SBIT vs. DOJE

Last updated Jun 24, 2026

SBIT (Proshares Ultrashort Bitcoin ETF) and DOJE (REX-Osprey DOGE ETF) are both Cryptocurrency funds - SBIT tracks the Bloomberg Bitcoin Index (-200%) while DOJE tracks the Dogecoin (DOGE) spot price. Both are passively managed. At a correlation of -0.83, they often move in opposite directions. SBIT charges 0.95%/yr vs 1.50%/yr for DOJE.

Performance

SBIT vs. DOJE - Performance Comparison

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

Returns By Period

In the year-to-date period, SBIT achieves a 45.97% return, which is significantly higher than DOJE's -33.36% return.

SBIT

• 1D: 6.59%
• 1M: 41.04%
• YTD: 45.97%
• 6M: 46.69%
• 1Y: 71.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DOJE

• 1D: -5.22%
• 1M: -24.51%
• YTD: -33.36%
• 6M: -40.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SBIT vs. DOJE - Yearly Performance Comparison

	2026 (YTD)	2025
SBIT Proshares Ultrashort Bitcoin ETF	45.97%	53.08%
DOJE REX-Osprey DOGE ETF	-33.36%	-58.85%

Correlation

The correlation between SBIT and DOJE 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 (All Time) Calculated using the full available price history since Sep 18, 2025	-0.83

Return for Risk

SBIT vs. DOJE — Risk / Return Rank

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

SBIT

SBIT Risk / Return Rank: 28
SBIT Sharpe Ratio Rank: 24
SBIT Sortino Ratio Rank: 31
SBIT Omega Ratio Rank: 29
SBIT Calmar Ratio Rank: 31
SBIT Martin Ratio Rank: 25

DOJE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. DOJE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and REX-Osprey DOGE ETF (DOJE). 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	DOJE	Difference
Sharpe ratio: Return per unit of total volatility	0.81	—	—
Sortino ratio: Return per unit of downside risk	1.56	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	1.49	—	—
Martin ratio: Return relative to average drawdown	3.11	—	—

Drawdowns

SBIT vs. DOJE - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, which is greater than DOJE's maximum drawdown of -72.58%. Use the drawdown chart below to compare losses from any high point for SBIT and DOJE.

Drawdown Indicators

	SBIT	DOJE	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-72.58%	-18.77%
Max Drawdown (1Y) Largest decline over 1 year	-47.94%	—	—
Current Drawdown Current decline from peak	-76.84%	-72.58%	-4.26%
Average Drawdown Average peak-to-trough decline	-68.66%	-53.24%	-15.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.93%	—	—

Volatility

Volatility by Period

	SBIT	DOJE	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	68.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	88.37%	77.81%	+10.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.39%	77.81%	+19.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.39%	77.81%	+19.58%

SBIT vs. DOJE - Expense Ratio Comparison

SBIT has a 0.95% expense ratio, which is lower than DOJE's 1.50% expense ratio.

Dividends

SBIT vs. DOJE - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 3.21%, while DOJE has not paid dividends to shareholders.

Position	TTM	2025	2024
DOJE REX-Osprey DOGE ETF	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.21%	0.52%	1.00%

Frequently Asked Questions

Can I hold both SBIT and DOJE in my portfolio?

SBIT and DOJE 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.

Which ETF is better, SBIT or DOJE?

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.

Which ETF is cheaper, SBIT or DOJE?

SBIT is cheaper with a 0.95% expense ratio, compared with 1.50% for DOJE.

Which ETF pays a higher dividend yield, SBIT or DOJE?

SBIT has the higher dividend yield at 3.21%, compared with 0.00% for DOJE.

What is the main difference between SBIT and DOJE?

SBIT tracks Bloomberg Bitcoin Index (-200%), while DOJE tracks Dogecoin (DOGE) spot price. They also come from different issuers: ProShares and REX-Osprey. Their fees differ too: 0.95% for SBIT and 1.50% for DOJE.