SBIT vs. BTCE.DE
SBIT (Proshares Ultrashort Bitcoin ETF) and BTCE.DE (ETC Group Physical Bitcoin) are both Cryptocurrency funds. SBIT is passively managed, while BTCE.DE is actively managed. Over the past year, SBIT returned 68.00% vs -39.09% for BTCE.DE. At a correlation of -0.74, they often move in opposite directions. SBIT charges 0.95%/yr vs 2.00%/yr for BTCE.DE.
Performance
SBIT vs. BTCE.DE - Performance Comparison
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Different Trading Currencies
SBIT is traded in USD, while BTCE.DE is traded in EUR. To make them comparable, the BTCE.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SBIT achieves a 37.02% return, which is significantly higher than BTCE.DE's -25.06% return.
SBIT
- 1D
- 5.42%
- 1M
- 46.58%
- YTD
- 37.02%
- 6M
- 52.37%
- 1Y
- 68.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCE.DE
- 1D
- -1.24%
- 1M
- -16.74%
- YTD
- -25.06%
- 6M
- -29.16%
- 1Y
- -39.09%
- 3Y*
- 32.32%
- 5Y*
- 10.19%
- 10Y*
- —
SBIT vs. BTCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 37.02% | -25.11% | -73.13% |
BTCE.DE ETC Group Physical Bitcoin | -25.06% | -7.65% | 39.35% |
Correlation
The correlation between SBIT and BTCE.DE is -0.83, 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 | -0.83 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024 | -0.74 |
The correlation between SBIT and BTCE.DE has been stable across timeframes, ranging from -0.83 to -0.74 - a consistent structural relationship.
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Return for Risk
SBIT vs. BTCE.DE — Risk / Return Rank
SBIT
BTCE.DE
SBIT vs. BTCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and ETC Group Physical Bitcoin (BTCE.DE). 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.
| SBIT | BTCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.85 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | -0.79 | +2.21 |
| Martin ratioReturn relative to average drawdown | 2.76 | -1.37 | +4.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SBIT | BTCE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | -0.98 | +1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.46 | 0.60 | -1.07 |
Drawdowns
SBIT vs. BTCE.DE - Drawdown Comparison
The maximum SBIT drawdown since its inception was -91.35%, which is greater than BTCE.DE's maximum drawdown of -77.07%. Use the drawdown chart below to compare losses from any high point for SBIT and BTCE.DE.
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Drawdown Indicators
| SBIT | BTCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.35% | -77.07% | -14.28% |
Max Drawdown (1Y)Largest decline over 1 year | -47.94% | -49.50% | +1.56% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.07% | — |
Current DrawdownCurrent decline from peak | -78.26% | -47.76% | -30.50% |
Average DrawdownAverage peak-to-trough decline | -68.55% | -31.23% | -37.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.69% | 28.46% | -3.77% |
Volatility
SBIT vs. BTCE.DE - Volatility Comparison
Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 18.22% compared to ETC Group Physical Bitcoin (BTCE.DE) at 9.60%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than BTCE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBIT | BTCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.22% | 9.60% | +8.62% |
Volatility (6M)Calculated over the trailing 6-month period | 68.46% | 31.13% | +37.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.18% | 39.93% | +47.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.47% | 53.26% | +44.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.47% | 58.58% | +38.89% |
SBIT vs. BTCE.DE - Expense Ratio Comparison
SBIT has a 0.95% expense ratio, which is lower than BTCE.DE's 2.00% expense ratio.
Dividends
SBIT vs. BTCE.DE - Dividend Comparison
SBIT's dividend yield for the trailing twelve months is around 3.42%, while BTCE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | 0.00% | 0.00% | 0.00% |
SBIT Proshares Ultrashort Bitcoin ETF | 3.42% | 0.52% | 1.00% |
Frequently Asked Questions
SBIT and BTCE.DE have a correlation of -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SBIT is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SBIT is cheaper with a 0.95% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: ProShares and ETC Issuance. Their fees differ too: 0.95% for SBIT and 2.00% for BTCE.DE.
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