NXTE vs. BITI

Last updated Jul 15, 2026

NXTE (Axs Green Alpha ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - NXTE is a Global Equities fund actively managed by AXS, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. NXTE is actively managed, while BITI is passively managed. Over the past 3 years, NXTE returned 14.05%/yr vs -31.54%/yr for BITI. At a correlation of -0.39, they often move in opposite directions. NXTE charges 1.00%/yr vs 1.03%/yr for BITI.

Performance

NXTE vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Axs Green Alpha ETF (NXTE) 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, NXTE achieves a 26.59% return, which is significantly higher than BITI's 23.84% return.

NXTE

• 1D: 1.21%
• 1M: -3.05%
• 6M: 17.56%
• YTD: 26.59%
• 1Y: 39.47%
• 3Y*: 14.05%
• 5Y*: —
• 10Y*: —

BITI

• 1D: -3.81%
• 1M: -2.41%
• 6M: 34.02%
• YTD: 23.84%
• 1Y: 64.31%
• 3Y*: -31.54%
• 5Y*: —
• 10Y*: —

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

NXTE vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NXTE Axs Green Alpha ETF	26.59%	21.84%	-3.42%	13.85%	-1.52%
BITI ProShares Short Bitcoin ETF	23.84%	-1.76%	-62.60%	-66.17%	4.64%

Correlation

The correlation between NXTE and BITI is -0.50, 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	-0.50
Correlation (3Y) Calculated over the trailing 3-year period	-0.38
Correlation (All Time) Calculated using the full available price history since Sep 29, 2022	-0.39

The correlation between NXTE and BITI shifts across timeframes, from -0.50 (1 year) to -0.38 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

NXTE vs. BITI — Risk / Return Rank

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

NXTE

NXTE Risk / Return Rank: 54
NXTE Sharpe Ratio Rank: 49
NXTE Sortino Ratio Rank: 46
NXTE Omega Ratio Rank: 46
NXTE Calmar Ratio Rank: 72
NXTE Martin Ratio Rank: 60

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
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.

NXTE vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Axs Green Alpha ETF (NXTE) 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.

	NXTE	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.46	-0.10
Sortino ratio: Return per unit of downside risk	1.90	2.03	-0.13
Omega ratio: Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	2.90	2.56	+0.34
Martin ratio: Return relative to average drawdown	8.44	6.37	+2.07

NXTE vs. BITI - Sharpe Ratio Comparison

The current NXTE Sharpe Ratio is 1.36, which is comparable to the BITI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of NXTE 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

NXTE vs. BITI - Drawdown Comparison

The maximum NXTE drawdown since its inception was -28.64%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for NXTE and BITI.

Drawdown Indicators

	NXTE	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-28.64%	-92.16%	+63.52%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	-25.28%	+11.60%
Max Drawdown (3Y) Largest decline over 3 years	-27.24%	-84.63%	+57.39%
Current Drawdown Current decline from peak	-10.61%	-86.48%	+75.87%
Average Drawdown Average peak-to-trough decline	-7.80%	-68.36%	+60.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	10.13%	-5.44%

Volatility

NXTE vs. BITI - Volatility Comparison

Axs Green Alpha ETF (NXTE) has a higher volatility of 12.91% compared to ProShares Short Bitcoin ETF (BITI) at 11.73%. This indicates that NXTE'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

	NXTE	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.91%	11.73%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	24.78%	34.49%	-9.71%
Volatility (1Y) Calculated over the trailing 1-year period	29.13%	44.24%	-15.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.98%	52.29%	-25.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.98%	52.29%	-25.31%

NXTE vs. BITI - Expense Ratio Comparison

NXTE has a 1.00% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

NXTE vs. BITI - Dividend Comparison

NXTE's dividend yield for the trailing twelve months is around 0.52%, less than BITI's 15.70% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.70%	1.60%	3.91%	3.33%	0.06%
NXTE Axs Green Alpha ETF	0.52%	0.36%	0.52%	0.76%	0.13%

Frequently Asked Questions

Can I hold both NXTE and BITI in my portfolio?

NXTE and BITI have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NXTE or BITI?

NXTE has higher volatility (12.91%) compared to BITI (11.73%). In terms of maximum drawdown, NXTE dropped -28.64% vs BITI's -92.16%.

Which ETF is better, NXTE or BITI?

On 3-year performance, NXTE leads with 14.05% vs -31.54% for BITI. On fees, NXTE is cheaper at 1.00% per year. On volatility, BITI has been the lower-risk option at 11.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NXTE or BITI?

Over the 3-year period, NXTE has performed better with a 14.05% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NXTE or BITI?

NXTE is cheaper with a 1.00% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.70%, compared with 0.52% for NXTE.

What is the main difference between NXTE and BITI?

NXTE is categorized as Global Equities, while BITI is Cryptocurrency. They also come from different issuers: AXS and ProShares. Their fees differ too: 1.00% for NXTE and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.46 vs 1.36), 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.