QVAL vs. BITI

Last updated Jul 14, 2026

QVAL (Alpha Architect U.S. Quantitative Value ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - QVAL is a Mid Cap Value Equities fund actively managed by Alpha Architect, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. QVAL is actively managed, while BITI is passively managed. Over the past 3 years, QVAL returned 19.70%/yr vs -30.65%/yr for BITI. At a correlation of -0.31, they often move in opposite directions. QVAL charges 0.28%/yr vs 1.03%/yr for BITI.

Performance

QVAL vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect U.S. Quantitative Value ETF (QVAL) 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, QVAL achieves a 17.24% return, which is significantly lower than BITI's 28.75% return.

QVAL

• 1D: 0.58%
• 1M: 0.23%
• 6M: 12.19%
• YTD: 17.24%
• 1Y: 29.66%
• 3Y*: 19.70%
• 5Y*: 12.86%
• 10Y*: 11.55%

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

QVAL vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QVAL Alpha Architect U.S. Quantitative Value ETF	17.24%	10.98%	12.21%	28.40%	5.95%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between QVAL and BITI is -0.27, 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	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.26
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.31

Return for Risk

QVAL vs. BITI — Risk / Return Rank

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

QVAL

QVAL Risk / Return Rank: 84
QVAL Sharpe Ratio Rank: 81
QVAL Sortino Ratio Rank: 87
QVAL Omega Ratio Rank: 75
QVAL Calmar Ratio Rank: 92
QVAL Martin Ratio Rank: 86

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

QVAL vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect U.S. Quantitative Value ETF (QVAL) 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.

	QVAL	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.56	+0.49
Sortino ratio: Return per unit of downside risk	3.15	2.13	+1.02
Omega ratio: Gain probability vs. loss probability	1.35	1.26	+0.09
Calmar ratio: Return relative to maximum drawdown	4.94	2.72	+2.22
Martin ratio: Return relative to average drawdown	14.02	6.78	+7.24

QVAL vs. BITI - Sharpe Ratio Comparison

The current QVAL Sharpe Ratio is 2.05, which is higher than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of QVAL 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

QVAL vs. BITI - Drawdown Comparison

The maximum QVAL drawdown since its inception was -51.49%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for QVAL and BITI.

Drawdown Indicators

	QVAL	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-51.49%	-92.16%	+40.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-25.28%	+19.24%
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	-84.63%	+63.22%
Max Drawdown (5Y) Largest decline over 5 years	-27.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.49%	—	—
Current Drawdown Current decline from peak	0.00%	-85.94%	+85.94%
Average Drawdown Average peak-to-trough decline	-7.73%	-68.34%	+60.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	10.11%	-7.98%

Volatility

QVAL vs. BITI - Volatility Comparison

The current volatility for Alpha Architect U.S. Quantitative Value ETF (QVAL) is 3.80%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that QVAL 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

	QVAL	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	11.38%	-7.58%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	34.25%	-24.20%
Volatility (1Y) Calculated over the trailing 1-year period	14.54%	44.14%	-29.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.60%	52.28%	-30.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	52.28%	-29.58%

QVAL vs. BITI - Expense Ratio Comparison

QVAL has a 0.28% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

QVAL vs. BITI - Dividend Comparison

QVAL's dividend yield for the trailing twelve months is around 1.46%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QVAL Alpha Architect U.S. Quantitative Value ETF	1.46%	1.44%	1.72%	1.76%	2.00%	1.23%	1.86%	1.99%	1.64%	1.08%	1.30%

Frequently Asked Questions

Can I hold both QVAL and BITI in my portfolio?

QVAL and BITI have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QVAL or BITI?

BITI has higher volatility (11.38%) compared to QVAL (3.80%). In terms of maximum drawdown, QVAL dropped -51.49% vs BITI's -92.16%.

Which ETF is better, QVAL or BITI?

On 3-year performance, QVAL leads with 19.70% vs -30.65% for BITI. On fees, QVAL is cheaper at 0.28% per year. On volatility, QVAL has been the lower-risk option at 3.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QVAL or BITI?

Over the 3-year period, QVAL has performed better with a 19.70% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QVAL or BITI?

QVAL is cheaper with a 0.28% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 1.46% for QVAL.

What is the main difference between QVAL and BITI?

QVAL is categorized as Mid Cap Value Equities, while BITI is Cryptocurrency. They also come from different issuers: Alpha Architect and ProShares. Their fees differ too: 0.28% for QVAL and 1.03% for BITI.

Which has better risk-adjusted returns?

QVAL currently has the higher Sharpe Ratio (2.05 vs 1.56), 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.