BITI vs. TQQQ

Last updated Jun 4, 2026

BITI (ProShares Shrt Bitcoin ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-100%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 3 years, BITI returned -34.09%/yr vs 69.49%/yr for TQQQ. At a correlation of -0.39, they often move in opposite directions. BITI charges 1.03%/yr vs 0.95%/yr for TQQQ.

Performance

BITI vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Shrt Bitcoin ETF (BITI) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITI achieves a 24.06% return, which is significantly lower than TQQQ's 64.46% return.

BITI

• 1D: 2.69%
• 1M: 22.00%
• YTD: 24.06%
• 6M: 31.50%
• 1Y: 45.79%
• 3Y*: -34.09%
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

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

BITI vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BITI ProShares Shrt Bitcoin ETF	24.06%	-1.76%	-62.60%	-66.17%	-0.06%
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-28.67%

Correlation

The correlation between BITI and TQQQ is -0.49, 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	-0.49
Correlation (3Y) Calculated over the trailing 3-year period	-0.35
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022	-0.39

The correlation between BITI and TQQQ shifts across timeframes, from -0.49 (1 year) to -0.35 (3 years), reflecting how their relationship changes across market environments.

BITI vs. TQQQ - Sectors Allocation Comparison

Sectors	BITI	TQQQ
Financial Services	28.5%	0.2%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

BITI vs. TQQQ — Risk / Return Rank

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

BITI

BITI Risk / Return Rank: 30
BITI Sharpe Ratio Rank: 29
BITI Sortino Ratio Rank: 30
BITI Omega Ratio Rank: 28
BITI Calmar Ratio Rank: 36
BITI Martin Ratio Rank: 27

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

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.

BITI vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Shrt Bitcoin ETF (BITI) and ProShares UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.06	2.92	-1.86
Sortino ratio: Return per unit of downside risk	1.62	3.09	-1.47
Omega ratio: Gain probability vs. loss probability	1.19	1.40	-0.21
Calmar ratio: Return relative to maximum drawdown	1.82	3.75	-1.93
Martin ratio: Return relative to average drawdown	3.89	12.27	-8.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITI vs. TQQQ - Sharpe Ratio Comparison

The current BITI Sharpe Ratio is 1.06, which is lower than the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of BITI and TQQQ, 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

	BITI	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	2.92	-1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.72	0.74	-1.46

Drawdowns

BITI vs. TQQQ - Drawdown Comparison

The maximum BITI drawdown since its inception was -92.16%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for BITI and TQQQ.

Drawdown Indicators

	BITI	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-92.16%	-81.66%	-10.50%
Max Drawdown (1Y) Largest decline over 1 year	-25.28%	-36.97%	+11.69%
Max Drawdown (3Y) Largest decline over 3 years	-84.63%	-58.04%	-26.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-86.46%	-0.76%	-85.70%
Average Drawdown Average peak-to-trough decline	-67.95%	-18.52%	-49.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.80%	11.28%	+0.52%

Volatility

BITI vs. TQQQ - Volatility Comparison

The current volatility for ProShares Shrt Bitcoin ETF (BITI) is 9.29%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.29%. This indicates that BITI experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITI	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.29%	13.29%	-4.00%
Volatility (6M) Calculated over the trailing 6-month period	34.02%	36.04%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	43.52%	47.60%	-4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.50%	66.53%	-14.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.50%	65.96%	-13.46%

BITI vs. TQQQ - Expense Ratio Comparison

BITI has a 1.03% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

BITI vs. TQQQ - Dividend Comparison

BITI's dividend yield for the trailing twelve months is around 9.52%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITI ProShares Shrt Bitcoin ETF	9.52%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both BITI and TQQQ in my portfolio?

BITI and TQQQ have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITI or TQQQ?

TQQQ has higher volatility (13.29%) compared to BITI (9.29%). In terms of maximum drawdown, BITI dropped -92.16% vs TQQQ's -81.66%.

Which ETF is better, BITI or TQQQ?

On 3-year performance, TQQQ leads with 69.49% vs -34.09% for BITI. On fees, TQQQ is cheaper at 0.95% per year. On volatility, BITI has been the lower-risk option at 9.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITI or TQQQ?

Over the 3-year period, TQQQ has performed better with a 69.49% return vs -34.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITI or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, BITI or TQQQ?

BITI has the higher dividend yield at 9.52%, compared with 0.36% for TQQQ.

What is the main difference between BITI and TQQQ?

BITI is categorized as Cryptocurrency, while TQQQ is Leveraged Equities. BITI tracks Bloomberg Bitcoin Index (-100%), while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 1.03% for BITI and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 1.06), 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.