NTSE vs. BITI

Last updated Jul 17, 2026

NTSE (WisdomTree Emerging Markets Efficient Core Fund) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - NTSE is a Diversified Portfolio fund actively managed by WisdomTree, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. NTSE is actively managed, while BITI is passively managed. Over the past 3 years, NTSE returned 19.82%/yr vs -31.62%/yr for BITI. At a correlation of -0.33, they often move in opposite directions. NTSE charges 0.38%/yr vs 1.03%/yr for BITI.

Performance

NTSE vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Efficient Core Fund (NTSE) 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, NTSE achieves a 20.86% return, which is significantly lower than BITI's 24.48% return.

NTSE

• 1D: -2.05%
• 1M: -6.67%
• 6M: 13.48%
• YTD: 20.86%
• 1Y: 39.75%
• 3Y*: 19.82%
• 5Y*: 5.20%
• 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)

NTSE vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NTSE WisdomTree Emerging Markets Efficient Core Fund	20.86%	36.29%	4.42%	9.47%	-3.29%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between NTSE and BITI is -0.45, 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	-0.45
Correlation (3Y) Calculated over the trailing 3-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.33

The correlation between NTSE and BITI shifts across timeframes, from -0.45 (1 year) to -0.29 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

NTSE vs. BITI — Risk / Return Rank

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

NTSE

NTSE Risk / Return Rank: 64
NTSE Sharpe Ratio Rank: 61
NTSE Sortino Ratio Rank: 57
NTSE Omega Ratio Rank: 66
NTSE Calmar Ratio Rank: 70
NTSE Martin Ratio Rank: 67

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.

NTSE vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Efficient Core Fund (NTSE) 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.

	NTSE	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.47	+0.16
Sortino ratio: Return per unit of downside risk	2.20	2.04	+0.16
Omega ratio: Gain probability vs. loss probability	1.31	1.25	+0.07
Calmar ratio: Return relative to maximum drawdown	2.81	2.57	+0.24
Martin ratio: Return relative to average drawdown	9.50	6.38	+3.13

NTSE vs. BITI - Sharpe Ratio Comparison

The current NTSE Sharpe Ratio is 1.64, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of NTSE 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

NTSE vs. BITI - Drawdown Comparison

The maximum NTSE drawdown since its inception was -42.84%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for NTSE and BITI.

Drawdown Indicators

	NTSE	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-42.84%	-92.16%	+49.32%
Max Drawdown (1Y) Largest decline over 1 year	-14.20%	-25.28%	+11.08%
Max Drawdown (3Y) Largest decline over 3 years	-18.73%	-84.63%	+65.90%
Max Drawdown (5Y) Largest decline over 5 years	-41.15%	—	—
Current Drawdown Current decline from peak	-9.63%	-86.41%	+76.78%
Average Drawdown Average peak-to-trough decline	-19.40%	-68.40%	+49.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	10.16%	-5.97%

Volatility

NTSE vs. BITI - Volatility Comparison

The current volatility for WisdomTree Emerging Markets Efficient Core Fund (NTSE) is 10.13%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that NTSE 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

	NTSE	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.13%	10.76%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	22.38%	34.28%	-11.90%
Volatility (1Y) Calculated over the trailing 1-year period	24.41%	44.15%	-19.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.13%	52.24%	-32.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.93%	52.24%	-32.31%

NTSE vs. BITI - Expense Ratio Comparison

NTSE has a 0.38% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

NTSE vs. BITI - Dividend Comparison

NTSE's dividend yield for the trailing twelve months is around 2.72%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022	2021
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%	0.00%
NTSE WisdomTree Emerging Markets Efficient Core Fund	2.72%	3.35%	3.23%	2.44%	3.22%	2.10%

Frequently Asked Questions

Can I hold both NTSE and BITI in my portfolio?

NTSE and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTSE or BITI?

BITI has higher volatility (10.76%) compared to NTSE (10.13%). In terms of maximum drawdown, NTSE dropped -42.84% vs BITI's -92.16%.

Which ETF is better, NTSE or BITI?

On 3-year performance, NTSE leads with 19.82% vs -31.62% for BITI. On fees, NTSE is cheaper at 0.38% per year. On volatility, NTSE has been the lower-risk option at 10.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NTSE or BITI?

Over the 3-year period, NTSE has performed better with a 19.82% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NTSE or BITI?

NTSE is cheaper with a 0.38% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 2.72% for NTSE.

What is the main difference between NTSE and BITI?

NTSE is categorized as Diversified Portfolio, while BITI is Cryptocurrency. They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.38% for NTSE and 1.03% for BITI.

Which has better risk-adjusted returns?

NTSE currently has the higher Sharpe Ratio (1.64 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.