SBIT vs. BTC-USD
SBIT (Proshares Ultrashort Bitcoin ETF) is Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%), while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, SBIT returned 124.12% vs -47.54% for BTC-USD. At a correlation of -0.71, they often move in opposite directions.
Performance
SBIT vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SBIT achieves a 44.00% return, which is significantly higher than BTC-USD's -28.58% return.
SBIT
- 1D
- 5.38%
- 1M
- 1.44%
- 6M
- 58.27%
- YTD
- 44.00%
- 1Y
- 124.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -1.96%
- 1M
- -3.01%
- 6M
- -31.47%
- YTD
- -28.58%
- 1Y
- -47.54%
- 3Y*
- 27.25%
- 5Y*
- 13.75%
- 10Y*
- 57.45%
SBIT vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 44.00% | -25.11% | -73.74% |
BTC-USD Bitcoin | -28.58% | -6.27% | 33.97% |
Correlation
The correlation between SBIT and BTC-USD is -0.73, 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 | -0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.71 |
The correlation between SBIT and BTC-USD has been stable across timeframes, ranging from -0.73 to -0.71 - a consistent structural relationship.
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Return for Risk
SBIT vs. BTC-USD — Risk / Return Rank
SBIT
BTC-USD
SBIT vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and Bitcoin (BTC-USD). 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.
| SBIT | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.52 | ||
| Sortino ratioReturn per unit of downside risk | +3.76 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.83 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | -0.90 | +3.50 |
| Martin ratioReturn relative to average drawdown | 5.92 | -1.46 | +7.38 |
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Drawdowns
SBIT vs. BTC-USD - Drawdown Comparison
The maximum SBIT drawdown since its inception was -91.35%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SBIT and BTC-USD.
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Drawdown Indicators
| SBIT | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.35% | -85.30% | -6.05% |
Max Drawdown (1Y)Largest decline over 1 year | -47.94% | -53.08% | +5.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -53.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -77.15% | -49.89% | -27.26% |
Average DrawdownAverage peak-to-trough decline | -68.83% | -42.55% | -26.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.04% | 28.99% | -7.95% |
Volatility
SBIT vs. BTC-USD - Volatility Comparison
Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 22.98% compared to Bitcoin (BTC-USD) at 8.86%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBIT | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.98% | 8.86% | +14.12% |
Volatility (6M)Calculated over the trailing 6-month period | 68.89% | 34.96% | +33.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.51% | 35.56% | +52.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.89% | 43.94% | +52.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.89% | 56.32% | +40.57% |
Frequently Asked Questions
SBIT and BTC-USD have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (22.98%) compared to BTC-USD (8.86%). In terms of maximum drawdown, SBIT dropped -91.35% vs BTC-USD's -85.30%.
SBIT currently has the higher Sharpe Ratio (1.41 vs -1.11), 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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