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 113.57% vs -64.05% for BTG-USD. At a correlation of -0.12, 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 34.85% return, which is significantly higher than BTG-USD's -65.06% return.
SBIT
- 1D
- 0.23%
- 1M
- -2.47%
- 6M
- 63.43%
- YTD
- 34.85%
- 1Y
- 113.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTG-USD
- 1D
- -30.55%
- 1M
- -16.98%
- 6M
- -84.94%
- YTD
- -65.06%
- 1Y
- -64.05%
- 3Y*
- -73.56%
- 5Y*
- -63.51%
- 10Y*
- —
SBIT vs. BTG-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 34.85% | -25.11% | -73.74% |
BTG-USD Bitcoin Gold | -65.06% | -92.37% | -81.18% |
Correlation
The correlation between SBIT and BTG-USD is -0.01, 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 | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.12 |
The correlation between SBIT and BTG-USD shifts across timeframes, from -0.12 (all time) to -0.01 (1 year), reflecting how their relationship changes across market environments.
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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.
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 | BTG-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | -4.68 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.70 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | -0.69 | +3.07 |
| Martin ratioReturn relative to average drawdown | 5.38 | -1.01 | +6.39 |
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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% | -93.25% | +45.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -99.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.79% | — |
Current DrawdownCurrent decline from peak | -78.60% | -99.94% | +21.34% |
Average DrawdownAverage peak-to-trough decline | -68.90% | -93.39% | +24.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.21% | 67.80% | -46.59% |
Volatility
SBIT vs. BTG-USD - Volatility Comparison
The current volatility for Proshares Ultrashort Bitcoin ETF (SBIT) is 21.38%, while Bitcoin Gold (BTG-USD) has a volatility of 124.70%. 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 | 21.38% | 124.70% | -103.32% |
Volatility (6M)Calculated over the trailing 6-month period | 68.54% | 575.50% | -506.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.33% | 681.37% | -593.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.69% | 380.15% | -283.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.69% | 301.18% | -204.49% |
Frequently Asked Questions
SBIT and BTG-USD have a correlation of -0.01, 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 (124.70%) compared to SBIT (21.38%). In terms of maximum drawdown, SBIT dropped -91.35% vs BTG-USD's -99.96%.
SBIT currently has the higher Sharpe Ratio (1.29 vs -0.08), 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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