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SBIT vs. BTC-USD
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Correlation

The correlation between SBIT and BTC-USD is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

SBIT vs. BTC-USD

Last updated May 31, 2025

Compare and contrast key facts about Proshares Ultrashort Bitcoin ETF (SBIT) and Bitcoin (BTC-USD).

SBIT is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index (-200%). It was launched on Apr 1, 2024.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SBIT or BTC-USD.

Performance

SBIT vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Bitcoin ETF (SBIT) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

SBIT:

-0.75

BTC-USD:

1.13

Sortino Ratio

SBIT:

-1.28

BTC-USD:

2.85

Omega Ratio

SBIT:

0.85

BTC-USD:

1.30

Calmar Ratio

SBIT:

-0.90

BTC-USD:

2.03

Martin Ratio

SBIT:

-1.30

BTC-USD:

9.98

Ulcer Index

SBIT:

61.49%

BTC-USD:

11.19%

Daily Std Dev

SBIT:

105.56%

BTC-USD:

41.36%

Max Drawdown

SBIT:

-88.17%

BTC-USD:

-93.18%

Current Drawdown

SBIT:

-86.65%

BTC-USD:

-5.40%

Returns By Period

In the year-to-date period, SBIT achieves a -36.98% return, which is significantly lower than BTC-USD's 13.07% return.

SBIT

YTD

-36.98%

1M

-20.51%

6M

-35.39%

1Y

-79.47%

3Y*

N/A

5Y*

N/A

10Y*

N/A

BTC-USD

YTD

13.07%

1M

12.14%

6M

8.39%

1Y

54.53%

3Y*

49.33%

5Y*

61.22%

10Y*

85.17%

*Annualized

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Proshares Ultrashort Bitcoin ETF

Bitcoin

Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

SBIT vs. BTC-USD — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SBIT
The Risk-Adjusted Performance Rank of SBIT is 11
Overall Rank
The Sharpe Ratio Rank of SBIT is 11
Sharpe Ratio Rank
The Sortino Ratio Rank of SBIT is 11
Sortino Ratio Rank
The Omega Ratio Rank of SBIT is 11
Omega Ratio Rank
The Calmar Ratio Rank of SBIT is 00
Calmar Ratio Rank
The Martin Ratio Rank of SBIT is 22
Martin Ratio Rank
BTC-USD
The Risk-Adjusted Performance Rank of BTC-USD is 8989
Overall Rank
The Sharpe Ratio Rank of BTC-USD is 8989
Sharpe Ratio Rank
The Sortino Ratio Rank of BTC-USD is 8787
Sortino Ratio Rank
The Omega Ratio Rank of BTC-USD is 8686
Omega Ratio Rank
The Calmar Ratio Rank of BTC-USD is 9393
Calmar Ratio Rank
The Martin Ratio Rank of BTC-USD is 9191
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

SBIT vs. BTC-USD - Risk-Adjusted Performance 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.

The current SBIT Sharpe Ratio is -0.75, which is lower than the BTC-USD Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of SBIT and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Drawdowns

SBIT vs. BTC-USD - Drawdown Comparison

The maximum SBIT drawdown since its inception was -88.17%, smaller than the maximum BTC-USD drawdown of -93.18%. Use the drawdown chart below to compare losses from any high point for SBIT and BTC-USD.

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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

SBIT vs. BTC-USD - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 18.99% compared to Bitcoin (BTC-USD) at 10.22%. 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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