VEGN vs. BITI

Last updated Aug 4, 2026

VEGN (US Vegan Climate ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - VEGN is a Large Cap Growth Equities fund tracking the US Vegan Climate Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, VEGN returned 25.20%/yr vs -32.35%/yr for BITI. Their -0.38 correlation means they have often moved in opposite directions in the past. VEGN charges 0.60%/yr vs 1.03%/yr for BITI.

Performance

VEGN vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Vegan Climate ETF (VEGN) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VEGN having a 24.89% return and BITI slightly higher at 25.22%.

VEGN

• 1D: 0.94%
• 1M: -2.96%
• 6M: 21.91%
• YTD: 24.89%
• 1Y: 38.42%
• 3Y*: 25.20%
• 5Y*: 14.06%
• 10Y*: —
• ALL TIME*: 18.20%

BITI

• 1D: -1.48%
• 1M: -4.03%
• 6M: 13.09%
• YTD: 25.22%
• 1Y: 56.28%
• 3Y*: -32.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.83%

*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)
BITI ProShares Short Bitcoin ETF	$24.18M	$25.87M	$38.72M
VEGN US Vegan Climate ETF	$422.55K	$571.15K	$475.18K

VEGN vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VEGN US Vegan Climate ETF	24.89%	13.71%	25.42%	38.10%	1.05%
BITI ProShares Short Bitcoin ETF	25.22%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between VEGN and BITI is -0.45, 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.	-0.45
Correlation (3Y) Balances recent behavior with more history.	-0.36
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.38

Return for Risk

VEGN vs. BITI — Risk / Return Rank

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

VEGN

VEGN Risk / Return Rank: 78
VEGN Sharpe Ratio Rank: 80
VEGN Sortino Ratio Rank: 76
VEGN Omega Ratio Rank: 75
VEGN Calmar Ratio Rank: 82
VEGN Martin Ratio Rank: 78

BITI

BITI Risk / Return Rank: 51
BITI Sharpe Ratio Rank: 51
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 62
BITI Martin Ratio Rank: 47

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.

VEGN vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Vegan Climate ETF (VEGN) 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.

	VEGN	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.28	+0.63
Sortino ratio: Return per unit of downside risk	2.55	1.86	+0.69
Omega ratio: Gain probability vs. loss probability	1.32	1.22	+0.10
Calmar ratio: Return relative to maximum drawdown	3.15	2.24	+0.91
Martin ratio: Return relative to average drawdown	10.39	5.45	+4.94

VEGN vs. BITI - Sharpe Ratio Comparison

The current VEGN Sharpe Ratio is 1.91, which is higher than the BITI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of VEGN 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

VEGN vs. BITI - Drawdown Comparison

The maximum VEGN drawdown since its inception was -34.14%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for VEGN and BITI.

Drawdown Indicators

	VEGN	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-34.14%	-92.16%	+58.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-25.28%	+13.03%
Max Drawdown (3Y) Largest decline over 3 years	-20.91%	-84.63%	+63.72%
Max Drawdown (5Y) Largest decline over 5 years	-33.40%	—	—
Current Drawdown Current decline from peak	-7.91%	-86.33%	+78.42%
Average Drawdown Average peak-to-trough decline	-7.52%	-68.61%	+61.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	10.37%	-6.66%

Volatility

VEGN vs. BITI - Volatility Comparison

The current volatility for US Vegan Climate ETF (VEGN) is 7.57%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 8.93%. This indicates that VEGN experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEGN	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	8.93%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	17.81%	33.35%	-15.54%
Volatility (1Y) Calculated over the trailing 1-year period	20.29%	44.25%	-23.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.98%	52.01%	-31.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.02%	52.01%	-28.99%

VEGN vs. BITI - Expense Ratio Comparison

VEGN has a 0.60% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

VEGN vs. BITI - Dividend Comparison

VEGN's dividend yield for the trailing twelve months is around 0.52%, less than BITI's 21.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BITI ProShares Short Bitcoin ETF	21.80%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%
VEGN US Vegan Climate ETF	0.52%	0.51%	0.51%	0.67%	0.81%	0.41%	0.71%	0.29%

Frequently Asked Questions

Can I hold both VEGN and BITI in my portfolio?

VEGN and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEGN or BITI?

BITI has higher volatility (8.93%) compared to VEGN (7.57%). In terms of maximum drawdown, VEGN dropped -34.14% vs BITI's -92.16%.

Which ETF is better, VEGN or BITI?

On 3-year performance, VEGN leads with 25.20% vs -32.35% for BITI. On fees, VEGN is cheaper at 0.60% per year. On volatility, VEGN has been the lower-risk option at 7.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VEGN or BITI?

Over the 3-year period, VEGN has performed better with a 25.20% return vs -32.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VEGN or BITI?

VEGN is cheaper with a 0.60% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 21.80%, compared with 0.52% for VEGN.

What is the main difference between VEGN and BITI?

VEGN is categorized as Large Cap Growth Equities, while BITI is Cryptocurrency. VEGN tracks US Vegan Climate Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Beyond Investing and ProShares. Their fees differ too: 0.60% for VEGN and 1.03% for BITI.

Which has better risk-adjusted returns?

VEGN currently has the higher Sharpe Ratio (1.91 vs 1.28), 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.