SDTY vs. BITI

Last updated Jul 14, 2026

SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SDTY is a Derivative Income fund actively managed by YieldMax, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. SDTY is actively managed, while BITI is passively managed. Over the past year, SDTY returned 18.77% vs 68.34% for BITI. At a correlation of -0.46, they often move in opposite directions. SDTY charges 1.01%/yr vs 1.03%/yr for BITI.

Performance

SDTY vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) 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, SDTY achieves a 8.35% return, which is significantly lower than BITI's 28.75% return.

SDTY

• 1D: -0.70%
• 1M: 2.09%
• 6M: 6.65%
• YTD: 8.35%
• 1Y: 18.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

SDTY vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	8.35%	9.67%
BITI ProShares Short Bitcoin ETF	28.75%	2.89%

Correlation

The correlation between SDTY and BITI is -0.47, 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	-0.47
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	-0.46

Return for Risk

SDTY vs. BITI — Risk / Return Rank

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

SDTY

SDTY Risk / Return Rank: 62
SDTY Sharpe Ratio Rank: 61
SDTY Sortino Ratio Rank: 60
SDTY Omega Ratio Rank: 62
SDTY Calmar Ratio Rank: 59
SDTY Martin Ratio Rank: 66

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.

SDTY vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) 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.

	SDTY	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.56	+0.06
Sortino ratio: Return per unit of downside risk	2.24	2.13	+0.12
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	2.35	2.72	-0.37
Martin ratio: Return relative to average drawdown	9.42	6.78	+2.64

SDTY vs. BITI - Sharpe Ratio Comparison

The current SDTY Sharpe Ratio is 1.62, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of SDTY 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

SDTY vs. BITI - Drawdown Comparison

The maximum SDTY drawdown since its inception was -18.63%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SDTY and BITI.

Drawdown Indicators

	SDTY	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-92.16%	+73.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-25.28%	+17.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-0.72%	-85.94%	+85.22%
Average Drawdown Average peak-to-trough decline	-2.92%	-68.34%	+65.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	10.11%	-8.11%

Volatility

SDTY vs. BITI - Volatility Comparison

The current volatility for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) is 3.71%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that SDTY 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

	SDTY	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	11.38%	-7.67%
Volatility (6M) Calculated over the trailing 6-month period	9.21%	34.25%	-25.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	44.14%	-32.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	52.28%	-35.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	52.28%	-35.68%

SDTY vs. BITI - Expense Ratio Comparison

SDTY has a 1.01% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

SDTY vs. BITI - Dividend Comparison

SDTY's dividend yield for the trailing twelve months is around 26.56%, more than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	26.56%	22.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SDTY and BITI in my portfolio?

SDTY and BITI have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDTY or BITI?

BITI has higher volatility (11.38%) compared to SDTY (3.71%). In terms of maximum drawdown, SDTY dropped -18.63% vs BITI's -92.16%.

Which ETF is better, SDTY or BITI?

On 1-year performance, BITI leads with 68.34% vs 18.77% for SDTY. On fees, SDTY is cheaper at 1.01% per year. On volatility, SDTY has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDTY or BITI?

Over the 1-year period, BITI has performed better with a 68.34% return vs 18.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDTY or BITI?

SDTY is cheaper with a 1.01% expense ratio, compared with 1.03% for BITI.

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

SDTY has the higher dividend yield at 26.56%, compared with 15.10% for BITI.

What is the main difference between SDTY and BITI?

SDTY is categorized as Derivative Income, while BITI is Cryptocurrency. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 1.01% for SDTY and 1.03% for BITI.

Which has better risk-adjusted returns?

SDTY currently has the higher Sharpe Ratio (1.62 vs 1.56), 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.