WRND vs. BITI

Last updated Aug 2, 2026

WRND (IQ Global Equity R&D Leaders ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - WRND is a Global Equities fund tracking the IQ Global Equity R&D Leaders Index - Benchmark TR Net, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, WRND returned 19.01%/yr vs -31.77%/yr for BITI. Their -0.38 correlation means they have often moved in opposite directions in the past. WRND charges 0.18%/yr vs 1.03%/yr for BITI.

Performance

WRND vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ Global Equity R&D Leaders ETF (WRND) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WRND achieves a 12.55% return, which is significantly lower than BITI's 27.11% return.

WRND

• 1D: 2.30%
• 1M: -0.30%
• 6M: 7.58%
• YTD: 12.55%
• 1Y: 28.82%
• 3Y*: 19.01%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.73%

BITI

• 1D: 3.01%
• 1M: -2.58%
• 6M: 22.77%
• YTD: 27.11%
• 1Y: 58.64%
• 3Y*: -31.77%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.65%

*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	$24.10M	$26.49M	$38.71M
WRND IQ Global Equity R&D Leaders ETF	$60.47K	$31.46K	$21.89K

WRND vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
WRND IQ Global Equity R&D Leaders ETF	12.55%	27.72%	13.46%	34.85%	-0.82%
BITI ProShares Short Bitcoin ETF	27.11%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between WRND and BITI is -0.49, 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.	-0.49
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

The correlation between WRND and BITI shifts across timeframes, from -0.49 (1 year) to -0.36 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

WRND vs. BITI — Risk / Return Rank

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

WRND

WRND Risk / Return Rank: 60
WRND Sharpe Ratio Rank: 61
WRND Sortino Ratio Rank: 58
WRND Omega Ratio Rank: 56
WRND Calmar Ratio Rank: 62
WRND Martin Ratio Rank: 66

BITI

BITI Risk / Return Rank: 61
BITI Sharpe Ratio Rank: 63
BITI Sortino Ratio Rank: 60
BITI Omega Ratio Rank: 55
BITI Calmar Ratio Rank: 73
BITI Martin Ratio Rank: 53

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.

WRND vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ Global Equity R&D Leaders ETF (WRND) 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.

	WRND	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.45	-0.02
Sortino ratio: Return per unit of downside risk	2.01	2.02	-0.01
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	2.18	2.53	-0.36
Martin ratio: Return relative to average drawdown	8.00	6.17	+1.83

WRND vs. BITI - Sharpe Ratio Comparison

The current WRND Sharpe Ratio is 1.43, which is comparable to the BITI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of WRND 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

WRND vs. BITI - Drawdown Comparison

The maximum WRND drawdown since its inception was -27.16%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for WRND and BITI.

Drawdown Indicators

	WRND	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-27.16%	-92.16%	+65.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-25.28%	+12.85%
Max Drawdown (3Y) Largest decline over 3 years	-18.41%	-84.63%	+66.22%
Current Drawdown Current decline from peak	-3.82%	-86.12%	+82.30%
Average Drawdown Average peak-to-trough decline	-5.90%	-68.59%	+62.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	10.35%	-6.97%

Volatility

WRND vs. BITI - Volatility Comparison

The current volatility for IQ Global Equity R&D Leaders ETF (WRND) is 6.27%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that WRND 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

	WRND	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	9.13%	-2.86%
Volatility (6M) Calculated over the trailing 6-month period	15.90%	33.31%	-17.41%
Volatility (1Y) Calculated over the trailing 1-year period	18.93%	44.23%	-25.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	52.03%	-33.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	52.03%	-33.01%

WRND vs. BITI - Expense Ratio Comparison

WRND has a 0.18% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

WRND vs. BITI - Dividend Comparison

WRND's dividend yield for the trailing twelve months is around 0.93%, less than BITI's 15.30% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	15.17%	1.60%	3.91%	3.33%	0.06%
WRND IQ Global Equity R&D Leaders ETF	0.93%	1.29%	1.15%	2.06%	2.06%

Frequently Asked Questions

Can I hold both WRND and BITI in my portfolio?

WRND and BITI have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WRND or BITI?

BITI has higher volatility (9.13%) compared to WRND (6.27%). In terms of maximum drawdown, WRND dropped -27.16% vs BITI's -92.16%.

Which ETF is better, WRND or BITI?

On 3-year performance, WRND leads with 19.01% vs -31.77% for BITI. On fees, WRND is cheaper at 0.18% per year. On volatility, WRND has been the lower-risk option at 6.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WRND or BITI?

Over the 3-year period, WRND has performed better with a 19.01% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WRND or BITI?

WRND is cheaper with a 0.18% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 15.17%, compared with 0.93% for WRND.

What is the main difference between WRND and BITI?

WRND is categorized as Global Equities, while BITI is Cryptocurrency. WRND tracks IQ Global Equity R&D Leaders Index - Benchmark TR Net, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: IndexIQ and ProShares. Their fees differ too: 0.18% for WRND and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.45 vs 1.43), 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.