PSI vs. BITI

Last updated Jul 14, 2026

PSI (Invesco Semiconductors ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, PSI returned 48.79%/yr vs -30.65%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. PSI charges 0.56%/yr vs 1.03%/yr for BITI.

Performance

PSI vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) 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, PSI achieves a 92.36% return, which is significantly higher than BITI's 28.75% return.

PSI

• 1D: -4.86%
• 1M: -9.65%
• 6M: 70.26%
• YTD: 92.36%
• 1Y: 145.96%
• 3Y*: 48.79%
• 5Y*: 30.24%
• 10Y*: 32.69%

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)

PSI vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PSI Invesco Semiconductors ETF	92.36%	36.32%	17.17%	49.06%	3.16%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between PSI and BITI is -0.41, 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	-0.41
Correlation (3Y) Calculated over the trailing 3-year period	-0.32
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.35

Return for Risk

PSI vs. BITI — Risk / Return Rank

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

PSI

PSI Risk / Return Rank: 93
PSI Sharpe Ratio Rank: 96
PSI Sortino Ratio Rank: 89
PSI Omega Ratio Rank: 89
PSI Calmar Ratio Rank: 96
PSI Martin Ratio Rank: 96

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.

PSI vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) 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.

	PSI	BITI	Difference
Sharpe ratio: Return per unit of total volatility	3.19	1.56	+1.63
Sortino ratio: Return per unit of downside risk	3.24	2.13	+1.11
Omega ratio: Gain probability vs. loss probability	1.45	1.26	+0.19
Calmar ratio: Return relative to maximum drawdown	6.99	2.72	+4.27
Martin ratio: Return relative to average drawdown	27.18	6.78	+20.40

PSI vs. BITI - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 3.19, which is higher than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of PSI 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

PSI vs. BITI - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for PSI and BITI.

Drawdown Indicators

	PSI	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-62.96%	-92.16%	+29.20%
Max Drawdown (1Y) Largest decline over 1 year	-21.02%	-25.28%	+4.26%
Max Drawdown (3Y) Largest decline over 3 years	-41.07%	-84.63%	+43.56%
Max Drawdown (5Y) Largest decline over 5 years	-44.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.85%	—	—
Current Drawdown Current decline from peak	-19.24%	-85.94%	+66.70%
Average Drawdown Average peak-to-trough decline	-15.89%	-68.34%	+52.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	10.11%	-4.72%

Volatility

PSI vs. BITI - Volatility Comparison

Invesco Semiconductors ETF (PSI) has a higher volatility of 25.70% compared to ProShares Short Bitcoin ETF (BITI) at 11.38%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSI	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.70%	11.38%	+14.32%
Volatility (6M) Calculated over the trailing 6-month period	39.73%	34.25%	+5.48%
Volatility (1Y) Calculated over the trailing 1-year period	46.19%	44.14%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.72%	52.28%	-12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.05%	52.28%	-16.23%

PSI vs. BITI - Expense Ratio Comparison

PSI has a 0.56% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

PSI vs. BITI - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.03%, 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%
PSI Invesco Semiconductors ETF	0.03%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%

Frequently Asked Questions

Can I hold both PSI and BITI in my portfolio?

PSI and BITI have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSI or BITI?

PSI has higher volatility (25.70%) compared to BITI (11.38%). In terms of maximum drawdown, PSI dropped -62.96% vs BITI's -92.16%.

Which ETF is better, PSI or BITI?

On 3-year performance, PSI leads with 48.79% vs -30.65% for BITI. On fees, PSI is cheaper at 0.56% per year. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSI or BITI?

Over the 3-year period, PSI has performed better with a 48.79% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSI or BITI?

PSI is cheaper with a 0.56% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 0.03% for PSI.

What is the main difference between PSI and BITI?

PSI is categorized as Semiconductors, while BITI is Cryptocurrency. PSI tracks Dynamic Semiconductors Intellidex Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.56% for PSI and 1.03% for BITI.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (3.19 vs 1.56), 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.