XSOE vs. BITI
XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - XSOE is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, XSOE returned 18.47%/yr vs -30.65%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. XSOE charges 0.32%/yr vs 1.03%/yr for BITI.
Performance
XSOE vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, XSOE achieves a 19.08% return, which is significantly lower than BITI's 28.75% return.
XSOE
- 1D
- -3.45%
- 1M
- -4.00%
- 6M
- 12.89%
- YTD
- 19.08%
- 1Y
- 36.58%
- 3Y*
- 18.47%
- 5Y*
- 4.12%
- 10Y*
- 9.52%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
XSOE vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 19.08% | 30.05% | 7.02% | 10.28% | -5.15% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between XSOE and BITI is -0.44, 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 | -0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.35 |
The correlation between XSOE and BITI shifts across timeframes, from -0.44 (1 year) to -0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XSOE vs. BITI — Risk / Return Rank
XSOE
BITI
XSOE vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) 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.
| XSOE | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 2.72 | +0.04 |
| Martin ratioReturn relative to average drawdown | 9.42 | 6.78 | +2.65 |
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Drawdowns
XSOE vs. BITI - Drawdown Comparison
The maximum XSOE drawdown since its inception was -45.23%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for XSOE and BITI.
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Drawdown Indicators
| XSOE | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.23% | -92.16% | +46.93% |
Max Drawdown (1Y)Largest decline over 1 year | -13.31% | -25.28% | +11.97% |
Max Drawdown (3Y)Largest decline over 3 years | -19.96% | -84.63% | +64.67% |
Max Drawdown (5Y)Largest decline over 5 years | -40.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.23% | — | — |
Current DrawdownCurrent decline from peak | -9.09% | -85.94% | +76.85% |
Average DrawdownAverage peak-to-trough decline | -17.17% | -68.34% | +51.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 10.11% | -6.22% |
Volatility
XSOE vs. BITI - Volatility Comparison
WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) and ProShares Short Bitcoin ETF (BITI) have volatilities of 11.36% and 11.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSOE | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.36% | 11.38% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 21.46% | 34.25% | -12.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.43% | 44.14% | -20.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.20% | 52.28% | -32.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.86% | 52.28% | -31.42% |
XSOE vs. BITI - Expense Ratio Comparison
XSOE has a 0.32% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
XSOE vs. BITI - Dividend Comparison
XSOE's dividend yield for the trailing twelve months is around 1.64%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 1.64% | 1.50% | 1.44% | 1.78% | 2.53% | 1.36% | 1.02% | 2.01% | 1.56% | 0.65% | 1.43% | 3.93% |
Frequently Asked Questions
XSOE and BITI have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.38%) compared to XSOE (11.36%). In terms of maximum drawdown, XSOE dropped -45.23% vs BITI's -92.16%.
On 3-year performance, XSOE leads with 18.47% vs -30.65% for BITI. On fees, XSOE is cheaper at 0.32% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XSOE has performed better with a 18.47% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSOE is cheaper with a 0.32% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.10%, compared with 1.64% for XSOE.
XSOE is categorized as Emerging Markets Equities, while BITI is Cryptocurrency. XSOE tracks WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.32% for XSOE and 1.03% for BITI.
XSOE currently has the higher Sharpe Ratio (1.57 vs 1.56), 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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