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BITO vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between BITO and SPY 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.


-0.50.00.51.0
Correlation: 0.4

Performance

BITO vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin Strategy ETF (BITO) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

-10.00%0.00%10.00%20.00%30.00%40.00%NovemberDecember2025FebruaryMarchApril
19.80%
27.59%
BITO
SPY

Key characteristics

Sharpe Ratio

BITO:

0.58

SPY:

0.54

Sortino Ratio

BITO:

1.19

SPY:

0.89

Omega Ratio

BITO:

1.14

SPY:

1.13

Calmar Ratio

BITO:

1.03

SPY:

0.58

Martin Ratio

BITO:

2.33

SPY:

2.39

Ulcer Index

BITO:

13.79%

SPY:

4.51%

Daily Std Dev

BITO:

55.22%

SPY:

20.07%

Max Drawdown

BITO:

-77.86%

SPY:

-55.19%

Current Drawdown

BITO:

-14.26%

SPY:

-10.54%

Returns By Period

In the year-to-date period, BITO achieves a -1.44% return, which is significantly higher than SPY's -6.44% return.


BITO

YTD

-1.44%

1M

5.96%

6M

32.61%

1Y

37.76%

5Y*

N/A

10Y*

N/A

SPY

YTD

-6.44%

1M

-5.00%

6M

-5.02%

1Y

9.54%

5Y*

15.80%

10Y*

11.95%

*Annualized

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BITO vs. SPY - Expense Ratio Comparison

BITO has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for BITO: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
BITO: 0.95%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

BITO vs. SPY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITO
The Risk-Adjusted Performance Rank of BITO is 7171
Overall Rank
The Sharpe Ratio Rank of BITO is 6565
Sharpe Ratio Rank
The Sortino Ratio Rank of BITO is 7474
Sortino Ratio Rank
The Omega Ratio Rank of BITO is 6767
Omega Ratio Rank
The Calmar Ratio Rank of BITO is 8383
Calmar Ratio Rank
The Martin Ratio Rank of BITO is 6666
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6565
Overall Rank
The Sharpe Ratio Rank of SPY is 6262
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6464
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6565
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6969
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6767
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

BITO vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for BITO, currently valued at 0.58, compared to the broader market-1.000.001.002.003.004.00
BITO: 0.58
SPY: 0.54
The chart of Sortino ratio for BITO, currently valued at 1.19, compared to the broader market-2.000.002.004.006.008.00
BITO: 1.19
SPY: 0.89
The chart of Omega ratio for BITO, currently valued at 1.14, compared to the broader market0.501.001.502.00
BITO: 1.14
SPY: 1.13
The chart of Calmar ratio for BITO, currently valued at 1.03, compared to the broader market0.002.004.006.008.0010.0012.00
BITO: 1.03
SPY: 0.58
The chart of Martin ratio for BITO, currently valued at 2.33, compared to the broader market0.0020.0040.0060.00
BITO: 2.33
SPY: 2.39

The current BITO Sharpe Ratio is 0.58, which is comparable to the SPY Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of BITO and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.58
0.54
BITO
SPY

Dividends

BITO vs. SPY - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 67.78%, more than SPY's 1.31% yield.


TTM20242023202220212020201920182017201620152014
BITO
ProShares Bitcoin Strategy ETF
67.78%61.58%15.14%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY
SPDR S&P 500 ETF
1.31%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

BITO vs. SPY - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BITO and SPY. For additional features, visit the drawdowns tool.


-30.00%-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-14.26%
-10.54%
BITO
SPY

Volatility

BITO vs. SPY - Volatility Comparison

ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 16.72% compared to SPDR S&P 500 ETF (SPY) at 15.13%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%20.00%NovemberDecember2025FebruaryMarchApril
16.72%
15.13%
BITO
SPY