BITI vs. QLD
Compare and contrast key facts about ProShares Shrt Bitcoin ETF (BITI) and ProShares Ultra QQQ (QLD).
BITI and QLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITI is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index (-100%). It was launched on Jun 21, 2022. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. Both BITI and QLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BITI vs. QLD - Performance Comparison
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BITI vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 20.02% | -1.76% | -62.60% | -66.17% | -0.06% |
QLD ProShares Ultra QQQ | -11.23% | 30.36% | 42.82% | 117.72% | -15.99% |
Returns By Period
In the year-to-date period, BITI achieves a 20.02% return, which is significantly higher than QLD's -11.23% return.
BITI
- 1D
- -0.46%
- 1M
- 0.37%
- YTD
- 20.02%
- 6M
- 56.40%
- 1Y
- 10.94%
- 3Y*
- -34.13%
- 5Y*
- —
- 10Y*
- —
QLD
- 1D
- 2.44%
- 1M
- -8.26%
- YTD
- -11.23%
- 6M
- -9.73%
- 1Y
- 38.72%
- 3Y*
- 36.50%
- 5Y*
- 15.83%
- 10Y*
- 29.71%
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BITI vs. QLD - Expense Ratio Comparison
BITI has a 1.03% expense ratio, which is higher than QLD's 0.95% expense ratio.
Return for Risk
BITI vs. QLD — Risk / Return Rank
BITI
QLD
BITI vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Shrt Bitcoin ETF (BITI) and ProShares Ultra QQQ (QLD). 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.
| BITI | QLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.24 | 0.87 | -0.62 |
Sortino ratioReturn per unit of downside risk | 0.66 | 1.46 | -0.80 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.21 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.63 | -1.44 |
Martin ratioReturn relative to average drawdown | 0.29 | 5.27 | -4.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITI | QLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 0.87 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.36 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.75 | 0.53 | -1.28 |
Correlation
The correlation between BITI and QLD is -0.39. 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
BITI vs. QLD - Dividend Comparison
BITI's dividend yield for the trailing twelve months is around 8.23%, more than QLD's 0.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 8.23% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.19% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Drawdowns
BITI vs. QLD - Drawdown Comparison
The maximum BITI drawdown since its inception was -92.16%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for BITI and QLD.
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Drawdown Indicators
| BITI | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.16% | -83.13% | -9.03% |
Max Drawdown (1Y)Largest decline over 1 year | -39.64% | -25.13% | -14.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.68% | — |
Current DrawdownCurrent decline from peak | -86.90% | -18.15% | -68.75% |
Average DrawdownAverage peak-to-trough decline | -67.03% | -18.30% | -48.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.26% | 7.75% | +17.51% |
Volatility
BITI vs. QLD - Volatility Comparison
ProShares Shrt Bitcoin ETF (BITI) and ProShares Ultra QQQ (QLD) have volatilities of 13.04% and 13.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITI | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 13.16% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 36.32% | 25.67% | +10.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.20% | 44.97% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.18% | 44.76% | +8.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.18% | 44.47% | +8.71% |