XBTY vs. SBIT

Last updated Jun 3, 2026

XBTY (GraniteShares YieldBOOST Bitcoin ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - XBTY is a Derivative Income fund actively managed by GraniteShares, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). XBTY is actively managed, while SBIT is passively managed. Over the past year, XBTY returned -35.32% vs 54.02% for SBIT. At a correlation of -0.90, they often move in opposite directions. XBTY charges 0.99%/yr vs 0.95%/yr for SBIT.

Performance

XBTY vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST Bitcoin ETF (XBTY) and Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XBTY achieves a -19.17% return, which is significantly lower than SBIT's 29.98% return.

XBTY

• 1D: -2.23%
• 1M: -7.49%
• YTD: -19.17%
• 6M: -19.19%
• 1Y: -35.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 11.98%
• 1M: 33.29%
• YTD: 29.98%
• 6M: 38.71%
• 1Y: 54.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XBTY vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025
XBTY GraniteShares YieldBOOST Bitcoin ETF	-19.17%	-21.15%
SBIT Proshares Ultrashort Bitcoin ETF	29.98%	18.99%

Correlation

The correlation between XBTY and SBIT is -0.91, 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	-0.91
Correlation (All Time) Calculated using the full available price history since May 14, 2025	-0.90

The correlation between XBTY and SBIT has been stable across timeframes, ranging from -0.91 to -0.90 - a consistent structural relationship.

Return for Risk

XBTY vs. SBIT — Risk / Return Rank

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

XBTY

XBTY Risk / Return Rank: 1
XBTY Sharpe Ratio Rank: 1
XBTY Sortino Ratio Rank: 1
XBTY Omega Ratio Rank: 1
XBTY Calmar Ratio Rank: 2
XBTY Martin Ratio Rank: 3

SBIT

SBIT Risk / Return Rank: 23
SBIT Sharpe Ratio Rank: 19
SBIT Sortino Ratio Rank: 26
SBIT Omega Ratio Rank: 25
SBIT Calmar Ratio Rank: 24
SBIT Martin Ratio Rank: 19

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.

XBTY vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Bitcoin ETF (XBTY) 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.

	XBTY	SBIT	Difference
Sharpe ratio Return per unit of total volatility	-1.25	0.62	-1.87
Sortino ratio Return per unit of downside risk	-1.78	1.38	-3.17
Omega ratio Gain probability vs. loss probability	0.79	1.17	-0.38
Calmar ratio Return relative to maximum drawdown	-0.78	1.14	-1.92
Martin ratio Return relative to average drawdown	-1.20	2.21	-3.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBTY vs. SBIT - Sharpe Ratio Comparison

The current XBTY Sharpe Ratio is -1.25, which is lower than the SBIT Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of XBTY and SBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XBTY	SBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.25	0.62	-1.87
Sharpe Ratio (All Time) Calculated using the full available price history	-1.25	-0.48	-0.77

Drawdowns

XBTY vs. SBIT - Drawdown Comparison

The maximum XBTY drawdown since its inception was -45.23%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for XBTY and SBIT.

Drawdown Indicators

	XBTY	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-45.23%	-91.35%	+46.12%
Max Drawdown (1Y) Largest decline over 1 year	-45.23%	-47.94%	+2.71%
Current Drawdown Current decline from peak	-45.23%	-79.37%	+34.14%
Average Drawdown Average peak-to-trough decline	-22.95%	-68.53%	+45.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.35%	24.66%	+4.69%

Volatility

XBTY vs. SBIT - Volatility Comparison

The current volatility for GraniteShares YieldBOOST Bitcoin ETF (XBTY) is 5.55%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.80%. This indicates that XBTY experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBTY	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.55%	18.80%	-13.25%
Volatility (6M) Calculated over the trailing 6-month period	18.20%	69.13%	-50.93%
Volatility (1Y) Calculated over the trailing 1-year period	28.34%	87.03%	-58.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.01%	97.49%	-69.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.01%	97.49%	-69.48%

XBTY vs. SBIT - Expense Ratio Comparison

XBTY has a 0.99% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

XBTY vs. SBIT - Dividend Comparison

XBTY's dividend yield for the trailing twelve months is around 239.89%, more than SBIT's 3.61% yield.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	3.61%	0.52%	1.00%
XBTY GraniteShares YieldBOOST Bitcoin ETF	239.89%	102.53%	0.00%

Frequently Asked Questions

Can I hold both XBTY and SBIT in my portfolio?

XBTY and SBIT have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XBTY or SBIT?

SBIT has higher volatility (18.80%) compared to XBTY (5.55%). In terms of maximum drawdown, XBTY dropped -45.23% vs SBIT's -91.35%.

Which ETF is better, XBTY or SBIT?

On 1-year performance, SBIT leads with 54.02% vs -35.32% for XBTY. On fees, SBIT is cheaper at 0.95% per year. On volatility, XBTY has been the lower-risk option at 5.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBTY or SBIT?

Over the 1-year period, SBIT has performed better with a 54.02% return vs -35.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBTY or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 0.99% for XBTY.

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

XBTY has the higher dividend yield at 239.89%, compared with 3.61% for SBIT.

What is the main difference between XBTY and SBIT?

XBTY is categorized as Derivative Income, while SBIT is Cryptocurrency. They also come from different issuers: GraniteShares and ProShares. Their fees differ too: 0.99% for XBTY and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (0.62 vs -1.25), 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.