PATN vs. BITI

Last updated Jul 15, 2026

PATN (Pacer Nasdaq International Patent Leaders ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - PATN is a Foreign Large Cap Equities fund tracking the Nasdaq International Patent Leaders Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, PATN returned 55.10% vs 64.31% for BITI. At a correlation of -0.35, they often move in opposite directions. PATN charges 0.65%/yr vs 1.03%/yr for BITI.

Performance

PATN vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Nasdaq International Patent Leaders ETF (PATN) 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, PATN achieves a 31.66% return, which is significantly higher than BITI's 23.84% return.

PATN

• 1D: 1.44%
• 1M: -2.27%
• 6M: 24.14%
• YTD: 31.66%
• 1Y: 55.10%
• 3Y*: —
• 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)

PATN vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PATN Pacer Nasdaq International Patent Leaders ETF	31.66%	40.01%	-1.73%
BITI ProShares Short Bitcoin ETF	23.84%	-1.76%	-41.04%

Correlation

The correlation between PATN and BITI is -0.43, 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	-0.43
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	-0.35

Return for Risk

PATN vs. BITI — Risk / Return Rank

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

PATN

PATN Risk / Return Rank: 85
PATN Sharpe Ratio Rank: 88
PATN Sortino Ratio Rank: 80
PATN Omega Ratio Rank: 85
PATN Calmar Ratio Rank: 86
PATN Martin Ratio Rank: 86

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.

PATN vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Nasdaq International Patent Leaders ETF (PATN) 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.

	PATN	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.46	+0.78
Sortino ratio: Return per unit of downside risk	2.83	2.03	+0.80
Omega ratio: Gain probability vs. loss probability	1.40	1.24	+0.16
Calmar ratio: Return relative to maximum drawdown	3.85	2.56	+1.29
Martin ratio: Return relative to average drawdown	14.11	6.37	+7.74

PATN vs. BITI - Sharpe Ratio Comparison

The current PATN Sharpe Ratio is 2.25, which is higher than the BITI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of PATN 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

PATN vs. BITI - Drawdown Comparison

The maximum PATN drawdown since its inception was -16.77%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for PATN and BITI.

Drawdown Indicators

	PATN	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-16.77%	-92.16%	+75.39%
Max Drawdown (1Y) Largest decline over 1 year	-14.40%	-25.28%	+10.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-7.29%	-86.48%	+79.19%
Average Drawdown Average peak-to-trough decline	-3.23%	-68.36%	+65.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	10.13%	-6.21%

Volatility

PATN vs. BITI - Volatility Comparison

The current volatility for Pacer Nasdaq International Patent Leaders ETF (PATN) is 10.11%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that PATN 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

	PATN	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.11%	11.73%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	22.21%	34.49%	-12.28%
Volatility (1Y) Calculated over the trailing 1-year period	24.65%	44.24%	-19.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.50%	52.29%	-29.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.50%	52.29%	-29.79%

PATN vs. BITI - Expense Ratio Comparison

PATN has a 0.65% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

PATN vs. BITI - Dividend Comparison

PATN's dividend yield for the trailing twelve months is around 1.65%, 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%
PATN Pacer Nasdaq International Patent Leaders ETF	1.65%	2.25%	0.30%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PATN and BITI in my portfolio?

PATN and BITI have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PATN or BITI?

BITI has higher volatility (11.73%) compared to PATN (10.11%). In terms of maximum drawdown, PATN dropped -16.77% vs BITI's -92.16%.

Which ETF is better, PATN or BITI?

On 1-year performance, BITI leads with 64.31% vs 55.10% for PATN. On fees, PATN is cheaper at 0.65% per year. On volatility, PATN has been the lower-risk option at 10.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PATN or BITI?

Over the 1-year period, BITI has performed better with a 64.31% return vs 55.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PATN or BITI?

PATN is cheaper with a 0.65% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.70%, compared with 1.65% for PATN.

What is the main difference between PATN and BITI?

PATN is categorized as Foreign Large Cap Equities, while BITI is Cryptocurrency. PATN tracks Nasdaq International Patent Leaders Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Pacer and ProShares. Their fees differ too: 0.65% for PATN and 1.03% for BITI.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (2.25 vs 1.46), 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.