ZSL vs. BITO
Compare and contrast key facts about ProShares UltraShort Silver (ZSL) and ProShares Bitcoin Strategy ETF (BITO).
ZSL and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSL is a passively managed fund by ProShares that tracks the performance of the Bloomberg Silver (-200%). It was launched on Dec 1, 2008. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
ZSL vs. BITO - Performance Comparison
Loading graphics...
ZSL vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZSL ProShares UltraShort Silver | -57.85% | -87.29% | -42.43% | -5.49% | -28.09% | 0.19% |
BITO ProShares Bitcoin Strategy ETF | -23.25% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Returns By Period
In the year-to-date period, ZSL achieves a -57.85% return, which is significantly lower than BITO's -23.25% return.
ZSL
- 1D
- -14.31%
- 1M
- 41.39%
- YTD
- -57.85%
- 6M
- -85.35%
- 1Y
- -92.33%
- 3Y*
- -68.82%
- 5Y*
- -53.86%
- 10Y*
- -44.59%
BITO
- 1D
- 1.75%
- 1M
- 2.92%
- YTD
- -23.25%
- 6M
- -41.96%
- 1Y
- -21.48%
- 3Y*
- 24.62%
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ZSL vs. BITO - Expense Ratio Comparison
ZSL has a 1.32% expense ratio, which is higher than BITO's 0.95% expense ratio.
Return for Risk
ZSL vs. BITO — Risk / Return Rank
ZSL
BITO
ZSL vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Silver (ZSL) and ProShares Bitcoin Strategy ETF (BITO). 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.
| ZSL | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.79 | -0.48 | -0.32 |
Sortino ratioReturn per unit of downside risk | -2.51 | -0.43 | -2.08 |
Omega ratioGain probability vs. loss probability | 0.73 | 0.95 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.46 | -0.50 |
Martin ratioReturn relative to average drawdown | -1.45 | -0.97 | -0.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ZSL | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.79 | -0.48 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.75 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.68 | -0.08 | -0.60 |
Correlation
The correlation between ZSL and BITO is -0.18. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
ZSL vs. BITO - Dividend Comparison
ZSL has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 84.71%.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZSL ProShares UltraShort Silver | 0.00% | 0.00% | 0.00% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 84.71% | 78.29% | 61.59% | 15.14% |
Drawdowns
ZSL vs. BITO - Drawdown Comparison
The maximum ZSL drawdown since its inception was -100.00%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for ZSL and BITO.
Loading graphics...
Drawdown Indicators
| ZSL | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -77.86% | -22.14% |
Max Drawdown (1Y)Largest decline over 1 year | -95.92% | -50.05% | -45.87% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.81% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -47.07% | -52.92% |
Average DrawdownAverage peak-to-trough decline | -96.35% | -36.56% | -59.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.73% | 23.55% | +40.18% |
Volatility
ZSL vs. BITO - Volatility Comparison
ProShares UltraShort Silver (ZSL) has a higher volatility of 37.36% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.89%. This indicates that ZSL's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| ZSL | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 37.36% | 12.89% | +24.47% |
Volatility (6M)Calculated over the trailing 6-month period | 104.15% | 36.69% | +67.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 116.32% | 45.35% | +70.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.42% | 55.79% | +16.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.24% | 55.79% | +8.45% |