XPP vs. BITI
XPP (ProShares Ultra FTSE China 50) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - XPP is a China Equities fund tracking the FTSE/Xinhua China 25 Index (200%), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, XPP returned 4.02%/yr vs -31.77%/yr for BITI. Their -0.23 correlation means they have often moved in opposite directions in the past. XPP charges 0.95%/yr vs 1.03%/yr for BITI.
Performance
XPP vs. BITI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XPP achieves a -13.25% return, which is significantly lower than BITI's 27.11% return.
XPP
- 1D
- -0.03%
- 1M
- 29.99%
- 6M
- -18.24%
- YTD
- -13.25%
- 1Y
- -7.90%
- 3Y*
- 4.02%
- 5Y*
- -14.42%
- 10Y*
- -5.62%
- ALL TIME*
- -4.67%
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 | |
| $97.64K | $74.04K | $132.37K |
XPP vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XPP ProShares Ultra FTSE China 50 | -13.25% | 45.84% | 38.18% | -34.77% | -28.94% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between XPP and BITI is -0.35, 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. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.23 |
The correlation between XPP and BITI shifts across timeframes, from -0.35 (1 year) to -0.20 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XPP vs. BITI — Risk / Return Rank
XPP
BITI
XPP vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra FTSE China 50 (XPP) 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.
| XPP | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.14 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.24 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 2.53 | -2.78 |
| Martin ratioReturn relative to average drawdown | -0.50 | 6.17 | -6.68 |
Loading charts...
Drawdowns
XPP vs. BITI - Drawdown Comparison
The maximum XPP drawdown since its inception was -89.90%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for XPP and BITI.
Loading charts...
Drawdown Indicators
| XPP | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.90% | -92.16% | +2.26% |
Max Drawdown (1Y)Largest decline over 1 year | -44.78% | -25.28% | -19.50% |
Max Drawdown (3Y)Largest decline over 3 years | -48.56% | -84.63% | +36.07% |
Max Drawdown (5Y)Largest decline over 5 years | -81.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.90% | — | — |
Current DrawdownCurrent decline from peak | -77.04% | -86.12% | +9.08% |
Average DrawdownAverage peak-to-trough decline | -48.11% | -68.59% | +20.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.55% | 10.35% | +11.20% |
Volatility
XPP vs. BITI - Volatility Comparison
ProShares Ultra FTSE China 50 (XPP) has a higher volatility of 10.66% compared to ProShares Short Bitcoin ETF (BITI) at 9.13%. This indicates that XPP's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XPP | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.66% | 9.13% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 29.57% | 33.31% | -3.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.39% | 44.23% | -3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.33% | 52.03% | +10.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.80% | 52.03% | +2.77% |
XPP vs. BITI - Expense Ratio Comparison
XPP has a 0.95% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
XPP vs. BITI - Dividend Comparison
XPP's dividend yield for the trailing twelve months is around 2.41%, less than BITI's 15.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% |
XPP ProShares Ultra FTSE China 50 | 2.41% | 2.32% | 2.96% | 2.87% | 0.00% | 0.00% | 0.00% | 3.81% | 1.47% |
Frequently Asked Questions
XPP and BITI have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XPP has higher volatility (10.66%) compared to BITI (9.13%). In terms of maximum drawdown, XPP dropped -89.90% vs BITI's -92.16%.
On 3-year performance, XPP leads with 4.02% vs -31.77% for BITI. On fees, XPP is cheaper at 0.95% per year. On volatility, BITI has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XPP has performed better with a 4.02% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XPP is cheaper with a 0.95% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 2.41% for XPP.
XPP is categorized as China Equities, while BITI is Cryptocurrency. XPP tracks FTSE/Xinhua China 25 Index (200%), while BITI tracks Bloomberg Bitcoin Index. Their fees differ too: 0.95% for XPP and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.45 vs -0.27), 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.
Find the right allocation for XPP and BITI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer