BITO vs. YBIT

Last updated Jun 5, 2026

BITO (ProShares Bitcoin Strategy ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BITO returned -41.98% vs -36.59% for YBIT. Their correlation of 0.92 suggests significant overlap in exposure. BITO charges 0.95%/yr vs 0.99%/yr for YBIT.

Performance

BITO vs. YBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, BITO achieves a -28.44% return, which is significantly lower than YBIT's -26.82% return.

BITO

• 1D: -2.81%
• 1M: -22.52%
• YTD: -28.44%
• 6M: -32.46%
• 1Y: -41.98%
• 3Y*: 26.82%
• 5Y*: —
• 10Y*: —

YBIT

• 1D: -2.96%
• 1M: -19.50%
• YTD: -26.82%
• 6M: -28.95%
• 1Y: -36.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITO vs. YBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITO ProShares Bitcoin Strategy ETF	-28.44%	-11.19%	33.47%
YBIT YieldMax Bitcoin Option Income Strategy ETF	-26.82%	-2.49%	-0.09%

Correlation

The correlation between BITO and YBIT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Apr 24, 2024	0.92

The correlation between BITO and YBIT has been stable across timeframes, ranging from 0.92 to 0.99 - a consistent structural relationship.

Return for Risk

BITO vs. YBIT — 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: 2
BITO Martin Ratio Rank: 2

YBIT

YBIT Risk / Return Rank: 2
YBIT Sharpe Ratio Rank: 1
YBIT Sortino Ratio Rank: 2
YBIT Omega Ratio Rank: 2
YBIT Calmar Ratio Rank: 2
YBIT Martin Ratio Rank: 1

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. YBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and YieldMax Bitcoin Option Income Strategy ETF (YBIT). 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.

	BITO	YBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	-1.02	+0.05
Sortino ratio: Return per unit of downside risk	-1.39	-1.42	+0.02
Omega ratio: Gain probability vs. loss probability	0.84	0.83	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.81	-0.03
Martin ratio: Return relative to average drawdown	-1.44	-1.47	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITO vs. YBIT - Sharpe Ratio Comparison

The current BITO Sharpe Ratio is -0.97, which is comparable to the YBIT Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of BITO and YBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITO	YBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.97	-1.02	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	-0.38	+0.28

Drawdowns

BITO vs. YBIT - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, which is greater than YBIT's maximum drawdown of -45.54%. Use the drawdown chart below to compare losses from any high point for BITO and YBIT.

Drawdown Indicators

	BITO	YBIT	Difference
Max Drawdown Largest peak-to-trough decline	-77.86%	-45.54%	-32.32%
Max Drawdown (1Y) Largest decline over 1 year	-50.64%	-45.54%	-5.10%
Max Drawdown (3Y) Largest decline over 3 years	-50.64%	—	—
Current Drawdown Current decline from peak	-50.64%	-44.78%	-5.86%
Average Drawdown Average peak-to-trough decline	-36.75%	-15.17%	-21.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.27%	24.85%	+4.42%

Volatility

BITO vs. YBIT - Volatility Comparison

ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 9.03% compared to YieldMax Bitcoin Option Income Strategy ETF (YBIT) at 7.61%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than YBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITO	YBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	7.61%	+1.42%
Volatility (6M) Calculated over the trailing 6-month period	33.71%	28.76%	+4.95%
Volatility (1Y) Calculated over the trailing 1-year period	43.61%	36.16%	+7.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.10%	38.65%	+16.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.10%	38.65%	+16.45%

BITO vs. YBIT - Expense Ratio Comparison

BITO has a 0.95% expense ratio, which is lower than YBIT's 0.99% expense ratio.

Dividends

BITO vs. YBIT - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 69.59%, less than YBIT's 105.79% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	69.59%	78.29%	61.59%	15.14%
YBIT YieldMax Bitcoin Option Income Strategy ETF	105.79%	88.33%	60.00%	0.00%

Frequently Asked Questions

Can I hold both BITO and YBIT in my portfolio?

With a correlation of 0.99, BITO and YBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BITO or YBIT?

BITO has higher volatility (9.03%) compared to YBIT (7.61%). In terms of maximum drawdown, BITO dropped -77.86% vs YBIT's -45.54%.

Which ETF is better, BITO or YBIT?

On 1-year performance, YBIT leads with -36.59% vs -41.98% for BITO. On fees, BITO is cheaper at 0.95% per year. On volatility, YBIT has been the lower-risk option at 7.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITO or YBIT?

Over the 1-year period, YBIT has performed better with a -36.59% return vs -41.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITO or YBIT?

BITO is cheaper with a 0.95% expense ratio, compared with 0.99% for YBIT.

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

YBIT has the higher dividend yield at 105.79%, compared with 69.59% for BITO.

What is the main difference between BITO and YBIT?

They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.95% for BITO and 0.99% for YBIT.

Which has better risk-adjusted returns?

BITO currently has the higher Sharpe Ratio (-0.97 vs -1.02), 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.