QTOP vs. BITI

Last updated Aug 2, 2026

QTOP (iShares Nasdaq Top 30 Stocks ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past year, QTOP returned 26.03% vs 58.64% for BITI. Their -0.46 correlation means they have often moved in opposite directions in the past. QTOP charges 0.20%/yr vs 1.03%/yr for BITI.

Performance

QTOP vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq Top 30 Stocks ETF (QTOP) 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, QTOP achieves a 12.29% return, which is significantly lower than BITI's 27.11% return.

QTOP

• 1D: 0.76%
• 1M: -3.71%
• 6M: 10.80%
• YTD: 12.29%
• 1Y: 26.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.79%

BITI

• 1D: 3.01%
• 1M: -2.58%
• 6M: 22.77%
• YTD: 27.11%
• 1Y: 58.64%
• 3Y*: -31.77%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.65%

*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	$24.10M	$26.49M	$38.71M
QTOP iShares Nasdaq Top 30 Stocks ETF	$6.40M	$5.80M	$7.08M

QTOP vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QTOP iShares Nasdaq Top 30 Stocks ETF	12.29%	22.19%	6.25%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-31.94%

Correlation

The correlation between QTOP and BITI is -0.48, 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.	-0.48
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-0.46

Return for Risk

QTOP vs. BITI — Risk / Return Rank

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

QTOP

QTOP Risk / Return Rank: 46
QTOP Sharpe Ratio Rank: 44
QTOP Sortino Ratio Rank: 43
QTOP Omega Ratio Rank: 42
QTOP Calmar Ratio Rank: 50
QTOP Martin Ratio Rank: 49

BITI

BITI Risk / Return Rank: 61
BITI Sharpe Ratio Rank: 63
BITI Sortino Ratio Rank: 60
BITI Omega Ratio Rank: 55
BITI Calmar Ratio Rank: 73
BITI Martin Ratio Rank: 53

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.

QTOP vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Top 30 Stocks ETF (QTOP) 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.

	QTOP	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.45	-0.36
Sortino ratio: Return per unit of downside risk	1.58	2.02	-0.44
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.79	2.53	-0.74
Martin ratio: Return relative to average drawdown	5.58	6.17	-0.59

QTOP vs. BITI - Sharpe Ratio Comparison

The current QTOP Sharpe Ratio is 1.09, which is comparable to the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of QTOP 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

QTOP vs. BITI - Drawdown Comparison

The maximum QTOP drawdown since its inception was -23.28%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for QTOP and BITI.

Drawdown Indicators

	QTOP	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-23.28%	-92.16%	+68.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	-25.28%	+12.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-8.69%	-86.12%	+77.43%
Average Drawdown Average peak-to-trough decline	-3.93%	-68.59%	+64.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	10.35%	-6.17%

Volatility

QTOP vs. BITI - Volatility Comparison

The current volatility for iShares Nasdaq Top 30 Stocks ETF (QTOP) is 8.33%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that QTOP 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

	QTOP	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.33%	9.13%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	18.01%	33.31%	-15.30%
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	44.23%	-22.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.79%	52.03%	-28.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.79%	52.03%	-28.24%

QTOP vs. BITI - Expense Ratio Comparison

QTOP has a 0.20% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

QTOP vs. BITI - Dividend Comparison

QTOP's dividend yield for the trailing twelve months is around 0.35%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%
QTOP iShares Nasdaq Top 30 Stocks ETF	0.35%	0.38%	0.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QTOP and BITI in my portfolio?

QTOP and BITI have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTOP or BITI?

BITI has higher volatility (9.13%) compared to QTOP (8.33%). In terms of maximum drawdown, QTOP dropped -23.28% vs BITI's -92.16%.

Which ETF is better, QTOP or BITI?

On 1-year performance, BITI leads with 58.64% vs 26.03% for QTOP. On fees, QTOP is cheaper at 0.20% per year. On volatility, QTOP has been the lower-risk option at 8.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTOP or BITI?

Over the 1-year period, BITI has performed better with a 58.64% return vs 26.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTOP or BITI?

QTOP is cheaper with a 0.20% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.17%, compared with 0.35% for QTOP.

What is the main difference between QTOP and BITI?

QTOP is categorized as Nasdaq-100, while BITI is Cryptocurrency. QTOP tracks Nasdaq-100 Top 30 Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.20% for QTOP and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.45 vs 1.09), 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.