BETH vs. BTCZ

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ).

BETH and BTCZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BETH is an actively managed fund by ProShares. It was launched on Oct 2, 2023. BTCZ is an actively managed fund by T-Rex. It was launched on Jul 9, 2024.

Performance

BETH vs. BTCZ - Performance Comparison

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

BETH vs. BTCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-24.55%	-11.20%	42.98%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	29.93%	-29.11%	-76.58%

Returns By Period

In the year-to-date period, BETH achieves a -24.55% return, which is significantly lower than BTCZ's 29.93% return.

BETH

• 1D: 2.18%
• 1M: 3.69%
• YTD: -24.55%
• 6M: -43.76%
• 1Y: -17.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCZ

• 1D: -4.04%
• 1M: -11.35%
• YTD: 29.93%
• 6M: 93.66%
• 1Y: -16.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETH vs. BTCZ - Expense Ratio Comparison

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

BETH

ProShares Bitcoin & Ether Market Cap Weight Strategy ETF

BTCZ

T-Rex 2X Inverse Bitcoin Daily Target ETF

Return for Risk

BETH vs. BTCZ — Risk / Return Rank

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

BETH

BETH Risk / Return Rank: 7
BETH Sharpe Ratio Rank: 6
BETH Sortino Ratio Rank: 7
BETH Omega Ratio Rank: 7
BETH Calmar Ratio Rank: 6
BETH Martin Ratio Rank: 6

BTCZ

BTCZ Risk / Return Rank: 11
BTCZ Sharpe Ratio Rank: 8
BTCZ Sortino Ratio Rank: 15
BTCZ Omega Ratio Rank: 15
BTCZ Calmar Ratio Rank: 9
BTCZ Martin Ratio Rank: 10

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.

BETH vs. BTCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) 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.

	BETH	BTCZ	Difference
Sharpe ratio Return per unit of total volatility	-0.36	-0.18	-0.17
Sortino ratio Return per unit of downside risk	-0.21	0.36	-0.57
Omega ratio Gain probability vs. loss probability	0.98	1.04	-0.07
Calmar ratio Return relative to maximum drawdown	-0.36	-0.20	-0.15
Martin ratio Return relative to average drawdown	-0.76	-0.29	-0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BETH vs. BTCZ - Sharpe Ratio Comparison

The current BETH Sharpe Ratio is -0.36, which is lower than the BTCZ Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of BETH and BTCZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BETH	BTCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.36	-0.18	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	-0.59	+1.09

Correlation

The correlation between BETH and BTCZ is -0.99. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BETH vs. BTCZ - Dividend Comparison

BETH's dividend yield for the trailing twelve months is around 64.52%, more than BTCZ's 0.01% yield.

	TTM	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	63.22%	57.68%	19.71%	0.36%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%	0.00%

Drawdowns

BETH vs. BTCZ - Drawdown Comparison

The maximum BETH drawdown since its inception was -52.55%, smaller than the maximum BTCZ drawdown of -91.06%. Use the drawdown chart below to compare losses from any high point for BETH and BTCZ.

Drawdown Indicators

	BETH	BTCZ	Difference
Max Drawdown Largest peak-to-trough decline	-52.55%	-91.06%	+38.51%
Max Drawdown (1Y) Largest decline over 1 year	-52.55%	-68.27%	+15.72%
Current Drawdown Current decline from peak	-49.01%	-79.05%	+30.04%
Average Drawdown Average peak-to-trough decline	-15.76%	-72.74%	+56.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.71%	48.58%	-23.87%

Volatility

BETH vs. BTCZ - Volatility Comparison

The current volatility for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) is 13.84%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 26.53%. This indicates that BETH 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

	BETH	BTCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.84%	26.53%	-12.69%
Volatility (6M) Calculated over the trailing 6-month period	39.44%	73.35%	-33.91%
Volatility (1Y) Calculated over the trailing 1-year period	48.59%	90.77%	-42.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.15%	99.68%	-47.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.15%	99.68%	-47.53%