PFFA vs. BITI
PFFA (Virtus InfraCap U.S. Preferred Stock ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. PFFA is actively managed, while BITI is passively managed. Over the past 3 years, PFFA returned 12.43%/yr vs -31.62%/yr for BITI. At a correlation of -0.26, they often move in opposite directions. PFFA charges 1.47%/yr vs 1.03%/yr for BITI.
Performance
PFFA vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, PFFA achieves a 1.97% return, which is significantly lower than BITI's 24.48% return.
PFFA
- 1D
- -0.95%
- 1M
- -1.12%
- 6M
- -0.03%
- YTD
- 1.97%
- 1Y
- 7.48%
- 3Y*
- 12.43%
- 5Y*
- 5.78%
- 10Y*
- —
BITI
- 1D
- 1.13%
- 1M
- 1.49%
- 6M
- 35.86%
- YTD
- 24.48%
- 1Y
- 64.61%
- 3Y*
- -31.62%
- 5Y*
- —
- 10Y*
- —
PFFA vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 1.97% | 8.22% | 16.11% | 26.45% | -7.65% |
BITI ProShares Short Bitcoin ETF | 24.48% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between PFFA 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 (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.26 |
The correlation between PFFA and BITI shifts across timeframes, from -0.43 (1 year) to -0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PFFA vs. BITI — Risk / Return Rank
PFFA
BITI
PFFA vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) 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.
| PFFA | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 2.57 | -1.41 |
| Martin ratioReturn relative to average drawdown | 3.54 | 6.38 | -2.83 |
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Drawdowns
PFFA vs. BITI - Drawdown Comparison
The maximum PFFA drawdown since its inception was -70.52%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for PFFA and BITI.
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Drawdown Indicators
| PFFA | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.52% | -92.16% | +21.64% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -25.28% | +18.79% |
Max Drawdown (3Y)Largest decline over 3 years | -12.15% | -84.63% | +72.48% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | — | — |
Current DrawdownCurrent decline from peak | -2.56% | -86.41% | +83.85% |
Average DrawdownAverage peak-to-trough decline | -6.59% | -68.40% | +61.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 10.16% | -8.04% |
Volatility
PFFA vs. BITI - Volatility Comparison
The current volatility for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) is 2.87%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that PFFA 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
| PFFA | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 10.76% | -7.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.42% | 34.28% | -27.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.52% | 44.15% | -36.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.60% | 52.24% | -40.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.63% | 52.24% | -20.61% |
PFFA vs. BITI - Expense Ratio Comparison
PFFA has a 1.47% expense ratio, which is higher than BITI's 1.03% expense ratio.
Dividends
PFFA vs. BITI - Dividend Comparison
PFFA's dividend yield for the trailing twelve months is around 9.81%, less than BITI's 15.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.62% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% |
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 9.81% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% |
Frequently Asked Questions
PFFA 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.
BITI has higher volatility (10.76%) compared to PFFA (2.87%). In terms of maximum drawdown, PFFA dropped -70.52% vs BITI's -92.16%.
On 3-year performance, PFFA leads with 12.43% vs -31.62% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, PFFA has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PFFA has performed better with a 12.43% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BITI is cheaper with a 1.03% expense ratio, compared with 1.47% for PFFA.
BITI has the higher dividend yield at 15.62%, compared with 9.81% for PFFA.
PFFA is categorized as Preferred Stock/Convertible Bonds, while BITI is Cryptocurrency. They also come from different issuers: Virtus Investment Partners and ProShares. Their fees differ too: 1.47% for PFFA and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.47 vs 1.00), 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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