TBX vs. BITO
Compare and contrast key facts about ProShares Short 7-10 Year Treasury (TBX) and ProShares Bitcoin Strategy ETF (BITO).
TBX and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TBX is a passively managed fund by ProShares that tracks the performance of the ICE BofA US Treasury (7-10 Y) (-100%). It was launched on Apr 4, 2011. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
TBX vs. BITO - Performance Comparison
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TBX vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TBX ProShares Short 7-10 Year Treasury | 1.57% | -1.15% | 8.52% | 3.99% | 18.31% | -1.48% |
BITO ProShares Bitcoin Strategy ETF | -22.79% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Returns By Period
In the year-to-date period, TBX achieves a 1.57% return, which is significantly higher than BITO's -22.79% return.
TBX
- 1D
- 0.08%
- 1M
- 2.27%
- YTD
- 1.57%
- 6M
- 2.49%
- 1Y
- 4.06%
- 3Y*
- 5.11%
- 5Y*
- 5.34%
- 10Y*
- 1.73%
BITO
- 1D
- 0.60%
- 1M
- -1.72%
- YTD
- -22.79%
- 6M
- -43.10%
- 1Y
- -23.27%
- 3Y*
- 24.87%
- 5Y*
- —
- 10Y*
- —
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TBX vs. BITO - Expense Ratio Comparison
Both TBX and BITO have an expense ratio of 0.95%.
Return for Risk
TBX vs. BITO — Risk / Return Rank
TBX
BITO
TBX vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short 7-10 Year Treasury (TBX) and ProShares Bitcoin Strategy ETF (BITO). 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.
| TBX | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.48 | -0.52 | +0.99 |
Sortino ratioReturn per unit of downside risk | 0.75 | -0.50 | +1.24 |
Omega ratioGain probability vs. loss probability | 1.11 | 0.94 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 0.43 | -0.42 | +0.85 |
Martin ratioReturn relative to average drawdown | 0.60 | -0.89 | +1.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TBX | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.48 | -0.52 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.17 | -0.08 | -0.10 |
Correlation
The correlation between TBX and BITO is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TBX vs. BITO - Dividend Comparison
TBX's dividend yield for the trailing twelve months is around 3.09%, less than BITO's 80.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TBX ProShares Short 7-10 Year Treasury | 3.09% | 3.45% | 6.58% | 4.07% | 0.40% | 0.00% | 0.10% | 1.53% | 0.72% |
BITO ProShares Bitcoin Strategy ETF | 80.47% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TBX vs. BITO - Drawdown Comparison
The maximum TBX drawdown since its inception was -41.04%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for TBX and BITO.
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Drawdown Indicators
| TBX | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.04% | -77.86% | +36.82% |
Max Drawdown (1Y)Largest decline over 1 year | -6.77% | -50.05% | +43.28% |
Max Drawdown (5Y)Largest decline over 5 years | -7.77% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.46% | — | — |
Current DrawdownCurrent decline from peak | -18.30% | -46.75% | +28.45% |
Average DrawdownAverage peak-to-trough decline | -26.74% | -36.57% | +9.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 23.73% | -18.89% |
Volatility
TBX vs. BITO - Volatility Comparison
The current volatility for ProShares Short 7-10 Year Treasury (TBX) is 1.92%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.84%. This indicates that TBX experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBX | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 12.84% | -10.92% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 36.71% | -33.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.65% | 45.32% | -36.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 55.77% | -47.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.14% | 55.77% | -48.63% |