TACK vs. BITI

Last updated Jul 17, 2026

TACK (Fairlead Tactical Sector Fund) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - TACK is a Tactical Allocation fund actively managed by Fairlead, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. TACK is actively managed, while BITI is passively managed. Over the past 3 years, TACK returned 11.36%/yr vs -31.62%/yr for BITI. At a correlation of -0.27, they often move in opposite directions. TACK charges 0.76%/yr vs 1.03%/yr for BITI.

Performance

TACK vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fairlead Tactical Sector Fund (TACK) 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, TACK achieves a 7.14% return, which is significantly lower than BITI's 24.48% return.

TACK

• 1D: 0.99%
• 1M: 1.02%
• 6M: 4.52%
• YTD: 7.14%
• 1Y: 14.29%
• 3Y*: 11.36%
• 5Y*: —
• 10Y*: —

BITI

• 1D: 1.13%
• 1M: 1.49%
• 6M: 35.86%
• YTD: 24.48%
• 1Y: 64.61%
• 3Y*: -31.62%
• 5Y*: —
• 10Y*: —

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

TACK vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TACK Fairlead Tactical Sector Fund	7.14%	10.93%	11.76%	7.43%	1.21%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between TACK and BITI is -0.37, 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	-0.37
Correlation (3Y) Calculated over the trailing 3-year period	-0.30
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.27

Return for Risk

TACK vs. BITI — Risk / Return Rank

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

TACK

TACK Risk / Return Rank: 55
TACK Sharpe Ratio Rank: 54
TACK Sortino Ratio Rank: 55
TACK Omega Ratio Rank: 49
TACK Calmar Ratio Rank: 61
TACK Martin Ratio Rank: 56

BITI

BITI Risk / Return Rank: 52
BITI Sharpe Ratio Rank: 53
BITI Sortino Ratio Rank: 50
BITI Omega Ratio Rank: 46
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.

TACK vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fairlead Tactical Sector Fund (TACK) 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.

	TACK	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.47	+0.02
Sortino ratio: Return per unit of downside risk	2.14	2.04	+0.10
Omega ratio: Gain probability vs. loss probability	1.25	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.46	2.57	-0.11
Martin ratio: Return relative to average drawdown	7.68	6.38	+1.30

TACK vs. BITI - Sharpe Ratio Comparison

The current TACK Sharpe Ratio is 1.49, which is comparable to the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of TACK 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

TACK vs. BITI - Drawdown Comparison

The maximum TACK drawdown since its inception was -14.49%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for TACK and BITI.

Drawdown Indicators

	TACK	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-14.49%	-92.16%	+77.67%
Max Drawdown (1Y) Largest decline over 1 year	-5.85%	-25.28%	+19.43%
Max Drawdown (3Y) Largest decline over 3 years	-14.49%	-84.63%	+70.14%
Current Drawdown Current decline from peak	0.00%	-86.41%	+86.41%
Average Drawdown Average peak-to-trough decline	-4.13%	-68.40%	+64.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	10.16%	-8.29%

Volatility

TACK vs. BITI - Volatility Comparison

The current volatility for Fairlead Tactical Sector Fund (TACK) is 2.61%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that TACK 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

	TACK	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	10.76%	-8.15%
Volatility (6M) Calculated over the trailing 6-month period	7.40%	34.28%	-26.88%
Volatility (1Y) Calculated over the trailing 1-year period	9.62%	44.15%	-34.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.19%	52.24%	-41.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.19%	52.24%	-41.05%

TACK vs. BITI - Expense Ratio Comparison

TACK has a 0.76% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

TACK vs. BITI - Dividend Comparison

TACK's dividend yield for the trailing twelve months is around 1.29%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%
TACK Fairlead Tactical Sector Fund	1.29%	1.18%	1.26%	1.29%	0.89%

Frequently Asked Questions

Can I hold both TACK and BITI in my portfolio?

TACK and BITI have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TACK or BITI?

BITI has higher volatility (10.76%) compared to TACK (2.61%). In terms of maximum drawdown, TACK dropped -14.49% vs BITI's -92.16%.

Which ETF is better, TACK or BITI?

On 3-year performance, TACK leads with 11.36% vs -31.62% for BITI. On fees, TACK is cheaper at 0.76% per year. On volatility, TACK has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TACK or BITI?

Over the 3-year period, TACK has performed better with a 11.36% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TACK or BITI?

TACK is cheaper with a 0.76% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 1.29% for TACK.

What is the main difference between TACK and BITI?

TACK is categorized as Tactical Allocation, while BITI is Cryptocurrency. They also come from different issuers: Fairlead and ProShares. Their fees differ too: 0.76% for TACK and 1.03% for BITI.

Which has better risk-adjusted returns?

TACK currently has the higher Sharpe Ratio (1.49 vs 1.47), 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.