SCHM vs. BITI

Last updated Jul 14, 2026

SCHM (Schwab US Mid-Cap ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SCHM is a Mid Cap Blend Equities fund tracking the Dow Jones US Total Stock Market Mid-Cap, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, SCHM returned 15.26%/yr vs -30.65%/yr for BITI. At a correlation of -0.38, they often move in opposite directions. SCHM charges 0.04%/yr vs 1.03%/yr for BITI.

Performance

SCHM vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US Mid-Cap ETF (SCHM) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHM achieves a 18.30% return, which is significantly lower than BITI's 28.75% return.

SCHM

• 1D: -1.20%
• 1M: -1.48%
• 6M: 12.14%
• YTD: 18.30%
• 1Y: 25.42%
• 3Y*: 15.26%
• 5Y*: 8.28%
• 10Y*: 11.02%

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

SCHM vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SCHM Schwab US Mid-Cap ETF	18.30%	10.17%	11.98%	16.69%	8.27%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between SCHM and BITI is -0.42, 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	-0.42
Correlation (3Y) Calculated over the trailing 3-year period	-0.36
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.38

Return for Risk

SCHM vs. BITI — Risk / Return Rank

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

SCHM

SCHM Risk / Return Rank: 62
SCHM Sharpe Ratio Rank: 57
SCHM Sortino Ratio Rank: 59
SCHM Omega Ratio Rank: 54
SCHM Calmar Ratio Rank: 68
SCHM Martin Ratio Rank: 73

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

SCHM vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) and ProShares Short Bitcoin ETF (BITI). 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.

	SCHM	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.56	-0.02
Sortino ratio: Return per unit of downside risk	2.23	2.13	+0.10
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	2.74	2.72	+0.02
Martin ratio: Return relative to average drawdown	10.66	6.78	+3.89

SCHM vs. BITI - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 1.54, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of SCHM and BITI, 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

SCHM vs. BITI - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SCHM and BITI.

Drawdown Indicators

	SCHM	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-42.43%	-92.16%	+49.73%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-25.28%	+15.96%
Max Drawdown (3Y) Largest decline over 3 years	-23.27%	-84.63%	+61.36%
Max Drawdown (5Y) Largest decline over 5 years	-26.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	—	—
Current Drawdown Current decline from peak	-4.04%	-85.94%	+81.90%
Average Drawdown Average peak-to-trough decline	-5.63%	-68.34%	+62.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	10.11%	-7.72%

Volatility

SCHM vs. BITI - Volatility Comparison

The current volatility for Schwab US Mid-Cap ETF (SCHM) is 6.08%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that SCHM experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHM	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.08%	11.38%	-5.30%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	34.25%	-21.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.61%	44.14%	-27.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.70%	52.28%	-32.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.47%	52.28%	-31.81%

SCHM vs. BITI - Expense Ratio Comparison

SCHM has a 0.04% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

SCHM vs. BITI - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.25%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHM Schwab US Mid-Cap ETF	1.25%	1.46%	1.43%	1.50%	1.67%	1.13%	1.31%	1.48%	1.56%	1.27%	1.51%	1.54%

Frequently Asked Questions

Can I hold both SCHM and BITI in my portfolio?

SCHM and BITI have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHM or BITI?

BITI has higher volatility (11.38%) compared to SCHM (6.08%). In terms of maximum drawdown, SCHM dropped -42.43% vs BITI's -92.16%.

Which ETF is better, SCHM or BITI?

On 3-year performance, SCHM leads with 15.26% vs -30.65% for BITI. On fees, SCHM is cheaper at 0.04% per year. On volatility, SCHM has been the lower-risk option at 6.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHM or BITI?

Over the 3-year period, SCHM has performed better with a 15.26% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHM or BITI?

SCHM is cheaper with a 0.04% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, SCHM or BITI?

BITI has the higher dividend yield at 15.10%, compared with 1.25% for SCHM.

What is the main difference between SCHM and BITI?

SCHM is categorized as Mid Cap Blend Equities, while BITI is Cryptocurrency. SCHM tracks Dow Jones US Total Stock Market Mid-Cap, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Charles Schwab and ProShares. Their fees differ too: 0.04% for SCHM and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 1.54), 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.