SBIT vs SPY
ProShares UltraShort Bitcoin ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SBIT delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SBIT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.97% | 0.09% | |
| AUM | $156M | $789.1B | |
| Dividend Yield | 2.87% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +36.60% | +13.79% | |
| 1Y Return | +100.42% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 84.4% | 15.3% | |
| Max Drawdown | -91.3% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Apr 2, 2024 | Jan 22, 1993 |
SBIT vs SPY Performance
ProShares UltraShort Bitcoin ETF (SBIT) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SBIT returned +100.42% while SPY returned +23.66%. Year to date, SBIT is up 36.60% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SBIT has been the more volatile fund, with annualized monthly volatility of 84.4% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -91.3% for SBIT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SBIT charges 0.97% per year while SPY charges 0.09%. On a $10,000 position that is $97 vs $9 annually, a gap of $88 per year that compounds over a long holding period. On income, SBIT currently yields 2.87% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, SBIT or SPY?
SBIT has an expense ratio of 0.97% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $88 per year of difference.
Which performed better, SBIT or SPY?
Over the past year SBIT returned +100.42% vs +23.66% for SPY, so SBIT leads on 1-year performance. Over the longest common window we track (2 years), SBIT annualized -43.63% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SBIT or SPY?
SBIT has been the more volatile fund at 84.4% annualized versus 15.3% for SPY. Worst drawdown: SBIT -91.3% vs SPY -56.5%.
Should I hold both SBIT and SPY?
SBIT and SPY have a monthly-return correlation of -0.36, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SBIT or SPY?
SBIT yields 2.87% while SPY yields 1.01%, so SBIT currently pays the higher dividend yield.
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