XSW vs. SBIT
XSW (SPDR S&P Software & Services ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - XSW is a Technology Equities fund tracking the S&P Software & Services Select Industry Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, XSW returned 0.97% vs 98.77% for SBIT. Their -0.43 correlation means they have often moved in opposite directions in the past. XSW charges 0.35%/yr vs 0.95%/yr for SBIT.
Performance
XSW vs. SBIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XSW achieves a -2.35% return, which is significantly lower than SBIT's 39.44% return.
XSW
- 1D
- 0.60%
- 1M
- 3.56%
- 6M
- 9.30%
- YTD
- -2.35%
- 1Y
- 0.97%
- 3Y*
- 8.86%
- 5Y*
- 1.40%
- 10Y*
- 13.43%
- ALL TIME*
- 14.98%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $29.57M | $32.71M | $46.48M | |
| $8.95M | $8.27M | $10.07M |
XSW vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XSW SPDR S&P Software & Services ETF | -2.35% | -0.90% | 23.18% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between XSW and SBIT is -0.40, 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. | -0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.43 |
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
XSW vs. SBIT — Risk / Return Rank
XSW
SBIT
XSW vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) 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.
| XSW | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.23 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.35 | -2.41 |
| Martin ratioReturn relative to average drawdown | -0.13 | 5.19 | -5.32 |
Loading charts...
Drawdowns
XSW vs. SBIT - Drawdown Comparison
The maximum XSW drawdown since its inception was -45.38%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for XSW and SBIT.
Loading charts...
Drawdown Indicators
| XSW | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.38% | -91.35% | +45.97% |
Max Drawdown (1Y)Largest decline over 1 year | -33.75% | -47.94% | +14.19% |
Max Drawdown (3Y)Largest decline over 3 years | -33.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -45.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.38% | — | — |
Current DrawdownCurrent decline from peak | -10.96% | -77.87% | +66.91% |
Average DrawdownAverage peak-to-trough decline | -9.90% | -69.07% | +59.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.92% | 21.67% | -4.75% |
Volatility
XSW vs. SBIT - Volatility Comparison
The current volatility for SPDR S&P Software & Services ETF (XSW) is 8.03%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that XSW 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.
Loading charts...
Volatility by Period
| XSW | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.03% | 18.09% | -10.06% |
Volatility (6M)Calculated over the trailing 6-month period | 24.75% | 67.10% | -42.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.79% | 88.65% | -58.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.15% | 96.10% | -66.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.36% | 96.10% | -69.74% |
XSW vs. SBIT - Expense Ratio Comparison
XSW has a 0.35% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
XSW vs. SBIT - Dividend Comparison
XSW has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSW SPDR S&P Software & Services ETF | 0.00% | 0.06% | 0.07% | 0.20% | 0.09% | 0.13% | 0.26% | 0.12% | 0.31% | 0.46% | 0.87% | 0.54% |
Frequently Asked Questions
XSW and SBIT have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.09%) compared to XSW (8.03%). In terms of maximum drawdown, XSW dropped -45.38% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 0.97% for XSW. On fees, XSW is cheaper at 0.35% per year. On volatility, XSW has been the lower-risk option at 8.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSW is cheaper with a 0.35% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 0.00% for XSW.
XSW is categorized as Technology Equities, while SBIT is Cryptocurrency. XSW tracks S&P Software & Services Select Industry Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.35% for XSW and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs -0.08), 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 XSW and SBIT
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