MVLL vs. BITI

Last updated Jul 17, 2026

MVLL (GraniteShares 2x Long MRVL Daily ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - MVLL is a Leveraged Equities fund tracking the Marvell Technology Inc. (MRVL), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, MVLL returned 236.36% vs 64.61% for BITI. At a correlation of -0.31, they often move in opposite directions. MVLL charges 1.50%/yr vs 1.03%/yr for BITI.

Performance

MVLL vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MRVL Daily ETF (MVLL) 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, MVLL achieves a 199.07% return, which is significantly higher than BITI's 24.48% return.

MVLL

• 1D: -17.84%
• 1M: -58.68%
• 6M: 236.72%
• YTD: 199.07%
• 1Y: 236.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

MVLL vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	199.07%	-8.44%
BITI ProShares Short Bitcoin ETF	24.48%	-5.07%

Correlation

The correlation between MVLL and BITI is -0.31, 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	-0.31
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	-0.31

Return for Risk

MVLL vs. BITI — Risk / Return Rank

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

MVLL

MVLL Risk / Return Rank: 68
MVLL Sharpe Ratio Rank: 59
MVLL Sortino Ratio Rank: 68
MVLL Omega Ratio Rank: 70
MVLL Calmar Ratio Rank: 80
MVLL Martin Ratio Rank: 63

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
BITI Calmar Ratio Rank: 64
BITI Martin Ratio Rank: 48

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.

MVLL vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MRVL Daily ETF (MVLL) 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.

	MVLL	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.47	+0.10
Sortino ratio: Return per unit of downside risk	2.49	2.04	+0.45
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	3.35	2.57	+0.78
Martin ratio: Return relative to average drawdown	8.89	6.38	+2.51

MVLL vs. BITI - Sharpe Ratio Comparison

The current MVLL Sharpe Ratio is 1.57, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of MVLL 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

MVLL vs. BITI - Drawdown Comparison

The maximum MVLL drawdown since its inception was -71.03%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for MVLL and BITI.

Drawdown Indicators

	MVLL	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-71.03%	-92.16%	+21.13%
Max Drawdown (1Y) Largest decline over 1 year	-71.03%	-25.28%	-45.75%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-71.03%	-86.41%	+15.38%
Average Drawdown Average peak-to-trough decline	-23.57%	-68.40%	+44.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.72%	10.16%	+16.56%

Volatility

MVLL vs. BITI - Volatility Comparison

GraniteShares 2x Long MRVL Daily ETF (MVLL) has a higher volatility of 58.26% compared to ProShares Short Bitcoin ETF (BITI) at 10.76%. This indicates that MVLL's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVLL	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	58.26%	10.76%	+47.50%
Volatility (6M) Calculated over the trailing 6-month period	123.97%	34.28%	+89.69%
Volatility (1Y) Calculated over the trailing 1-year period	151.72%	44.15%	+107.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	149.89%	52.24%	+97.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	149.89%	52.24%	+97.65%

MVLL vs. BITI - Expense Ratio Comparison

MVLL has a 1.50% expense ratio, which is higher than BITI's 1.03% expense ratio.

Dividends

MVLL vs. BITI - Dividend Comparison

MVLL has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.62%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MVLL and BITI in my portfolio?

MVLL and BITI have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVLL or BITI?

MVLL has higher volatility (58.26%) compared to BITI (10.76%). In terms of maximum drawdown, MVLL dropped -71.03% vs BITI's -92.16%.

Which ETF is better, MVLL or BITI?

On 1-year performance, MVLL leads with 236.36% vs 64.61% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, BITI has been the lower-risk option at 10.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVLL or BITI?

Over the 1-year period, MVLL has performed better with a 236.36% return vs 64.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVLL or BITI?

BITI is cheaper with a 1.03% expense ratio, compared with 1.50% for MVLL.

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

BITI has the higher dividend yield at 15.62%, compared with 0.00% for MVLL.

What is the main difference between MVLL and BITI?

MVLL is categorized as Leveraged Equities, while BITI is Cryptocurrency. MVLL tracks Marvell Technology Inc. (MRVL), while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: GraniteShares and ProShares. Their fees differ too: 1.50% for MVLL and 1.03% for BITI.

Which has better risk-adjusted returns?

MVLL currently has the higher Sharpe Ratio (1.57 vs 1.47), 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.