RYLD vs. BITI
RYLD (Global X Russell 2000 Covered Call ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, RYLD returned 8.70%/yr vs -32.35%/yr for BITI. Their -0.37 correlation means they have often moved in opposite directions in the past. RYLD charges 0.60%/yr vs 1.03%/yr for BITI.
Performance
RYLD vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, RYLD achieves a 13.48% return, which is significantly lower than BITI's 25.22% return.
RYLD
- 1D
- 1.06%
- 1M
- 2.27%
- 6M
- 10.40%
- YTD
- 13.48%
- 1Y
- 26.26%
- 3Y*
- 8.70%
- 5Y*
- 3.43%
- 10Y*
- —
- ALL TIME*
- 5.95%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.18M | $25.87M | $38.72M | |
| $9.87M | $9.43M | $9.08M |
RYLD vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RYLD Global X Russell 2000 Covered Call ETF | 13.48% | 5.65% | 10.13% | 0.27% | -0.31% |
BITI ProShares Short Bitcoin ETF | 25.22% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between RYLD and BITI is -0.51, 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. | -0.51 |
Correlation (3Y) Balances recent behavior with more history. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.37 |
The correlation between RYLD and BITI shifts across timeframes, from -0.51 (1 year) to -0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RYLD vs. BITI — Risk / Return Rank
RYLD
BITI
RYLD vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call ETF (RYLD) 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.
| RYLD | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.22 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.19 | 2.24 | +1.95 |
| Martin ratioReturn relative to average drawdown | 17.17 | 5.45 | +11.72 |
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Drawdowns
RYLD vs. BITI - Drawdown Comparison
The maximum RYLD drawdown since its inception was -41.53%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for RYLD and BITI.
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Drawdown Indicators
| RYLD | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -92.16% | +50.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.29% | -25.28% | +18.99% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -84.63% | +65.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.33% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -86.33% | +86.33% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -68.61% | +59.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 10.37% | -8.84% |
Volatility
RYLD vs. BITI - Volatility Comparison
The current volatility for Global X Russell 2000 Covered Call ETF (RYLD) is 2.30%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. This indicates that RYLD 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
| RYLD | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 8.93% | -6.63% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 33.35% | -25.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.58% | 44.25% | -33.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.98% | 52.01% | -38.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 52.01% | -34.97% |
RYLD vs. BITI - Expense Ratio Comparison
RYLD has a 0.60% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
RYLD vs. BITI - Dividend Comparison
RYLD's dividend yield for the trailing twelve months is around 11.50%, less than BITI's 21.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.80% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% |
RYLD Global X Russell 2000 Covered Call ETF | 11.50% | 12.00% | 12.03% | 12.64% | 13.49% | 12.35% | 10.76% | 6.43% |
Frequently Asked Questions
RYLD and BITI have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (8.93%) compared to RYLD (2.30%). In terms of maximum drawdown, RYLD dropped -41.53% vs BITI's -92.16%.
On 3-year performance, RYLD leads with 8.70% vs -32.35% for BITI. On fees, RYLD is cheaper at 0.60% per year. On volatility, RYLD has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, RYLD has performed better with a 8.70% return vs -32.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RYLD is cheaper with a 0.60% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 21.80%, compared with 11.50% for RYLD.
RYLD is categorized as Derivative Income, while BITI is Cryptocurrency. RYLD tracks CBOE Russell 2000 BuyWrite Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.60% for RYLD and 1.03% for BITI.
RYLD currently has the higher Sharpe Ratio (2.50 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.
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