BITO vs. IQQQ

Last updated Jun 5, 2026

BITO (ProShares Bitcoin Strategy ETF) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - BITO is a Cryptocurrency fund actively managed by ProShares, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. BITO is actively managed, while IQQQ is passively managed. Over the past year, BITO returned -41.98% vs 37.81% for IQQQ. At a 0.44 correlation, their price movements are largely independent. BITO charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

BITO vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin Strategy ETF (BITO) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITO achieves a -28.44% return, which is significantly lower than IQQQ's 18.26% return.

BITO

• 1D: -2.81%
• 1M: -22.52%
• YTD: -28.44%
• 6M: -32.46%
• 1Y: -41.98%
• 3Y*: 26.82%
• 5Y*: —
• 10Y*: —

IQQQ

• 1D: -0.39%
• 1M: 8.01%
• YTD: 18.26%
• 6M: 16.96%
• 1Y: 37.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITO vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITO ProShares Bitcoin Strategy ETF	-28.44%	-11.19%	33.32%
IQQQ ProShares Nasdaq-100 High Income ETF	18.26%	17.11%	13.39%

Correlation

The correlation between BITO and IQQQ is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.44

The correlation between BITO and IQQQ has been stable across timeframes, ranging from 0.44 to 0.50 - a consistent structural relationship.

BITO vs. IQQQ - Sectors Allocation Comparison

Sectors	BITO	IQQQ
Financial Services	68.5%	0.2%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

BITO vs. IQQQ — 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

IQQQ

IQQQ Risk / Return Rank: 71
IQQQ Sharpe Ratio Rank: 77
IQQQ Sortino Ratio Rank: 72
IQQQ Omega Ratio Rank: 71
IQQQ Calmar Ratio Rank: 69
IQQQ Martin Ratio Rank: 67

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. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	2.47	-3.43
Sortino ratio: Return per unit of downside risk	-1.39	3.21	-4.60
Omega ratio: Gain probability vs. loss probability	0.84	1.42	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.83	3.41	-4.25
Martin ratio: Return relative to average drawdown	-1.44	12.12	-13.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITO vs. IQQQ - Sharpe Ratio Comparison

The current BITO Sharpe Ratio is -0.97, which is lower than the IQQQ Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of BITO and IQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITO	IQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.97	2.47	-3.43
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	1.23	-1.33

Drawdowns

BITO vs. IQQQ - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for BITO and IQQQ.

Drawdown Indicators

	BITO	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-77.86%	-20.41%	-57.45%
Max Drawdown (1Y) Largest decline over 1 year	-50.64%	-11.13%	-39.51%
Max Drawdown (3Y) Largest decline over 3 years	-50.64%	—	—
Current Drawdown Current decline from peak	-50.64%	-0.69%	-49.95%
Average Drawdown Average peak-to-trough decline	-36.75%	-3.63%	-33.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.27%	3.13%	+26.14%

Volatility

BITO vs. IQQQ - Volatility Comparison

ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 9.03% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 3.97%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITO	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	3.97%	+5.06%
Volatility (6M) Calculated over the trailing 6-month period	33.71%	11.52%	+22.19%
Volatility (1Y) Calculated over the trailing 1-year period	43.61%	15.39%	+28.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.10%	18.55%	+36.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.10%	18.55%	+36.55%

BITO vs. IQQQ - Expense Ratio Comparison

BITO has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

BITO vs. IQQQ - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 69.59%, more than IQQQ's 4.44% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	69.59%	78.29%	61.59%	15.14%
IQQQ ProShares Nasdaq-100 High Income ETF	4.44%	10.34%	7.27%	0.00%

Frequently Asked Questions

Can I hold both BITO and IQQQ in my portfolio?

BITO and IQQQ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITO or IQQQ?

BITO has higher volatility (9.03%) compared to IQQQ (3.97%). In terms of maximum drawdown, BITO dropped -77.86% vs IQQQ's -20.41%.

Which ETF is better, BITO or IQQQ?

On 1-year performance, IQQQ leads with 37.81% vs -41.98% for BITO. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITO or IQQQ?

Over the 1-year period, IQQQ has performed better with a 37.81% return vs -41.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITO or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for BITO.

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

BITO has the higher dividend yield at 69.59%, compared with 4.44% for IQQQ.

What is the main difference between BITO and IQQQ?

BITO is categorized as Cryptocurrency, while IQQQ is Nasdaq-100. Their fees differ too: 0.95% for BITO and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (2.47 vs -0.97), 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.