BITO vs. BTC-USD
Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and Bitcoin (BTC-USD).
BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITO or BTC-USD.
Key characteristics
| BITO | BTC-USD | |
|---|---|---|
| YTD Return | 40.95% | 44.98% |
| 1Y Return | 85.26% | 101.58% |
| Sharpe Ratio | 1.78 | 3.71 |
| Daily Std Dev | 50.75% | 38.90% |
| Max Drawdown | -77.86% | -93.07% |
| Current Drawdown | -19.46% | -16.16% |
Correlation
The correlation between BITO and BTC-USD is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
BITO vs. BTC-USD - Performance Comparison
In the year-to-date period, BITO achieves a 40.95% return, which is significantly lower than BTC-USD's 44.98% 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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Risk-Adjusted Performance
BITO vs. BTC-USD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and Bitcoin (BTC-USD). 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.
Drawdowns
BITO vs. BTC-USD - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, smaller than the maximum BTC-USD drawdown of -93.07%. Use the drawdown chart below to compare losses from any high point for BITO and BTC-USD. For additional features, visit the drawdowns tool.
Volatility
BITO vs. BTC-USD - Volatility Comparison
The current volatility for ProShares Bitcoin Strategy ETF (BITO) is 18.89%, while Bitcoin (BTC-USD) has a volatility of 20.42%. This indicates that BITO experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.