OCTM vs. BITI

Last updated Jul 14, 2026

OCTM (FT Vest U.S. Equity Max Buffer ETF - October) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - OCTM is a Defined Outcome fund actively managed by First Trust, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. OCTM is actively managed, while BITI is passively managed. Over the past year, OCTM returned 6.96% vs 68.34% for BITI. At a correlation of -0.42, they often move in opposite directions. OCTM charges 0.85%/yr vs 1.03%/yr for BITI.

Performance

OCTM vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - October (OCTM) 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, OCTM achieves a 3.23% return, which is significantly lower than BITI's 28.75% return.

OCTM

• 1D: -0.04%
• 1M: 0.61%
• 6M: 2.89%
• YTD: 3.23%
• 1Y: 6.96%
• 3Y*: —
• 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)

OCTM vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OCTM FT Vest U.S. Equity Max Buffer ETF - October	3.23%	7.03%	0.33%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-29.55%

Correlation

The correlation between OCTM and BITI is -0.48, 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	-0.48
Correlation (All Time) Calculated using the full available price history since Oct 21, 2024	-0.42

Return for Risk

OCTM vs. BITI — Risk / Return Rank

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

OCTM

OCTM Risk / Return Rank: 94
OCTM Sharpe Ratio Rank: 95
OCTM Sortino Ratio Rank: 96
OCTM Omega Ratio Rank: 96
OCTM Calmar Ratio Rank: 90
OCTM Martin Ratio Rank: 94

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.

OCTM vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - October (OCTM) 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.

	OCTM	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.96	1.56	+1.40
Sortino ratio: Return per unit of downside risk	4.57	2.13	+2.44
Omega ratio: Gain probability vs. loss probability	1.63	1.26	+0.37
Calmar ratio: Return relative to maximum drawdown	4.26	2.72	+1.54
Martin ratio: Return relative to average drawdown	20.89	6.78	+14.11

OCTM vs. BITI - Sharpe Ratio Comparison

The current OCTM Sharpe Ratio is 2.96, which is higher than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of OCTM 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

OCTM vs. BITI - Drawdown Comparison

The maximum OCTM drawdown since its inception was -3.29%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for OCTM and BITI.

Drawdown Indicators

	OCTM	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-3.29%	-92.16%	+88.87%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-25.28%	+23.64%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-0.04%	-85.94%	+85.90%
Average Drawdown Average peak-to-trough decline	-0.37%	-68.34%	+67.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	10.11%	-9.78%

Volatility

OCTM vs. BITI - Volatility Comparison

The current volatility for FT Vest U.S. Equity Max Buffer ETF - October (OCTM) is 0.53%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that OCTM 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

	OCTM	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	11.38%	-10.85%
Volatility (6M) Calculated over the trailing 6-month period	1.87%	34.25%	-32.38%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	44.14%	-41.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.04%	52.28%	-49.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.04%	52.28%	-49.24%

OCTM vs. BITI - Expense Ratio Comparison

OCTM has a 0.85% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

OCTM vs. BITI - Dividend Comparison

OCTM has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.10%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%
OCTM FT Vest U.S. Equity Max Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OCTM and BITI in my portfolio?

OCTM and BITI have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCTM or BITI?

BITI has higher volatility (11.38%) compared to OCTM (0.53%). In terms of maximum drawdown, OCTM dropped -3.29% vs BITI's -92.16%.

Which ETF is better, OCTM or BITI?

On 1-year performance, BITI leads with 68.34% vs 6.96% for OCTM. On fees, OCTM is cheaper at 0.85% per year. On volatility, OCTM has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTM or BITI?

Over the 1-year period, BITI has performed better with a 68.34% return vs 6.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTM or BITI?

OCTM is cheaper with a 0.85% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 0.00% for OCTM.

What is the main difference between OCTM and BITI?

OCTM is categorized as Defined Outcome, while BITI is Cryptocurrency. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.85% for OCTM and 1.03% for BITI.

Which has better risk-adjusted returns?

OCTM currently has the higher Sharpe Ratio (2.96 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.