ProShares - UltraShort Bitcoin ETF
$29.82+1.25 (+4.36%)
- Expense ratio
- 0.97%
- Fund size
- $133M
- 1Y return
- −1.1%
- Yield · Last 12 months
- 10.53%
- Holdings
- 5
- Volume · 30D
- 0.9M sh
- NAV per share
- $32.56
- 52W range
The ETF.net SBIT Grade
Score 65 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 79Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 21Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 37Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 71Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 56Category rank
Our read on SBIT
BBitcoin's downside, doubled. SBIT targets negative two times bitcoin's daily move, built by the shop that wrote the leveraged and inverse playbook, and priced below the typical fee in that corner of the market.
The fund targets returns equal to negative two times the daily performance of bitcoin.
Why people hold it
- The mandate leaves no room for interpretation: negative two times bitcoin's daily performance. No manager hunches, no stock picking, just a stated multiple against a single reference.proshares.com
- 0.97% a year, under the median fee for leveraged and inverse bear funds. Cheap matters doubly here, since these are tools you pay for while you hold them.
- Actively traded, which is the whole point for a vehicle designed around a one-day holding period. Getting out cleanly is part of the product.
- Sits in the top quartile of its inverse and leveraged peer group on cost and tradability, alongside ProShares' long-running short funds like PSQ and EUO.
Worth knowing
- The exposure resets every day. Hold for a week or a month and your result depends on the path bitcoin took, not just where it ended up, and can diverge widely from -2x.
- Two times inverse on bitcoin means bitcoin-scale volatility, amplified and flipped. Moves land fast in both directions.
- Launched in 2024, so the history available for judging its behavior is short and covers only one stretch of the crypto cycle.
SBIT Holdings
- Other
- 5
- 100%
- Net Other Assets (Liabilities)
SBIT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SBIT |
|---|---|
| Year to date | −31.4% |
| 1 month | −23.8% |
| 3 months | −50.0% |
| 1 year | −1.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SBIT |
|---|---|---|
| 2026 YTD | −31.4% | |
| 2025 | −25.1% | |
| 2024 | −73.1% |
SBIT in the news
ETF.net Research hasn’t filed on SBIT yet — coverage lands here as it’s written.
SBIT Dividends
- 10.53%
- $3.01
- $0.16 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 8, 2026 | $0.16 |
| Aug 3, 2026 | Aug 7, 2026 | $0.52 |
| Jul 1, 2026 | Jul 8, 2026 | $0.43 |
| Jun 1, 2026 | Jun 5, 2026 | $0.05 |
| May 1, 2026 | May 7, 2026 | $0.03 |
| Apr 1, 2026 | Apr 8, 2026 | $0.26 |
| Mar 2, 2026 | Mar 6, 2026 | $1.11 |
| Feb 2, 2026 | Feb 6, 2026 | $0.34 |
| Dec 24, 2025 | Dec 31, 2025 | $0.0052 |
| Dec 1, 2025 | Dec 5, 2025 | $0.02 |
| Nov 3, 2025 | Nov 7, 2025 | $0.04 |
| Oct 1, 2025 | Oct 7, 2025 | $0.04 |
SBIT Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 87.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.52
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −91.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −2.58
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SBIT Cost
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
10 of the 53 Leveraged Inverse (2x & Other) funds charge less.