SIXZ vs. BITI

Last updated Jul 14, 2026

SIXZ (AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SIXZ is a Defined Outcome fund actively managed by Allianz, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. SIXZ is actively managed, while BITI is passively managed. Over the past year, SIXZ returned 10.87% vs 68.34% for BITI. At a correlation of -0.37, they often move in opposite directions. SIXZ charges 0.74%/yr vs 1.03%/yr for BITI.

Performance

SIXZ vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF (SIXZ) 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, SIXZ achieves a 6.92% return, which is significantly lower than BITI's 28.75% return.

SIXZ

• 1D: -0.19%
• 1M: 1.15%
• 6M: 5.81%
• YTD: 6.92%
• 1Y: 10.87%
• 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)

SIXZ vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIXZ AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF	6.92%	7.24%	10.31%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-44.17%

Correlation

The correlation between SIXZ and BITI is -0.39, 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	-0.39
Correlation (All Time) Calculated using the full available price history since May 1, 2024	-0.37

Return for Risk

SIXZ vs. BITI — Risk / Return Rank

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

SIXZ

SIXZ Risk / Return Rank: 69
SIXZ Sharpe Ratio Rank: 67
SIXZ Sortino Ratio Rank: 70
SIXZ Omega Ratio Rank: 74
SIXZ Calmar Ratio Rank: 62
SIXZ Martin Ratio Rank: 74

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.

SIXZ vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF (SIXZ) 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.

	SIXZ	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.56	+0.17
Sortino ratio: Return per unit of downside risk	2.54	2.13	+0.41
Omega ratio: Gain probability vs. loss probability	1.35	1.26	+0.09
Calmar ratio: Return relative to maximum drawdown	2.45	2.72	-0.26
Martin ratio: Return relative to average drawdown	10.74	6.78	+3.96

SIXZ vs. BITI - Sharpe Ratio Comparison

The current SIXZ Sharpe Ratio is 1.73, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of SIXZ 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

SIXZ vs. BITI - Drawdown Comparison

The maximum SIXZ drawdown since its inception was -10.27%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SIXZ and BITI.

Drawdown Indicators

	SIXZ	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-92.16%	+81.89%
Max Drawdown (1Y) Largest decline over 1 year	-4.45%	-25.28%	+20.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-0.19%	-85.94%	+85.75%
Average Drawdown Average peak-to-trough decline	-0.90%	-68.34%	+67.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	10.11%	-9.09%

Volatility

SIXZ vs. BITI - Volatility Comparison

The current volatility for AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF (SIXZ) is 1.87%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that SIXZ 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

	SIXZ	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	11.38%	-9.51%
Volatility (6M) Calculated over the trailing 6-month period	5.38%	34.25%	-28.87%
Volatility (1Y) Calculated over the trailing 1-year period	6.32%	44.14%	-37.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.74%	52.28%	-44.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.74%	52.28%	-44.54%

SIXZ vs. BITI - Expense Ratio Comparison

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

Dividends

SIXZ vs. BITI - Dividend Comparison

SIXZ has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.10%.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%
SIXZ AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXZ and BITI in my portfolio?

SIXZ and BITI have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXZ or BITI?

BITI has higher volatility (11.38%) compared to SIXZ (1.87%). In terms of maximum drawdown, SIXZ dropped -10.27% vs BITI's -92.16%.

Which ETF is better, SIXZ or BITI?

On 1-year performance, BITI leads with 68.34% vs 10.87% for SIXZ. On fees, SIXZ is cheaper at 0.74% per year. On volatility, SIXZ has been the lower-risk option at 1.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXZ or BITI?

Over the 1-year period, BITI has performed better with a 68.34% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXZ or BITI?

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

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

BITI has the higher dividend yield at 15.10%, compared with 0.00% for SIXZ.

What is the main difference between SIXZ and BITI?

SIXZ is categorized as Defined Outcome, while BITI is Cryptocurrency. They also come from different issuers: Allianz and ProShares. Their fees differ too: 0.74% for SIXZ and 1.03% for BITI.

Which has better risk-adjusted returns?

SIXZ currently has the higher Sharpe Ratio (1.73 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.