PEY vs. BITI
PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, PEY returned 13.75%/yr vs -31.62%/yr for BITI. At a correlation of -0.23, they often move in opposite directions. PEY charges 0.54%/yr vs 1.03%/yr for BITI.
Performance
PEY vs. BITI - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PEY having a 23.74% return and BITI slightly higher at 24.48%.
PEY
- 1D
- 3.10%
- 1M
- 7.16%
- 6M
- 16.75%
- YTD
- 23.74%
- 1Y
- 23.22%
- 3Y*
- 13.75%
- 5Y*
- 8.88%
- 10Y*
- 8.98%
BITI
- 1D
- 1.13%
- 1M
- 1.49%
- 6M
- 35.86%
- YTD
- 24.48%
- 1Y
- 64.61%
- 3Y*
- -31.62%
- 5Y*
- —
- 10Y*
- —
PEY vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PEY Invesco High Yield Equity Dividend Achievers™ ETF | 23.74% | 0.56% | 5.25% | 7.29% | 6.74% |
BITI ProShares Short Bitcoin ETF | 24.48% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between PEY and BITI is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.23 |
The correlation between PEY and BITI shifts across timeframes, from -0.23 (all time) to -0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PEY vs. BITI — Risk / Return Rank
PEY
BITI
PEY vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) 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.
| PEY | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 2.57 | +0.06 |
| Martin ratioReturn relative to average drawdown | 7.37 | 6.38 | +0.99 |
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Drawdowns
PEY vs. BITI - Drawdown Comparison
The maximum PEY drawdown since its inception was -72.81%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for PEY and BITI.
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Drawdown Indicators
| PEY | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.81% | -92.16% | +19.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -25.28% | +16.40% |
Max Drawdown (3Y)Largest decline over 3 years | -17.90% | -84.63% | +66.73% |
Max Drawdown (5Y)Largest decline over 5 years | -17.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.55% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -86.41% | +86.41% |
Average DrawdownAverage peak-to-trough decline | -12.81% | -68.40% | +55.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 10.16% | -7.00% |
Volatility
PEY vs. BITI - Volatility Comparison
The current volatility for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) is 5.28%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that PEY 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.
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Volatility by Period
| PEY | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 10.76% | -5.48% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 34.28% | -24.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.28% | 44.15% | -29.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.44% | 52.24% | -35.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.89% | 52.24% | -33.35% |
PEY vs. BITI - Expense Ratio Comparison
PEY has a 0.54% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
PEY vs. BITI - Dividend Comparison
PEY's dividend yield for the trailing twelve months is around 4.14%, less than BITI's 15.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.62% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PEY Invesco High Yield Equity Dividend Achievers™ ETF | 4.14% | 4.85% | 4.44% | 4.58% | 4.22% | 3.83% | 4.30% | 3.78% | 4.33% | 3.21% | 3.12% | 3.44% |
Frequently Asked Questions
PEY and BITI have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (10.76%) compared to PEY (5.28%). In terms of maximum drawdown, PEY dropped -72.81% vs BITI's -92.16%.
On 3-year performance, PEY leads with 13.75% vs -31.62% for BITI. On fees, PEY is cheaper at 0.54% per year. On volatility, PEY has been the lower-risk option at 5.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PEY has performed better with a 13.75% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PEY is cheaper with a 0.54% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.62%, compared with 4.14% for PEY.
PEY is categorized as Mid Cap Value Equities, while BITI is Cryptocurrency. PEY tracks NASDAQ US Dividend Achievers 50 Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.54% for PEY and 1.03% for BITI.
PEY currently has the higher Sharpe Ratio (1.63 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.
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