SRHQ vs. BITI

Last updated Aug 2, 2026

SRHQ (SRH U.S. Quality ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SRHQ is a Quality Factor fund tracking the SRH US Quality Index - Benchmark TR Gross, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, SRHQ returned 17.26%/yr vs -31.77%/yr for BITI. Their -0.30 correlation means they have often moved in opposite directions in the past. SRHQ charges 0.35%/yr vs 1.03%/yr for BITI.

Performance

SRHQ vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SRH U.S. Quality ETF (SRHQ) 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, SRHQ achieves a 20.78% return, which is significantly lower than BITI's 27.11% return.

SRHQ

• 1D: -0.33%
• 1M: 1.86%
• 6M: 18.75%
• YTD: 20.78%
• 1Y: 31.30%
• 3Y*: 17.26%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.88%

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
SRHQ SRH U.S. Quality ETF	$113.47K	$63.13K	$30.03K

SRHQ vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SRHQ SRH U.S. Quality ETF	20.78%	7.34%	16.49%	21.81%	5.22%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-62.60%	-66.17%	8.76%

Correlation

The correlation between SRHQ 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.	-0.29
Correlation (All Time) Calculated using the full available price history since Oct 5, 2022	-0.30

Return for Risk

SRHQ vs. BITI — Risk / Return Rank

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

SRHQ

SRHQ Risk / Return Rank: 87
SRHQ Sharpe Ratio Rank: 84
SRHQ Sortino Ratio Rank: 84
SRHQ Omega Ratio Rank: 80
SRHQ Calmar Ratio Rank: 93
SRHQ Martin Ratio Rank: 93

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.

SRHQ vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SRH U.S. Quality ETF (SRHQ) 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.

	SRHQ	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.45	+0.53
Sortino ratio: Return per unit of downside risk	2.80	2.02	+0.78
Omega ratio: Gain probability vs. loss probability	1.34	1.24	+0.10
Calmar ratio: Return relative to maximum drawdown	4.64	2.53	+2.11
Martin ratio: Return relative to average drawdown	16.85	6.17	+10.67

SRHQ vs. BITI - Sharpe Ratio Comparison

The current SRHQ Sharpe Ratio is 1.97, which is higher than the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of SRHQ 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

SRHQ vs. BITI - Drawdown Comparison

The maximum SRHQ drawdown since its inception was -18.50%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SRHQ and BITI.

Drawdown Indicators

	SRHQ	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-18.50%	-92.16%	+73.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.31%	-25.28%	+18.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	-84.63%	+66.13%
Current Drawdown Current decline from peak	-1.47%	-86.12%	+84.65%
Average Drawdown Average peak-to-trough decline	-2.98%	-68.59%	+65.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	10.35%	-8.61%

Volatility

SRHQ vs. BITI - Volatility Comparison

The current volatility for SRH U.S. Quality ETF (SRHQ) is 4.37%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that SRHQ 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

	SRHQ	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	9.13%	-4.76%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	33.31%	-22.21%
Volatility (1Y) Calculated over the trailing 1-year period	14.90%	44.23%	-29.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	52.03%	-36.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.96%	52.03%	-36.07%

SRHQ vs. BITI - Expense Ratio Comparison

SRHQ has a 0.35% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

SRHQ vs. BITI - Dividend Comparison

SRHQ's dividend yield for the trailing twelve months is around 0.69%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%
SRHQ SRH U.S. Quality ETF	0.69%	0.76%	0.66%	0.84%	0.27%

Frequently Asked Questions

Can I hold both SRHQ and BITI in my portfolio?

SRHQ 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, SRHQ or BITI?

BITI has higher volatility (9.13%) compared to SRHQ (4.37%). In terms of maximum drawdown, SRHQ dropped -18.50% vs BITI's -92.16%.

Which ETF is better, SRHQ or BITI?

On 3-year performance, SRHQ leads with 17.26% vs -31.77% for BITI. On fees, SRHQ is cheaper at 0.35% per year. On volatility, SRHQ has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SRHQ or BITI?

Over the 3-year period, SRHQ has performed better with a 17.26% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SRHQ or BITI?

SRHQ is cheaper with a 0.35% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.17%, compared with 0.69% for SRHQ.

What is the main difference between SRHQ and BITI?

SRHQ is categorized as Quality Factor, while BITI is Cryptocurrency. SRHQ tracks SRH US Quality Index - Benchmark TR Gross, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: SRH and ProShares. Their fees differ too: 0.35% for SRHQ and 1.03% for BITI.

Which has better risk-adjusted returns?

SRHQ currently has the higher Sharpe Ratio (1.97 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.