BETH vs. BTCZ

Last updated Jun 5, 2026

BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) and BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BETH returned -41.18% vs 60.52% for BTCZ. At a correlation of -0.99, they often move in opposite directions. Both charge a 0.95% expense ratio.

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.

Returns By Period

In the year-to-date period, BETH achieves a -30.85% return, which is significantly lower than BTCZ's 39.90% return.

BETH

• 1D: -2.62%
• 1M: -22.99%
• YTD: -30.85%
• 6M: -34.87%
• 1Y: -41.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCZ

• 1D: 5.56%
• 1M: 60.49%
• YTD: 39.90%
• 6M: 53.41%
• 1Y: 60.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BETH vs. BTCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-30.85%	-11.20%	42.98%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	39.90%	-29.11%	-76.58%

Correlation

The correlation between BETH and BTCZ is -0.99, 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	-0.99
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024	-0.99

The correlation between BETH and BTCZ has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.

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: 2
BETH Sharpe Ratio Rank: 2
BETH Sortino Ratio Rank: 2
BETH Omega Ratio Rank: 3
BETH Calmar Ratio Rank: 2
BETH Martin Ratio Rank: 2

BTCZ

BTCZ Risk / Return Rank: 24
BTCZ Sharpe Ratio Rank: 21
BTCZ Sortino Ratio Rank: 27
BTCZ Omega Ratio Rank: 26
BTCZ Calmar Ratio Rank: 27
BTCZ Martin Ratio Rank: 21

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	-0.88	0.69	-1.58
Sortino ratio: Return per unit of downside risk	-1.22	1.45	-2.67
Omega ratio: Gain probability vs. loss probability	0.86	1.17	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.78	1.24	-2.02
Martin ratio: Return relative to average drawdown	-1.33	2.36	-3.69
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 -0.88, which is lower than the BTCZ Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of BETH 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.

Sharpe Ratios by Period

	BETH	BTCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.88	0.69	-1.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	-0.55	+0.94

Drawdowns

BETH vs. BTCZ - Drawdown Comparison

The maximum BETH drawdown since its inception was -53.27%, 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	-53.27%	-91.06%	+37.79%
Max Drawdown (1Y) Largest decline over 1 year	-53.27%	-49.02%	-4.25%
Current Drawdown Current decline from peak	-53.27%	-77.44%	+24.17%
Average Drawdown Average peak-to-trough decline	-17.65%	-73.73%	+56.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.89%	25.76%	+5.13%

Volatility

BETH vs. BTCZ - Volatility Comparison

The current volatility for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) is 9.18%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 17.24%. 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	9.18%	17.24%	-8.06%
Volatility (6M) Calculated over the trailing 6-month period	35.80%	67.20%	-31.40%
Volatility (1Y) Calculated over the trailing 1-year period	46.84%	87.54%	-40.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.17%	97.10%	-45.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.17%	97.10%	-45.93%

BETH vs. BTCZ - Expense Ratio Comparison

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

Dividends

BETH vs. BTCZ - Dividend Comparison

BETH's dividend yield for the trailing twelve months is around 59.10%, more than BTCZ's 0.01% yield.

Position	TTM	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	59.10%	57.68%	19.71%	0.36%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%	0.00%

Frequently Asked Questions

Can I hold both BETH and BTCZ in my portfolio?

BETH and BTCZ have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETH or BTCZ?

BTCZ has higher volatility (17.24%) compared to BETH (9.18%). In terms of maximum drawdown, BETH dropped -53.27% vs BTCZ's -91.06%.

Which ETF is better, BETH or BTCZ?

On 1-year performance, BTCZ leads with 60.52% vs -41.18% for BETH. Both ETFs have the same 0.95% expense ratio. On volatility, BETH has been the lower-risk option at 9.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETH or BTCZ?

Over the 1-year period, BTCZ has performed better with a 60.52% return vs -41.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETH or BTCZ?

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

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

BETH has the higher dividend yield at 59.10%, compared with 0.01% for BTCZ.

What is the main difference between BETH 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 (0.69 vs -0.88), 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.