BETE vs. BTCZ

Last updated Jul 17, 2026

BETE (Proshares Bitcoin & Ether Equal Weight Strategy ETF) and BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) are both Cryptocurrency funds. Over the past year, BETE returned -46.25% vs 99.85% for BTCZ. At a correlation of -0.93, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

BETE vs. BTCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETE achieves a -33.38% return, which is significantly lower than BTCZ's 29.81% return.

BETE

• 1D: -1.90%
• 1M: 1.02%
• 6M: -38.98%
• YTD: -33.38%
• 1Y: -46.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCZ

• 1D: 2.25%
• 1M: 1.30%
• 6M: 56.81%
• YTD: 29.81%
• 1Y: 99.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETE vs. BTCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	-33.38%	-8.17%	28.71%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	29.81%	-29.11%	-76.45%

Correlation

The correlation between BETE and BTCZ is -0.95, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.95
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	-0.93

The correlation between BETE and BTCZ has been stable across timeframes, ranging from -0.95 to -0.93 - a consistent structural relationship.

Return for Risk

BETE vs. BTCZ — Risk / Return Rank

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

BETE

BETE Risk / Return Rank: 3
BETE Sharpe Ratio Rank: 3
BETE Sortino Ratio Rank: 3
BETE Omega Ratio Rank: 3
BETE Calmar Ratio Rank: 3
BETE Martin Ratio Rank: 3

BTCZ

BTCZ Risk / Return Rank: 42
BTCZ Sharpe Ratio Rank: 39
BTCZ Sortino Ratio Rank: 44
BTCZ Omega Ratio Rank: 41
BTCZ Calmar Ratio Rank: 50
BTCZ Martin Ratio Rank: 37

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.

BETE vs. BTCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BETE	BTCZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	1.13	-1.97
Sortino ratio: Return per unit of downside risk	-1.16	1.84	-3.00
Omega ratio: Gain probability vs. loss probability	0.87	1.22	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.75	2.05	-2.80
Martin ratio: Return relative to average drawdown	-1.19	4.56	-5.75

BETE vs. BTCZ - Sharpe Ratio Comparison

The current BETE Sharpe Ratio is -0.84, which is lower than the BTCZ Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of BETE and BTCZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETE vs. BTCZ - Drawdown Comparison

The maximum BETE drawdown since its inception was -61.75%, smaller than the maximum BTCZ drawdown of -91.06%. Use the drawdown chart below to compare losses from any high point for BETE and BTCZ.

Drawdown Indicators

	BETE	BTCZ	Difference
Max Drawdown Largest peak-to-trough decline	-61.75%	-91.06%	+29.31%
Max Drawdown (1Y) Largest decline over 1 year	-61.75%	-49.02%	-12.73%
Current Drawdown Current decline from peak	-56.32%	-79.07%	+22.75%
Average Drawdown Average peak-to-trough decline	-22.93%	-73.79%	+50.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.91%	21.96%	+16.95%

Volatility

BETE vs. BTCZ - Volatility Comparison

The current volatility for Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) is 12.76%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 21.55%. This indicates that BETE experiences smaller price fluctuations and is considered to be less risky than BTCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETE	BTCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.76%	21.55%	-8.79%
Volatility (6M) Calculated over the trailing 6-month period	40.89%	69.11%	-28.22%
Volatility (1Y) Calculated over the trailing 1-year period	55.70%	88.88%	-33.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.32%	96.39%	-40.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.32%	96.39%	-40.07%

BETE vs. BTCZ - Expense Ratio Comparison

Both BETE and BTCZ have an expense ratio of 0.95%.

Dividends

BETE vs. BTCZ - Dividend Comparison

BETE's dividend yield for the trailing twelve months is around 78.32%, more than BTCZ's 0.01% yield.

Position	TTM	2025	2024	2023
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	78.32%	68.22%	15.22%	0.78%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%	0.00%

Frequently Asked Questions

Can I hold both BETE and BTCZ in my portfolio?

BETE and BTCZ have a correlation of -0.95, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETE or BTCZ?

BTCZ has higher volatility (21.55%) compared to BETE (12.76%). In terms of maximum drawdown, BETE dropped -61.75% vs BTCZ's -91.06%.

Which ETF is better, BETE or BTCZ?

On 1-year performance, BTCZ leads with 99.85% vs -46.25% for BETE. Both ETFs have the same 0.95% expense ratio. On volatility, BETE has been the lower-risk option at 12.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETE or BTCZ?

Over the 1-year period, BTCZ has performed better with a 99.85% return vs -46.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETE or BTCZ?

BETE and BTCZ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, BETE or BTCZ?

BETE has the higher dividend yield at 78.32%, compared with 0.01% for BTCZ.

What is the main difference between BETE and BTCZ?

They also come from different issuers: ProShares and T-Rex.

Which has better risk-adjusted returns?

BTCZ currently has the higher Sharpe Ratio (1.13 vs -0.84), 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.