SMCI vs. BITO
SMCI (Super Micro Computer, Inc.) is a stock, while BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares. Over the past 3 years, SMCI returned 10.16%/yr vs 27.40%/yr for BITO. At a 0.28 correlation, their price movements are largely independent.
Performance
SMCI vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, SMCI achieves a 5.40% return, which is significantly higher than BITO's -25.13% return.
SMCI
- 1D
- 1.28%
- 1M
- -0.61%
- YTD
- 5.40%
- 6M
- -1.66%
- 1Y
- -25.77%
- 3Y*
- 10.16%
- 5Y*
- 53.88%
- 10Y*
- 28.01%
BITO
- 1D
- 4.62%
- 1M
- -16.16%
- YTD
- -25.13%
- 6M
- -23.76%
- 1Y
- -39.30%
- 3Y*
- 27.40%
- 5Y*
- —
- 10Y*
- —
SMCI vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SMCI Super Micro Computer, Inc. | 5.40% | -3.97% | 7.23% | 246.24% | 86.80% | 25.68% |
BITO ProShares Bitcoin Strategy ETF | -25.13% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between SMCI and BITO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.28 |
The correlation between SMCI and BITO shifts across timeframes, from 0.27 (3 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SMCI vs. BITO — Risk / Return Rank
SMCI
BITO
SMCI vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Super Micro Computer, Inc. (SMCI) 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.
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.
| SMCI | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.86 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.74 | +0.35 |
| Martin ratioReturn relative to average drawdown | -0.65 | -1.29 | +0.64 |
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Drawdowns
SMCI vs. BITO - Drawdown Comparison
The maximum SMCI drawdown since its inception was -84.84%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for SMCI and BITO.
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Drawdown Indicators
| SMCI | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.84% | -77.86% | -6.98% |
Max Drawdown (1Y)Largest decline over 1 year | -66.18% | -53.10% | -13.08% |
Max Drawdown (3Y)Largest decline over 3 years | -84.84% | -53.10% | -31.74% |
Max Drawdown (5Y)Largest decline over 5 years | -84.84% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -84.84% | — | — |
Current DrawdownCurrent decline from peak | -74.03% | -48.36% | -25.67% |
Average DrawdownAverage peak-to-trough decline | -31.99% | -36.80% | +4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.46% | 30.47% | +8.99% |
Volatility
SMCI vs. BITO - Volatility Comparison
Super Micro Computer, Inc. (SMCI) has a higher volatility of 44.21% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.59%. This indicates that SMCI'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
| SMCI | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 44.21% | 12.59% | +31.62% |
Volatility (6M)Calculated over the trailing 6-month period | 76.29% | 34.54% | +41.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.27% | 44.17% | +41.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.57% | 55.08% | +31.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.20% | 55.08% | +16.12% |
Dividends
SMCI vs. BITO - Dividend Comparison
SMCI has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 66.51%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 66.51% | 78.29% | 61.59% | 15.14% |
SMCI Super Micro Computer, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMCI and BITO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCI has higher volatility (44.21%) compared to BITO (12.59%). In terms of maximum drawdown, SMCI dropped -84.84% vs BITO's -77.86%.
SMCI currently has the higher Sharpe Ratio (-0.30 vs -0.89), 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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