SBIT vs. IQQQ

Last updated Jun 26, 2026

SBIT (Proshares Ultrashort Bitcoin ETF) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, SBIT returned 106.87% vs 29.47% for IQQQ. At a correlation of -0.45, they often move in opposite directions. SBIT charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

SBIT vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBIT achieves a 61.33% return, which is significantly higher than IQQQ's 13.95% return.

SBIT

• 1D: 2.31%
• 1M: 56.16%
• YTD: 61.33%
• 6M: 60.82%
• 1Y: 106.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IQQQ

• 1D: 0.87%
• 1M: -2.10%
• YTD: 13.95%
• 6M: 12.28%
• 1Y: 29.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SBIT vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	61.33%	-25.11%	-73.74%
IQQQ ProShares Nasdaq-100 High Income ETF	13.95%	17.11%	12.87%

Correlation

The correlation between SBIT and IQQQ is -0.50, 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	-0.50
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.45

The correlation between SBIT and IQQQ has been stable across timeframes, ranging from -0.50 to -0.45 - a consistent structural relationship.

Return for Risk

SBIT vs. IQQQ — Risk / Return Rank

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

SBIT

SBIT Risk / Return Rank: 41
SBIT Sharpe Ratio Rank: 38
SBIT Sortino Ratio Rank: 41
SBIT Omega Ratio Rank: 39
SBIT Calmar Ratio Rank: 52
SBIT Martin Ratio Rank: 34

IQQQ

IQQQ Risk / Return Rank: 58
IQQQ Sharpe Ratio Rank: 61
IQQQ Sortino Ratio Rank: 54
IQQQ Omega Ratio Rank: 56
IQQQ Calmar Ratio Rank: 62
IQQQ Martin Ratio Rank: 59

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. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.74	-0.53
Sortino ratio: Return per unit of downside risk	1.90	2.28	-0.38
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	2.24	2.66	-0.42
Martin ratio: Return relative to average drawdown	4.68	9.05	-4.37

SBIT vs. IQQQ - Sharpe Ratio Comparison

The current SBIT Sharpe Ratio is 1.21, which is lower than the IQQQ Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of SBIT and IQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SBIT vs. IQQQ - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for SBIT and IQQQ.

Drawdown Indicators

	SBIT	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-20.41%	-70.94%
Max Drawdown (1Y) Largest decline over 1 year	-47.94%	-11.13%	-36.81%
Current Drawdown Current decline from peak	-74.40%	-4.31%	-70.09%
Average Drawdown Average peak-to-trough decline	-68.68%	-3.63%	-65.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.94%	3.27%	+19.67%

Volatility

SBIT vs. IQQQ - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 26.52% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 8.20%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIT	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.52%	8.20%	+18.32%
Volatility (6M) Calculated over the trailing 6-month period	68.63%	13.57%	+55.06%
Volatility (1Y) Calculated over the trailing 1-year period	88.57%	17.00%	+71.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.38%	19.06%	+78.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.38%	19.06%	+78.32%

SBIT vs. IQQQ - Expense Ratio Comparison

SBIT has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

SBIT vs. IQQQ - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 2.91%, less than IQQQ's 4.61% yield.

Position	TTM	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	4.61%	10.34%	7.27%
SBIT Proshares Ultrashort Bitcoin ETF	2.91%	0.52%	1.00%

Frequently Asked Questions

Can I hold both SBIT and IQQQ in my portfolio?

SBIT and IQQQ have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBIT or IQQQ?

SBIT has higher volatility (26.52%) compared to IQQQ (8.20%). In terms of maximum drawdown, SBIT dropped -91.35% vs IQQQ's -20.41%.

Which ETF is better, SBIT or IQQQ?

On 1-year performance, SBIT leads with 106.87% vs 29.47% for IQQQ. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 8.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBIT or IQQQ?

Over the 1-year period, SBIT has performed better with a 106.87% return vs 29.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIT or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for SBIT.

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

IQQQ has the higher dividend yield at 4.61%, compared with 2.91% for SBIT.

What is the main difference between SBIT and IQQQ?

SBIT is categorized as Cryptocurrency, while IQQQ is Nasdaq-100. SBIT tracks Bloomberg Bitcoin Index (-200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for SBIT and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.74 vs 1.21), 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.