MODL vs. BITI

Last updated Jul 14, 2026

MODL (Victoryshares Westend U.S. Sector ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - MODL is a Large Cap Blend Equities fund actively managed by Victory, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. MODL is actively managed, while BITI is passively managed. Over the past 3 years, MODL returned 18.92%/yr vs -30.65%/yr for BITI. At a correlation of -0.34, they often move in opposite directions. MODL charges 0.46%/yr vs 1.03%/yr for BITI.

Performance

MODL vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victoryshares Westend U.S. Sector ETF (MODL) 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, MODL achieves a 8.54% return, which is significantly lower than BITI's 28.75% return.

MODL

• 1D: -0.60%
• 1M: 2.21%
• 6M: 7.17%
• YTD: 8.54%
• 1Y: 19.89%
• 3Y*: 18.92%
• 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)

MODL vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MODL Victoryshares Westend U.S. Sector ETF	8.54%	18.99%	24.73%	23.74%	6.45%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	1.42%

Correlation

The correlation between MODL and BITI is -0.46, 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	-0.46
Correlation (3Y) Calculated over the trailing 3-year period	-0.36
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	-0.34

The correlation between MODL and BITI shifts across timeframes, from -0.46 (1 year) to -0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MODL vs. BITI — Risk / Return Rank

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

MODL

MODL Risk / Return Rank: 63
MODL Sharpe Ratio Rank: 66
MODL Sortino Ratio Rank: 66
MODL Omega Ratio Rank: 65
MODL Calmar Ratio Rank: 53
MODL Martin Ratio Rank: 65

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.

MODL vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victoryshares Westend U.S. Sector ETF (MODL) 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.

	MODL	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.56	+0.16
Sortino ratio: Return per unit of downside risk	2.43	2.13	+0.30
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	2.11	2.72	-0.61
Martin ratio: Return relative to average drawdown	9.25	6.78	+2.47

MODL vs. BITI - Sharpe Ratio Comparison

The current MODL Sharpe Ratio is 1.72, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of MODL 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

MODL vs. BITI - Drawdown Comparison

The maximum MODL drawdown since its inception was -17.60%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for MODL and BITI.

Drawdown Indicators

	MODL	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-92.16%	+74.56%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-25.28%	+15.82%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	-84.63%	+67.03%
Current Drawdown Current decline from peak	-0.60%	-85.94%	+85.34%
Average Drawdown Average peak-to-trough decline	-2.01%	-68.34%	+66.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	10.11%	-7.95%

Volatility

MODL vs. BITI - Volatility Comparison

The current volatility for Victoryshares Westend U.S. Sector ETF (MODL) is 3.59%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that MODL 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

	MODL	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	11.38%	-7.79%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	34.25%	-25.00%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	44.14%	-32.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.57%	52.28%	-37.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.57%	52.28%	-37.71%

MODL vs. BITI - Expense Ratio Comparison

MODL has a 0.46% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

MODL vs. BITI - Dividend Comparison

MODL's dividend yield for the trailing twelve months is around 0.69%, less 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%
MODL Victoryshares Westend U.S. Sector ETF	0.69%	0.67%	0.83%	1.02%	0.39%

Frequently Asked Questions

Can I hold both MODL and BITI in my portfolio?

MODL and BITI have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MODL or BITI?

BITI has higher volatility (11.38%) compared to MODL (3.59%). In terms of maximum drawdown, MODL dropped -17.60% vs BITI's -92.16%.

Which ETF is better, MODL or BITI?

On 3-year performance, MODL leads with 18.92% vs -30.65% for BITI. On fees, MODL is cheaper at 0.46% per year. On volatility, MODL has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MODL or BITI?

Over the 3-year period, MODL has performed better with a 18.92% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MODL or BITI?

MODL is cheaper with a 0.46% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 0.69% for MODL.

What is the main difference between MODL and BITI?

MODL is categorized as Large Cap Blend Equities, while BITI is Cryptocurrency. They also come from different issuers: Victory and ProShares. Their fees differ too: 0.46% for MODL and 1.03% for BITI.

Which has better risk-adjusted returns?

MODL currently has the higher Sharpe Ratio (1.72 vs 1.56), 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.