RYLG vs. BITI

Last updated Jul 14, 2026

RYLG (Global X Russell 2000 Covered Call & Growth ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - RYLG is a Derivative Income fund tracking the Cboe Russell 2000 Half BuyWrite Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, RYLG returned 12.17%/yr vs -30.65%/yr for BITI. At a correlation of -0.41, they often move in opposite directions. RYLG charges 0.35%/yr vs 1.03%/yr for BITI.

Performance

RYLG vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Russell 2000 Covered Call & Growth ETF (RYLG) 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, RYLG achieves a 15.01% return, which is significantly lower than BITI's 28.75% return.

RYLG

• 1D: -0.66%
• 1M: 1.10%
• 6M: 10.22%
• YTD: 15.01%
• 1Y: 26.35%
• 3Y*: 12.17%
• 5Y*: —
• 10Y*: —

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)

RYLG vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RYLG Global X Russell 2000 Covered Call & Growth ETF	15.01%	9.39%	10.57%	8.33%	-2.32%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	8.76%

Correlation

The correlation between RYLG and BITI is -0.50, 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	-0.50
Correlation (3Y) Calculated over the trailing 3-year period	-0.42
Correlation (All Time) Calculated using the full available price history since Oct 5, 2022	-0.41

Return for Risk

RYLG vs. BITI — Risk / Return Rank

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

RYLG

RYLG Risk / Return Rank: 73
RYLG Sharpe Ratio Rank: 70
RYLG Sortino Ratio Rank: 70
RYLG Omega Ratio Rank: 66
RYLG Calmar Ratio Rank: 78
RYLG Martin Ratio Rank: 81

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.

RYLG vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call & Growth ETF (RYLG) 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.

	RYLG	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.56	+0.22
Sortino ratio: Return per unit of downside risk	2.53	2.13	+0.40
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.06
Calmar ratio: Return relative to maximum drawdown	3.24	2.72	+0.52
Martin ratio: Return relative to average drawdown	12.43	6.78	+5.65

RYLG vs. BITI - Sharpe Ratio Comparison

The current RYLG Sharpe Ratio is 1.78, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of RYLG 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

RYLG vs. BITI - Drawdown Comparison

The maximum RYLG drawdown since its inception was -22.37%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for RYLG and BITI.

Drawdown Indicators

	RYLG	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-22.37%	-92.16%	+69.79%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-25.28%	+17.10%
Max Drawdown (3Y) Largest decline over 3 years	-22.37%	-84.63%	+62.26%
Current Drawdown Current decline from peak	-1.09%	-85.94%	+84.85%
Average Drawdown Average peak-to-trough decline	-4.04%	-68.34%	+64.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	10.11%	-7.98%

Volatility

RYLG vs. BITI - Volatility Comparison

The current volatility for Global X Russell 2000 Covered Call & Growth ETF (RYLG) is 3.09%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that RYLG 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

	RYLG	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	11.38%	-8.29%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	34.25%	-23.29%
Volatility (1Y) Calculated over the trailing 1-year period	14.94%	44.14%	-29.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.05%	52.28%	-35.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	52.28%	-35.23%

RYLG vs. BITI - Expense Ratio Comparison

RYLG has a 0.35% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

RYLG vs. BITI - Dividend Comparison

RYLG's dividend yield for the trailing twelve months is around 10.25%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%
RYLG Global X Russell 2000 Covered Call & Growth ETF	10.25%	10.82%	23.73%	5.78%	4.36%

Frequently Asked Questions

Can I hold both RYLG and BITI in my portfolio?

RYLG and BITI have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYLG or BITI?

BITI has higher volatility (11.38%) compared to RYLG (3.09%). In terms of maximum drawdown, RYLG dropped -22.37% vs BITI's -92.16%.

Which ETF is better, RYLG or BITI?

On 3-year performance, RYLG leads with 12.17% vs -30.65% for BITI. On fees, RYLG is cheaper at 0.35% per year. On volatility, RYLG has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RYLG or BITI?

Over the 3-year period, RYLG has performed better with a 12.17% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RYLG or BITI?

RYLG is cheaper with a 0.35% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.10%, compared with 10.25% for RYLG.

What is the main difference between RYLG and BITI?

RYLG is categorized as Derivative Income, while BITI is Cryptocurrency. RYLG tracks Cboe Russell 2000 Half BuyWrite Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.35% for RYLG and 1.03% for BITI.

Which has better risk-adjusted returns?

RYLG currently has the higher Sharpe Ratio (1.78 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.