VSMV vs. BITI
VSMV (VictoryShares US Multi-Factor Minimum Volatility ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - VSMV is a Volatility Hedged Equity fund tracking the Nasdaq Victory Multi-Factor Minimum Volatility Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, VSMV returned 15.55%/yr vs -31.62%/yr for BITI. At a correlation of -0.29, they often move in opposite directions. VSMV charges 0.35%/yr vs 1.03%/yr for BITI.
Performance
VSMV vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, VSMV achieves a 9.75% return, which is significantly lower than BITI's 24.48% return.
VSMV
- 1D
- 1.09%
- 1M
- 0.29%
- 6M
- 6.23%
- YTD
- 9.75%
- 1Y
- 24.19%
- 3Y*
- 15.55%
- 5Y*
- 10.90%
- 10Y*
- —
BITI
- 1D
- 1.13%
- 1M
- 1.49%
- 6M
- 35.86%
- YTD
- 24.48%
- 1Y
- 64.61%
- 3Y*
- -31.62%
- 5Y*
- —
- 10Y*
- —
VSMV vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF | 9.75% | 16.77% | 15.79% | 12.34% | 8.40% |
BITI ProShares Short Bitcoin ETF | 24.48% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between VSMV and BITI is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.29 |
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Return for Risk
VSMV vs. BITI — Risk / Return Rank
VSMV
BITI
VSMV vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) 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.
| VSMV | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.25 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 4.69 | 2.57 | +2.12 |
| Martin ratioReturn relative to average drawdown | 16.68 | 6.38 | +10.30 |
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Drawdowns
VSMV vs. BITI - Drawdown Comparison
The maximum VSMV drawdown since its inception was -31.33%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for VSMV and BITI.
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Drawdown Indicators
| VSMV | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.33% | -92.16% | +60.83% |
Max Drawdown (1Y)Largest decline over 1 year | -5.18% | -25.28% | +20.10% |
Max Drawdown (3Y)Largest decline over 3 years | -13.22% | -84.63% | +71.41% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | — | — |
Current DrawdownCurrent decline from peak | -0.61% | -86.41% | +85.80% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -68.40% | +65.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 10.16% | -8.71% |
Volatility
VSMV vs. BITI - Volatility Comparison
The current volatility for VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) is 2.90%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.76%. This indicates that VSMV 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.
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Volatility by Period
| VSMV | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 10.76% | -7.86% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 34.28% | -27.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.30% | 44.15% | -34.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 52.24% | -39.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 52.24% | -37.25% |
VSMV vs. BITI - Expense Ratio Comparison
VSMV has a 0.35% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
VSMV vs. BITI - Dividend Comparison
VSMV's dividend yield for the trailing twelve months is around 1.31%, less than BITI's 15.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.62% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF | 1.31% | 1.35% | 1.36% | 1.77% | 1.99% | 1.36% | 2.01% | 2.00% | 2.42% | 1.11% |
Frequently Asked Questions
VSMV and BITI have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (10.76%) compared to VSMV (2.90%). In terms of maximum drawdown, VSMV dropped -31.33% vs BITI's -92.16%.
On 3-year performance, VSMV leads with 15.55% vs -31.62% for BITI. On fees, VSMV is cheaper at 0.35% per year. On volatility, VSMV has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VSMV has performed better with a 15.55% return vs -31.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VSMV is cheaper with a 0.35% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.62%, compared with 1.31% for VSMV.
VSMV is categorized as Volatility Hedged Equity, while BITI is Cryptocurrency. VSMV tracks Nasdaq Victory Multi-Factor Minimum Volatility Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Crestview and ProShares. Their fees differ too: 0.35% for VSMV and 1.03% for BITI.
VSMV currently has the higher Sharpe Ratio (2.62 vs 1.47), 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.
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