BITO vs. QQQ
Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and Invesco QQQ (QQQ).
BITO and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITO or QQQ.
Key characteristics
| BITO | QQQ | |
|---|---|---|
| YTD Return | 104.81% | 21.78% |
| 1Y Return | 134.95% | 29.54% |
| 3Y Return (Ann) | 9.90% | 8.44% |
| Sharpe Ratio | 2.14 | 1.70 |
| Sortino Ratio | 2.73 | 2.29 |
| Omega Ratio | 1.32 | 1.31 |
| Calmar Ratio | 2.47 | 2.19 |
| Martin Ratio | 9.18 | 7.96 |
| Ulcer Index | 13.50% | 3.72% |
| Daily Std Dev | 57.80% | 17.39% |
| Max Drawdown | -77.86% | -82.98% |
| Current Drawdown | 0.00% | -3.42% |
Correlation
The correlation between BITO and QQQ is 0.41, 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. QQQ - Performance Comparison
In the year-to-date period, BITO achieves a 104.81% return, which is significantly higher than QQQ's 21.78% 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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BITO vs. QQQ - Expense Ratio Comparison
BITO has a 0.95% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Risk-Adjusted Performance
BITO vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and Invesco QQQ (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.
Dividends
BITO vs. QQQ - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 49.45%, more than QQQ's 0.61% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 49.45% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ | 0.61% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.02% |
Drawdowns
BITO vs. QQQ - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for BITO and QQQ. For additional features, visit the drawdowns tool.
Volatility
BITO vs. QQQ - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 18.53% compared to Invesco QQQ (QQQ) at 5.62%. 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.