BITO vs. FSCO
BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares, while FSCO (FS Credit Opportunities Corp.) is a stock. Over the past 3 years, BITO returned 26.35%/yr vs 13.89%/yr for FSCO. At a 0.17 correlation, their price movements are largely independent.
Performance
BITO vs. FSCO - Performance Comparison
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Returns By Period
In the year-to-date period, BITO achieves a -28.44% return, which is significantly lower than FSCO's -19.22% return.
BITO
- 1D
- 0.12%
- 1M
- -20.38%
- YTD
- -28.44%
- 6M
- -30.74%
- 1Y
- -42.91%
- 3Y*
- 26.35%
- 5Y*
- —
- 10Y*
- —
FSCO
- 1D
- -1.64%
- 1M
- -5.14%
- YTD
- -19.22%
- 6M
- -17.27%
- 1Y
- -24.79%
- 3Y*
- 13.89%
- 5Y*
- —
- 10Y*
- —
BITO vs. FSCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | -28.44% | -11.19% | 104.45% | 137.33% | 6.65% |
FSCO FS Credit Opportunities Corp. | -19.22% | 3.68% | 34.88% | 36.98% | -3.98% |
Correlation
The correlation between BITO and FSCO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2022 | 0.17 |
The correlation between BITO and FSCO shifts across timeframes, from 0.17 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BITO vs. FSCO — Risk / Return Rank
BITO
FSCO
BITO vs. FSCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and FS Credit Opportunities Corp. (FSCO). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BITO | FSCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.84 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.70 | -0.11 |
| Martin ratioReturn relative to average drawdown | -1.42 | -1.41 | -0.01 |
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Drawdowns
BITO vs. FSCO - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, which is greater than FSCO's maximum drawdown of -35.53%. Use the drawdown chart below to compare losses from any high point for BITO and FSCO.
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Drawdown Indicators
| BITO | FSCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.86% | -35.53% | -42.33% |
Max Drawdown (1Y)Largest decline over 1 year | -53.10% | -35.53% | -17.57% |
Max Drawdown (3Y)Largest decline over 3 years | -53.10% | -35.53% | -17.57% |
Current DrawdownCurrent decline from peak | -50.64% | -29.47% | -21.17% |
Average DrawdownAverage peak-to-trough decline | -36.79% | -8.02% | -28.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.32% | 17.59% | +12.73% |
Volatility
BITO vs. FSCO - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 11.73% compared to FS Credit Opportunities Corp. (FSCO) at 5.86%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than FSCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITO | FSCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.73% | 5.86% | +5.87% |
Volatility (6M)Calculated over the trailing 6-month period | 34.20% | 22.49% | +11.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.88% | 27.31% | +16.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.07% | 28.22% | +26.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.07% | 28.22% | +26.85% |
Dividends
BITO vs. FSCO - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 69.59%, more than FSCO's 16.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 69.59% | 78.29% | 61.59% | 15.14% | 0.00% |
FSCO FS Credit Opportunities Corp. | 16.32% | 12.65% | 10.47% | 11.26% | 1.95% |
Frequently Asked Questions
BITO and FSCO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (11.73%) compared to FSCO (5.86%). In terms of maximum drawdown, BITO dropped -77.86% vs FSCO's -35.53%.
FSCO currently has the higher Sharpe Ratio (-0.91 vs -0.98), 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.
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