TFLR vs. SBIT

Last updated Aug 2, 2026

TFLR (T. Rowe Price Floating Rate ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - TFLR is a Bank Loan fund actively managed by T. Rowe Price, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). TFLR is actively managed, while SBIT is passively managed. Over the past year, TFLR returned 4.96% vs 98.77% for SBIT. Their -0.26 correlation means they have often moved in opposite directions in the past. TFLR charges 0.60%/yr vs 0.95%/yr for SBIT.

Performance

TFLR vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate ETF (TFLR) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFLR achieves a 1.99% return, which is significantly lower than SBIT's 39.44% return.

TFLR

• 1D: 0.03%
• 1M: 0.68%
• 6M: 2.03%
• YTD: 1.99%
• 1Y: 4.96%
• 3Y*: 7.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.77%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

*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)
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M
TFLR T. Rowe Price Floating Rate ETF	$4.35M	$3.87M	$3.99M

TFLR vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TFLR T. Rowe Price Floating Rate ETF	1.99%	6.57%	6.31%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-73.74%

Correlation

The correlation between TFLR and SBIT is -0.31, 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.	-0.31
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.26

Return for Risk

TFLR vs. SBIT — Risk / Return Rank

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

TFLR

TFLR Risk / Return Rank: 85
TFLR Sharpe Ratio Rank: 92
TFLR Sortino Ratio Rank: 93
TFLR Omega Ratio Rank: 95
TFLR Calmar Ratio Rank: 64
TFLR Martin Ratio Rank: 79

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

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.

TFLR vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.

	TFLR	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.27	+1.13
Sortino ratio: Return per unit of downside risk	3.56	1.95	+1.61
Omega ratio: Gain probability vs. loss probability	1.54	1.23	+0.31
Calmar ratio: Return relative to maximum drawdown	2.22	2.35	-0.13
Martin ratio: Return relative to average drawdown	10.10	5.19	+4.91

TFLR vs. SBIT - Sharpe Ratio Comparison

The current TFLR Sharpe Ratio is 2.40, which is higher than the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of TFLR and SBIT, 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

TFLR vs. SBIT - Drawdown Comparison

The maximum TFLR drawdown since its inception was -4.01%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for TFLR and SBIT.

Drawdown Indicators

	TFLR	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-4.01%	-91.35%	+87.34%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-47.94%	+45.76%
Max Drawdown (3Y) Largest decline over 3 years	-4.01%	—	—
Current Drawdown Current decline from peak	-0.06%	-77.87%	+77.81%
Average Drawdown Average peak-to-trough decline	-0.21%	-69.07%	+68.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	21.67%	-21.19%

Volatility

TFLR vs. SBIT - Volatility Comparison

The current volatility for T. Rowe Price Floating Rate ETF (TFLR) is 0.48%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that TFLR experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFLR	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	18.09%	-17.61%
Volatility (6M) Calculated over the trailing 6-month period	1.77%	67.10%	-65.33%
Volatility (1Y) Calculated over the trailing 1-year period	2.01%	88.65%	-86.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.61%	96.10%	-92.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.61%	96.10%	-92.49%

TFLR vs. SBIT - Expense Ratio Comparison

TFLR has a 0.60% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

TFLR vs. SBIT - Dividend Comparison

TFLR's dividend yield for the trailing twelve months is around 6.67%, more than SBIT's 4.10% yield.

Position	TTM	2025	2024	2023	2022
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%	0.00%	0.00%
TFLR T. Rowe Price Floating Rate ETF	6.67%	6.93%	8.18%	7.76%	0.58%

Frequently Asked Questions

Can I hold both TFLR and SBIT in my portfolio?

TFLR and SBIT have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TFLR or SBIT?

SBIT has higher volatility (18.09%) compared to TFLR (0.48%). In terms of maximum drawdown, TFLR dropped -4.01% vs SBIT's -91.35%.

Which ETF is better, TFLR or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 4.96% for TFLR. On fees, TFLR is cheaper at 0.60% per year. On volatility, TFLR has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TFLR or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 4.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TFLR or SBIT?

TFLR is cheaper with a 0.60% expense ratio, compared with 0.95% for SBIT.

Which ETF pays a higher dividend yield, TFLR or SBIT?

TFLR has the higher dividend yield at 6.67%, compared with 4.03% for SBIT.

What is the main difference between TFLR and SBIT?

TFLR is categorized as Bank Loan, while SBIT is Cryptocurrency. They also come from different issuers: T. Rowe Price and ProShares. Their fees differ too: 0.60% for TFLR and 0.95% for SBIT.

Which has better risk-adjusted returns?

TFLR currently has the higher Sharpe Ratio (2.40 vs 1.27), 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.