TARK vs. BITI

Last updated Aug 2, 2026

TARK (Tradr 2X Long Innovation ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - TARK is a Leveraged Equities fund actively managed by AXS, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. TARK is actively managed, while BITI is passively managed. Over the past 3 years, TARK returned 1.19%/yr vs -31.77%/yr for BITI. Their -0.49 correlation means they have often moved in opposite directions in the past. TARK charges 1.15%/yr vs 1.03%/yr for BITI.

Performance

TARK vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long Innovation ETF (TARK) 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, TARK achieves a -24.46% return, which is significantly lower than BITI's 27.11% return.

TARK

• 1D: -4.73%
• 1M: -24.19%
• 6M: -18.59%
• YTD: -24.46%
• 1Y: -18.26%
• 3Y*: 1.19%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -9.86%

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
TARK Tradr 2X Long Innovation ETF	$604.81K	$641.97K	$710.94K

TARK vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TARK Tradr 2X Long Innovation ETF	-24.46%	41.00%	-4.85%	121.37%	-49.56%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between TARK and BITI is -0.64, 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.	-0.64
Correlation (3Y) Balances recent behavior with more history.	-0.52
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.49

The correlation between TARK and BITI shifts across timeframes, from -0.64 (1 year) to -0.49 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TARK vs. BITI — Risk / Return Rank

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

TARK

TARK Risk / Return Rank: 7
TARK Sharpe Ratio Rank: 6
TARK Sortino Ratio Rank: 8
TARK Omega Ratio Rank: 8
TARK Calmar Ratio Rank: 5
TARK Martin Ratio Rank: 5

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.

TARK vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Innovation ETF (TARK) 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.

	TARK	BITI	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	1.45	-1.83
Sortino ratio: Return per unit of downside risk	-0.12	2.02	-2.14
Omega ratio: Gain probability vs. loss probability	0.99	1.24	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.49	2.53	-3.02
Martin ratio: Return relative to average drawdown	-0.84	6.17	-7.01

TARK vs. BITI - Sharpe Ratio Comparison

The current TARK Sharpe Ratio is -0.39, which is lower than the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of TARK 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

TARK vs. BITI - Drawdown Comparison

The maximum TARK drawdown since its inception was -77.82%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for TARK and BITI.

Drawdown Indicators

	TARK	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-77.82%	-92.16%	+14.34%
Max Drawdown (1Y) Largest decline over 1 year	-57.57%	-25.28%	-32.29%
Max Drawdown (3Y) Largest decline over 3 years	-65.55%	-84.63%	+19.08%
Current Drawdown Current decline from peak	-50.30%	-86.12%	+35.82%
Average Drawdown Average peak-to-trough decline	-50.55%	-68.59%	+18.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.47%	10.35%	+23.12%

Volatility

TARK vs. BITI - Volatility Comparison

Tradr 2X Long Innovation ETF (TARK) has a higher volatility of 20.33% compared to ProShares Short Bitcoin ETF (BITI) at 9.13%. This indicates that TARK'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

	TARK	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.33%	9.13%	+11.20%
Volatility (6M) Calculated over the trailing 6-month period	55.18%	33.31%	+21.87%
Volatility (1Y) Calculated over the trailing 1-year period	72.66%	44.23%	+28.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.17%	52.03%	+38.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.17%	52.03%	+38.14%

TARK vs. BITI - Expense Ratio Comparison

TARK has a 1.15% expense ratio, which is higher than BITI's 1.03% expense ratio.

Dividends

TARK vs. BITI - Dividend Comparison

TARK's dividend yield for the trailing twelve months is around 39.71%, more 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%
TARK Tradr 2X Long Innovation ETF	39.71%	30.00%	0.59%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TARK and BITI in my portfolio?

TARK and BITI have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TARK or BITI?

TARK has higher volatility (20.33%) compared to BITI (9.13%). In terms of maximum drawdown, TARK dropped -77.82% vs BITI's -92.16%.

Which ETF is better, TARK or BITI?

On 3-year performance, TARK leads with 1.19% vs -31.77% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, BITI has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TARK or BITI?

Over the 3-year period, TARK has performed better with a 1.19% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TARK or BITI?

BITI is cheaper with a 1.03% expense ratio, compared with 1.15% for TARK.

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

TARK has the higher dividend yield at 39.71%, compared with 15.17% for BITI.

What is the main difference between TARK and BITI?

TARK is categorized as Leveraged Equities, while BITI is Cryptocurrency. They also come from different issuers: AXS and ProShares. Their fees differ too: 1.15% for TARK and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.45 vs -0.39), 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.