POWA vs. BITI

Last updated Jul 14, 2026

POWA (Invesco Bloomberg Pricing Power ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - POWA is a Large Cap Blend Equities fund tracking the Bloomberg Pricing Power Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, POWA returned 9.97%/yr vs -30.65%/yr for BITI. At a correlation of -0.28, they often move in opposite directions. POWA charges 0.40%/yr vs 1.03%/yr for BITI.

Performance

POWA vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Bloomberg Pricing Power ETF (POWA) 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, POWA achieves a -0.82% return, which is significantly lower than BITI's 28.75% return.

POWA

• 1D: 0.03%
• 1M: 0.76%
• 6M: -3.35%
• YTD: -0.82%
• 1Y: 3.36%
• 3Y*: 9.97%
• 5Y*: 7.11%
• 10Y*: 9.92%

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

POWA vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
POWA Invesco Bloomberg Pricing Power ETF	-0.82%	11.71%	13.18%	10.58%	11.30%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between POWA and BITI is -0.32, 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	-0.32
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	-0.28

Return for Risk

POWA vs. BITI — Risk / Return Rank

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

POWA

POWA Risk / Return Rank: 14
POWA Sharpe Ratio Rank: 14
POWA Sortino Ratio Rank: 13
POWA Omega Ratio Rank: 13
POWA Calmar Ratio Rank: 14
POWA Martin Ratio Rank: 14

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

POWA vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Pricing Power ETF (POWA) 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.

	POWA	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.29	1.56	-1.27
Sortino ratio: Return per unit of downside risk	0.50	2.13	-1.62
Omega ratio: Gain probability vs. loss probability	1.06	1.26	-0.20
Calmar ratio: Return relative to maximum drawdown	0.35	2.72	-2.37
Martin ratio: Return relative to average drawdown	0.82	6.78	-5.96

POWA vs. BITI - Sharpe Ratio Comparison

The current POWA Sharpe Ratio is 0.29, which is lower than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of POWA 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

POWA vs. BITI - Drawdown Comparison

The maximum POWA drawdown since its inception was -47.91%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for POWA and BITI.

Drawdown Indicators

	POWA	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-47.91%	-92.16%	+44.25%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-25.28%	+15.52%
Max Drawdown (3Y) Largest decline over 3 years	-15.00%	-84.63%	+69.63%
Max Drawdown (5Y) Largest decline over 5 years	-17.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.53%	—	—
Current Drawdown Current decline from peak	-5.03%	-85.94%	+80.91%
Average Drawdown Average peak-to-trough decline	-6.23%	-68.34%	+62.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.09%	10.11%	-6.02%

Volatility

POWA vs. BITI - Volatility Comparison

The current volatility for Invesco Bloomberg Pricing Power ETF (POWA) is 2.81%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that POWA 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

	POWA	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	11.38%	-8.57%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	34.25%	-25.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.76%	44.14%	-32.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.93%	52.28%	-38.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.04%	52.28%	-36.24%

POWA vs. BITI - Expense Ratio Comparison

POWA has a 0.40% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

POWA vs. BITI - Dividend Comparison

POWA's dividend yield for the trailing twelve months is around 0.95%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
POWA Invesco Bloomberg Pricing Power ETF	0.95%	0.94%	0.79%	1.60%	1.48%	1.06%	1.34%	1.16%	1.39%	1.63%	2.18%	3.31%

Frequently Asked Questions

Can I hold both POWA and BITI in my portfolio?

POWA and BITI have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POWA or BITI?

BITI has higher volatility (11.38%) compared to POWA (2.81%). In terms of maximum drawdown, POWA dropped -47.91% vs BITI's -92.16%.

Which ETF is better, POWA or BITI?

On 3-year performance, POWA leads with 9.97% vs -30.65% for BITI. On fees, POWA is cheaper at 0.40% per year. On volatility, POWA has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, POWA or BITI?

Over the 3-year period, POWA has performed better with a 9.97% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, POWA or BITI?

POWA is cheaper with a 0.40% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 0.95% for POWA.

What is the main difference between POWA and BITI?

POWA is categorized as Large Cap Blend Equities, while BITI is Cryptocurrency. POWA tracks Bloomberg Pricing Power Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.40% for POWA and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 0.29), 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.