend yield for the trailing twelve months is around 1.46%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%
MDPL Monarch Dividend Plus ETF	1.46%	1.42%	1.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MDPL and BITI in my portfolio?

MDPL and BITI have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDPL or BITI?

BITI has higher volatility (9.13%) compared to MDPL (6.07%). In terms of maximum drawdown, MDPL dropped -14.21% vs BITI's -92.16%.

Which ETF is better, MDPL or BITI?

On 1-year performance, BITI leads with 58.64% vs 11.80% for MDPL. On fees, BITI is cheaper at 1.03% per year. On volatility, MDPL has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDPL or BITI?

Over the 1-year period, BITI has performed better with a 58.64% return vs 11.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDPL or BITI?

BITI is cheaper with a 1.03% expense ratio, compared with 1.24% for MDPL.

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

BITI has the higher dividend yield at 15.17%, compared with 1.46% for MDPL.

What is the main difference between MDPL and BITI?

MDPL is categorized as Mid Cap Value Equities, while BITI is Cryptocurrency. MDPL tracks Monarch Dividend Plus Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Monarch and ProShares. Their fees differ too: 1.24% for MDPL and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.45 vs 0.69), 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.