NEHI vs. BITI
NEHI (NEOS Ethereum High Income ETF) and BITI (ProShares Shrt Bitcoin ETF) are both Cryptocurrency funds. NEHI is actively managed, while BITI is passively managed. At a correlation of -0.91, they often move in opposite directions. NEHI charges 0.98%/yr vs 1.03%/yr for BITI.
Performance
NEHI vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, NEHI achieves a -36.78% return, which is significantly lower than BITI's 27.41% return.
NEHI
- 1D
- -1.50%
- 1M
- -23.11%
- YTD
- -36.78%
- 6M
- -38.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITI
- 1D
- 2.70%
- 1M
- 27.75%
- YTD
- 27.41%
- 6M
- 34.37%
- 1Y
- 47.79%
- 3Y*
- -34.84%
- 5Y*
- —
- 10Y*
- —
NEHI vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NEHI NEOS Ethereum High Income ETF | -36.78% | -3.02% |
BITI ProShares Shrt Bitcoin ETF | 27.41% | 5.99% |
Correlation
The correlation between NEHI and BITI is -0.91, 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 (All Time) Calculated using the full available price history since Dec 4, 2025 | -0.91 |
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Return for Risk
NEHI vs. BITI — Risk / Return Rank
NEHI
BITI
NEHI vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) and ProShares Shrt 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| NEHI | BITI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.10 | -0.71 | -0.39 |
Drawdowns
NEHI vs. BITI - Drawdown Comparison
The maximum NEHI drawdown since its inception was -43.46%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for NEHI and BITI.
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Drawdown Indicators
| NEHI | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.46% | -92.16% | +48.70% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.28% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.63% | — |
Current DrawdownCurrent decline from peak | -43.46% | -86.09% | +42.63% |
Average DrawdownAverage peak-to-trough decline | -25.23% | -67.97% | +42.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.80% | — |
Volatility
NEHI vs. BITI - Volatility Comparison
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Volatility by Period
| NEHI | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 33.40% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 57.19% | 43.55% | +13.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.19% | 52.50% | +4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.19% | 52.50% | +4.69% |
NEHI vs. BITI - Expense Ratio Comparison
NEHI has a 0.98% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
NEHI vs. BITI - Dividend Comparison
NEHI's dividend yield for the trailing twelve months is around 24.72%, more than BITI's 9.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 9.27% | 1.60% | 3.91% | 3.33% | 0.06% |
NEHI NEOS Ethereum High Income ETF | 24.72% | 2.87% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NEHI and BITI have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NEHI is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NEHI is cheaper with a 0.98% expense ratio, compared with 1.03% for BITI.
NEHI has the higher dividend yield at 24.72%, compared with 9.27% for BITI.
They also come from different issuers: Neos and ProShares. Their fees differ too: 0.98% for NEHI and 1.03% for BITI.
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