SBIT vs. BTCFX

Last updated Apr 1, 2026

Compare and contrast key facts about Proshares Ultrashort Bitcoin ETF (SBIT) and Bitcoin ProFund Investor (BTCFX).

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. BTCFX is managed by ProFunds. It was launched on Jul 28, 2021.

Performance

SBIT vs. BTCFX - Performance Comparison

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

SBIT vs. BTCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	32.95%	-25.11%	-73.13%
BTCFX Bitcoin ProFund Investor	-24.74%	-11.83%	33.01%

Returns By Period

In the year-to-date period, SBIT achieves a 32.95% return, which is significantly higher than BTCFX's -24.74% return.

SBIT

• 1D: -3.83%
• 1M: -10.83%
• YTD: 32.95%
• 6M: 101.70%
• 1Y: -10.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCFX

• 1D: 0.68%
• 1M: 0.89%
• YTD: -24.74%
• 6M: -43.37%
• 1Y: -23.48%
• 3Y*: 22.62%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SBIT vs. BTCFX - Expense Ratio Comparison

SBIT has a 0.95% expense ratio, which is lower than BTCFX's 1.41% expense ratio.

BTCFX

Bitcoin ProFund Investor

SBIT

Proshares Ultrashort Bitcoin ETF

Return for Risk

SBIT vs. BTCFX — Risk / Return Rank

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

SBIT

SBIT Risk / Return Rank: 14
SBIT Sharpe Ratio Rank: 10
SBIT Sortino Ratio Rank: 19
SBIT Omega Ratio Rank: 18
SBIT Calmar Ratio Rank: 10
SBIT Martin Ratio Rank: 11

BTCFX

BTCFX Risk / Return Rank: 2
BTCFX Sharpe Ratio Rank: 1
BTCFX Sortino Ratio Rank: 2
BTCFX Omega Ratio Rank: 2
BTCFX Calmar Ratio Rank: 1
BTCFX Martin Ratio Rank: 2

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.

SBIT vs. BTCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and Bitcoin ProFund Investor (BTCFX). 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	BTCFX	Difference
Sharpe ratio Return per unit of total volatility	-0.11	-0.54	+0.43
Sortino ratio Return per unit of downside risk	0.48	-0.54	+1.02
Omega ratio Gain probability vs. loss probability	1.06	0.94	+0.12
Calmar ratio Return relative to maximum drawdown	-0.11	-0.55	+0.44
Martin ratio Return relative to average drawdown	-0.16	-1.17	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBIT vs. BTCFX - Sharpe Ratio Comparison

The current SBIT Sharpe Ratio is -0.11, which is higher than the BTCFX Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of SBIT and BTCFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SBIT	BTCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	-0.54	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	-0.49	0.03	-0.52

Correlation

The correlation between SBIT and BTCFX is -1.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SBIT vs. BTCFX - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 2.91%, less than BTCFX's 50.55% yield.

	TTM	2025	2024	2023
SBIT Proshares Ultrashort Bitcoin ETF	2.91%	0.52%	1.00%	0.00%
BTCFX Bitcoin ProFund Investor	50.55%	44.62%	24.28%	10.95%

Drawdowns

SBIT vs. BTCFX - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, which is greater than BTCFX's maximum drawdown of -77.89%. Use the drawdown chart below to compare losses from any high point for SBIT and BTCFX.

Drawdown Indicators

	SBIT	BTCFX	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-77.89%	-13.46%
Max Drawdown (1Y) Largest decline over 1 year	-67.11%	-50.35%	-16.76%
Current Drawdown Current decline from peak	-78.90%	-48.39%	-30.51%
Average Drawdown Average peak-to-trough decline	-67.26%	-35.74%	-31.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.11%	23.55%	+23.56%

Volatility

SBIT vs. BTCFX - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 26.36% compared to Bitcoin ProFund Investor (BTCFX) at 14.09%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than BTCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIT	BTCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.36%	14.09%	+12.27%
Volatility (6M) Calculated over the trailing 6-month period	72.96%	37.30%	+35.66%
Volatility (1Y) Calculated over the trailing 1-year period	90.44%	45.81%	+44.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	99.68%	56.08%	+43.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.68%	56.08%	+43.60%