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SBIT vs SVXY

ProShares UltraShort Bitcoin ETF

SBITCNYSE Arca

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

SBIT0.95%SVXY0.95%

Avg volume · 30D

SVXY 1.6×the volume

SBIT960KSVXY1.49M

SBIT vs SVXY Performance

Oct 31, 2025 – Oct 30, 2026

+24.0%SBIT+21.9%SVXY

Oct 31, 2025 to Oct 30, 2026. SBIT +24.0%. SVXY +21.9%. Use the arrow keys to read each point.50%75%100%125%150%Oct 2025Apr 2026Oct 2026
Expense ratio
SBIT 0.95%
SVXY 0.95%
Fund size
SBIT $125M
SVXY $201M
1Y total return
SBIT +24.0%, better
SVXY +21.9%
Yield (12M)
SBIT 8.49%
SVXY No data
Holdings
SBIT 1
SVXY 1
Avg volume (30D)
SBIT 960K sh
SVXY 1.49M sh, better
NAV per share
SBIT $35.70
SVXY $60.55
52W range

ETF.net Grade

SBIT: Cost 50, Risk 38, Mission 27, Tradability 72, Holdings not scored, Durability 56. SVXY: Cost 50, Risk 75, Mission not scored, Tradability 84, Holdings not scored, Durability 76.
Pillar letters and Scores for SBIT, SVXY, with each pillar’s weight
PillarSBITSVXY
Cost30% weightC50C50
Mission25% weightD27Not scored
Risk15% weightD38A75Higher
Tradability15% weightA72A84Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB56A76Higher

Rank among Leveraged Inverse (2x & Other) funds

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

Same Category. SBIT and SVXY are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

SVXY ranks 1st and SBIT 17th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 3BPSQProShares Short QQQScore 64
  4. Rank 15CSETHProShares Short Ether ETFScore 53
  5. Rank 17CSBITProShares UltraShort Bitcoin ETFScore 52
  6. Rank 17CSKFProShares UltraShort FinancialsScore 52

Our read on each fund

ETF.net Research

SBITCProShares UltraShort Bitcoin ETF

SVXYBProShares Short VIX Short-Term Futures ETF

In short

SBIT The original inverse-bitcoin geared ETF: SBIT launched in 2024 targeting -2x the daily move in bitcoin, built from futures and swaps rather than an actual short position, and reset every day.

SVXY Short volatility, half dose. SVXY targets one-half the inverse of a VIX short-term futures index each day, a deliberately de-tuned take on the short-vol trade, and it has run that mandate since 2011.

Stated mandate

SBIT The fund targets returns equal to negative two times the daily performance of bitcoin.

SVXY SVXY seeks daily results equal to one-half the inverse of the S&P 500 VIX Short-Term Futures Index. Its objective is measured daily, so returns over longer periods can differ from the stated daily target.

Why people hold it

  • SBIT First mover. ProShares launched SBIT in 2024 as the first ETF to target -2x daily bitcoin returns, debuting next to its 2x sibling.proshares.com
  • No margin account, no coin borrow, no wallet. The fund holds bitcoin futures and swaps, so the inverse exposure shows up in an ordinary brokerage account.proshares.comproshares.com 2
  • 0.95% a year, near the category norm for geared and inverse funds, with no waiver propping it up. It also trades actively, which helps on the way in and out.
  • Scores in the upper half of its inverse and leveraged peer group, a crowd where plenty of competitors are thinner and less traded.
  • SVXY The half-strength design is the whole idea: a -0.5x daily target rather than full inverse, so a jump in VIX futures lands with half the force of a one-for-one short.proshares.com
  • 0.95% a year sits below the typical leveraged and inverse fund, and among that crowd this is one of the stronger implementations in its peer group.
  • Launched in 2011 and actively traded, so it has a long operating history and a working market for getting in and out.

Worth knowing

  • SBIT The -2x target is a one-day target. Over longer stretches, daily resetting and compounding mean results can diverge from -2x bitcoin's move for the period.proshares.com
  • It does not short bitcoin itself. Exposure runs through futures and swaps, which adds counterparty and roll considerations on top of bitcoin's own price risk.proshares.comproshares.com 2
  • Doubling and flipping bitcoin's daily swings is a volatile ride, and ProShares frames these funds as short-holding-period tools meant to be monitored daily.proshares.com
  • SVXY The objective resets daily. Hold longer and compounding takes over, so results over weeks or months can look nothing like half the inverse of the index.proshares.com
  • It is a commodity pool holding VIX futures, not a basket of stocks. Reporting and tax treatment follow different rules than a standard equity ETF.proshares.com
  • Pure price vehicle with no distribution stream, and volatility spikes arrive fast, which is exactly what a short-vol position is on the wrong side of.

Full SBIT profile⁠

Full SVXY profile⁠

SBIT vs SVXY 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.

SBIT vs SVXY Cost

Same expense ratio

$17,869

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

  • SBIT 0.95%

    $17,869

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • SBIT 0.95%
  • SVXY 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SBIT $17,869SVXY $17,869

Year by year

YearSBITSVXY
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%SBIT
  • 0.95%SVXY
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

SBIT 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

SBIT vs SVXY Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SBIT 8.49%
SVXY No data
Payout (12M)
SBIT $3.03
SVXY None
Last payment
SBIT $0.06
SVXY No data
Ex-dividend
SBIT Oct 1, 2026
SVXY No data
Paid on
SBIT Oct 7, 2026
SVXY No data
Frequency
SBIT Monthly
SVXY No data

Distribution history

Per share, 2024 to 2026, same scale for both

SBITMonthly · 26 paymentsAll SBIT payments⁠
One bar per payment. 26 payments from 2024 to 2026 YTD. May 1, 2024 $0.14; Jun 3, 2024 $0.22; Jul 1, 2024 $0.16; Aug 1, 2024 $0.06; Sep 3, 2024 $0.0081; Dec 23, 2024 $0.0036; Feb 3, 2025 $0.0074; Mar 3, 2025 $0.01; Apr 1, 2025 $0.0022; Jun 2, 2025 $0.0048; Jul 1, 2025 $0.0099; Aug 1, 2025 $0.04; Sep 2, 2025 $0.05; Oct 1, 2025 $0.04; Nov 3, 2025 $0.04; Dec 1, 2025 $0.02; Dec 24, 2025 $0.0052; Feb 2, 2026 $0.34; Mar 2, 2026 $1.11; Apr 1, 2026 $0.26; May 1, 2026 $0.03; Jun 1, 2026 $0.05; Jul 1, 2026 $0.43; Aug 3, 2026 $0.52; Sep 1, 2026 $0.16; Oct 1, 2026 $0.06. Use the arrow keys to read each point.$0$12026YTD
SVXYAll SVXY payments⁠

No distribution history available.

SBIT vs SVXY Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SBIT 86.0%since May 2024SVXY 26.5%
Return per unit of riskSharpe ratio, 3 years
SBIT −0.49since May 2024SVXY 0.42
Worst fallMax drawdown, 5 years
SBIT −91.3%since Apr 2024SVXY −46.4%
Market sensitivityBeta, 5 years
SBIT −2.48SVXY 1.32

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