BITO vs. BFOC

Last updated Jun 4, 2026

BITO (ProShares Bitcoin Strategy ETF) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - BITO is a Cryptocurrency fund actively managed by ProShares, while BFOC is a Defined Outcome fund actively managed by First Trust. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. BITO charges 0.95%/yr vs 0.90%/yr for BFOC.

Performance

BITO vs. BFOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin Strategy ETF (BITO) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITO achieves a -26.37% return, which is significantly lower than BFOC's -7.39% return.

BITO

• 1D: -2.94%
• 1M: -18.61%
• YTD: -26.37%
• 6M: -30.81%
• 1Y: -41.01%
• 3Y*: 25.27%
• 5Y*: —
• 10Y*: —

BFOC

• 1D: -0.24%
• 1M: -2.82%
• YTD: -7.39%
• 6M: -9.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITO vs. BFOC - Yearly Performance Comparison

	2026 (YTD)	2025
BITO ProShares Bitcoin Strategy ETF	-26.37%	-26.31%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-7.39%	-9.76%

Correlation

The correlation between BITO and BFOC is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.90

Return for Risk

BITO vs. BFOC — Risk / Return Rank

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

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
BITO Sortino Ratio Rank: 2
BITO Omega Ratio Rank: 2
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 2

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.

BITO vs. BFOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). 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.

	BITO	BFOC	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	—	—
Sortino ratio: Return per unit of downside risk	-1.35	—	—
Omega ratio: Gain probability vs. loss probability	0.85	—	—
Calmar ratio: Return relative to maximum drawdown	-0.82	—	—
Martin ratio: Return relative to average drawdown	-1.41	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BITO	BFOC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.95	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	-1.88	+1.79

Drawdowns

BITO vs. BFOC - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, which is greater than BFOC's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for BITO and BFOC.

Drawdown Indicators

	BITO	BFOC	Difference
Max Drawdown Largest peak-to-trough decline	-77.86%	-18.20%	-59.66%
Max Drawdown (1Y) Largest decline over 1 year	-50.05%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-50.05%	—	—
Current Drawdown Current decline from peak	-49.22%	-18.20%	-31.02%
Average Drawdown Average peak-to-trough decline	-36.73%	-12.52%	-24.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.09%	—	—

Volatility

Volatility by Period

	BITO	BFOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	34.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.57%	12.61%	+30.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.11%	12.61%	+42.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.11%	12.61%	+42.50%

BITO vs. BFOC - Expense Ratio Comparison

BITO has a 0.95% expense ratio, which is higher than BFOC's 0.90% expense ratio.

Dividends

BITO vs. BFOC - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 67.63%, while BFOC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	0.00%	0.00%	0.00%	0.00%
BITO ProShares Bitcoin Strategy ETF	67.63%	78.29%	61.59%	15.14%

Frequently Asked Questions

Can I hold both BITO and BFOC in my portfolio?

With a correlation of 0.90, BITO and BFOC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BITO or BFOC?

On fees, BFOC is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITO or BFOC?

BFOC is cheaper with a 0.90% expense ratio, compared with 0.95% for BITO.

Which ETF pays a higher dividend yield, BITO or BFOC?

BITO has the higher dividend yield at 67.63%, compared with 0.00% for BFOC.

What is the main difference between BITO and BFOC?

BITO is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.95% for BITO and 0.90% for BFOC.