PALL vs. BITI

Last updated Jul 14, 2026

PALL (Aberdeen Standard Physical Palladium Shares ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - PALL is a Precious Metals fund tracking the Palladium London PM Fix ($/ozt), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, PALL returned -1.17%/yr vs -30.65%/yr for BITI. At a correlation of -0.19, they often move in opposite directions. PALL charges 0.60%/yr vs 1.03%/yr for BITI.

Performance

PALL vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aberdeen Standard Physical Palladium Shares ETF (PALL) 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, PALL achieves a -21.83% return, which is significantly lower than BITI's 28.75% return.

PALL

• 1D: -1.47%
• 1M: -2.15%
• 6M: -32.92%
• YTD: -21.83%
• 1Y: 2.34%
• 3Y*: -1.17%
• 5Y*: -15.52%
• 10Y*: 6.21%

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)

PALL vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PALL Aberdeen Standard Physical Palladium Shares ETF	-21.83%	74.07%	-17.38%	-38.77%	-1.67%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between PALL and BITI is -0.27, 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	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.18
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.19

Return for Risk

PALL vs. BITI — Risk / Return Rank

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

PALL

PALL Risk / Return Rank: 11
PALL Sharpe Ratio Rank: 10
PALL Sortino Ratio Rank: 12
PALL Omega Ratio Rank: 13
PALL Calmar Ratio Rank: 10
PALL Martin Ratio Rank: 10

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.

PALL vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aberdeen Standard Physical Palladium Shares ETF (PALL) 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.

	PALL	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.05	1.56	-1.51
Sortino ratio: Return per unit of downside risk	0.41	2.13	-1.72
Omega ratio: Gain probability vs. loss probability	1.05	1.26	-0.20
Calmar ratio: Return relative to maximum drawdown	0.05	2.72	-2.66
Martin ratio: Return relative to average drawdown	0.11	6.78	-6.66

PALL vs. BITI - Sharpe Ratio Comparison

The current PALL Sharpe Ratio is 0.05, which is lower than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of PALL 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

PALL vs. BITI - Drawdown Comparison

The maximum PALL drawdown since its inception was -73.63%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for PALL and BITI.

Drawdown Indicators

	PALL	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-73.63%	-92.16%	+18.53%
Max Drawdown (1Y) Largest decline over 1 year	-43.20%	-25.28%	-17.92%
Max Drawdown (3Y) Largest decline over 3 years	-43.20%	-84.63%	+41.43%
Max Drawdown (5Y) Largest decline over 5 years	-73.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.63%	—	—
Current Drawdown Current decline from peak	-61.47%	-85.94%	+24.47%
Average Drawdown Average peak-to-trough decline	-27.02%	-68.34%	+41.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.49%	10.11%	+10.38%

Volatility

PALL vs. BITI - Volatility Comparison

Aberdeen Standard Physical Palladium Shares ETF (PALL) has a higher volatility of 12.76% compared to ProShares Short Bitcoin ETF (BITI) at 11.38%. This indicates that PALL'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

	PALL	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.76%	11.38%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	36.37%	34.25%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	50.61%	44.14%	+6.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.52%	52.28%	-9.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.10%	52.28%	-14.18%

PALL vs. BITI - Expense Ratio Comparison

PALL has a 0.60% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

PALL vs. BITI - Dividend Comparison

PALL 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%
PALL Aberdeen Standard Physical Palladium Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PALL and BITI in my portfolio?

PALL and BITI have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PALL or BITI?

PALL has higher volatility (12.76%) compared to BITI (11.38%). In terms of maximum drawdown, PALL dropped -73.63% vs BITI's -92.16%.

Which ETF is better, PALL or BITI?

On 3-year performance, PALL leads with -1.17% vs -30.65% for BITI. On fees, PALL is cheaper at 0.60% per year. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PALL or BITI?

Over the 3-year period, PALL has performed better with a -1.17% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PALL or BITI?

PALL is cheaper with a 0.60% expense ratio, compared with 1.03% for BITI.

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

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

What is the main difference between PALL and BITI?

PALL is categorized as Precious Metals, while BITI is Cryptocurrency. PALL tracks Palladium London PM Fix ($/ozt), while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Aberdeen and ProShares. Their fees differ too: 0.60% for PALL and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 0.05), 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.