BITO vs. QQQ

Last updated Jun 23, 2026

BITO (ProShares Bitcoin Strategy ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - BITO is a Cryptocurrency fund actively managed by ProShares, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. BITO is actively managed, while QQQ is passively managed. Over the past 3 years, BITO returned 19.33%/yr vs 27.47%/yr for QQQ. At a 0.43 correlation, their price movements are largely independent. BITO charges 0.95%/yr vs 0.18%/yr for QQQ.

Performance

BITO vs. QQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, BITO achieves a -27.53% return, which is significantly lower than QQQ's 20.41% return.

BITO

• 1D: 2.34%
• 1M: -15.24%
• YTD: -27.53%
• 6M: -28.30%
• 1Y: -40.14%
• 3Y*: 19.33%
• 5Y*: —
• 10Y*: —

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

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

BITO vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BITO ProShares Bitcoin Strategy ETF	-27.53%	-11.19%	104.45%	137.33%	-63.91%	-29.31%
QQQ Invesco QQQ ETF	20.41%	20.77%	25.58%	54.86%	-32.58%	6.90%

Correlation

The correlation between BITO and QQQ is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021	0.43

The correlation between BITO and QQQ shifts across timeframes, from 0.37 (3 years) to 0.50 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BITO vs. QQQ — 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: 3
BITO Martin Ratio Rank: 2

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
QQQ Martin Ratio Rank: 71

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	2.33	-3.25
Sortino ratio: Return per unit of downside risk	-1.29	3.03	-4.31
Omega ratio: Gain probability vs. loss probability	0.86	1.41	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.76	3.44	-4.19
Martin ratio: Return relative to average drawdown	-1.29	12.79	-14.08

BITO vs. QQQ - Sharpe Ratio Comparison

The current BITO Sharpe Ratio is -0.92, which is lower than the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of BITO and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BITO vs. QQQ - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for BITO and QQQ.

Drawdown Indicators

	BITO	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-77.86%	-82.97%	+5.11%
Max Drawdown (1Y) Largest decline over 1 year	-53.10%	-11.96%	-41.14%
Max Drawdown (3Y) Largest decline over 3 years	-53.10%	-22.77%	-30.33%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-50.02%	-0.99%	-49.03%
Average Drawdown Average peak-to-trough decline	-36.85%	-32.73%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.11%	3.21%	+27.90%

Volatility

BITO vs. QQQ - Volatility Comparison

ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 12.60% compared to Invesco QQQ ETF (QQQ) at 8.47%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITO	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.60%	8.47%	+4.13%
Volatility (6M) Calculated over the trailing 6-month period	34.26%	14.20%	+20.06%
Volatility (1Y) Calculated over the trailing 1-year period	44.05%	17.67%	+26.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.02%	22.64%	+32.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.02%	22.43%	+32.59%

BITO vs. QQQ - Expense Ratio Comparison

BITO has a 0.95% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

BITO vs. QQQ - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 68.72%, more than QQQ's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITO ProShares Bitcoin Strategy ETF	68.72%	78.29%	61.59%	15.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.49%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both BITO and QQQ in my portfolio?

BITO and QQQ 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 QQQ?

BITO has higher volatility (12.60%) compared to QQQ (8.47%). In terms of maximum drawdown, BITO dropped -77.86% vs QQQ's -82.97%.

Which ETF is better, BITO or QQQ?

On 3-year performance, QQQ leads with 27.47% vs 19.33% for BITO. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITO or QQQ?

Over the 3-year period, QQQ has performed better with a 27.47% return vs 19.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITO or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.95% for BITO.

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

BITO has the higher dividend yield at 68.72%, compared with 0.49% for QQQ.

What is the main difference between BITO and QQQ?

BITO is categorized as Cryptocurrency, while QQQ is Nasdaq-100. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for BITO and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.33 vs -0.92), 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.