Correlation
The correlation between BITI and TQQQ is -0.36. 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.
BITI vs. TQQQ
Compare and contrast key facts about ProShares Shrt Bitcoin ETF (BITI) and ProShares UltraPro QQQ (TQQQ).
BITI and TQQQ 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. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both BITI and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITI or TQQQ.
Performance
BITI vs. TQQQ - Performance Comparison
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Key characteristics
BITI:
-0.87
TQQQ:
0.13
BITI:
-1.18
TQQQ:
0.75
BITI:
0.86
TQQQ:
1.10
BITI:
-0.51
TQQQ:
0.20
BITI:
-1.26
TQQQ:
0.51
BITI:
36.49%
TQQQ:
22.44%
BITI:
53.53%
TQQQ:
76.06%
BITI:
-91.14%
TQQQ:
-81.66%
BITI:
-91.03%
TQQQ:
-23.48%
Returns By Period
In the year-to-date period, BITI achieves a -19.32% return, which is significantly lower than TQQQ's -10.09% return.
BITI
-19.32%
-13.19%
-22.07%
-46.37%
N/A
N/A
N/A
TQQQ
-10.09%
31.71%
-10.58%
10.01%
30.36%
29.99%
31.45%
Compare stocks, funds, or ETFs
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BITI vs. TQQQ - Expense Ratio Comparison
BITI has a 1.03% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
BITI vs. TQQQ — Risk-Adjusted Performance Rank
BITI
TQQQ
BITI vs. TQQQ - Risk-Adjusted Performance 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.
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Dividends
BITI vs. TQQQ - Dividend Comparison
BITI's dividend yield for the trailing twelve months is around 3.67%, more than TQQQ's 1.39% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Shrt Bitcoin ETF | 3.67% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 1.39% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% |
Drawdowns
BITI vs. TQQQ - Drawdown Comparison
The maximum BITI drawdown since its inception was -91.14%, 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.
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Volatility
BITI vs. TQQQ - Volatility Comparison
The current volatility for ProShares Shrt Bitcoin ETF (BITI) is 8.86%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 16.21%. 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.
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