SVXY vs. BITU

Last updated Aug 2, 2026

SVXY (ProShares Short VIX Short-Term Futures ETF) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-0.5x), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, SVXY returned 33.59% vs -78.13% for BITU. Their 0.35 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.

Performance

SVXY vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short VIX Short-Term Futures ETF (SVXY) and Proshares Ultra Bitcoin ETF (BITU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVXY achieves a 4.84% return, which is significantly higher than BITU's -58.54% return.

SVXY

• 1D: 1.47%
• 1M: 1.31%
• 6M: 7.32%
• YTD: 4.84%
• 1Y: 33.59%
• 3Y*: 9.63%
• 5Y*: 16.64%
• 10Y*: -1.01%
• ALL TIME*: 12.70%

BITU

• 1D: -5.81%
• 1M: 2.83%
• 6M: -53.44%
• YTD: -58.54%
• 1Y: -78.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -34.77%

*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)
BITU Proshares Ultra Bitcoin ETF	$38.79M	$39.32M	$47.38M
SVXY ProShares Short VIX Short-Term Futures ETF	$95.64M	$79.87M	$82.81M

SVXY vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SVXY ProShares Short VIX Short-Term Futures ETF	4.84%	10.63%	-10.89%
BITU Proshares Ultra Bitcoin ETF	-58.54%	-37.07%	41.85%

Correlation

The correlation between SVXY and BITU is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.35

Return for Risk

SVXY vs. BITU — Risk / Return Rank

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

SVXY

SVXY Risk / Return Rank: 38
SVXY Sharpe Ratio Rank: 39
SVXY Sortino Ratio Rank: 37
SVXY Omega Ratio Rank: 40
SVXY Calmar Ratio Rank: 36
SVXY Martin Ratio Rank: 39

BITU

BITU Risk / Return Rank: 1
BITU Sharpe Ratio Rank: 2
BITU Sortino Ratio Rank: 1
BITU Omega Ratio Rank: 1
BITU Calmar Ratio Rank: 1
BITU Martin Ratio Rank: 1

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.

SVXY vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short VIX Short-Term Futures ETF (SVXY) and Proshares Ultra Bitcoin ETF (BITU). 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.

	SVXY	BITU	Difference
Sharpe ratio: Return per unit of total volatility	0.96	-0.90	+1.86
Sortino ratio: Return per unit of downside risk	1.39	-1.79	+3.18
Omega ratio: Gain probability vs. loss probability	1.19	0.80	+0.38
Calmar ratio: Return relative to maximum drawdown	1.23	-0.96	+2.18
Martin ratio: Return relative to average drawdown	4.00	-1.34	+5.34

SVXY vs. BITU - Sharpe Ratio Comparison

The current SVXY Sharpe Ratio is 0.96, which is higher than the BITU Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of SVXY and BITU, 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

SVXY vs. BITU - Drawdown Comparison

The maximum SVXY drawdown since its inception was -95.25%, which is greater than BITU's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for SVXY and BITU.

Drawdown Indicators

	SVXY	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-95.25%	-83.45%	-11.80%
Max Drawdown (1Y) Largest decline over 1 year	-22.94%	-83.45%	+60.51%
Max Drawdown (3Y) Largest decline over 3 years	-46.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.25%	—	—
Current Drawdown Current decline from peak	-79.00%	-81.46%	+2.46%
Average Drawdown Average peak-to-trough decline	-57.10%	-37.61%	-19.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.05%	59.30%	-52.25%

Volatility

SVXY vs. BITU - Volatility Comparison

The current volatility for ProShares Short VIX Short-Term Futures ETF (SVXY) is 7.44%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 17.90%. This indicates that SVXY experiences smaller price fluctuations and is considered to be less risky than BITU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVXY	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	17.90%	-10.46%
Volatility (6M) Calculated over the trailing 6-month period	22.23%	67.92%	-45.69%
Volatility (1Y) Calculated over the trailing 1-year period	29.49%	88.38%	-58.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.19%	96.07%	-60.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.47%	96.07%	-46.60%

SVXY vs. BITU - Expense Ratio Comparison

Both SVXY and BITU have an expense ratio of 0.95%.

Dividends

SVXY vs. BITU - Dividend Comparison

SVXY has not paid dividends to shareholders, while BITU's dividend yield for the trailing twelve months is around 93.04%.

Position	TTM	2025	2024
BITU Proshares Ultra Bitcoin ETF	82.40%	50.23%	0.12%
SVXY ProShares Short VIX Short-Term Futures ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SVXY and BITU in my portfolio?

SVXY and BITU have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVXY or BITU?

BITU has higher volatility (17.90%) compared to SVXY (7.44%). In terms of maximum drawdown, SVXY dropped -95.25% vs BITU's -83.45%.

Which ETF is better, SVXY or BITU?

On 1-year performance, SVXY leads with 33.59% vs -78.13% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, SVXY has been the lower-risk option at 7.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVXY or BITU?

Over the 1-year period, SVXY has performed better with a 33.59% return vs -78.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVXY or BITU?

SVXY and BITU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, SVXY or BITU?

BITU has the higher dividend yield at 82.40%, compared with 0.00% for SVXY.

What is the main difference between SVXY and BITU?

SVXY is categorized as Volatility, while BITU is Cryptocurrency. SVXY tracks S&P 500 VIX Short-Term Futures Index (-0.5x), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

SVXY currently has the higher Sharpe Ratio (0.96 vs -0.90), 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.