PSP vs. SBIT
PSP (Invesco Global Listed Private Equity ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, PSP returned -9.44% vs 111.94% for SBIT. Their -0.39 correlation means they have often moved in opposite directions in the past. PSP charges 1.44%/yr vs 0.95%/yr for SBIT.
Performance
PSP vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, PSP achieves a -9.07% return, which is significantly lower than SBIT's 39.44% return.
PSP
- 1D
- -0.43%
- 1M
- 6.04%
- 6M
- -9.78%
- YTD
- -9.07%
- 1Y
- -9.44%
- 3Y*
- 9.22%
- 5Y*
- 0.04%
- 10Y*
- 8.10%
- ALL TIME*
- 2.48%
SBIT
- 1D
- 5.60%
- 1M
- -10.69%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 111.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.20M | $1.24M | $2.68M | |
| $29.57M | $32.71M | $46.48M |
PSP vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | -9.07% | 6.49% | 10.48% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between PSP and SBIT is -0.41, 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. | -0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.39 |
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Return for Risk
PSP vs. SBIT — Risk / Return Rank
PSP
SBIT
PSP vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) 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.
| PSP | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.23 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.35 | -2.77 |
| Martin ratioReturn relative to average drawdown | -0.81 | 5.19 | -6.00 |
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Drawdowns
PSP vs. SBIT - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for PSP and SBIT.
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Drawdown Indicators
| PSP | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -91.35% | +5.95% |
Max Drawdown (1Y)Largest decline over 1 year | -22.27% | -47.94% | +25.67% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | — | — |
Current DrawdownCurrent decline from peak | -13.51% | -77.87% | +64.36% |
Average DrawdownAverage peak-to-trough decline | -30.58% | -69.07% | +38.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.63% | 21.67% | -10.04% |
Volatility
PSP vs. SBIT - Volatility Comparison
The current volatility for Invesco Global Listed Private Equity ETF (PSP) is 4.92%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that PSP 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
| PSP | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 18.09% | -13.17% |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | 67.10% | -50.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 88.65% | -68.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.88% | 96.10% | -72.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.30% | 96.10% | -73.80% |
PSP vs. SBIT - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than SBIT's 0.95% expense ratio.
Dividends
PSP vs. SBIT - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 5.99%, more than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 5.99% | 5.87% | 8.62% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.10% | 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
PSP 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.
SBIT has higher volatility (18.09%) compared to PSP (4.92%). In terms of maximum drawdown, PSP dropped -85.40% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 111.94% vs -9.44% for PSP. On fees, SBIT is cheaper at 0.95% per year. On volatility, PSP has been the lower-risk option at 4.92%. 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 111.94% return vs -9.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBIT is cheaper with a 0.95% expense ratio, compared with 1.44% for PSP.
PSP has the higher dividend yield at 5.99%, compared with 4.10% for SBIT.
PSP is categorized as Global Equities, while SBIT is Cryptocurrency. PSP tracks Red Rocks Global Listed Private Equity Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 1.44% for PSP and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs -0.47), 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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