QYLD vs. BITI
QYLD (Global X NASDAQ 100 Covered Call ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, QYLD returned 13.71%/yr vs -31.54%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. QYLD charges 0.60%/yr vs 1.03%/yr for BITI.
Performance
QYLD vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, QYLD achieves a 10.42% return, which is significantly lower than BITI's 23.84% return.
QYLD
- 1D
- 1.21%
- 1M
- 2.57%
- 6M
- 9.06%
- YTD
- 10.42%
- 1Y
- 23.40%
- 3Y*
- 13.71%
- 5Y*
- 8.57%
- 10Y*
- 9.99%
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
QYLD vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
QYLD Global X NASDAQ 100 Covered Call ETF | 10.42% | 9.28% | 19.35% | 22.77% | -1.47% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between QYLD and BITI is -0.45, 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 | -0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.35 |
The correlation between QYLD and BITI shifts across timeframes, from -0.45 (1 year) to -0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
QYLD vs. BITI — Risk / Return Rank
QYLD
BITI
QYLD vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) 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.
| QYLD | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.24 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.73 | 2.56 | +2.17 |
| Martin ratioReturn relative to average drawdown | 24.61 | 6.37 | +18.24 |
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Drawdowns
QYLD vs. BITI - Drawdown Comparison
The maximum QYLD drawdown since its inception was -24.75%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for QYLD and BITI.
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Drawdown Indicators
| QYLD | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -92.16% | +67.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -25.28% | +20.31% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -84.63% | +65.57% |
Max Drawdown (5Y)Largest decline over 5 years | -24.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | — | — |
Current DrawdownCurrent decline from peak | -0.49% | -86.48% | +85.99% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -68.36% | +64.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 10.13% | -9.18% |
Volatility
QYLD vs. BITI - Volatility Comparison
The current volatility for Global X NASDAQ 100 Covered Call ETF (QYLD) is 5.57%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that QYLD 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.
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Volatility by Period
| QYLD | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.57% | 11.73% | -6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 9.45% | 34.49% | -25.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.61% | 44.24% | -33.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.97% | 52.29% | -37.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 52.29% | -36.70% |
QYLD vs. BITI - Expense Ratio Comparison
QYLD has a 0.60% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
QYLD vs. BITI - Dividend Comparison
QYLD's dividend yield for the trailing twelve months is around 11.42%, less than BITI's 15.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.70% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.42% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
Frequently Asked Questions
QYLD and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.73%) compared to QYLD (5.57%). In terms of maximum drawdown, QYLD dropped -24.75% vs BITI's -92.16%.
On 3-year performance, QYLD leads with 13.71% vs -31.54% for BITI. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QYLD has performed better with a 13.71% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QYLD is cheaper with a 0.60% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 11.42% for QYLD.
QYLD is categorized as Nasdaq-100, while BITI is Cryptocurrency. QYLD tracks CBOE NASDAQ-100 Buy Write V2, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.60% for QYLD and 1.03% for BITI.
QYLD currently has the higher Sharpe Ratio (2.22 vs 1.46), 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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