SBIT vs. XBTY

Last updated Jun 23, 2026

SBIT (Proshares Ultrashort Bitcoin ETF) and XBTY (GraniteShares YieldBOOST Bitcoin ETF) are both exchange-traded funds - SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%), while XBTY is a Derivative Income fund actively managed by GraniteShares. SBIT is passively managed, while XBTY is actively managed. Over the past year, SBIT returned 60.90% vs -38.54% for XBTY. At a correlation of -0.89, they often move in opposite directions. SBIT charges 0.95%/yr vs 0.99%/yr for XBTY.

Performance

SBIT vs. XBTY - Performance Comparison

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

Returns By Period

In the year-to-date period, SBIT achieves a 36.95% return, which is significantly higher than XBTY's -20.64% return.

SBIT

• 1D: -4.88%
• 1M: 32.33%
• YTD: 36.95%
• 6M: 39.87%
• 1Y: 60.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XBTY

• 1D: 1.47%
• 1M: -6.96%
• YTD: -20.64%
• 6M: -18.65%
• 1Y: -38.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SBIT vs. XBTY - Yearly Performance Comparison

	2026 (YTD)	2025
SBIT Proshares Ultrashort Bitcoin ETF	36.95%	11.77%
XBTY GraniteShares YieldBOOST Bitcoin ETF	-20.64%	-21.19%

Correlation

The correlation between SBIT and XBTY is -0.90, 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	-0.90
Correlation (All Time) Calculated using the full available price history since May 13, 2025	-0.89

The correlation between SBIT and XBTY has been stable across timeframes, ranging from -0.90 to -0.89 - a consistent structural relationship.

Return for Risk

SBIT vs. XBTY — Risk / Return Rank

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

SBIT

SBIT Risk / Return Rank: 24
SBIT Sharpe Ratio Rank: 20
SBIT Sortino Ratio Rank: 27
SBIT Omega Ratio Rank: 26
SBIT Calmar Ratio Rank: 27
SBIT Martin Ratio Rank: 22

XBTY

XBTY Risk / Return Rank: 1
XBTY Sharpe Ratio Rank: 0
XBTY Sortino Ratio Rank: 0
XBTY Omega Ratio Rank: 0
XBTY Calmar Ratio Rank: 2
XBTY Martin Ratio Rank: 3

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. XBTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and GraniteShares YieldBOOST Bitcoin ETF (XBTY). 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	XBTY	Difference
Sharpe ratio: Return per unit of total volatility	0.69	-1.40	+2.10
Sortino ratio: Return per unit of downside risk	1.46	-2.05	+3.51
Omega ratio: Gain probability vs. loss probability	1.17	0.76	+0.42
Calmar ratio: Return relative to maximum drawdown	1.28	-0.82	+2.10
Martin ratio: Return relative to average drawdown	2.55	-1.24	+3.79

SBIT vs. XBTY - Sharpe Ratio Comparison

The current SBIT Sharpe Ratio is 0.69, which is higher than the XBTY Sharpe Ratio of -1.40. The chart below compares the historical Sharpe Ratios of SBIT and XBTY, 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. XBTY - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, which is greater than XBTY's maximum drawdown of -47.01%. Use the drawdown chart below to compare losses from any high point for SBIT and XBTY.

Drawdown Indicators

	SBIT	XBTY	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-47.01%	-44.34%
Max Drawdown (1Y) Largest decline over 1 year	-47.94%	-47.01%	-0.93%
Current Drawdown Current decline from peak	-78.27%	-46.23%	-32.04%
Average Drawdown Average peak-to-trough decline	-68.64%	-23.97%	-44.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.92%	31.18%	-7.26%

Volatility

SBIT vs. XBTY - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 25.73% compared to GraniteShares YieldBOOST Bitcoin ETF (XBTY) at 4.96%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than XBTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIT	XBTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.73%	4.96%	+20.77%
Volatility (6M) Calculated over the trailing 6-month period	68.55%	15.68%	+52.87%
Volatility (1Y) Calculated over the trailing 1-year period	88.33%	27.64%	+60.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.37%	27.44%	+69.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.37%	27.44%	+69.93%

SBIT vs. XBTY - Expense Ratio Comparison

SBIT has a 0.95% expense ratio, which is lower than XBTY's 0.99% expense ratio.

Dividends

SBIT vs. XBTY - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 3.43%, less than XBTY's 223.65% yield.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	3.43%	0.52%	1.00%
XBTY GraniteShares YieldBOOST Bitcoin ETF	223.65%	102.53%	0.00%

Frequently Asked Questions

Can I hold both SBIT and XBTY in my portfolio?

SBIT and XBTY have a correlation of -0.90, 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 XBTY?

SBIT has higher volatility (25.73%) compared to XBTY (4.96%). In terms of maximum drawdown, SBIT dropped -91.35% vs XBTY's -47.01%.

Which ETF is better, SBIT or XBTY?

On 1-year performance, SBIT leads with 60.90% vs -38.54% for XBTY. On fees, SBIT is cheaper at 0.95% per year. On volatility, XBTY has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBIT or XBTY?

Over the 1-year period, SBIT has performed better with a 60.90% return vs -38.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIT or XBTY?

SBIT is cheaper with a 0.95% expense ratio, compared with 0.99% for XBTY.

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

XBTY has the higher dividend yield at 223.65%, compared with 3.43% for SBIT.

What is the main difference between SBIT and XBTY?

SBIT is categorized as Cryptocurrency, while XBTY is Derivative Income. They also come from different issuers: ProShares and GraniteShares. Their fees differ too: 0.95% for SBIT and 0.99% for XBTY.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (0.69 vs -1.40), 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.