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PST vs. BITO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PST vs. BITO

Last updated Jun 4, 2026

PST (ProShares UltraShort 7-10 Year Treasury) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while BITO is a Cryptocurrency fund actively managed by ProShares. PST is passively managed, while BITO is actively managed. Over the past 3 years, PST returned 5.59%/yr vs 25.27%/yr for BITO. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

PST vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort 7-10 Year Treasury (PST) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PST achieves a 4.57% return, which is significantly higher than BITO's -26.37% return.

PST

1D
0.51%
1M
0.80%
YTD
4.57%
6M
6.73%
1Y
1.08%
3Y*
5.59%
5Y*
9.21%
10Y*
2.47%

BITO

1D
-2.94%
1M
-18.61%
YTD
-26.37%
6M
-30.81%
1Y
-41.01%
3Y*
25.27%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PST vs. BITO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
PST
ProShares UltraShort 7-10 Year Treasury		4.57%-4.42%12.27%3.17%38.55%-2.84%
BITO
ProShares Bitcoin Strategy ETF		-26.37%-11.19%104.45%137.33%-63.91%-31.09%

Correlation

The correlation between PST and BITO is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.07

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2021

0.01

PST vs. BITO - Sectors Allocation Comparison

Sectors
PST
BITO

Financial Services

69.6%
68.5%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

PST
69.6%
BITO
68.5%

Basic Materials

PST

-

BITO

-

Communication Services

PST

-

BITO

-

Consumer Cyclical

PST

-

BITO

-

Consumer Defensive

PST

-

BITO

-

Energy

PST

-

BITO

-

Healthcare

PST

-

BITO

-

Industrials

PST

-

BITO

-

Real Estate

PST

-

BITO

-

Technology

PST

-

BITO

-

Utilities

PST

-

BITO

-

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ProShares UltraShort 7-10 Year Treasury

ProShares Bitcoin Strategy ETF

Often compared with PST:
PST vs. ^TYXPST vs. TYOPST vs. TBIIXPST vs. SGOVPST vs. UBTPST vs. FXAIXPST vs. TMV
Often compared with BITO:
BITO vs. BTC-USDBITO vs. IBITBITO vs. BTCIBITO vs. QQQBITO vs. BITUBITO vs. BITXBITO vs. MSTR

Return for Risk

PST vs. BITO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PST
PST Risk / Return Rank: 1010
Overall Rank
PST Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
PST Sortino Ratio Rank: 99
Sortino Ratio Rank
PST Omega Ratio Rank: 99
Omega Ratio Rank
PST Calmar Ratio Rank: 1010
Calmar Ratio Rank
PST Martin Ratio Rank: 1010
Martin Ratio Rank
BITO
BITO Risk / Return Rank: 22
Overall Rank
BITO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
BITO Sortino Ratio Rank: 22
Sortino Ratio Rank
BITO Omega Ratio Rank: 22
Omega Ratio Rank
BITO Calmar Ratio Rank: 22
Calmar Ratio Rank
BITO Martin Ratio Rank: 22
Martin Ratio Rank
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.

PST vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and ProShares Bitcoin Strategy ETF (BITO). 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.

PSTBITODifference
Sharpe ratioReturn per unit of total volatility
0.11
-0.95

+1.06

Sortino ratioReturn per unit of downside risk
0.23
-1.35

+1.57

Omega ratioGain probability vs. loss probability

1.03

0.85

+0.18

Calmar ratioReturn relative to maximum drawdown

0.15

-0.82

+0.97

Martin ratioReturn relative to average drawdown

0.26

-1.41

+1.67

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PST vs. BITO - Sharpe Ratio Comparison

The current PST Sharpe Ratio is 0.11, which is higher than the BITO Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of PST and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PSTBITODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.11

-0.95

+1.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.19

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.37

-0.09

-0.28

Drawdowns

PST vs. BITO - Drawdown Comparison

The maximum PST drawdown since its inception was -79.25%, roughly equal to the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for PST and BITO.

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Drawdown Indicators

PSTBITODifference

Max Drawdown

Largest peak-to-trough decline

-79.25%

-77.86%

-1.39%

Max Drawdown (1Y)

Largest decline over 1 year

-7.25%

-50.05%

+42.80%

Max Drawdown (3Y)

Largest decline over 3 years

-16.19%

-50.05%

+33.86%

Max Drawdown (5Y)

Largest decline over 5 years

-16.19%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-36.07%

—

—

Current Drawdown

Current decline from peak

-64.13%

-49.22%

-14.91%

Average Drawdown

Average peak-to-trough decline

-61.48%

-36.73%

-24.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.16%

29.09%

-24.93%

Volatility

PST vs. BITO - Volatility Comparison

The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 3.19%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 9.43%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

PSTBITODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.19%

9.43%

-6.24%

Volatility (6M)

Calculated over the trailing 6-month period

6.75%

34.26%

-27.51%

Volatility (1Y)

Calculated over the trailing 1-year period

9.62%

43.57%

-33.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.60%

55.11%

-39.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.32%

55.11%

-41.79%

PST vs. BITO - Expense Ratio Comparison

Both PST and BITO have an expense ratio of 0.95%.

Dividends

PST vs. BITO - Dividend Comparison

PST's dividend yield for the trailing twelve months is around 3.08%, less than BITO's 67.63% yield.

PositionTTM20252024202320222021202020192018
BITO
ProShares Bitcoin Strategy ETF		67.63%78.29%61.59%15.14%0.00%0.00%0.00%0.00%0.00%
PST
ProShares UltraShort 7-10 Year Treasury		3.08%3.47%3.61%3.69%0.02%0.00%0.11%1.85%0.66%

Frequently Asked Questions

PST and BITO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BITO has higher volatility (9.43%) compared to PST (3.19%). In terms of maximum drawdown, PST dropped -79.25% vs BITO's -77.86%.

On 3-year performance, BITO leads with 25.27% vs 5.59% for PST. Both ETFs have the same 0.95% expense ratio. On volatility, PST has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, BITO has performed better with a 25.27% return vs 5.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PST and BITO have the same expense ratio: 0.95% per year.

BITO has the higher dividend yield at 67.63%, compared with 3.08% for PST.

PST is categorized as Inverse Bonds, while BITO is Cryptocurrency.

PST currently has the higher Sharpe Ratio (0.11 vs -0.94), 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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