SNAV vs. BITI

Last updated Jul 14, 2026

SNAV (Mohr Sector Nav ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SNAV is a Large Cap Blend Equities fund actively managed by Mohr Funds, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. SNAV is actively managed, while BITI is passively managed. Over the past 3 years, SNAV returned 13.47%/yr vs -30.65%/yr for BITI. At a correlation of -0.34, they often move in opposite directions. SNAV charges 1.30%/yr vs 1.03%/yr for BITI.

Performance

SNAV vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mohr Sector Nav ETF (SNAV) 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, SNAV achieves a 10.21% return, which is significantly lower than BITI's 28.75% return.

SNAV

• 1D: -0.43%
• 1M: 0.44%
• 6M: 8.27%
• YTD: 10.21%
• 1Y: 18.56%
• 3Y*: 13.47%
• 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)

SNAV vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SNAV Mohr Sector Nav ETF	10.21%	15.54%	11.11%	12.29%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-64.11%

Correlation

The correlation between SNAV 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	-0.34
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023	-0.34

Return for Risk

SNAV vs. BITI — Risk / Return Rank

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

SNAV

SNAV Risk / Return Rank: 64
SNAV Sharpe Ratio Rank: 63
SNAV Sortino Ratio Rank: 59
SNAV Omega Ratio Rank: 62
SNAV Calmar Ratio Rank: 72
SNAV Martin Ratio Rank: 67

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.

SNAV vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mohr Sector Nav ETF (SNAV) 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.

	SNAV	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.56	+0.09
Sortino ratio: Return per unit of downside risk	2.23	2.13	+0.10
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	2.89	2.72	+0.17
Martin ratio: Return relative to average drawdown	9.51	6.78	+2.73

SNAV vs. BITI - Sharpe Ratio Comparison

The current SNAV Sharpe Ratio is 1.65, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of SNAV 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

SNAV vs. BITI - Drawdown Comparison

The maximum SNAV drawdown since its inception was -16.61%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SNAV and BITI.

Drawdown Indicators

	SNAV	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-16.61%	-92.16%	+75.55%
Max Drawdown (1Y) Largest decline over 1 year	-6.45%	-25.28%	+18.83%
Max Drawdown (3Y) Largest decline over 3 years	-16.61%	-84.63%	+68.02%
Current Drawdown Current decline from peak	-1.88%	-85.94%	+84.06%
Average Drawdown Average peak-to-trough decline	-2.50%	-68.34%	+65.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	10.11%	-8.15%

Volatility

SNAV vs. BITI - Volatility Comparison

The current volatility for Mohr Sector Nav ETF (SNAV) is 3.34%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.38%. This indicates that SNAV 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

	SNAV	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	11.38%	-8.04%
Volatility (6M) Calculated over the trailing 6-month period	8.26%	34.25%	-25.99%
Volatility (1Y) Calculated over the trailing 1-year period	11.29%	44.14%	-32.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.66%	52.28%	-38.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.66%	52.28%	-38.62%

SNAV vs. BITI - Expense Ratio Comparison

SNAV has a 1.30% expense ratio, which is higher than BITI's 1.03% expense ratio.

Dividends

SNAV vs. BITI - Dividend Comparison

SNAV 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%
SNAV Mohr Sector Nav ETF	0.00%	0.00%	0.94%	3.29%	0.00%

Frequently Asked Questions

Can I hold both SNAV and BITI in my portfolio?

SNAV 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, SNAV or BITI?

BITI has higher volatility (11.38%) compared to SNAV (3.34%). In terms of maximum drawdown, SNAV dropped -16.61% vs BITI's -92.16%.

Which ETF is better, SNAV or BITI?

On 3-year performance, SNAV leads with 13.47% vs -30.65% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, SNAV has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNAV or BITI?

Over the 3-year period, SNAV has performed better with a 13.47% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNAV or BITI?

BITI is cheaper with a 1.03% expense ratio, compared with 1.30% for SNAV.

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

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

What is the main difference between SNAV and BITI?

SNAV is categorized as Large Cap Blend Equities, while BITI is Cryptocurrency. They also come from different issuers: Mohr Funds and ProShares. Their fees differ too: 1.30% for SNAV and 1.03% for BITI.

Which has better risk-adjusted returns?

SNAV currently has the higher Sharpe Ratio (1.65 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.