PSI vs. SBIT

Last updated Jul 14, 2026

PSI (Invesco Semiconductors ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, PSI returned 145.96% vs 124.12% for SBIT. At a correlation of -0.38, they often move in opposite directions. PSI charges 0.56%/yr vs 0.95%/yr for SBIT.

Performance

PSI vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) and Proshares Ultrashort Bitcoin ETF (SBIT). 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 SBIT's 44.00% 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%

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSI vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PSI Invesco Semiconductors ETF	92.36%	36.32%	1.74%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between PSI and SBIT 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 (All Time) Calculated using the full available price history since Apr 2, 2024	-0.38

Return for Risk

PSI vs. SBIT — 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

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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. SBIT - Risk-Adjusted Trends Comparison

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

	PSI	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	3.19	1.41	+1.77
Sortino ratio: Return per unit of downside risk	3.24	2.05	+1.19
Omega ratio: Gain probability vs. loss probability	1.45	1.25	+0.20
Calmar ratio: Return relative to maximum drawdown	6.99	2.60	+4.38
Martin ratio: Return relative to average drawdown	27.18	5.92	+21.26

PSI vs. SBIT - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 3.19, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of PSI and SBIT, 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. SBIT - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for PSI and SBIT.

Drawdown Indicators

	PSI	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-62.96%	-91.35%	+28.39%
Max Drawdown (1Y) Largest decline over 1 year	-21.02%	-47.94%	+26.92%
Max Drawdown (3Y) Largest decline over 3 years	-41.07%	—	—
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%	-77.15%	+57.91%
Average Drawdown Average peak-to-trough decline	-15.89%	-68.83%	+52.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	21.04%	-15.65%

Volatility

PSI vs. SBIT - Volatility Comparison

Invesco Semiconductors ETF (PSI) has a higher volatility of 25.70% compared to Proshares Ultrashort Bitcoin ETF (SBIT) at 22.98%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSI	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.70%	22.98%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	39.73%	68.89%	-29.16%
Volatility (1Y) Calculated over the trailing 1-year period	46.19%	88.51%	-42.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.72%	96.89%	-57.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.05%	96.89%	-60.84%

PSI vs. SBIT - Expense Ratio Comparison

PSI has a 0.56% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

PSI vs. SBIT - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.03%, less than SBIT's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSI and SBIT in my portfolio?

PSI and SBIT 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 SBIT?

PSI has higher volatility (25.70%) compared to SBIT (22.98%). In terms of maximum drawdown, PSI dropped -62.96% vs SBIT's -91.35%.

Which ETF is better, PSI or SBIT?

On 1-year performance, PSI leads with 145.96% vs 124.12% for SBIT. On fees, PSI is cheaper at 0.56% per year. On volatility, SBIT has been the lower-risk option at 22.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSI or SBIT?

Over the 1-year period, PSI has performed better with a 145.96% return vs 124.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSI or SBIT?

PSI is cheaper with a 0.56% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 3.97%, compared with 0.03% for PSI.

What is the main difference between PSI and SBIT?

PSI is categorized as Semiconductors, while SBIT is Cryptocurrency. PSI tracks Dynamic Semiconductors Intellidex Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.56% for PSI and 0.95% for SBIT.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (3.19 vs 1.41), 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.