SIJ vs. BITO
SIJ (ProShares UltraShort Industrials) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - SIJ is a Leveraged Equities fund tracking the DJ Global United States (All) / Industrials -IND (-200%), while BITO is a Cryptocurrency fund actively managed by ProShares. SIJ is passively managed, while BITO is actively managed. Over the past 3 years, SIJ returned -29.54%/yr vs 25.27%/yr for BITO. At a correlation of -0.35, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SIJ vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -21.28% return, which is significantly higher than BITO's -26.37% return.
SIJ
- 1D
- -0.08%
- 1M
- -3.55%
- YTD
- -21.28%
- 6M
- -22.55%
- 1Y
- -31.23%
- 3Y*
- -29.54%
- 5Y*
- -18.51%
- 10Y*
- -27.77%
BITO
- 1D
- -2.94%
- 1M
- -18.61%
- YTD
- -26.37%
- 6M
- -30.81%
- 1Y
- -41.01%
- 3Y*
- 25.27%
- 5Y*
- —
- 10Y*
- —
SIJ vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -21.28% | -29.33% | -21.63% | -24.18% | 18.15% | -3.76% |
BITO ProShares Bitcoin Strategy ETF | -26.37% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Correlation
The correlation between SIJ and BITO is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021 | -0.35 |
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Return for Risk
SIJ vs. BITO — Risk / Return Rank
SIJ
BITO
SIJ vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.
| SIJ | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.85 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.82 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.50 | -1.41 | -0.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SIJ | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | -0.95 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.52 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | -0.09 | -0.53 |
Drawdowns
SIJ vs. BITO - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for SIJ and BITO.
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Drawdown Indicators
| SIJ | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -77.86% | -22.07% |
Max Drawdown (1Y)Largest decline over 1 year | -35.40% | -50.05% | +14.65% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -50.05% | -19.79% |
Max Drawdown (5Y)Largest decline over 5 years | -76.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -96.54% | — | — |
Current DrawdownCurrent decline from peak | -99.92% | -49.22% | -50.70% |
Average DrawdownAverage peak-to-trough decline | -86.74% | -36.73% | -50.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.81% | 29.09% | -8.28% |
Volatility
SIJ vs. BITO - Volatility Comparison
ProShares UltraShort Industrials (SIJ) has a higher volatility of 10.18% compared to ProShares Bitcoin Strategy ETF (BITO) at 9.43%. This indicates that SIJ's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIJ | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 9.43% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 26.39% | 34.26% | -7.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.52% | 43.57% | -12.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 55.11% | -19.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.62% | 55.11% | -15.49% |
SIJ vs. BITO - Expense Ratio Comparison
Both SIJ and BITO have an expense ratio of 0.95%.
Dividends
SIJ vs. BITO - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 5.75%, less than BITO's 67.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 67.63% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SIJ ProShares UltraShort Industrials | 5.75% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% |
Frequently Asked Questions
SIJ and BITO have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIJ has higher volatility (10.18%) compared to BITO (9.43%). In terms of maximum drawdown, SIJ dropped -99.93% vs BITO's -77.86%.
On 3-year performance, BITO leads with 25.27% vs -29.54% for SIJ. Both ETFs have the same 0.95% expense ratio. On volatility, BITO has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 25.27% return vs -29.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIJ and BITO have the same expense ratio: 0.95% per year.
BITO has the higher dividend yield at 67.63%, compared with 5.75% for SIJ.
SIJ is categorized as Leveraged Equities, while BITO is Cryptocurrency.
BITO currently has the higher Sharpe Ratio (-0.94 vs -1.00), 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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