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 60.90% vs -36.56% 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 36.95% return, which is significantly higher than BTC-USD's -26.78% return.
SBIT
- 1D
- -4.88%
- 1M
- 32.33%
- YTD
- 36.95%
- 6M
- 39.87%
- 1Y
- 60.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 1.32%
- 1M
- -16.41%
- YTD
- -26.78%
- 6M
- -27.65%
- 1Y
- -36.56%
- 3Y*
- 27.78%
- 5Y*
- 13.72%
- 10Y*
- 57.78%
SBIT vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 36.95% | -25.11% | -73.74% |
BTC-USD Bitcoin | -26.78% | -6.27% | 33.97% |
Correlation
The correlation between SBIT and BTC-USD is -0.71, 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 | -0.71 |
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 -0.71 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 | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.88 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | -0.71 | +1.99 |
| Martin ratioReturn relative to average drawdown | 2.55 | -1.20 | +3.76 |
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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% | -51.21% | +3.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.21% | — |
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 | -78.27% | -48.63% | -29.64% |
Average DrawdownAverage peak-to-trough decline | -68.64% | -42.41% | -26.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.92% | 31.17% | -7.25% |
Volatility
SBIT vs. BTC-USD - Volatility Comparison
Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 25.73% compared to Bitcoin (BTC-USD) at 12.27%. 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 | 25.73% | 12.27% | +13.46% |
Volatility (6M)Calculated over the trailing 6-month period | 68.55% | 34.57% | +33.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.33% | 35.70% | +52.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.37% | 44.28% | +53.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.37% | 56.43% | +40.94% |
Frequently Asked Questions
SBIT and BTC-USD have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (25.73%) compared to BTC-USD (12.27%). In terms of maximum drawdown, SBIT dropped -91.35% vs BTC-USD's -85.30%.
SBIT currently has the higher Sharpe Ratio (0.69 vs -0.85), 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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