SBIT vs. BTG-USD
SBIT (Proshares Ultrashort Bitcoin ETF) is Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%), while BTG-USD (Bitcoin Gold) is a cryptocurrency. Over the past year, SBIT returned 80.04% vs -69.06% for BTG-USD. At a correlation of -0.15, they often move in opposite directions.
Performance
SBIT vs. BTG-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SBIT achieves a 59.48% return, which is significantly higher than BTG-USD's -69.73% return.
SBIT
- 1D
- 10.35%
- 1M
- 76.95%
- YTD
- 59.48%
- 6M
- 64.44%
- 1Y
- 80.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTG-USD
- 1D
- -32.45%
- 1M
- -64.54%
- YTD
- -69.73%
- 6M
- -44.71%
- 1Y
- -69.06%
- 3Y*
- -73.49%
- 5Y*
- -67.20%
- 10Y*
- —
SBIT vs. BTG-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 59.48% | -25.11% | -73.13% |
BTG-USD Bitcoin Gold | -69.73% | -92.37% | -79.71% |
Correlation
The correlation between SBIT and BTG-USD is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024 | -0.15 |
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Return for Risk
SBIT vs. BTG-USD — Risk / Return Rank
SBIT
BTG-USD
SBIT vs. BTG-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and Bitcoin Gold (BTG-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.
| SBIT | BTG-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | -6.29 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.85 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | -0.74 | +2.41 |
| Martin ratioReturn relative to average drawdown | 3.39 | -0.95 | +4.34 |
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 | BTG-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | -0.07 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | -0.15 | -0.27 |
Drawdowns
SBIT vs. BTG-USD - Drawdown Comparison
The maximum SBIT drawdown since its inception was -91.35%, smaller than the maximum BTG-USD drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for SBIT and BTG-USD.
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Drawdown Indicators
| SBIT | BTG-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.35% | -99.96% | +8.61% |
Max Drawdown (1Y)Largest decline over 1 year | -47.94% | -93.80% | +45.86% |
Max Drawdown (3Y)Largest decline over 3 years | — | -99.67% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.77% | — |
Current DrawdownCurrent decline from peak | -74.69% | -99.95% | +25.26% |
Average DrawdownAverage peak-to-trough decline | -68.58% | -93.34% | +24.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.71% | 64.69% | -39.98% |
Volatility
SBIT vs. BTG-USD - Volatility Comparison
The current volatility for Proshares Ultrashort Bitcoin ETF (SBIT) is 18.87%, while Bitcoin Gold (BTG-USD) has a volatility of 117.63%. This indicates that SBIT experiences smaller price fluctuations and is considered to be less risky than BTG-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 | BTG-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.87% | 117.63% | -98.76% |
Volatility (6M)Calculated over the trailing 6-month period | 67.66% | 594.15% | -526.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.79% | 792.69% | -704.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.62% | 376.47% | -278.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.62% | 300.06% | -202.44% |
Frequently Asked Questions
SBIT and BTG-USD have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTG-USD has higher volatility (117.63%) compared to SBIT (18.87%). In terms of maximum drawdown, SBIT dropped -91.35% vs BTG-USD's -99.96%.
SBIT currently has the higher Sharpe Ratio (0.92 vs -0.07), 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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