XMAG vs. SBIT

Last updated Aug 2, 2026

XMAG (Defiance Large Cap ex-Mag 7 ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, XMAG returned 21.36% vs 98.77% for SBIT. Their -0.38 correlation means they have often moved in opposite directions in the past. XMAG charges 0.35%/yr vs 0.95%/yr for SBIT.

Performance

XMAG vs. SBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Large Cap ex-Mag 7 ETF (XMAG) 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, XMAG achieves a 12.36% return, which is significantly lower than SBIT's 39.44% return.

XMAG

• 1D: -0.04%
• 1M: -1.41%
• 6M: 10.62%
• YTD: 12.36%
• 1Y: 21.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.93%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

*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)
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M
XMAG Defiance Large Cap ex-Mag 7 ETF	$1.40M	$2.49M	$1.91M

XMAG vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XMAG Defiance Large Cap ex-Mag 7 ETF	12.36%	15.63%	-1.52%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-56.67%

Correlation

The correlation between XMAG and SBIT is -0.42, 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.	-0.42
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	-0.38

Return for Risk

XMAG vs. SBIT — Risk / Return Rank

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

XMAG

XMAG Risk / Return Rank: 77
XMAG Sharpe Ratio Rank: 74
XMAG Sortino Ratio Rank: 76
XMAG Omega Ratio Rank: 70
XMAG Calmar Ratio Rank: 78
XMAG Martin Ratio Rank: 84

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

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.

XMAG vs. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Large Cap ex-Mag 7 ETF (XMAG) 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.

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.

	XMAG	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.27	+0.41
Sortino ratio: Return per unit of downside risk	2.44	1.95	+0.49
Omega ratio: Gain probability vs. loss probability	1.29	1.23	+0.06
Calmar ratio: Return relative to maximum drawdown	2.77	2.35	+0.42
Martin ratio: Return relative to average drawdown	11.56	5.19	+6.38

XMAG vs. SBIT - Sharpe Ratio Comparison

The current XMAG Sharpe Ratio is 1.68, which is higher than the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of XMAG 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.

Drawdowns

XMAG vs. SBIT - Drawdown Comparison

The maximum XMAG drawdown since its inception was -16.17%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for XMAG and SBIT.

Drawdown Indicators

	XMAG	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-16.17%	-91.35%	+75.18%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-47.94%	+40.65%
Current Drawdown Current decline from peak	-2.76%	-77.87%	+75.11%
Average Drawdown Average peak-to-trough decline	-2.07%	-69.07%	+67.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	21.67%	-19.92%

Volatility

XMAG vs. SBIT - Volatility Comparison

The current volatility for Defiance Large Cap ex-Mag 7 ETF (XMAG) is 3.55%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that XMAG 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

	XMAG	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	18.09%	-14.54%
Volatility (6M) Calculated over the trailing 6-month period	9.62%	67.10%	-57.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	88.65%	-76.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	96.10%	-81.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.03%	96.10%	-81.07%

XMAG vs. SBIT - Expense Ratio Comparison

XMAG has a 0.35% expense ratio, which is lower than SBIT's 0.95% expense ratio.

Dividends

XMAG vs. SBIT - Dividend Comparison

XMAG's dividend yield for the trailing twelve months is around 0.46%, less than SBIT's 4.10% yield.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.46%	0.51%	0.24%

Frequently Asked Questions

Can I hold both XMAG and SBIT in my portfolio?

XMAG and SBIT have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMAG or SBIT?

SBIT has higher volatility (18.09%) compared to XMAG (3.55%). In terms of maximum drawdown, XMAG dropped -16.17% vs SBIT's -91.35%.

Which ETF is better, XMAG or SBIT?

On 1-year performance, SBIT leads with 98.77% vs 21.36% for XMAG. On fees, XMAG is cheaper at 0.35% per year. On volatility, XMAG has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMAG or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs 21.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMAG or SBIT?

XMAG is cheaper with a 0.35% expense ratio, compared with 0.95% for SBIT.

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

SBIT has the higher dividend yield at 4.03%, compared with 0.46% for XMAG.

What is the main difference between XMAG and SBIT?

XMAG is categorized as Large Cap Blend Equities, while SBIT is Cryptocurrency. XMAG tracks BITA US 500 ex Magnificent 7 Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Defiance and ProShares. Their fees differ too: 0.35% for XMAG and 0.95% for SBIT.

Which has better risk-adjusted returns?

XMAG currently has the higher Sharpe Ratio (1.68 vs 1.27), 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.