XRPI vs. BITI

Last updated Jun 5, 2026

XRPI (Volatility Shares XRP ETF) and BITI (ProShares Shrt Bitcoin ETF) are both Cryptocurrency funds. XRPI is actively managed, while BITI is passively managed. Over the past year, XRPI returned -53.74% vs 47.79% for BITI. At a correlation of -0.83, they often move in opposite directions. XRPI charges 0.94%/yr vs 1.03%/yr for BITI.

Performance

XRPI vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares XRP ETF (XRPI) and ProShares Shrt Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XRPI achieves a -37.63% return, which is significantly lower than BITI's 27.41% return.

XRPI

• 1D: -2.34%
• 1M: -17.35%
• YTD: -37.63%
• 6M: -46.29%
• 1Y: -53.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITI

• 1D: 2.70%
• 1M: 27.75%
• YTD: 27.41%
• 6M: 34.37%
• 1Y: 47.79%
• 3Y*: -34.84%
• 5Y*: —
• 10Y*: —

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

XRPI vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025
XRPI Volatility Shares XRP ETF	-37.63%	-32.44%
BITI ProShares Shrt Bitcoin ETF	27.41%	23.18%

Correlation

The correlation between XRPI and BITI is -0.83, 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	-0.83
Correlation (All Time) Calculated using the full available price history since May 23, 2025	-0.83

The correlation between XRPI and BITI has been stable across timeframes, ranging from -0.83 to -0.83 - a consistent structural relationship.

Return for Risk

XRPI vs. BITI — Risk / Return Rank

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

XRPI

XRPI Risk / Return Rank: 3
XRPI Sharpe Ratio Rank: 3
XRPI Sortino Ratio Rank: 3
XRPI Omega Ratio Rank: 3
XRPI Calmar Ratio Rank: 3
XRPI Martin Ratio Rank: 3

BITI

BITI Risk / Return Rank: 32
BITI Sharpe Ratio Rank: 31
BITI Sortino Ratio Rank: 32
BITI Omega Ratio Rank: 30
BITI Calmar Ratio Rank: 39
BITI Martin Ratio Rank: 29

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.

XRPI vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares XRP ETF (XRPI) and ProShares Shrt 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.

	XRPI	BITI	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	1.10	-1.81
Sortino ratio: Return per unit of downside risk	-0.96	1.67	-2.63
Omega ratio: Gain probability vs. loss probability	0.89	1.20	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.76	1.90	-2.66
Martin ratio: Return relative to average drawdown	-1.16	4.06	-5.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XRPI vs. BITI - Sharpe Ratio Comparison

The current XRPI Sharpe Ratio is -0.71, which is lower than the BITI Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of XRPI 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.

Sharpe Ratios by Period

	XRPI	BITI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.71	1.10	-1.81
Sharpe Ratio (All Time) Calculated using the full available price history	-0.76	-0.71	-0.04

Drawdowns

XRPI vs. BITI - Drawdown Comparison

The maximum XRPI drawdown since its inception was -70.90%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for XRPI and BITI.

Drawdown Indicators

	XRPI	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-70.90%	-92.16%	+21.26%
Max Drawdown (1Y) Largest decline over 1 year	-70.90%	-25.28%	-45.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-70.90%	-86.09%	+15.19%
Average Drawdown Average peak-to-trough decline	-39.88%	-67.97%	+28.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.34%	11.80%	+34.54%

Volatility

XRPI vs. BITI - Volatility Comparison

Volatility Shares XRP ETF (XRPI) has a higher volatility of 13.78% compared to ProShares Shrt Bitcoin ETF (BITI) at 8.92%. This indicates that XRPI'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.

Volatility by Period

	XRPI	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.78%	8.92%	+4.86%
Volatility (6M) Calculated over the trailing 6-month period	51.07%	33.40%	+17.67%
Volatility (1Y) Calculated over the trailing 1-year period	75.88%	43.55%	+32.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.34%	52.50%	+22.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.34%	52.50%	+22.84%

XRPI vs. BITI - Expense Ratio Comparison

XRPI has a 0.94% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

XRPI vs. BITI - Dividend Comparison

XRPI's dividend yield for the trailing twelve months is around 3.80%, less than BITI's 9.27% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Shrt Bitcoin ETF	9.27%	1.60%	3.91%	3.33%	0.06%
XRPI Volatility Shares XRP ETF	3.80%	1.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XRPI and BITI in my portfolio?

XRPI and BITI have a correlation of -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XRPI or BITI?

XRPI has higher volatility (13.78%) compared to BITI (8.92%). In terms of maximum drawdown, XRPI dropped -70.90% vs BITI's -92.16%.

Which ETF is better, XRPI or BITI?

On 1-year performance, BITI leads with 47.79% vs -53.74% for XRPI. On fees, XRPI is cheaper at 0.94% per year. On volatility, BITI has been the lower-risk option at 8.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XRPI or BITI?

Over the 1-year period, BITI has performed better with a 47.79% return vs -53.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XRPI or BITI?

XRPI is cheaper with a 0.94% expense ratio, compared with 1.03% for BITI.

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

BITI has the higher dividend yield at 9.27%, compared with 3.80% for XRPI.

What is the main difference between XRPI and BITI?

They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 0.94% for XRPI and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.10 vs -0.71), 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.