BITO vs. TQQQ
Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and ProShares UltraPro QQQ (TQQQ).
BITO and TQQQ 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. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITO or TQQQ.
Key characteristics
| BITO | TQQQ | |
|---|---|---|
| YTD Return | 47.35% | 6.32% |
| 1Y Return | 112.55% | 116.28% |
| Sharpe Ratio | 2.26 | 2.13 |
| Daily Std Dev | 50.70% | 48.91% |
| Max Drawdown | -77.86% | -81.66% |
| Current Drawdown | -15.80% | -37.78% |
Correlation
The correlation between BITO and TQQQ is 0.42, 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. TQQQ - Performance Comparison
In the year-to-date period, BITO achieves a 47.35% return, which is significantly higher than TQQQ's 6.32% 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. TQQQ - Expense Ratio Comparison
Both BITO and TQQQ have an expense ratio of 0.95%.
Risk-Adjusted Performance
BITO vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and ProShares UltraPro QQQ (TQQQ). 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. TQQQ - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 16.57%, more than TQQQ's 1.31% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 16.57% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 1.31% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% |
Drawdowns
BITO vs. TQQQ - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for BITO and TQQQ. For additional features, visit the drawdowns tool.
Volatility
BITO vs. TQQQ - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 16.02% compared to ProShares UltraPro QQQ (TQQQ) at 14.59%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.