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BITI vs BNAV

ProShares Short Bitcoin ETF

BITICNYSE Arca

Amplify Fairlead Tactical Bitcoin ETF

BNAVCCboe

Overlap

Expense ratio

BNAV −0.28pt a year

BITI1.02%BNAV0.74%

Avg volume · 30D

BITI 287.2×the volume

BITI1.35MBNAV4.7K

BITI vs BNAV Performance

Jul 31, 2026 – Oct 30, 2026

−19.4%BITI+21.6%BNAV

Jul 31, 2026 to Oct 30, 2026. BITI −19.4%. BNAV +21.6%. Use the arrow keys to read each point.−30%−10%0%10%30%Jul 2026Sep 2026Oct 2026
Expense ratio
BITI 1.02%
BNAV 0.74%, better
Fund size
BITI $73M
BNAV $3M
1Y total return
BITI +25.9%
BNAV No data
Yield (12M)
BITI 29.08%
BNAV No data
Holdings
BITI 3
BNAV 4
Avg volume (30D)
BITI 1.35M sh, better
BNAV 4.7K sh
NAV per share
BITI $19.17
BNAV $30.30
52W range

ETF.net Grade

BITI: Cost 22, Risk 39, Mission not scored, Tradability 79, Holdings 50, Durability 81. BNAV: Cost 70, Risk 85, Mission not scored, Tradability 49, Holdings 65, Durability 36.
Pillar letters and Scores for BITI, BNAV, with each pillar’s weight
PillarBITIBNAV
Cost30% weightF22A70Higher
Mission25% weightNot scoredNot scored
Risk15% weightD39A85Higher
Tradability15% weightA79HigherC49
Holdings10% weightC50B65Higher
Durability5% weightA81HigherD36

Rank among Bitcoin Derivatives funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BITI and BNAV are both graded against the same 6 Bitcoin Derivatives funds, so their Grades compare head to head.

Bitcoin Derivatives⁠

Category · 6 funds
See all 6 ›

BITI ranks 2nd and BNAV 3rd of 6 funds in the Bitcoin Derivatives Category.

  1. Rank 1BBITOProShares Bitcoin ETFScore 56
  2. Rank 2CBITIProShares Short Bitcoin ETFScore 44
  3. Rank 3CBNAVAmplify Fairlead Tactical Bitcoin ETFScore 40
  4. Rank 4DNGHTNicholas Bitcoin and Treasuries AfterDark ETFScore 35

Our read on each fund

ETF.net Research

BITICProShares Short Bitcoin ETF

BNAVCAmplify Fairlead Tactical Bitcoin ETF

In short

BITI The original US short-bitcoin fund. Live since 2022, BITI targets -1x the daily move of the Bloomberg Bitcoin Index without directly shorting any coin, and it resets every day. Cost: 1.02% a year, above the category norm.

BNAV No data

Stated mandate

BITI The Fund seeks daily results, before fees and expenses, that correspond to the inverse of the daily performance of the Bloomberg Bitcoin Index.

BNAV No data

Why people hold it

  • BITI The first US ETF built to go short bitcoin, trading since 2022, so there is a multi-year public record behind the mechanism rather than a brand-new launch.businesswire.com
  • Short exposure inside an ordinary brokerage account: no margin agreement, no coin borrow, no wallet. The fund uses derivatives and does not directly short bitcoin.proshares.comproshares.com 2
  • Actively traded for an inverse crypto product, and it stands in the upper half of its bitcoin-derivatives peer group.
  • The collateral behind the position throws off income: the fund intends to distribute income, if any, monthly, and capital gains at least annually.sec.gov

BNAV No data

Worth knowing

  • BITI Daily reset. Over longer stretches the result is each day's return compounded, which can differ in size and even direction from -1x the index over that same span.sec.gov
  • The prospectus is blunt about the edges: a flat index over time still loses money here, and the full value of an investment can be lost within a single day.sec.govproshares.com
  • At 1.02% a year it costs above the typical fund in its category, and more than its long-side sibling BITO at 0.95%.

BNAV No data

Full BITI profile⁠

Full BNAV profile⁠

BITI vs BNAV Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BITI vs BNAV Cost

Overpaying BITI vs BNAV

$4,705

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BITI 1.02%

    $19,012

  • BNAV 0.74%

    $14,307

$10,000
30 years

Cost over time

  • BITI 1.02%
  • BNAV 0.74%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BITI $19,012BNAV $14,307

Year by year

YearBITIBNAVOverpaying
10$1,797$1,319$478
20$6,746$5,015$1,731
30$19,012$14,307$4,705

Expense ratio

  • 1.02%BITI
  • 0.74%BNAV, cheaper
  • Middle half of Bitcoin Derivatives funds
  • Median 0.96%

BNAV 2nd cheapest of 6 funds

BITI 5th cheapest of 6 funds

BITI vs BNAV Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BITI 29.08%
BNAV No data
Payout (12M)
BITI $5.57
BNAV None
Last payment
BITI $0.04
BNAV No data
Ex-dividend
BITI Oct 1, 2026
BNAV No data
Paid on
BITI Oct 7, 2026
BNAV No data
Frequency
BITI Monthly
BNAV No data

Distribution history

Per share, 2023 to 2026, same scale for both

BITIMonthly · 45 paymentsAll BITI payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.07; Mar 1, 2023 $0.04; Apr 3, 2023 $0.05; May 1, 2023 $0.14; Jun 1, 2023 $0.33; Jul 3, 2023 $0.26; Aug 1, 2023 $0.23; Sep 1, 2023 $0.29; Oct 2, 2023 $0.23; Nov 1, 2023 $0.17; Dec 1, 2023 $0.20; Dec 20, 2023 $0.19; Feb 1, 2024 $0.09; Mar 1, 2024 $0.09; Apr 1, 2024 $0.08; May 1, 2024 $0.10; Jun 3, 2024 $0.10; Jul 1, 2024 $0.08; Aug 1, 2024 $0.10; Sep 3, 2024 $0.09; Oct 1, 2024 $0.07; Nov 1, 2024 $0.06; Dec 2, 2024 $0.03; Dec 23, 2024 $0.05; Feb 3, 2025 $0.03; Mar 3, 2025 $0.03; Apr 1, 2025 $0.04; May 1, 2025 $0.03; Jun 2, 2025 $0.03; Jul 1, 2025 $0.03; Aug 1, 2025 $0.03; Sep 2, 2025 $0.03; Oct 1, 2025 $0.03; Nov 3, 2025 $0.02; Dec 1, 2025 $0.02; Dec 24, 2025 $0.04; Feb 2, 2026 $0.31; Mar 2, 2026 $0.95; Apr 1, 2026 $0.59; May 1, 2026 $0.20; Jun 1, 2026 $0.24; Jul 1, 2026 $1.45; Aug 3, 2026 $1.33; Sep 1, 2026 $0.38; Oct 1, 2026 $0.04. Use the arrow keys to read each point.$0$120232026YTD
BNAVAll BNAV payments⁠

No distribution history available.

BITI vs BNAV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BITI 46.4%BNAV No data
Return per unit of riskSharpe ratio, 3 years
BITI −0.69BNAV No data
Worst fallMax drawdown, 5 years
BITI −92.2%since Jun 2022BNAV No data
Market sensitivityBeta, 5 years
BITI −1.41BNAV 0.00

BITI and BNAV in the news

All news⁠

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