Correlation
The correlation between SBIT and IBIT is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
SBIT vs. IBIT
Compare and contrast key facts about Proshares Ultrashort Bitcoin ETF (SBIT) and iShares Bitcoin Trust (IBIT).
SBIT and IBIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024. Both SBIT and IBIT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SBIT or IBIT.
Performance
SBIT vs. IBIT - Performance Comparison
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Key characteristics
SBIT:
-0.75
IBIT:
0.99
SBIT:
-1.28
IBIT:
1.63
SBIT:
0.85
IBIT:
1.19
SBIT:
-0.90
IBIT:
1.86
SBIT:
-1.30
IBIT:
4.07
SBIT:
61.49%
IBIT:
12.91%
SBIT:
105.56%
IBIT:
53.01%
SBIT:
-88.17%
IBIT:
-28.22%
SBIT:
-86.65%
IBIT:
-5.96%
Returns By Period
In the year-to-date period, SBIT achieves a -36.98% return, which is significantly lower than IBIT's 12.08% return.
SBIT
-36.98%
-20.51%
-35.39%
-79.47%
N/A
N/A
N/A
IBIT
12.08%
11.12%
7.70%
51.84%
N/A
N/A
N/A
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SBIT vs. IBIT - Expense Ratio Comparison
SBIT has a 0.95% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Risk-Adjusted Performance
SBIT vs. IBIT — Risk-Adjusted Performance Rank
SBIT
IBIT
SBIT vs. IBIT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and iShares Bitcoin Trust (IBIT). 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.
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Dividends
SBIT vs. IBIT - Dividend Comparison
SBIT's dividend yield for the trailing twelve months is around 1.28%, while IBIT has not paid dividends to shareholders.
| TTM | 2024 | |
|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 1.28% | 1.01% |
IBIT iShares Bitcoin Trust | 0.00% | 0.00% |
Drawdowns
SBIT vs. IBIT - Drawdown Comparison
The maximum SBIT drawdown since its inception was -88.17%, which is greater than IBIT's maximum drawdown of -28.22%. Use the drawdown chart below to compare losses from any high point for SBIT and IBIT.
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Volatility
SBIT vs. IBIT - Volatility Comparison
Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 18.99% compared to iShares Bitcoin Trust (IBIT) at 9.41%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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