PJFV vs. BITI

Last updated Aug 2, 2026

PJFV (PGIM Jennison Focused Value ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - PJFV is a Large Cap Value Equities fund actively managed by PGIM, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. PJFV is actively managed, while BITI is passively managed. Over the past 3 years, PJFV returned 23.42%/yr vs -31.77%/yr for BITI. Their -0.32 correlation means they have often moved in opposite directions in the past. PJFV charges 0.75%/yr vs 1.03%/yr for BITI.

Performance

PJFV vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Value ETF (PJFV) 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, PJFV achieves a 20.75% return, which is significantly lower than BITI's 27.11% return.

PJFV

• 1D: 0.61%
• 1M: 1.66%
• 6M: 16.44%
• YTD: 20.75%
• 1Y: 34.55%
• 3Y*: 23.42%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.70%

BITI

• 1D: 3.01%
• 1M: -2.58%
• 6M: 22.77%
• YTD: 27.11%
• 1Y: 58.64%
• 3Y*: -31.77%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITI ProShares Short Bitcoin ETF	$24.10M	$26.49M	$38.71M
PJFV PGIM Jennison Focused Value ETF	$1.50M	$1.59M	$1.43M

PJFV vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PJFV PGIM Jennison Focused Value ETF	20.75%	18.65%	24.13%	18.52%	-3.25%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-62.60%	-66.17%	5.98%

Correlation

The correlation between PJFV and BITI is -0.42, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.42
Correlation (3Y) Balances recent behavior with more history.	-0.34
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022	-0.32

The correlation between PJFV and BITI shifts across timeframes, from -0.42 (1 year) to -0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PJFV vs. BITI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PJFV

PJFV Risk / Return Rank: 93
PJFV Sharpe Ratio Rank: 93
PJFV Sortino Ratio Rank: 93
PJFV Omega Ratio Rank: 92
PJFV Calmar Ratio Rank: 93
PJFV Martin Ratio Rank: 94

BITI

BITI Risk / Return Rank: 61
BITI Sharpe Ratio Rank: 63
BITI Sortino Ratio Rank: 60
BITI Omega Ratio Rank: 55
BITI Calmar Ratio Rank: 73
BITI Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PJFV vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Value ETF (PJFV) 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.

	PJFV	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.53	1.45	+1.08
Sortino ratio: Return per unit of downside risk	3.49	2.02	+1.47
Omega ratio: Gain probability vs. loss probability	1.45	1.24	+0.21
Calmar ratio: Return relative to maximum drawdown	4.52	2.53	+1.99
Martin ratio: Return relative to average drawdown	19.14	6.17	+12.97

PJFV vs. BITI - Sharpe Ratio Comparison

The current PJFV Sharpe Ratio is 2.53, which is higher than the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of PJFV 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

PJFV vs. BITI - Drawdown Comparison

The maximum PJFV drawdown since its inception was -18.15%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for PJFV and BITI.

Drawdown Indicators

	PJFV	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-92.16%	+74.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-25.28%	+17.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	-84.63%	+66.48%
Current Drawdown Current decline from peak	-0.03%	-86.12%	+86.09%
Average Drawdown Average peak-to-trough decline	-2.07%	-68.59%	+66.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	10.35%	-8.62%

Volatility

PJFV vs. BITI - Volatility Comparison

The current volatility for PGIM Jennison Focused Value ETF (PJFV) is 3.72%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that PJFV 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

	PJFV	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	9.13%	-5.41%
Volatility (6M) Calculated over the trailing 6-month period	10.61%	33.31%	-22.70%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	44.23%	-31.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.13%	52.03%	-37.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.13%	52.03%	-37.90%

PJFV vs. BITI - Expense Ratio Comparison

PJFV has a 0.75% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

PJFV vs. BITI - Dividend Comparison

PJFV's dividend yield for the trailing twelve months is around 0.57%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%
PJFV PGIM Jennison Focused Value ETF	0.57%	0.68%	1.31%	1.20%	0.12%

Frequently Asked Questions

Can I hold both PJFV and BITI in my portfolio?

PJFV and BITI have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJFV or BITI?

BITI has higher volatility (9.13%) compared to PJFV (3.72%). In terms of maximum drawdown, PJFV dropped -18.15% vs BITI's -92.16%.

Which ETF is better, PJFV or BITI?

On 3-year performance, PJFV leads with 23.42% vs -31.77% for BITI. On fees, PJFV is cheaper at 0.75% per year. On volatility, PJFV has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJFV or BITI?

Over the 3-year period, PJFV has performed better with a 23.42% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJFV or BITI?

PJFV is cheaper with a 0.75% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.17%, compared with 0.57% for PJFV.

What is the main difference between PJFV and BITI?

PJFV is categorized as Large Cap Value Equities, while BITI is Cryptocurrency. They also come from different issuers: PGIM and ProShares. Their fees differ too: 0.75% for PJFV and 1.03% for BITI.

Which has better risk-adjusted returns?

PJFV currently has the higher Sharpe Ratio (2.53 vs 1.45), 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.