TSMY vs. SBIT

Last updated Jul 14, 2026

TSMY (YieldMax TSM Option Income Strategy ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - TSMY is a Derivative Income fund actively managed by YieldMax, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). TSMY is actively managed, while SBIT is passively managed. Over the past year, TSMY returned 67.50% vs 124.12% for SBIT. At a correlation of -0.31, they often move in opposite directions. TSMY charges 0.99%/yr vs 0.95%/yr for SBIT.

Performance

TSMY vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax TSM Option Income Strategy ETF (TSMY) 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, TSMY achieves a 33.37% return, which is significantly lower than SBIT's 44.00% return.

TSMY

• 1D: -2.86%
• 1M: -0.10%
• 6M: 23.80%
• YTD: 33.37%
• 1Y: 67.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TSMY vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMY YieldMax TSM Option Income Strategy ETF	33.37%	41.00%	8.05%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-69.27%

Correlation

The correlation between TSMY and SBIT is -0.32, 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	-0.32
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.31

Return for Risk

TSMY vs. SBIT — Risk / Return Rank

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

TSMY

TSMY Risk / Return Rank: 82
TSMY Sharpe Ratio Rank: 82
TSMY Sortino Ratio Rank: 74
TSMY Omega Ratio Rank: 74
TSMY Calmar Ratio Rank: 90
TSMY Martin Ratio Rank: 88

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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.

TSMY vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax TSM Option Income Strategy ETF (TSMY) 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.

	TSMY	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.41	+0.67
Sortino ratio: Return per unit of downside risk	2.65	2.05	+0.59
Omega ratio: Gain probability vs. loss probability	1.35	1.25	+0.10
Calmar ratio: Return relative to maximum drawdown	4.38	2.60	+1.77
Martin ratio: Return relative to average drawdown	15.10	5.92	+9.18

TSMY vs. SBIT - Sharpe Ratio Comparison

The current TSMY Sharpe Ratio is 2.08, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of TSMY 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

TSMY vs. SBIT - Drawdown Comparison

The maximum TSMY drawdown since its inception was -31.15%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for TSMY and SBIT.

Drawdown Indicators

	TSMY	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-31.15%	-91.35%	+60.20%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-47.94%	+32.44%
Current Drawdown Current decline from peak	-9.70%	-77.15%	+67.45%
Average Drawdown Average peak-to-trough decline	-5.44%	-68.83%	+63.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	21.04%	-16.56%

Volatility

TSMY vs. SBIT - Volatility Comparison

The current volatility for YieldMax TSM Option Income Strategy ETF (TSMY) is 14.79%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that TSMY 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

	TSMY	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.79%	22.98%	-8.19%
Volatility (6M) Calculated over the trailing 6-month period	26.96%	68.89%	-41.93%
Volatility (1Y) Calculated over the trailing 1-year period	32.69%	88.51%	-55.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.39%	96.89%	-62.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.39%	96.89%	-62.50%

TSMY vs. SBIT - Expense Ratio Comparison

TSMY has a 0.99% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

TSMY vs. SBIT - Dividend Comparison

TSMY's dividend yield for the trailing twelve months is around 52.86%, more than SBIT's 3.97% yield.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%
TSMY YieldMax TSM Option Income Strategy ETF	52.86%	56.76%	13.71%

Frequently Asked Questions

Can I hold both TSMY and SBIT in my portfolio?

TSMY and SBIT have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSMY or SBIT?

SBIT has higher volatility (22.98%) compared to TSMY (14.79%). In terms of maximum drawdown, TSMY dropped -31.15% vs SBIT's -91.35%.

Which ETF is better, TSMY or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 67.50% for TSMY. On fees, SBIT is cheaper at 0.95% per year. On volatility, TSMY has been the lower-risk option at 14.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMY or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 67.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMY or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 0.99% for TSMY.

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

TSMY has the higher dividend yield at 52.86%, compared with 3.97% for SBIT.

What is the main difference between TSMY and SBIT?

TSMY is categorized as Derivative Income, while SBIT is Cryptocurrency. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for TSMY and 0.95% for SBIT.

Which has better risk-adjusted returns?

TSMY currently has the higher Sharpe Ratio (2.08 vs 1.41), 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.