XAUG vs. BITI
XAUG (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - XAUG is a Options Trading fund actively managed by FT Vest, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. XAUG is actively managed, while BITI is passively managed. Over the past year, XAUG returned 9.31% vs 58.64% for BITI. Their -0.36 correlation means they have often moved in opposite directions in the past. XAUG charges 0.85%/yr vs 1.03%/yr for BITI.
Performance
XAUG vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, XAUG achieves a 5.10% return, which is significantly lower than BITI's 27.11% return.
XAUG
- 1D
- 0.07%
- 1M
- 0.60%
- 6M
- 4.54%
- YTD
- 5.10%
- 1Y
- 9.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.95%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.10M | $26.49M | $38.71M | |
| $45.74K | $29.71K | $511.80K |
XAUG vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XAUG FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August | 5.10% | 9.48% | 9.02% | 5.40% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -39.50% |
Correlation
The correlation between XAUG and BITI is -0.48, 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. | -0.48 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023 | -0.36 |
The correlation between XAUG and BITI shifts across timeframes, from -0.48 (1 year) to -0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XAUG vs. BITI — Risk / Return Rank
XAUG
BITI
XAUG vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG) 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.
| XAUG | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.24 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 2.53 | +0.44 |
| Martin ratioReturn relative to average drawdown | 16.05 | 6.17 | +9.88 |
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Drawdowns
XAUG vs. BITI - Drawdown Comparison
The maximum XAUG drawdown since its inception was -8.70%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for XAUG and BITI.
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Drawdown Indicators
| XAUG | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.70% | -92.16% | +83.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -25.28% | +22.16% |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.63% | — |
Current DrawdownCurrent decline from peak | 0.00% | -86.12% | +86.12% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -68.59% | +68.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 10.35% | -9.77% |
Volatility
XAUG vs. BITI - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG) is 0.43%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 9.13%. This indicates that XAUG 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
| XAUG | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 9.13% | -8.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 33.31% | -29.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 44.23% | -39.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 52.03% | -45.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.35% | 52.03% | -45.68% |
XAUG vs. BITI - Expense Ratio Comparison
XAUG has a 0.85% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
XAUG vs. BITI - Dividend Comparison
XAUG has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 15.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% |
XAUG FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XAUG and BITI have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (9.13%) compared to XAUG (0.43%). In terms of maximum drawdown, XAUG dropped -8.70% vs BITI's -92.16%.
On 1-year performance, BITI leads with 58.64% vs 9.31% for XAUG. On fees, XAUG is cheaper at 0.85% per year. On volatility, XAUG has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BITI has performed better with a 58.64% return vs 9.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XAUG is cheaper with a 0.85% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 0.00% for XAUG.
XAUG is categorized as Options Trading, while BITI is Cryptocurrency. They also come from different issuers: FT Vest and ProShares. Their fees differ too: 0.85% for XAUG and 1.03% for BITI.
XAUG currently has the higher Sharpe Ratio (2.12 vs 1.45), 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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