TDSB vs. BITI

Last updated Jul 17, 2026

TDSB (Cabana Target Drawdown 7 ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - TDSB is a Tactical Allocation fund actively managed by Exchange Traded Concepts, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. TDSB is actively managed, while BITI is passively managed. Over the past 3 years, TDSB returned 8.17%/yr vs -31.62%/yr for BITI. At a correlation of -0.20, they often move in opposite directions. TDSB charges 0.69%/yr vs 1.03%/yr for BITI.

Performance

TDSB vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Drawdown 7 ETF (TDSB) 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, TDSB achieves a 3.48% return, which is significantly lower than BITI's 24.48% return.

TDSB

• 1D: -0.21%
• 1M: -0.63%
• 6M: 1.88%
• YTD: 3.48%
• 1Y: 12.58%
• 3Y*: 8.17%
• 5Y*: 1.73%
• 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)

TDSB vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TDSB Cabana Target Drawdown 7 ETF	3.48%	12.95%	3.56%	4.71%	-0.95%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between TDSB and BITI is -0.36, 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	-0.36
Correlation (3Y) Calculated over the trailing 3-year period	-0.21
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.20

The correlation between TDSB and BITI shifts across timeframes, from -0.36 (1 year) to -0.20 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TDSB vs. BITI — Risk / Return Rank

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

TDSB

TDSB Risk / Return Rank: 74
TDSB Sharpe Ratio Rank: 78
TDSB Sortino Ratio Rank: 76
TDSB Omega Ratio Rank: 79
TDSB Calmar Ratio Rank: 68
TDSB Martin Ratio Rank: 68

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.

TDSB vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Drawdown 7 ETF (TDSB) 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.

	TDSB	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.47	+0.51
Sortino ratio: Return per unit of downside risk	2.72	2.04	+0.68
Omega ratio: Gain probability vs. loss probability	1.37	1.25	+0.12
Calmar ratio: Return relative to maximum drawdown	2.72	2.57	+0.15
Martin ratio: Return relative to average drawdown	9.61	6.38	+3.24

TDSB vs. BITI - Sharpe Ratio Comparison

The current TDSB Sharpe Ratio is 1.98, which is higher than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of TDSB 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

TDSB vs. BITI - Drawdown Comparison

The maximum TDSB drawdown since its inception was -19.56%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for TDSB and BITI.

Drawdown Indicators

	TDSB	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-92.16%	+72.60%
Max Drawdown (1Y) Largest decline over 1 year	-4.64%	-25.28%	+20.64%
Max Drawdown (3Y) Largest decline over 3 years	-6.84%	-84.63%	+77.79%
Max Drawdown (5Y) Largest decline over 5 years	-19.56%	—	—
Current Drawdown Current decline from peak	-1.90%	-86.41%	+84.51%
Average Drawdown Average peak-to-trough decline	-8.99%	-68.40%	+59.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	10.16%	-8.85%

Volatility

TDSB vs. BITI - Volatility Comparison

The current volatility for Cabana Target Drawdown 7 ETF (TDSB) is 1.62%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that TDSB 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

	TDSB	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	10.76%	-9.14%
Volatility (6M) Calculated over the trailing 6-month period	5.38%	34.28%	-28.90%
Volatility (1Y) Calculated over the trailing 1-year period	6.38%	44.15%	-37.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.37%	52.24%	-44.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.52%	52.24%	-44.72%

TDSB vs. BITI - Expense Ratio Comparison

TDSB has a 0.69% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

TDSB vs. BITI - Dividend Comparison

TDSB's dividend yield for the trailing twelve months is around 2.28%, less than BITI's 15.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BITI ProShares Short Bitcoin ETF	15.62%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%
TDSB Cabana Target Drawdown 7 ETF	2.28%	1.93%	3.50%	2.77%	1.81%	1.75%	0.46%

Frequently Asked Questions

Can I hold both TDSB and BITI in my portfolio?

TDSB and BITI have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDSB or BITI?

BITI has higher volatility (10.76%) compared to TDSB (1.62%). In terms of maximum drawdown, TDSB dropped -19.56% vs BITI's -92.16%.

Which ETF is better, TDSB or BITI?

On 3-year performance, TDSB leads with 8.17% vs -31.62% for BITI. On fees, TDSB is cheaper at 0.69% per year. On volatility, TDSB has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDSB or BITI?

Over the 3-year period, TDSB has performed better with a 8.17% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDSB or BITI?

TDSB is cheaper with a 0.69% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 2.28% for TDSB.

What is the main difference between TDSB and BITI?

TDSB is categorized as Tactical Allocation, while BITI is Cryptocurrency. They also come from different issuers: Exchange Traded Concepts and ProShares. Their fees differ too: 0.69% for TDSB and 1.03% for BITI.

Which has better risk-adjusted returns?

TDSB currently has the higher Sharpe Ratio (1.98 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.