TESL vs. BITI

Last updated Jul 17, 2026

TESL (Simplify Volt TSLA Revolution ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - TESL is a Large Cap Growth Equities fund tracking the Actively Managed, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, TESL returned 22.90%/yr vs -31.62%/yr for BITI. At a correlation of -0.36, they often move in opposite directions. TESL charges 0.97%/yr vs 1.03%/yr for BITI.

Performance

TESL vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Volt TSLA Revolution ETF (TESL) 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, TESL achieves a -12.21% return, which is significantly lower than BITI's 24.48% return.

TESL

• 1D: -2.76%
• 1M: -7.29%
• 6M: -9.18%
• YTD: -12.21%
• 1Y: -25.27%
• 3Y*: 22.90%
• 5Y*: 9.95%
• 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)

TESL vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TESL Simplify Volt TSLA Revolution ETF	-12.21%	-14.73%	152.27%	58.33%	-41.00%
BITI ProShares Short Bitcoin ETF	24.48%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between TESL and BITI is -0.39, 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	-0.39
Correlation (3Y) Calculated over the trailing 3-year period	-0.36
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.36

Return for Risk

TESL vs. BITI — Risk / Return Rank

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

TESL

TESL Risk / Return Rank: 6
TESL Sharpe Ratio Rank: 6
TESL Sortino Ratio Rank: 6
TESL Omega Ratio Rank: 6
TESL Calmar Ratio Rank: 5
TESL Martin Ratio Rank: 6

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.

TESL vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Volt TSLA Revolution ETF (TESL) 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.

	TESL	BITI	Difference
Sharpe ratio: Return per unit of total volatility	-0.45	1.47	-1.92
Sortino ratio: Return per unit of downside risk	-0.32	2.04	-2.36
Omega ratio: Gain probability vs. loss probability	0.96	1.25	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.45	2.57	-3.02
Martin ratio: Return relative to average drawdown	-0.74	6.38	-7.11

TESL vs. BITI - Sharpe Ratio Comparison

The current TESL Sharpe Ratio is -0.45, which is lower than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of TESL 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

TESL vs. BITI - Drawdown Comparison

The maximum TESL drawdown since its inception was -69.11%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for TESL and BITI.

Drawdown Indicators

	TESL	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-69.11%	-92.16%	+23.05%
Max Drawdown (1Y) Largest decline over 1 year	-56.12%	-25.28%	-30.84%
Max Drawdown (3Y) Largest decline over 3 years	-56.12%	-84.63%	+28.51%
Max Drawdown (5Y) Largest decline over 5 years	-69.11%	—	—
Current Drawdown Current decline from peak	-45.53%	-86.41%	+40.88%
Average Drawdown Average peak-to-trough decline	-37.78%	-68.40%	+30.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.27%	10.16%	+24.11%

Volatility

TESL vs. BITI - Volatility Comparison

Simplify Volt TSLA Revolution ETF (TESL) has a higher volatility of 18.06% compared to ProShares Short Bitcoin ETF (BITI) at 10.76%. This indicates that TESL'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

	TESL	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.06%	10.76%	+7.30%
Volatility (6M) Calculated over the trailing 6-month period	38.86%	34.28%	+4.58%
Volatility (1Y) Calculated over the trailing 1-year period	57.05%	44.15%	+12.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.48%	52.24%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.31%	52.24%	-1.93%

TESL vs. BITI - Expense Ratio Comparison

TESL has a 0.97% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

TESL vs. BITI - Dividend Comparison

TESL's dividend yield for the trailing twelve months is around 25.21%, more 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%
TESL Simplify Volt TSLA Revolution ETF	25.21%	23.87%	0.62%	0.00%	0.83%

Frequently Asked Questions

Can I hold both TESL and BITI in my portfolio?

TESL and BITI have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TESL or BITI?

TESL has higher volatility (18.06%) compared to BITI (10.76%). In terms of maximum drawdown, TESL dropped -69.11% vs BITI's -92.16%.

Which ETF is better, TESL or BITI?

On 3-year performance, TESL leads with 22.90% vs -31.62% for BITI. On fees, TESL is cheaper at 0.97% per year. On volatility, BITI has been the lower-risk option at 10.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TESL or BITI?

Over the 3-year period, TESL has performed better with a 22.90% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TESL or BITI?

TESL is cheaper with a 0.97% expense ratio, compared with 1.03% for BITI.

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

TESL has the higher dividend yield at 25.21%, compared with 15.62% for BITI.

What is the main difference between TESL and BITI?

TESL is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. TESL tracks Actively Managed, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Simplify and ProShares. Their fees differ too: 0.97% for TESL and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs -0.45), 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.