TEQI vs. BITI

Last updated Jul 17, 2026

TEQI (T. Rowe Price Equity Income ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - TEQI is a Large Cap Value Equities fund actively managed by T. Rowe Price, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. TEQI is actively managed, while BITI is passively managed. Over the past 3 years, TEQI returned 16.20%/yr vs -31.62%/yr for BITI. At a correlation of -0.32, they often move in opposite directions. TEQI charges 0.54%/yr vs 1.03%/yr for BITI.

Performance

TEQI vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Equity Income ETF (TEQI) 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, TEQI achieves a 14.87% return, which is significantly lower than BITI's 24.48% return.

TEQI

• 1D: 0.57%
• 1M: 2.36%
• 6M: 11.49%
• YTD: 14.87%
• 1Y: 22.80%
• 3Y*: 16.20%
• 5Y*: 11.03%
• 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)

TEQI vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TEQI T. Rowe Price Equity Income ETF	14.87%	13.36%	13.14%	9.64%	9.03%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between TEQI and BITI is -0.33, 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	-0.33
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	-0.32

Return for Risk

TEQI vs. BITI — Risk / Return Rank

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

TEQI

TEQI Risk / Return Rank: 81
TEQI Sharpe Ratio Rank: 83
TEQI Sortino Ratio Rank: 84
TEQI Omega Ratio Rank: 81
TEQI Calmar Ratio Rank: 77
TEQI Martin Ratio Rank: 77

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.

TEQI vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Equity Income ETF (TEQI) 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.

	TEQI	BITI	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.47	+0.67
Sortino ratio: Return per unit of downside risk	3.06	2.04	+1.02
Omega ratio: Gain probability vs. loss probability	1.38	1.25	+0.14
Calmar ratio: Return relative to maximum drawdown	3.17	2.57	+0.60
Martin ratio: Return relative to average drawdown	11.32	6.38	+4.95

TEQI vs. BITI - Sharpe Ratio Comparison

The current TEQI Sharpe Ratio is 2.14, which is higher than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of TEQI 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

TEQI vs. BITI - Drawdown Comparison

The maximum TEQI drawdown since its inception was -17.82%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for TEQI and BITI.

Drawdown Indicators

	TEQI	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-92.16%	+74.34%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-25.28%	+18.05%
Max Drawdown (3Y) Largest decline over 3 years	-14.85%	-84.63%	+69.78%
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	—	—
Current Drawdown Current decline from peak	0.00%	-86.41%	+86.41%
Average Drawdown Average peak-to-trough decline	-3.47%	-68.40%	+64.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	10.16%	-8.14%

Volatility

TEQI vs. BITI - Volatility Comparison

The current volatility for T. Rowe Price Equity Income ETF (TEQI) is 2.83%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that TEQI 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

	TEQI	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	10.76%	-7.93%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	34.28%	-26.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.71%	44.15%	-33.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	52.24%	-37.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.05%	52.24%	-37.19%

TEQI vs. BITI - Expense Ratio Comparison

TEQI has a 0.54% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

TEQI vs. BITI - Dividend Comparison

TEQI's dividend yield for the trailing twelve months is around 1.48%, 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%
TEQI T. Rowe Price Equity Income ETF	1.48%	1.71%	1.86%	2.12%	2.32%	3.03%	0.82%

Frequently Asked Questions

Can I hold both TEQI and BITI in my portfolio?

TEQI and BITI have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEQI or BITI?

BITI has higher volatility (10.76%) compared to TEQI (2.83%). In terms of maximum drawdown, TEQI dropped -17.82% vs BITI's -92.16%.

Which ETF is better, TEQI or BITI?

On 3-year performance, TEQI leads with 16.20% vs -31.62% for BITI. On fees, TEQI is cheaper at 0.54% per year. On volatility, TEQI has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEQI or BITI?

Over the 3-year period, TEQI has performed better with a 16.20% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEQI or BITI?

TEQI is cheaper with a 0.54% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.62%, compared with 1.48% for TEQI.

What is the main difference between TEQI and BITI?

TEQI is categorized as Large Cap Value Equities, while BITI is Cryptocurrency. They also come from different issuers: T. Rowe Price and ProShares. Their fees differ too: 0.54% for TEQI and 1.03% for BITI.

Which has better risk-adjusted returns?

TEQI currently has the higher Sharpe Ratio (2.14 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.