SHE vs. BITI
SHE (SPDR SSGA Gender Diversity Index ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SHE is a Large Cap Growth Equities fund tracking the SSGA Gender Diversity (TR), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, SHE returned 20.92%/yr vs -31.77%/yr for BITI. Their -0.37 correlation means they have often moved in opposite directions in the past. SHE charges 0.20%/yr vs 1.03%/yr for BITI.
Performance
SHE vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, SHE achieves a 17.65% return, which is significantly lower than BITI's 27.11% return.
SHE
- 1D
- 0.37%
- 1M
- 0.64%
- 6M
- 14.53%
- YTD
- 17.65%
- 1Y
- 27.23%
- 3Y*
- 20.92%
- 5Y*
- 9.79%
- 10Y*
- 12.27%
- ALL TIME*
- 12.72%
BITI
- 1D
- 3.01%
- 1M
- -2.58%
- 6M
- 22.77%
- YTD
- 27.11%
- 1Y
- 58.64%
- 3Y*
- -31.77%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.10M | $26.49M | $38.71M | |
| $460.23K | $379.38K | $467.51K |
SHE vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SHE SPDR SSGA Gender Diversity Index ETF | 17.65% | 15.50% | 23.35% | 22.37% | 8.01% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between SHE and BITI is -0.46, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.46 |
Correlation (3Y) Balances recent behavior with more history. | -0.35 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.37 |
The correlation between SHE and BITI shifts across timeframes, from -0.46 (1 year) to -0.35 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHE vs. BITI — Risk / Return Rank
SHE
BITI
SHE vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) 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.
| SHE | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.24 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 2.53 | +0.50 |
| Martin ratioReturn relative to average drawdown | 11.21 | 6.17 | +5.03 |
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Drawdowns
SHE vs. BITI - Drawdown Comparison
The maximum SHE drawdown since its inception was -35.80%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SHE and BITI.
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Drawdown Indicators
| SHE | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.80% | -92.16% | +56.36% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -25.28% | +16.74% |
Max Drawdown (3Y)Largest decline over 3 years | -17.07% | -84.63% | +67.56% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.80% | — | — |
Current DrawdownCurrent decline from peak | -2.17% | -86.12% | +83.95% |
Average DrawdownAverage peak-to-trough decline | -6.25% | -68.59% | +62.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 10.35% | -8.04% |
Volatility
SHE vs. BITI - Volatility Comparison
The current volatility for SPDR SSGA Gender Diversity Index ETF (SHE) is 3.55%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that SHE 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.
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Volatility by Period
| SHE | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 9.13% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 11.07% | 33.31% | -22.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 44.23% | -30.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.30% | 52.03% | -34.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 52.03% | -34.01% |
SHE vs. BITI - Expense Ratio Comparison
SHE has a 0.20% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
SHE vs. BITI - Dividend Comparison
SHE's dividend yield for the trailing twelve months is around 1.08%, less than BITI's 15.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHE SPDR SSGA Gender Diversity Index ETF | 1.08% | 1.18% | 1.14% | 1.37% | 1.54% | 0.99% | 1.24% | 1.91% | 7.39% | 5.37% | 6.41% |
Frequently Asked Questions
SHE and BITI have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (9.13%) compared to SHE (3.55%). In terms of maximum drawdown, SHE dropped -35.80% vs BITI's -92.16%.
On 3-year performance, SHE leads with 20.92% vs -31.77% for BITI. On fees, SHE is cheaper at 0.20% per year. On volatility, SHE has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SHE has performed better with a 20.92% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHE is cheaper with a 0.20% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 1.08% for SHE.
SHE is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. SHE tracks SSGA Gender Diversity (TR), while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.20% for SHE and 1.03% for BITI.
SHE currently has the higher Sharpe Ratio (1.90 vs 1.45), 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.
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