BABO vs. BITO

Last updated Jun 4, 2026

BABO (YieldMax BABA Option Income Strategy ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - BABO is a Derivative Income fund actively managed by YieldMax, while BITO is a Cryptocurrency fund actively managed by ProShares. Both are actively managed. Over the past year, BABO returned 8.62% vs -41.01% for BITO. At a 0.24 correlation, their price movements are largely independent. BABO charges 0.99%/yr vs 0.95%/yr for BITO.

Performance

BABO vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax BABA Option Income Strategy ETF (BABO) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BABO achieves a -12.48% return, which is significantly higher than BITO's -26.37% return.

BABO

• 1D: -1.54%
• 1M: -4.06%
• YTD: -12.48%
• 6M: -16.80%
• 1Y: 8.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITO

• 1D: -2.94%
• 1M: -18.61%
• YTD: -26.37%
• 6M: -30.81%
• 1Y: -41.01%
• 3Y*: 25.27%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BABO vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BABO YieldMax BABA Option Income Strategy ETF	-12.48%	46.84%	-0.08%
BITO ProShares Bitcoin Strategy ETF	-26.37%	-11.19%	52.37%

Correlation

The correlation between BABO and BITO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 9, 2024	0.24

Return for Risk

BABO vs. BITO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BABO

BABO Risk / Return Rank: 12
BABO Sharpe Ratio Rank: 12
BABO Sortino Ratio Rank: 14
BABO Omega Ratio Rank: 13
BABO Calmar Ratio Rank: 12
BABO Martin Ratio Rank: 12

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
BITO Sortino Ratio Rank: 2
BITO Omega Ratio Rank: 2
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BABO vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax BABA Option Income Strategy ETF (BABO) 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.

	BABO	BITO	Difference
Sharpe ratio: Return per unit of total volatility	0.25	-0.95	+1.19
Sortino ratio: Return per unit of downside risk	0.64	-1.35	+1.99
Omega ratio: Gain probability vs. loss probability	1.07	0.85	+0.22
Calmar ratio: Return relative to maximum drawdown	0.29	-0.82	+1.12
Martin ratio: Return relative to average drawdown	0.60	-1.41	+2.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BABO vs. BITO - Sharpe Ratio Comparison

The current BABO Sharpe Ratio is 0.25, which is higher than the BITO Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of BABO and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BABO	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.25	-0.95	+1.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	-0.09	+0.50

Drawdowns

BABO vs. BITO - Drawdown Comparison

The maximum BABO drawdown since its inception was -29.37%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BABO and BITO.

Drawdown Indicators

	BABO	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-29.37%	-77.86%	+48.49%
Max Drawdown (1Y) Largest decline over 1 year	-29.37%	-50.05%	+20.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-50.05%	—
Current Drawdown Current decline from peak	-26.47%	-49.22%	+22.75%
Average Drawdown Average peak-to-trough decline	-13.68%	-36.73%	+23.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.49%	29.09%	-14.60%

Volatility

BABO vs. BITO - Volatility Comparison

YieldMax BABA Option Income Strategy ETF (BABO) has a higher volatility of 12.03% compared to ProShares Bitcoin Strategy ETF (BITO) at 9.43%. This indicates that BABO'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.

Volatility by Period

	BABO	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.03%	9.43%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	24.11%	34.26%	-10.15%
Volatility (1Y) Calculated over the trailing 1-year period	35.12%	43.57%	-8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.77%	55.11%	-18.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.77%	55.11%	-18.34%

BABO vs. BITO - Expense Ratio Comparison

BABO has a 0.99% expense ratio, which is higher than BITO's 0.95% expense ratio.

Dividends

BABO vs. BITO - Dividend Comparison

BABO's dividend yield for the trailing twelve months is around 85.81%, more than BITO's 67.63% yield.

Position	TTM	2025	2024	2023
BABO YieldMax BABA Option Income Strategy ETF	85.81%	85.50%	20.65%	0.00%
BITO ProShares Bitcoin Strategy ETF	67.63%	78.29%	61.59%	15.14%

Frequently Asked Questions

Can I hold both BABO and BITO in my portfolio?

BABO and BITO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BABO or BITO?

BABO has higher volatility (12.03%) compared to BITO (9.43%). In terms of maximum drawdown, BABO dropped -29.37% vs BITO's -77.86%.

Which ETF is better, BABO or BITO?

On 1-year performance, BABO leads with 8.62% vs -41.01% for BITO. On fees, BITO is cheaper at 0.95% per year. On volatility, BITO has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BABO or BITO?

Over the 1-year period, BABO has performed better with a 8.62% return vs -41.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BABO or BITO?

BITO is cheaper with a 0.95% expense ratio, compared with 0.99% for BABO.

Which ETF pays a higher dividend yield, BABO or BITO?

BABO has the higher dividend yield at 85.81%, compared with 67.63% for BITO.

What is the main difference between BABO and BITO?

BABO is categorized as Derivative Income, while BITO is Cryptocurrency. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for BABO and 0.95% for BITO.

Which has better risk-adjusted returns?

BABO currently has the higher Sharpe Ratio (0.25 vs -0.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.