SEA vs. BITI

Last updated Jul 17, 2026

SEA (U.S. Global Sea to Sky Cargo ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SEA is a Industrials Equities fund tracking the U.S. Global Sea to Sky Cargo Index - Benchmark TR Gross, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, SEA returned 17.13%/yr vs -31.62%/yr for BITI. At a correlation of -0.23, they often move in opposite directions. SEA charges 0.60%/yr vs 1.03%/yr for BITI.

Performance

SEA vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Sea to Sky Cargo ETF (SEA) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SEA having a 24.79% return and BITI slightly lower at 24.48%.

SEA

• 1D: -0.36%
• 1M: 3.02%
• 6M: 18.25%
• YTD: 24.79%
• 1Y: 33.01%
• 3Y*: 17.13%
• 5Y*: —
• 10Y*: —

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

SEA vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SEA U.S. Global Sea to Sky Cargo ETF	24.79%	16.78%	2.52%	19.33%	-10.63%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between SEA and BITI is -0.24, 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	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.23

Return for Risk

SEA vs. BITI — Risk / Return Rank

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

SEA

SEA Risk / Return Rank: 76
SEA Sharpe Ratio Rank: 77
SEA Sortino Ratio Rank: 77
SEA Omega Ratio Rank: 71
SEA Calmar Ratio Rank: 76
SEA Martin Ratio Rank: 77

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
BITI Calmar Ratio Rank: 64
BITI Martin Ratio Rank: 48

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.

SEA vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Sea to Sky Cargo ETF (SEA) 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.

	SEA	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.47	+0.47
Sortino ratio: Return per unit of downside risk	2.77	2.04	+0.73
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	3.11	2.57	+0.54
Martin ratio: Return relative to average drawdown	11.32	6.38	+4.94

SEA vs. BITI - Sharpe Ratio Comparison

The current SEA Sharpe Ratio is 1.94, which is higher than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of SEA 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

SEA vs. BITI - Drawdown Comparison

The maximum SEA drawdown since its inception was -39.53%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SEA and BITI.

Drawdown Indicators

	SEA	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-39.53%	-92.16%	+52.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.67%	-25.28%	+14.61%
Max Drawdown (3Y) Largest decline over 3 years	-32.42%	-84.63%	+52.21%
Current Drawdown Current decline from peak	-0.36%	-86.41%	+86.05%
Average Drawdown Average peak-to-trough decline	-14.03%	-68.40%	+54.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	10.16%	-7.24%

Volatility

SEA vs. BITI - Volatility Comparison

The current volatility for U.S. Global Sea to Sky Cargo ETF (SEA) is 6.25%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that SEA 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

	SEA	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	10.76%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	34.28%	-21.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.09%	44.15%	-27.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	52.24%	-30.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.62%	52.24%	-30.62%

SEA vs. BITI - Expense Ratio Comparison

SEA has a 0.60% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

SEA vs. BITI - Dividend Comparison

SEA's dividend yield for the trailing twelve months is around 5.41%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%
SEA U.S. Global Sea to Sky Cargo ETF	5.41%	6.76%	18.47%	9.85%	18.73%

Frequently Asked Questions

Can I hold both SEA and BITI in my portfolio?

SEA and BITI have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEA or BITI?

BITI has higher volatility (10.76%) compared to SEA (6.25%). In terms of maximum drawdown, SEA dropped -39.53% vs BITI's -92.16%.

Which ETF is better, SEA or BITI?

On 3-year performance, SEA leads with 17.13% vs -31.62% for BITI. On fees, SEA is cheaper at 0.60% per year. On volatility, SEA has been the lower-risk option at 6.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEA or BITI?

Over the 3-year period, SEA has performed better with a 17.13% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEA or BITI?

SEA is cheaper with a 0.60% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 5.41% for SEA.

What is the main difference between SEA and BITI?

SEA is categorized as Industrials Equities, while BITI is Cryptocurrency. SEA tracks U.S. Global Sea to Sky Cargo Index - Benchmark TR Gross, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: US Global and ProShares. Their fees differ too: 0.60% for SEA and 1.03% for BITI.

Which has better risk-adjusted returns?

SEA currently has the higher Sharpe Ratio (1.94 vs 1.47), 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.