QDTY vs. BITI

Last updated Aug 4, 2026

QDTY (YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - QDTY is a Nasdaq-100 fund actively managed by YieldMax, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. QDTY is actively managed, while BITI is passively managed. Over the past year, QDTY returned 24.50% vs 56.28% for BITI. Their -0.45 correlation means they have often moved in opposite directions in the past. QDTY charges 1.01%/yr vs 1.03%/yr for BITI.

Performance

QDTY vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) 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, QDTY achieves a 11.20% return, which is significantly lower than BITI's 25.22% return.

QDTY

• 1D: 1.49%
• 1M: 0.52%
• 6M: 8.81%
• YTD: 11.20%
• 1Y: 24.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.28%

BITI

• 1D: -1.48%
• 1M: -4.03%
• 6M: 13.09%
• YTD: 25.22%
• 1Y: 56.28%
• 3Y*: -32.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITI ProShares Short Bitcoin ETF	$24.18M	$25.87M	$38.72M
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	$649.79K	$598.67K	$772.55K

QDTY vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	11.20%	12.21%
BITI ProShares Short Bitcoin ETF	25.22%	2.62%

Correlation

The correlation between QDTY and BITI is -0.47, 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.	-0.47
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.45

Return for Risk

QDTY vs. BITI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QDTY

QDTY Risk / Return Rank: 54
QDTY Sharpe Ratio Rank: 53
QDTY Sortino Ratio Rank: 50
QDTY Omega Ratio Rank: 50
QDTY Calmar Ratio Rank: 61
QDTY Martin Ratio Rank: 57

BITI

BITI Risk / Return Rank: 51
BITI Sharpe Ratio Rank: 51
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 62
BITI Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QDTY vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) 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.

	QDTY	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.28	+0.05
Sortino ratio: Return per unit of downside risk	1.85	1.86	0.00
Omega ratio: Gain probability vs. loss probability	1.24	1.22	+0.02
Calmar ratio: Return relative to maximum drawdown	2.22	2.24	-0.02
Martin ratio: Return relative to average drawdown	6.94	5.45	+1.49

QDTY vs. BITI - Sharpe Ratio Comparison

The current QDTY Sharpe Ratio is 1.33, which is comparable to the BITI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of QDTY 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

QDTY vs. BITI - Drawdown Comparison

The maximum QDTY drawdown since its inception was -23.45%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for QDTY and BITI.

Drawdown Indicators

	QDTY	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-23.45%	-92.16%	+68.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-25.28%	+14.18%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-4.45%	-86.33%	+81.88%
Average Drawdown Average peak-to-trough decline	-4.44%	-68.61%	+64.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	10.37%	-6.83%

Volatility

QDTY vs. BITI - Volatility Comparison

The current volatility for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) is 7.04%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. This indicates that QDTY experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTY	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.04%	8.93%	-1.89%
Volatility (6M) Calculated over the trailing 6-month period	15.42%	33.35%	-17.93%
Volatility (1Y) Calculated over the trailing 1-year period	18.47%	44.25%	-25.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.05%	52.01%	-25.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.05%	52.01%	-25.96%

QDTY vs. BITI - Expense Ratio Comparison

QDTY has a 1.01% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

QDTY vs. BITI - Dividend Comparison

QDTY's dividend yield for the trailing twelve months is around 35.21%, more than BITI's 21.80% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	21.80%	1.60%	3.91%	3.33%	0.06%
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	35.21%	26.82%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDTY and BITI in my portfolio?

QDTY and BITI have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDTY or BITI?

BITI has higher volatility (8.93%) compared to QDTY (7.04%). In terms of maximum drawdown, QDTY dropped -23.45% vs BITI's -92.16%.

Which ETF is better, QDTY or BITI?

On 1-year performance, BITI leads with 56.28% vs 24.50% for QDTY. On fees, QDTY is cheaper at 1.01% per year. On volatility, QDTY has been the lower-risk option at 7.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTY or BITI?

Over the 1-year period, BITI has performed better with a 56.28% return vs 24.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTY or BITI?

QDTY is cheaper with a 1.01% expense ratio, compared with 1.03% for BITI.

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

QDTY has the higher dividend yield at 35.21%, compared with 21.80% for BITI.

What is the main difference between QDTY and BITI?

QDTY is categorized as Nasdaq-100, while BITI is Cryptocurrency. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 1.01% for QDTY and 1.03% for BITI.

Which has better risk-adjusted returns?

QDTY currently has the higher Sharpe Ratio (1.33 vs 1.28), 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.