BETE vs. IBIT

Last updated Jun 26, 2026

BETE (Proshares Bitcoin & Ether Equal Weight Strategy ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. Over the past year, BETE returned -41.25% vs -45.30% for IBIT. Their correlation of 0.93 suggests significant overlap in exposure. BETE charges 0.95%/yr vs 0.25%/yr for IBIT.

Performance

BETE vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETE achieves a -41.67% return, which is significantly lower than IBIT's -32.49% return.

BETE

• 1D: -1.16%
• 1M: -23.42%
• YTD: -41.67%
• 6M: -41.18%
• 1Y: -41.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -1.03%
• 1M: -22.03%
• YTD: -32.49%
• 6M: -32.23%
• 1Y: -45.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETE vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	-41.67%	-8.17%	54.12%
IBIT iShares Bitcoin Trust ETF	-32.49%	-6.41%	89.87%

Correlation

The correlation between BETE and IBIT is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.93

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

Return for Risk

BETE vs. IBIT — Risk / Return Rank

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

BETE

BETE Risk / Return Rank: 4
BETE Sharpe Ratio Rank: 4
BETE Sortino Ratio Rank: 4
BETE Omega Ratio Rank: 4
BETE Calmar Ratio Rank: 4
BETE Martin Ratio Rank: 4

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 1

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. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	-1.02	+0.28
Sortino ratio: Return per unit of downside risk	-0.94	-1.53	+0.60
Omega ratio: Gain probability vs. loss probability	0.90	0.83	+0.07
Calmar ratio: Return relative to maximum drawdown	-0.67	-0.86	+0.19
Martin ratio: Return relative to average drawdown	-1.14	-1.47	+0.33

BETE vs. IBIT - Sharpe Ratio Comparison

The current BETE Sharpe Ratio is -0.74, which is comparable to the IBIT Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of BETE and IBIT, 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. IBIT - Drawdown Comparison

The maximum BETE drawdown since its inception was -61.75%, which is greater than IBIT's maximum drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for BETE and IBIT.

Drawdown Indicators

	BETE	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-61.75%	-52.98%	-8.77%
Max Drawdown (1Y) Largest decline over 1 year	-61.75%	-52.98%	-8.77%
Current Drawdown Current decline from peak	-61.75%	-52.98%	-8.77%
Average Drawdown Average peak-to-trough decline	-22.21%	-16.97%	-5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.38%	30.94%	+5.44%

Volatility

BETE vs. IBIT - Volatility Comparison

Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) has a higher volatility of 16.09% compared to iShares Bitcoin Trust ETF (IBIT) at 13.43%. This indicates that BETE's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETE	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.09%	13.43%	+2.66%
Volatility (6M) Calculated over the trailing 6-month period	40.25%	34.60%	+5.65%
Volatility (1Y) Calculated over the trailing 1-year period	55.79%	44.41%	+11.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.57%	50.21%	+6.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.57%	50.21%	+6.36%

BETE vs. IBIT - Expense Ratio Comparison

BETE has a 0.95% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

BETE vs. IBIT - Dividend Comparison

BETE's dividend yield for the trailing twelve months is around 94.76%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF	94.76%	68.22%	15.22%	0.78%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BETE and IBIT in my portfolio?

With a correlation of 0.95, BETE and IBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BETE or IBIT?

BETE has higher volatility (16.09%) compared to IBIT (13.43%). In terms of maximum drawdown, BETE dropped -61.75% vs IBIT's -52.98%.

Which ETF is better, BETE or IBIT?

On 1-year performance, BETE leads with -41.25% vs -45.30% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 13.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETE or IBIT?

Over the 1-year period, BETE has performed better with a -41.25% return vs -45.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETE or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.95% for BETE.

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

BETE has the higher dividend yield at 94.76%, compared with 0.00% for IBIT.

What is the main difference between BETE and IBIT?

They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for BETE and 0.25% for IBIT.

Which has better risk-adjusted returns?

BETE currently has the higher Sharpe Ratio (-0.74 vs -1.02), 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.