SQLV vs. BITI

Last updated Aug 2, 2026

SQLV (Royce Quant Small-Cap Quality Value ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SQLV is a Quality Factor fund actively managed by Franklin Templeton, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. SQLV is actively managed, while BITI is passively managed. Over the past 3 years, SQLV returned 12.11%/yr vs -31.77%/yr for BITI. Their -0.35 correlation means they have often moved in opposite directions in the past. SQLV charges 0.60%/yr vs 1.03%/yr for BITI.

Performance

SQLV vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Quant Small-Cap Quality Value ETF (SQLV) 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, SQLV achieves a 23.57% return, which is significantly lower than BITI's 27.11% return.

SQLV

• 1D: -0.45%
• 1M: 1.00%
• 6M: 18.55%
• YTD: 23.57%
• 1Y: 37.64%
• 3Y*: 12.11%
• 5Y*: 8.18%
• 10Y*: —
• ALL TIME*: 9.92%

BITI

• 1D: 3.01%
• 1M: -2.58%
• 6M: 22.77%
• YTD: 27.11%
• 1Y: 58.64%
• 3Y*: -31.77%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITI ProShares Short Bitcoin ETF	$24.10M	$26.49M	$38.71M
SQLV Royce Quant Small-Cap Quality Value ETF	$1.18M	$614.27K	$248.07K

SQLV vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SQLV Royce Quant Small-Cap Quality Value ETF	23.57%	2.50%	4.76%	21.21%	4.85%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between SQLV and BITI is -0.30, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.30
Correlation (3Y) Balances recent behavior with more history.	-0.31
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.35

Return for Risk

SQLV vs. BITI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SQLV

SQLV Risk / Return Rank: 86
SQLV Sharpe Ratio Rank: 86
SQLV Sortino Ratio Rank: 88
SQLV Omega Ratio Rank: 81
SQLV Calmar Ratio Rank: 90
SQLV Martin Ratio Rank: 86

BITI

BITI Risk / Return Rank: 61
BITI Sharpe Ratio Rank: 63
BITI Sortino Ratio Rank: 60
BITI Omega Ratio Rank: 55
BITI Calmar Ratio Rank: 73
BITI Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SQLV vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Quant Small-Cap Quality Value ETF (SQLV) 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.

	SQLV	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.45	+0.57
Sortino ratio: Return per unit of downside risk	2.97	2.02	+0.95
Omega ratio: Gain probability vs. loss probability	1.34	1.24	+0.10
Calmar ratio: Return relative to maximum drawdown	3.95	2.53	+1.41
Martin ratio: Return relative to average drawdown	12.39	6.17	+6.22

SQLV vs. BITI - Sharpe Ratio Comparison

The current SQLV Sharpe Ratio is 2.02, which is higher than the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of SQLV 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

SQLV vs. BITI - Drawdown Comparison

The maximum SQLV drawdown since its inception was -48.34%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SQLV and BITI.

Drawdown Indicators

	SQLV	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-48.34%	-92.16%	+43.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.84%	-25.28%	+16.44%
Max Drawdown (3Y) Largest decline over 3 years	-26.86%	-84.63%	+57.77%
Max Drawdown (5Y) Largest decline over 5 years	-26.86%	—	—
Current Drawdown Current decline from peak	-1.74%	-86.12%	+84.38%
Average Drawdown Average peak-to-trough decline	-8.80%	-68.59%	+59.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	10.35%	-7.54%

Volatility

SQLV vs. BITI - Volatility Comparison

The current volatility for Royce Quant Small-Cap Quality Value ETF (SQLV) is 4.34%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that SQLV 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

	SQLV	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	9.13%	-4.79%
Volatility (6M) Calculated over the trailing 6-month period	11.60%	33.31%	-21.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.33%	44.23%	-26.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.87%	52.03%	-31.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.24%	52.03%	-28.79%

SQLV vs. BITI - Expense Ratio Comparison

SQLV has a 0.60% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

SQLV vs. BITI - Dividend Comparison

SQLV's dividend yield for the trailing twelve months is around 0.95%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%
SQLV Royce Quant Small-Cap Quality Value ETF	0.95%	1.15%	1.11%	1.09%	1.24%	1.12%	1.22%	1.20%	1.08%	0.40%

Frequently Asked Questions

Can I hold both SQLV and BITI in my portfolio?

SQLV and BITI have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SQLV or BITI?

BITI has higher volatility (9.13%) compared to SQLV (4.34%). In terms of maximum drawdown, SQLV dropped -48.34% vs BITI's -92.16%.

Which ETF is better, SQLV or BITI?

On 3-year performance, SQLV leads with 12.11% vs -31.77% for BITI. On fees, SQLV is cheaper at 0.60% per year. On volatility, SQLV has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQLV or BITI?

Over the 3-year period, SQLV has performed better with a 12.11% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQLV or BITI?

SQLV is cheaper with a 0.60% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.17%, compared with 0.95% for SQLV.

What is the main difference between SQLV and BITI?

SQLV is categorized as Quality Factor, while BITI is Cryptocurrency. They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.60% for SQLV and 1.03% for BITI.

Which has better risk-adjusted returns?

SQLV currently has the higher Sharpe Ratio (2.02 vs 1.45), 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.