SIXO vs. BITI

Last updated Jul 17, 2026

SIXO (AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SIXO is a Options Trading fund tracking the S&P 500, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, SIXO returned 9.01%/yr vs -31.62%/yr for BITI. At a correlation of -0.37, they often move in opposite directions. SIXO charges 0.74%/yr vs 1.03%/yr for BITI.

Performance

SIXO vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (SIXO) 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, SIXO achieves a 3.71% return, which is significantly lower than BITI's 24.48% return.

SIXO

• 1D: -0.07%
• 1M: 0.70%
• 6M: 2.90%
• YTD: 3.71%
• 1Y: 8.36%
• 3Y*: 9.01%
• 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)

SIXO vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SIXO AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF	3.71%	7.19%	12.22%	17.44%	4.61%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between SIXO and BITI is -0.44, 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	-0.44
Correlation (3Y) Calculated over the trailing 3-year period	-0.35
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.37

Return for Risk

SIXO vs. BITI — Risk / Return Rank

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

SIXO

SIXO Risk / Return Rank: 59
SIXO Sharpe Ratio Rank: 60
SIXO Sortino Ratio Rank: 58
SIXO Omega Ratio Rank: 70
SIXO Calmar Ratio Rank: 50
SIXO Martin Ratio Rank: 56

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.

SIXO vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (SIXO) 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.

	SIXO	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.47	+0.14
Sortino ratio: Return per unit of downside risk	2.24	2.04	+0.20
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	2.03	2.57	-0.54
Martin ratio: Return relative to average drawdown	7.70	6.38	+1.32

SIXO vs. BITI - Sharpe Ratio Comparison

The current SIXO Sharpe Ratio is 1.61, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of SIXO 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

SIXO vs. BITI - Drawdown Comparison

The maximum SIXO drawdown since its inception was -12.04%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SIXO and BITI.

Drawdown Indicators

	SIXO	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-12.04%	-92.16%	+80.12%
Max Drawdown (1Y) Largest decline over 1 year	-4.13%	-25.28%	+21.15%
Max Drawdown (3Y) Largest decline over 3 years	-11.95%	-84.63%	+72.68%
Current Drawdown Current decline from peak	-0.07%	-86.41%	+86.34%
Average Drawdown Average peak-to-trough decline	-1.97%	-68.40%	+66.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	10.16%	-9.07%

Volatility

SIXO vs. BITI - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (SIXO) is 0.90%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that SIXO 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

	SIXO	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	10.76%	-9.86%
Volatility (6M) Calculated over the trailing 6-month period	4.02%	34.28%	-30.26%
Volatility (1Y) Calculated over the trailing 1-year period	5.21%	44.15%	-38.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.98%	52.24%	-43.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.98%	52.24%	-43.26%

SIXO vs. BITI - Expense Ratio Comparison

SIXO has a 0.74% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

SIXO vs. BITI - Dividend Comparison

SIXO has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.62%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%
SIXO AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXO and BITI in my portfolio?

SIXO and BITI have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXO or BITI?

BITI has higher volatility (10.76%) compared to SIXO (0.90%). In terms of maximum drawdown, SIXO dropped -12.04% vs BITI's -92.16%.

Which ETF is better, SIXO or BITI?

On 3-year performance, SIXO leads with 9.01% vs -31.62% for BITI. On fees, SIXO is cheaper at 0.74% per year. On volatility, SIXO has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXO or BITI?

Over the 3-year period, SIXO has performed better with a 9.01% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXO or BITI?

SIXO is cheaper with a 0.74% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 0.00% for SIXO.

What is the main difference between SIXO and BITI?

SIXO is categorized as Options Trading, while BITI is Cryptocurrency. SIXO tracks S&P 500, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Allianz and ProShares. Their fees differ too: 0.74% for SIXO and 1.03% for BITI.

Which has better risk-adjusted returns?

SIXO currently has the higher Sharpe Ratio (1.61 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.