SCUS vs. BITO

Last updated Jun 4, 2026

SCUS (Schwab Ultra-Short Income ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - SCUS is a Ultrashort Bond fund actively managed by Charles Schwab, while BITO is a Cryptocurrency fund actively managed by ProShares. Both are actively managed. Over the past year, SCUS returned 4.17% vs -41.01% for BITO. At a correlation of -0.07, they often move in opposite directions. SCUS charges 0.14%/yr vs 0.95%/yr for BITO.

Performance

SCUS vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Ultra-Short Income ETF (SCUS) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCUS achieves a 1.43% return, which is significantly higher than BITO's -26.37% return.

SCUS

• 1D: -0.02%
• 1M: 0.37%
• YTD: 1.43%
• 6M: 1.78%
• 1Y: 4.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITO

• 1D: -2.94%
• 1M: -18.61%
• YTD: -26.37%
• 6M: -30.81%
• 1Y: -41.01%
• 3Y*: 25.27%
• 5Y*: —
• 10Y*: —

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

SCUS vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCUS Schwab Ultra-Short Income ETF	1.43%	4.51%	2.06%
BITO ProShares Bitcoin Strategy ETF	-26.37%	-11.19%	49.29%

Correlation

The correlation between SCUS and BITO is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Aug 14, 2024	-0.07

SCUS vs. BITO - Sectors Allocation Comparison

Sectors	SCUS	BITO
Financial Services	26.9%	68.5%
Technology	6.1%	-
Real Estate	3.7%	-
Healthcare	3.0%	-
Industrials	2.3%	-
Energy	1.9%	-
Communication Services	1.5%	-
Utilities	1.1%	-
Consumer Defensive	0.9%	-
Consumer Cyclical	0.5%	-
Basic Materials	-	-

Return for Risk

SCUS vs. BITO — Risk / Return Rank

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

SCUS

SCUS Risk / Return Rank: 99
SCUS Sharpe Ratio Rank: 98
SCUS Sortino Ratio Rank: 99
SCUS Omega Ratio Rank: 99
SCUS Calmar Ratio Rank: 99
SCUS Martin Ratio Rank: 99

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
BITO Sortino Ratio Rank: 2
BITO Omega Ratio Rank: 2
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 2

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.

SCUS vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Ultra-Short Income ETF (SCUS) and ProShares Bitcoin Strategy ETF (BITO). 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.

	SCUS	BITO	Difference
Sharpe ratio: Return per unit of total volatility	6.28	-0.95	+7.22
Sortino ratio: Return per unit of downside risk	12.57	-1.35	+13.92
Omega ratio: Gain probability vs. loss probability	2.76	0.85	+1.91
Calmar ratio: Return relative to maximum drawdown	25.13	-0.82	+25.95
Martin ratio: Return relative to average drawdown	111.55	-1.41	+112.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCUS vs. BITO - Sharpe Ratio Comparison

The current SCUS Sharpe Ratio is 6.28, which is higher than the BITO Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of SCUS and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCUS	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.28	-0.95	+7.22
Sharpe Ratio (All Time) Calculated using the full available price history	6.42	-0.09	+6.51

Drawdowns

SCUS vs. BITO - Drawdown Comparison

The maximum SCUS drawdown since its inception was -0.17%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for SCUS and BITO.

Drawdown Indicators

	SCUS	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-0.17%	-77.86%	+77.69%
Max Drawdown (1Y) Largest decline over 1 year	-0.17%	-50.05%	+49.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-50.05%	—
Current Drawdown Current decline from peak	-0.02%	-49.22%	+49.20%
Average Drawdown Average peak-to-trough decline	-0.02%	-36.73%	+36.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	29.09%	-29.05%

Volatility

SCUS vs. BITO - Volatility Comparison

The current volatility for Schwab Ultra-Short Income ETF (SCUS) is 0.20%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 9.43%. This indicates that SCUS experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCUS	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.20%	9.43%	-9.23%
Volatility (6M) Calculated over the trailing 6-month period	0.47%	34.26%	-33.79%
Volatility (1Y) Calculated over the trailing 1-year period	0.67%	43.57%	-42.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.70%	55.11%	-54.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.70%	55.11%	-54.41%

SCUS vs. BITO - Expense Ratio Comparison

SCUS has a 0.14% expense ratio, which is lower than BITO's 0.95% expense ratio.

Dividends

SCUS vs. BITO - Dividend Comparison

SCUS's dividend yield for the trailing twelve months is around 3.91%, less than BITO's 67.63% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	67.63%	78.29%	61.59%	15.14%
SCUS Schwab Ultra-Short Income ETF	3.91%	4.17%	1.62%	0.00%

Frequently Asked Questions

Can I hold both SCUS and BITO in my portfolio?

SCUS and BITO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCUS or BITO?

BITO has higher volatility (9.43%) compared to SCUS (0.20%). In terms of maximum drawdown, SCUS dropped -0.17% vs BITO's -77.86%.

Which ETF is better, SCUS or BITO?

On 1-year performance, SCUS leads with 4.17% vs -41.01% for BITO. On fees, SCUS is cheaper at 0.14% per year. On volatility, SCUS has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCUS or BITO?

Over the 1-year period, SCUS has performed better with a 4.17% return vs -41.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCUS or BITO?

SCUS is cheaper with a 0.14% expense ratio, compared with 0.95% for BITO.

Which ETF pays a higher dividend yield, SCUS or BITO?

BITO has the higher dividend yield at 67.63%, compared with 3.91% for SCUS.

What is the main difference between SCUS and BITO?

SCUS is categorized as Ultrashort Bond, while BITO is Cryptocurrency. They also come from different issuers: Charles Schwab and ProShares. Their fees differ too: 0.14% for SCUS and 0.95% for BITO.

Which has better risk-adjusted returns?

SCUS currently has the higher Sharpe Ratio (6.28 vs -0.94), 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.