PXF vs. SBIT

Last updated Jul 14, 2026

PXF (Invesco RAFI Developed Markets ex-U.S. ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - PXF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental Select Developed ex-US 1000 Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, PXF returned 35.24% vs 124.12% for SBIT. At a correlation of -0.33, they often move in opposite directions. PXF charges 0.43%/yr vs 0.95%/yr for SBIT.

Performance

PXF vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI Developed Markets ex-U.S. ETF (PXF) 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, PXF achieves a 16.60% return, which is significantly lower than SBIT's 44.00% return.

PXF

• 1D: -1.13%
• 1M: -1.85%
• 6M: 12.77%
• YTD: 16.60%
• 1Y: 35.24%
• 3Y*: 22.04%
• 5Y*: 13.58%
• 10Y*: 11.55%

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)

PXF vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PXF Invesco RAFI Developed Markets ex-U.S. ETF	16.60%	42.51%	-0.42%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between PXF and SBIT is -0.39, 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	-0.39
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.33

Return for Risk

PXF vs. SBIT — Risk / Return Rank

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

PXF

PXF Risk / Return Rank: 81
PXF Sharpe Ratio Rank: 85
PXF Sortino Ratio Rank: 81
PXF Omega Ratio Rank: 83
PXF Calmar Ratio Rank: 78
PXF Martin Ratio Rank: 78

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.

PXF vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI Developed Markets ex-U.S. ETF (PXF) 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.

	PXF	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.41	+0.74
Sortino ratio: Return per unit of downside risk	2.85	2.05	+0.80
Omega ratio: Gain probability vs. loss probability	1.39	1.25	+0.14
Calmar ratio: Return relative to maximum drawdown	3.24	2.60	+0.64
Martin ratio: Return relative to average drawdown	11.71	5.92	+5.79

PXF vs. SBIT - Sharpe Ratio Comparison

The current PXF Sharpe Ratio is 2.15, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of PXF 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

PXF vs. SBIT - Drawdown Comparison

The maximum PXF drawdown since its inception was -64.74%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for PXF and SBIT.

Drawdown Indicators

	PXF	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-91.35%	+26.61%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-47.94%	+37.03%
Max Drawdown (3Y) Largest decline over 3 years	-14.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.59%	—	—
Current Drawdown Current decline from peak	-3.85%	-77.15%	+73.30%
Average Drawdown Average peak-to-trough decline	-15.20%	-68.83%	+53.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	21.04%	-18.02%

Volatility

PXF vs. SBIT - Volatility Comparison

The current volatility for Invesco RAFI Developed Markets ex-U.S. ETF (PXF) is 5.75%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that PXF 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.

Volatility by Period

	PXF	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	22.98%	-17.23%
Volatility (6M) Calculated over the trailing 6-month period	14.50%	68.89%	-54.39%
Volatility (1Y) Calculated over the trailing 1-year period	16.50%	88.51%	-72.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	96.89%	-80.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	96.89%	-79.14%

PXF vs. SBIT - Expense Ratio Comparison

PXF has a 0.43% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

PXF vs. SBIT - Dividend Comparison

PXF's dividend yield for the trailing twelve months is around 3.15%, less than SBIT's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXF Invesco RAFI Developed Markets ex-U.S. ETF	3.15%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%
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 PXF and SBIT in my portfolio?

PXF and SBIT have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXF or SBIT?

SBIT has higher volatility (22.98%) compared to PXF (5.75%). In terms of maximum drawdown, PXF dropped -64.74% vs SBIT's -91.35%.

Which ETF is better, PXF or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 35.24% for PXF. On fees, PXF is cheaper at 0.43% per year. On volatility, PXF has been the lower-risk option at 5.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXF or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 35.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXF or SBIT?

PXF is cheaper with a 0.43% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 3.97%, compared with 3.15% for PXF.

What is the main difference between PXF and SBIT?

PXF is categorized as Foreign Large Cap Equities, while SBIT is Cryptocurrency. PXF tracks RAFI Fundamental Select Developed ex-US 1000 Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.43% for PXF and 0.95% for SBIT.

Which has better risk-adjusted returns?

PXF currently has the higher Sharpe Ratio (2.15 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.