SOLT vs. BITI

Last updated Jul 15, 2026

SOLT (2x Solana ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SOLT is a Blockchain fund actively managed by Volatility Shares, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. SOLT is actively managed, while BITI is passively managed. Over the past year, SOLT returned -89.81% vs 64.31% for BITI. At a correlation of -0.87, they often move in opposite directions. SOLT charges 1.85%/yr vs 1.03%/yr for BITI.

Performance

SOLT vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 2x Solana ETF (SOLT) 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, SOLT achieves a -72.29% return, which is significantly lower than BITI's 23.84% return.

SOLT

• 1D: 5.47%
• 1M: 27.80%
• 6M: -79.23%
• YTD: -72.29%
• 1Y: -89.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: -3.81%
• 1M: -2.41%
• 6M: 34.02%
• YTD: 23.84%
• 1Y: 64.31%
• 3Y*: -31.54%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SOLT vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
SOLT 2x Solana ETF	-72.29%	-55.52%
BITI ProShares Short Bitcoin ETF	23.84%	-7.39%

Correlation

The correlation between SOLT and BITI is -0.88, 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	-0.88
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025	-0.87

The correlation between SOLT and BITI has been stable across timeframes, ranging from -0.88 to -0.87 - a consistent structural relationship.

Return for Risk

SOLT vs. BITI — Risk / Return Rank

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

SOLT

SOLT Risk / Return Rank: 3
SOLT Sharpe Ratio Rank: 4
SOLT Sortino Ratio Rank: 3
SOLT Omega Ratio Rank: 3
SOLT Calmar Ratio Rank: 1
SOLT Martin Ratio Rank: 3

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
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.

SOLT vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 2x Solana ETF (SOLT) 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.

	SOLT	BITI	Difference
Sharpe ratio: Return per unit of total volatility	-0.61	1.46	-2.07
Sortino ratio: Return per unit of downside risk	-1.11	2.03	-3.14
Omega ratio: Gain probability vs. loss probability	0.88	1.24	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.93	2.56	-3.49
Martin ratio: Return relative to average drawdown	-1.21	6.37	-7.58

SOLT vs. BITI - Sharpe Ratio Comparison

The current SOLT Sharpe Ratio is -0.61, which is lower than the BITI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of SOLT 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

SOLT vs. BITI - Drawdown Comparison

The maximum SOLT drawdown since its inception was -96.28%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SOLT and BITI.

Drawdown Indicators

	SOLT	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-96.28%	-92.16%	-4.12%
Max Drawdown (1Y) Largest decline over 1 year	-96.28%	-25.28%	-71.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-94.76%	-86.48%	-8.28%
Average Drawdown Average peak-to-trough decline	-56.62%	-68.36%	+11.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	74.21%	10.13%	+64.08%

Volatility

SOLT vs. BITI - Volatility Comparison

2x Solana ETF (SOLT) has a higher volatility of 42.51% compared to ProShares Short Bitcoin ETF (BITI) at 11.73%. This indicates that SOLT'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.

Volatility by Period

	SOLT	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	42.51%	11.73%	+30.78%
Volatility (6M) Calculated over the trailing 6-month period	106.55%	34.49%	+72.06%
Volatility (1Y) Calculated over the trailing 1-year period	148.14%	44.24%	+103.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	151.21%	52.29%	+98.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	151.21%	52.29%	+98.92%

SOLT vs. BITI - Expense Ratio Comparison

SOLT has a 1.85% expense ratio, which is higher than BITI's 1.03% expense ratio.

Dividends

SOLT vs. BITI - Dividend Comparison

SOLT's dividend yield for the trailing twelve months is around 5.33%, less than BITI's 15.70% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.70%	1.60%	3.91%	3.33%	0.06%
SOLT 2x Solana ETF	5.33%	1.22%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOLT and BITI in my portfolio?

SOLT and BITI have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOLT or BITI?

SOLT has higher volatility (42.51%) compared to BITI (11.73%). In terms of maximum drawdown, SOLT dropped -96.28% vs BITI's -92.16%.

Which ETF is better, SOLT or BITI?

On 1-year performance, BITI leads with 64.31% vs -89.81% for SOLT. On fees, BITI is cheaper at 1.03% per year. On volatility, BITI has been the lower-risk option at 11.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOLT or BITI?

Over the 1-year period, BITI has performed better with a 64.31% return vs -89.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOLT or BITI?

BITI is cheaper with a 1.03% expense ratio, compared with 1.85% for SOLT.

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

BITI has the higher dividend yield at 15.70%, compared with 5.33% for SOLT.

What is the main difference between SOLT and BITI?

SOLT is categorized as Blockchain, while BITI is Cryptocurrency. They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 1.85% for SOLT and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.46 vs -0.61), 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.