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.
Performance
BITO vs. BTC-USD - Performance Comparison
Returns By Period
In the year-to-date period, BITO achieves a 121.67% return, which is significantly lower than BTC-USD's 131.34% return.
BITO
121.67%
44.82%
39.46%
140.99%
N/A
N/A
BTC-USD
131.34%
43.45%
41.16%
159.22%
68.75%
74.74%
Key characteristics
| BITO | BTC-USD | |
|---|---|---|
| Sharpe Ratio | 2.48 | 1.48 |
| Sortino Ratio | 2.98 | 2.20 |
| Omega Ratio | 1.35 | 1.22 |
| Calmar Ratio | 2.89 | 1.39 |
| Martin Ratio | 10.56 | 6.83 |
| Ulcer Index | 13.50% | 11.62% |
| Daily Std Dev | 57.56% | 44.10% |
| Max Drawdown | -77.86% | -93.07% |
| Current Drawdown | 0.00% | -1.23% |
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Correlation
The correlation between BITO and BTC-USD is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
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
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 18.45% compared to Bitcoin (BTC-USD) at 16.73%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.