PNQI vs. SBIT
PNQI (Invesco NASDAQ Internet ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - PNQI is a Large Cap Growth Equities fund tracking the NASDAQ Internet Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, PNQI returned -4.33% vs 98.77% for SBIT. Their -0.40 correlation means they have often moved in opposite directions in the past. PNQI charges 0.62%/yr vs 0.95%/yr for SBIT.
Performance
PNQI vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, PNQI achieves a -9.13% return, which is significantly lower than SBIT's 39.44% return.
PNQI
- 1D
- 0.70%
- 1M
- 3.25%
- 6M
- -4.48%
- YTD
- -9.13%
- 1Y
- -4.33%
- 3Y*
- 13.67%
- 5Y*
- -0.37%
- 10Y*
- 11.74%
- ALL TIME*
- 13.59%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.40M | $3.35M | $2.63M | |
| $29.57M | $32.71M | $46.48M |
PNQI vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PNQI Invesco NASDAQ Internet ETF | -9.13% | 15.56% | 16.90% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between PNQI and SBIT is -0.37, 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. | -0.37 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.40 |
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Return for Risk
PNQI vs. SBIT — Risk / Return Rank
PNQI
SBIT
PNQI vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Internet ETF (PNQI) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.
| PNQI | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.23 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.35 | -2.63 |
| Martin ratioReturn relative to average drawdown | -0.55 | 5.19 | -5.74 |
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Drawdowns
PNQI vs. SBIT - Drawdown Comparison
The maximum PNQI drawdown since its inception was -59.70%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for PNQI and SBIT.
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Drawdown Indicators
| PNQI | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -91.35% | +31.65% |
Max Drawdown (1Y)Largest decline over 1 year | -24.85% | -47.94% | +23.09% |
Max Drawdown (3Y)Largest decline over 3 years | -24.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -59.34% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -59.70% | — | — |
Current DrawdownCurrent decline from peak | -14.12% | -77.87% | +63.75% |
Average DrawdownAverage peak-to-trough decline | -13.00% | -69.07% | +56.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.67% | 21.67% | -9.00% |
Volatility
PNQI vs. SBIT - Volatility Comparison
The current volatility for Invesco NASDAQ Internet ETF (PNQI) is 6.38%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that PNQI experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNQI | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.38% | 18.09% | -11.71% |
Volatility (6M)Calculated over the trailing 6-month period | 16.57% | 67.10% | -50.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.14% | 88.65% | -68.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.04% | 96.10% | -69.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.37% | 96.10% | -70.73% |
PNQI vs. SBIT - Expense Ratio Comparison
PNQI has a 0.62% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
PNQI vs. SBIT - Dividend Comparison
PNQI has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PNQI Invesco NASDAQ Internet ETF | 0.00% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PNQI and SBIT have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.09%) compared to PNQI (6.38%). In terms of maximum drawdown, PNQI dropped -59.70% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs -4.33% for PNQI. On fees, PNQI is cheaper at 0.62% per year. On volatility, PNQI has been the lower-risk option at 6.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs -4.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PNQI is cheaper with a 0.62% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 0.00% for PNQI.
PNQI is categorized as Large Cap Growth Equities, while SBIT is Cryptocurrency. PNQI tracks NASDAQ Internet Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.62% for PNQI and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs -0.35), 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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