TXXD vs. SBIT

Last updated Jun 26, 2026

TXXD (21Shares 2x Long Dogecoin ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - TXXD is a Leveraged Cryptocurrency fund actively managed by 21Shares, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). TXXD is actively managed, while SBIT is passively managed. At a correlation of -0.81, they often move in opposite directions. TXXD charges 1.89%/yr vs 0.95%/yr for SBIT.

Performance

TXXD vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares 2x Long Dogecoin ETF (TXXD) 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, TXXD achieves a -74.57% return, which is significantly lower than SBIT's 61.33% return.

TXXD

• 1D: -3.47%
• 1M: -51.20%
• YTD: -74.57%
• 6M: -79.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 2.31%
• 1M: 56.16%
• YTD: 61.33%
• 6M: 60.82%
• 1Y: 106.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TXXD vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
TXXD 21Shares 2x Long Dogecoin ETF	-74.57%	-53.35%
SBIT Proshares Ultrashort Bitcoin ETF	61.33%	-0.72%

Correlation

The correlation between TXXD and SBIT is -0.81, 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 (All Time) Calculated using the full available price history since Nov 20, 2025	-0.81

Return for Risk

TXXD vs. SBIT — Risk / Return Rank

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

TXXD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SBIT

SBIT Risk / Return Rank: 41
SBIT Sharpe Ratio Rank: 38
SBIT Sortino Ratio Rank: 41
SBIT Omega Ratio Rank: 39
SBIT Calmar Ratio Rank: 52
SBIT Martin Ratio Rank: 34

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.

TXXD vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares 2x Long Dogecoin ETF (TXXD) 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.

	TXXD	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.21	—
Sortino ratio: Return per unit of downside risk	—	1.90	—
Omega ratio: Gain probability vs. loss probability	—	1.23	—
Calmar ratio: Return relative to maximum drawdown	—	2.24	—
Martin ratio: Return relative to average drawdown	—	4.68	—

Drawdowns

TXXD vs. SBIT - Drawdown Comparison

The maximum TXXD drawdown since its inception was -88.14%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for TXXD and SBIT.

Drawdown Indicators

	TXXD	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-88.14%	-91.35%	+3.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-47.94%	—
Current Drawdown Current decline from peak	-88.14%	-74.40%	-13.74%
Average Drawdown Average peak-to-trough decline	-62.86%	-68.68%	+5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	22.94%	—

Volatility

Volatility by Period

	TXXD	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	26.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	68.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	148.88%	88.57%	+60.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	148.88%	97.38%	+51.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	148.88%	97.38%	+51.50%

TXXD vs. SBIT - Expense Ratio Comparison

TXXD has a 1.89% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

TXXD vs. SBIT - Dividend Comparison

TXXD's dividend yield for the trailing twelve months is around 0.10%, less than SBIT's 2.91% yield.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	2.91%	0.52%	1.00%
TXXD 21Shares 2x Long Dogecoin ETF	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TXXD and SBIT in my portfolio?

TXXD and SBIT have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TXXD or SBIT?

On fees, SBIT is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TXXD or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 1.89% for TXXD.

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

SBIT has the higher dividend yield at 2.91%, compared with 0.10% for TXXD.

What is the main difference between TXXD and SBIT?

TXXD is categorized as Leveraged Cryptocurrency, while SBIT is Cryptocurrency. They also come from different issuers: 21Shares and ProShares. Their fees differ too: 1.89% for TXXD and 0.95% for SBIT.