BITO vs. SMCI
BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares, while SMCI (Super Micro Computer, Inc.) is a stock. Over the past 3 years, BITO returned 27.40%/yr vs 10.16%/yr for SMCI. At a 0.28 correlation, their price movements are largely independent.
Performance
BITO vs. SMCI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BITO achieves a -25.13% return, which is significantly lower than SMCI's 5.40% return.
BITO
- 1D
- 4.62%
- 1M
- -16.16%
- YTD
- -25.13%
- 6M
- -23.76%
- 1Y
- -39.30%
- 3Y*
- 27.40%
- 5Y*
- —
- 10Y*
- —
SMCI
- 1D
- 1.28%
- 1M
- -0.61%
- YTD
- 5.40%
- 6M
- -1.66%
- 1Y
- -25.77%
- 3Y*
- 10.16%
- 5Y*
- 53.88%
- 10Y*
- 28.01%
BITO vs. SMCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | -25.13% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
SMCI Super Micro Computer, Inc. | 5.40% | -3.97% | 7.23% | 246.24% | 86.80% | 25.68% |
Correlation
The correlation between BITO and SMCI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.28 |
The correlation between BITO and SMCI shifts across timeframes, from 0.27 (3 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BITO vs. SMCI — Risk / Return Rank
BITO
SMCI
BITO vs. SMCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and Super Micro Computer, Inc. (SMCI). 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 | SMCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.02 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.39 | -0.35 |
| Martin ratioReturn relative to average drawdown | -1.29 | -0.65 | -0.64 |
Loading charts...
Drawdowns
BITO vs. SMCI - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, smaller than the maximum SMCI drawdown of -84.84%. Use the drawdown chart below to compare losses from any high point for BITO and SMCI.
Loading charts...
Drawdown Indicators
| BITO | SMCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.86% | -84.84% | +6.98% |
Max Drawdown (1Y)Largest decline over 1 year | -53.10% | -66.18% | +13.08% |
Max Drawdown (3Y)Largest decline over 3 years | -53.10% | -84.84% | +31.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.84% | — |
Current DrawdownCurrent decline from peak | -48.36% | -74.03% | +25.67% |
Average DrawdownAverage peak-to-trough decline | -36.80% | -31.99% | -4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.47% | 39.46% | -8.99% |
Volatility
BITO vs. SMCI - Volatility Comparison
The current volatility for ProShares Bitcoin Strategy ETF (BITO) is 12.59%, while Super Micro Computer, Inc. (SMCI) has a volatility of 44.21%. This indicates that BITO experiences smaller price fluctuations and is considered to be less risky than SMCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BITO | SMCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.59% | 44.21% | -31.62% |
Volatility (6M)Calculated over the trailing 6-month period | 34.54% | 76.29% | -41.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.17% | 85.27% | -41.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.08% | 86.57% | -31.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.08% | 71.20% | -16.12% |
Dividends
BITO vs. SMCI - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 66.51%, while SMCI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 66.51% | 78.29% | 61.59% | 15.14% |
SMCI Super Micro Computer, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITO and SMCI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCI has higher volatility (44.21%) compared to BITO (12.59%). In terms of maximum drawdown, BITO dropped -77.86% vs SMCI's -84.84%.
SMCI currently has the higher Sharpe Ratio (-0.30 vs -0.89), 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.
Find the right allocation for BITO and SMCI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer