SLVP vs. BITI
SLVP (iShares MSCI Global Silver and Metals Miners ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, SLVP returned 43.71%/yr vs -30.65%/yr for BITI. At a correlation of -0.22, they often move in opposite directions. SLVP charges 0.39%/yr vs 1.03%/yr for BITI.
Performance
SLVP vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, SLVP achieves a -12.53% return, which is significantly lower than BITI's 28.75% return.
SLVP
- 1D
- -3.43%
- 1M
- -7.56%
- 6M
- -24.45%
- YTD
- -12.53%
- 1Y
- 63.16%
- 3Y*
- 43.71%
- 5Y*
- 15.93%
- 10Y*
- 8.74%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
SLVP vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SLVP iShares MSCI Global Silver and Metals Miners ETF | -12.53% | 202.84% | 14.47% | -2.31% | -2.33% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between SLVP and BITI is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.22 |
The correlation between SLVP and BITI shifts across timeframes, from -0.31 (1 year) to -0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SLVP vs. BITI — Risk / Return Rank
SLVP
BITI
SLVP vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Silver and Metals Miners ETF (SLVP) 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.
| SLVP | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.72 | -1.05 |
| Martin ratioReturn relative to average drawdown | 3.74 | 6.78 | -3.04 |
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Drawdowns
SLVP vs. BITI - Drawdown Comparison
The maximum SLVP drawdown since its inception was -80.47%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SLVP and BITI.
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Drawdown Indicators
| SLVP | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.47% | -92.16% | +11.69% |
Max Drawdown (1Y)Largest decline over 1 year | -38.06% | -25.28% | -12.78% |
Max Drawdown (3Y)Largest decline over 3 years | -38.06% | -84.63% | +46.57% |
Max Drawdown (5Y)Largest decline over 5 years | -47.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | — | — |
Current DrawdownCurrent decline from peak | -36.90% | -85.94% | +49.04% |
Average DrawdownAverage peak-to-trough decline | -46.71% | -68.34% | +21.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.96% | 10.11% | +6.85% |
Volatility
SLVP vs. BITI - Volatility Comparison
iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 16.58% compared to ProShares Short Bitcoin ETF (BITI) at 11.38%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier 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
| SLVP | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.58% | 11.38% | +5.20% |
Volatility (6M)Calculated over the trailing 6-month period | 45.62% | 34.25% | +11.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.80% | 44.14% | +11.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.48% | 52.28% | -8.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.50% | 52.28% | -9.78% |
SLVP vs. BITI - Expense Ratio Comparison
SLVP has a 0.39% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
SLVP vs. BITI - Dividend Comparison
SLVP's dividend yield for the trailing twelve months is around 2.36%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | 2.36% | 1.78% | 1.05% | 0.88% | 0.63% | 1.63% | 2.39% | 2.03% | 1.28% | 0.85% | 2.32% | 0.72% |
Frequently Asked Questions
SLVP and BITI have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLVP has higher volatility (16.58%) compared to BITI (11.38%). In terms of maximum drawdown, SLVP dropped -80.47% vs BITI's -92.16%.
On 3-year performance, SLVP leads with 43.71% vs -30.65% for BITI. On fees, SLVP is cheaper at 0.39% per year. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SLVP has performed better with a 43.71% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVP is cheaper with a 0.39% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 2.36% for SLVP.
SLVP is categorized as Silver, while BITI is Cryptocurrency. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.39% for SLVP and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.56 vs 1.14), 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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