SBIT vs. IBLC
SBIT (Proshares Ultrashort Bitcoin ETF) and IBLC (iShares Blockchain and Tech ETF) are both Cryptocurrency funds - SBIT tracks the Bloomberg Bitcoin Index (-200%) while IBLC tracks the ICE FactSet Global Blockchain Technologies Index. Both are passively managed. Over the past year, SBIT returned 68.00% vs 73.27% for IBLC. At a correlation of -0.71, they often move in opposite directions. SBIT charges 0.95%/yr vs 0.47%/yr for IBLC.
Performance
SBIT vs. IBLC - Performance Comparison
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Returns By Period
In the year-to-date period, SBIT achieves a 37.02% return, which is significantly higher than IBLC's 32.34% return.
SBIT
- 1D
- 5.42%
- 1M
- 46.58%
- YTD
- 37.02%
- 6M
- 52.37%
- 1Y
- 68.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBLC
- 1D
- -3.00%
- 1M
- 13.52%
- YTD
- 32.34%
- 6M
- 15.25%
- 1Y
- 73.27%
- 3Y*
- 48.31%
- 5Y*
- —
- 10Y*
- —
SBIT vs. IBLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 37.02% | -25.11% | -73.13% |
IBLC iShares Blockchain and Tech ETF | 32.34% | 27.05% | 20.57% |
Correlation
The correlation between SBIT and IBLC is -0.71, 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 (1Y) Calculated over the trailing 1-year period | -0.71 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024 | -0.71 |
The correlation between SBIT and IBLC has been stable across timeframes, ranging from -0.71 to -0.71 - a consistent structural relationship.
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Return for Risk
SBIT vs. IBLC — Risk / Return Rank
SBIT
IBLC
SBIT vs. IBLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and iShares Blockchain and Tech ETF (IBLC). 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 | IBLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.64 | -0.21 |
| Martin ratioReturn relative to average drawdown | 2.76 | 3.26 | -0.50 |
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 | IBLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 1.34 | -0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.46 | 0.40 | -0.86 |
Drawdowns
SBIT vs. IBLC - Drawdown Comparison
The maximum SBIT drawdown since its inception was -91.35%, which is greater than IBLC's maximum drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for SBIT and IBLC.
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Drawdown Indicators
| SBIT | IBLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.35% | -62.54% | -28.81% |
Max Drawdown (1Y)Largest decline over 1 year | -47.94% | -44.94% | -3.00% |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.68% | — |
Current DrawdownCurrent decline from peak | -78.26% | -12.99% | -65.27% |
Average DrawdownAverage peak-to-trough decline | -68.55% | -25.89% | -42.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.69% | 22.56% | +2.13% |
Volatility
SBIT vs. IBLC - Volatility Comparison
Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 18.22% compared to iShares Blockchain and Tech ETF (IBLC) at 14.67%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than IBLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBIT | IBLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.22% | 14.67% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 68.46% | 40.76% | +27.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.18% | 54.94% | +32.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.47% | 64.49% | +32.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.47% | 64.49% | +32.98% |
SBIT vs. IBLC - Expense Ratio Comparison
SBIT has a 0.95% expense ratio, which is higher than IBLC's 0.47% expense ratio.
Dividends
SBIT vs. IBLC - Dividend Comparison
SBIT's dividend yield for the trailing twelve months is around 3.42%, less than IBLC's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBLC iShares Blockchain and Tech ETF | 4.77% | 6.31% | 1.60% | 1.79% | 0.84% |
SBIT Proshares Ultrashort Bitcoin ETF | 3.42% | 0.52% | 1.00% | 0.00% | 0.00% |
Frequently Asked Questions
SBIT and IBLC have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.22%) compared to IBLC (14.67%). In terms of maximum drawdown, SBIT dropped -91.35% vs IBLC's -62.54%.
On 1-year performance, IBLC leads with 73.27% vs 68.00% for SBIT. On fees, IBLC is cheaper at 0.47% per year. On volatility, IBLC has been the lower-risk option at 14.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBLC has performed better with a 73.27% return vs 68.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBLC is cheaper with a 0.47% expense ratio, compared with 0.95% for SBIT.
IBLC has the higher dividend yield at 4.77%, compared with 3.42% for SBIT.
SBIT tracks Bloomberg Bitcoin Index (-200%), while IBLC tracks ICE FactSet Global Blockchain Technologies Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SBIT and 0.47% for IBLC.
IBLC currently has the higher Sharpe Ratio (1.34 vs 0.78), 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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