BITC vs. UPRO
Compare and contrast key facts about Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and ProShares UltraPro S&P 500 (UPRO).
BITC and UPRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITC is an actively managed fund by Bitwise. It was launched on Mar 20, 2023. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITC or UPRO.
Key characteristics
| BITC | UPRO | |
|---|---|---|
| YTD Return | 68.84% | 76.25% |
| 1Y Return | 89.88% | 129.67% |
| Sharpe Ratio | 1.68 | 3.36 |
| Sortino Ratio | 2.30 | 3.60 |
| Omega Ratio | 1.27 | 1.50 |
| Calmar Ratio | 3.04 | 2.75 |
| Martin Ratio | 6.51 | 20.54 |
| Ulcer Index | 14.60% | 6.03% |
| Daily Std Dev | 56.60% | 36.85% |
| Max Drawdown | -31.26% | -76.82% |
| Current Drawdown | -2.24% | 0.00% |
Correlation
The correlation between BITC and UPRO is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BITC vs. UPRO - Performance Comparison
In the year-to-date period, BITC achieves a 68.84% return, which is significantly lower than UPRO's 76.25% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BITC vs. UPRO - Expense Ratio Comparison
BITC has a 0.88% expense ratio, which is lower than UPRO's 0.92% expense ratio.
Risk-Adjusted Performance
BITC vs. UPRO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and ProShares UltraPro S&P 500 (UPRO). 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.
Dividends
BITC vs. UPRO - Dividend Comparison
BITC's dividend yield for the trailing twelve months is around 3.35%, more than UPRO's 0.72% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.35% | 5.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UPRO ProShares UltraPro S&P 500 | 0.72% | 0.74% | 0.52% | 0.06% | 0.11% | 0.53% | 0.63% | 0.00% | 0.12% | 0.34% | 0.22% | 0.07% |
Drawdowns
BITC vs. UPRO - Drawdown Comparison
The maximum BITC drawdown since its inception was -31.26%, smaller than the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for BITC and UPRO. For additional features, visit the drawdowns tool.
Volatility
BITC vs. UPRO - Volatility Comparison
Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) has a higher volatility of 14.70% compared to ProShares UltraPro S&P 500 (UPRO) at 11.82%. This indicates that BITC's price experiences larger fluctuations and is considered to be riskier than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.