TXXH vs. SBIT

Last updated Jun 30, 2026

TXXH (21Shares 2x Long HYPE ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - TXXH is a Leveraged Cryptocurrency fund actively managed by 21Shares, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). TXXH is actively managed, while SBIT is passively managed. At a correlation of -0.54, they often move in opposite directions. TXXH charges 1.89%/yr vs 0.95%/yr for SBIT.

Performance

TXXH vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares 2x Long HYPE ETF (TXXH) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TXXH

• 1D: 6.57%
• 1M: -13.53%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: -2.15%
• 1M: 40.83%
• YTD: 55.04%
• 6M: 53.57%
• 1Y: 95.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TXXH vs. SBIT - Yearly Performance Comparison

	2026 (YTD)
TXXH 21Shares 2x Long HYPE ETF	115.50%
SBIT Proshares Ultrashort Bitcoin ETF	47.15%

Correlation

The correlation between TXXH and SBIT is -0.54, 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 Apr 30, 2026	-0.54

Return for Risk

TXXH vs. SBIT — Risk / Return Rank

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

TXXH

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

SBIT

SBIT Risk / Return Rank: 36
SBIT Sharpe Ratio Rank: 32
SBIT Sortino Ratio Rank: 37
SBIT Omega Ratio Rank: 34
SBIT Calmar Ratio Rank: 45
SBIT Martin Ratio Rank: 31

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.

TXXH vs. SBIT - Risk-Adjusted Trends Comparison

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

	TXXH	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.08	—
Sortino ratio: Return per unit of downside risk	—	1.80	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.99	—
Martin ratio: Return relative to average drawdown	—	4.16	—

Drawdowns

TXXH vs. SBIT - Drawdown Comparison

The maximum TXXH drawdown since its inception was -50.46%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for TXXH and SBIT.

Drawdown Indicators

	TXXH	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-50.46%	-91.35%	+40.89%
Max Drawdown (1Y) Largest decline over 1 year	—	-47.94%	—
Current Drawdown Current decline from peak	-29.17%	-75.40%	+46.23%
Average Drawdown Average peak-to-trough decline	-15.39%	-68.70%	+53.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	22.95%	—

Volatility

Volatility by Period

	TXXH	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	27.01%	—
Volatility (6M) Calculated over the trailing 6-month period	—	68.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	195.45%	88.70%	+106.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	195.45%	97.22%	+98.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	195.45%	97.22%	+98.23%

TXXH vs. SBIT - Expense Ratio Comparison

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

Dividends

TXXH vs. SBIT - Dividend Comparison

TXXH has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 3.03%.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	3.03%	0.52%	1.00%
TXXH 21Shares 2x Long HYPE ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TXXH and SBIT in my portfolio?

TXXH and SBIT have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TXXH 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, TXXH or SBIT?

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

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

SBIT has the higher dividend yield at 3.03%, compared with 0.00% for TXXH.

What is the main difference between TXXH and SBIT?

TXXH 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 TXXH and 0.95% for SBIT.