ZIG vs. BITI

Last updated Jul 18, 2026

ZIG (Acquirers Fund) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - ZIG is a Large Cap Blend Equities fund tracking the Acquirer's Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, ZIG returned 9.31%/yr vs -31.71%/yr for BITI. At a correlation of -0.34, they often move in opposite directions. ZIG charges 1.85%/yr vs 1.03%/yr for BITI.

Performance

ZIG vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Acquirers Fund (ZIG) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZIG achieves a 9.16% return, which is significantly lower than BITI's 24.73% return.

ZIG

• 1D: -0.50%
• 1M: 1.51%
• 6M: 2.65%
• YTD: 9.16%
• 1Y: 9.84%
• 3Y*: 9.31%
• 5Y*: 9.08%
• 10Y*: —

BITI

• 1D: 0.20%
• 1M: -0.52%
• 6M: 36.51%
• YTD: 24.73%
• 1Y: 64.56%
• 3Y*: -31.71%
• 5Y*: —
• 10Y*: —

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

ZIG vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ZIG Acquirers Fund	9.16%	-2.67%	11.34%	36.70%	6.54%
BITI ProShares Short Bitcoin ETF	24.73%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between ZIG and BITI is -0.24, 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	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	-0.30
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.34

Return for Risk

ZIG vs. BITI — Risk / Return Rank

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

ZIG

ZIG Risk / Return Rank: 22
ZIG Sharpe Ratio Rank: 21
ZIG Sortino Ratio Rank: 23
ZIG Omega Ratio Rank: 20
ZIG Calmar Ratio Rank: 22
ZIG Martin Ratio Rank: 24

BITI

BITI Risk / Return Rank: 53
BITI Sharpe Ratio Rank: 54
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 65
BITI Martin Ratio Rank: 48

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.

ZIG vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Acquirers Fund (ZIG) 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.

	ZIG	BITI	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.47	-0.89
Sortino ratio: Return per unit of downside risk	1.03	2.04	-1.01
Omega ratio: Gain probability vs. loss probability	1.11	1.25	-0.13
Calmar ratio: Return relative to maximum drawdown	0.80	2.57	-1.77
Martin ratio: Return relative to average drawdown	2.36	6.36	-4.01

ZIG vs. BITI - Sharpe Ratio Comparison

The current ZIG Sharpe Ratio is 0.58, which is lower than the BITI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of ZIG 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.

Drawdowns

ZIG vs. BITI - Drawdown Comparison

The maximum ZIG drawdown since its inception was -37.14%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for ZIG and BITI.

Drawdown Indicators

	ZIG	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-37.14%	-92.16%	+55.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.38%	-25.28%	+12.90%
Max Drawdown (3Y) Largest decline over 3 years	-29.75%	-84.63%	+54.88%
Max Drawdown (5Y) Largest decline over 5 years	-29.75%	—	—
Current Drawdown Current decline from peak	-5.21%	-86.38%	+81.17%
Average Drawdown Average peak-to-trough decline	-9.68%	-68.42%	+58.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	10.18%	-5.99%

Volatility

ZIG vs. BITI - Volatility Comparison

The current volatility for Acquirers Fund (ZIG) is 3.48%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 10.69%. This indicates that ZIG experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZIG	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	10.69%	-7.21%
Volatility (6M) Calculated over the trailing 6-month period	9.27%	34.09%	-24.82%
Volatility (1Y) Calculated over the trailing 1-year period	17.13%	44.07%	-26.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	52.21%	-31.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.01%	52.21%	-30.20%

ZIG vs. BITI - Expense Ratio Comparison

ZIG has a 1.85% expense ratio, which is higher than BITI's 1.03% expense ratio.

Dividends

ZIG vs. BITI - Dividend Comparison

ZIG's dividend yield for the trailing twelve months is around 1.75%, less than BITI's 15.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BITI ProShares Short Bitcoin ETF	15.59%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%
ZIG Acquirers Fund	1.75%	1.91%	1.96%	1.07%	1.26%	0.18%	0.18%

Frequently Asked Questions

Can I hold both ZIG and BITI in my portfolio?

ZIG and BITI have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZIG or BITI?

BITI has higher volatility (10.69%) compared to ZIG (3.48%). In terms of maximum drawdown, ZIG dropped -37.14% vs BITI's -92.16%.

Which ETF is better, ZIG or BITI?

On 3-year performance, ZIG leads with 9.31% vs -31.71% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, ZIG has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZIG or BITI?

Over the 3-year period, ZIG has performed better with a 9.31% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZIG or BITI?

BITI is cheaper with a 1.03% expense ratio, compared with 1.85% for ZIG.

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

BITI has the higher dividend yield at 15.59%, compared with 1.75% for ZIG.

What is the main difference between ZIG and BITI?

ZIG is categorized as Large Cap Blend Equities, while BITI is Cryptocurrency. ZIG tracks Acquirer's Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Acquirers Funds and ProShares. Their fees differ too: 1.85% for ZIG and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.47 vs 0.58), 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.