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

Correlation

The correlation between BITO and YBTC is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

BITO vs. YBTC

Last updated Jun 2, 2025

Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC).

BITO and YBTC 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. YBTC is an actively managed fund by Roundhill. It was launched on Jan 17, 2024.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITO or YBTC.

Performance

BITO vs. YBTC - Performance Comparison

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

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Key characteristics

Sharpe Ratio

BITO:

0.80

YBTC:

0.78

Sortino Ratio

BITO:

1.43

YBTC:

1.24

Omega Ratio

BITO:

1.17

YBTC:

1.16

Calmar Ratio

BITO:

1.40

YBTC:

1.38

Martin Ratio

BITO:

3.12

YBTC:

2.93

Ulcer Index

BITO:

13.92%

YBTC:

10.98%

Daily Std Dev

BITO:

53.54%

YBTC:

44.49%

Max Drawdown

BITO:

-77.86%

YBTC:

-23.39%

Current Drawdown

BITO:

-6.06%

YBTC:

-4.78%

Returns By Period

In the year-to-date period, BITO achieves a 9.30% return, which is significantly lower than YBTC's 11.26% return.

BITO

YTD

9.30%

1M

7.52%

6M

3.69%

1Y

45.74%

3Y*

41.59%

5Y*

N/A

10Y*

N/A

YBTC

YTD

11.26%

1M

8.46%

6M

9.83%

1Y

34.55%

3Y*

N/A

5Y*

N/A

10Y*

N/A

*Annualized

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ProShares Bitcoin Strategy ETF

Roundhill Bitcoin Covered Call Strategy ETF

BITO vs. YBTC - Expense Ratio Comparison

Both BITO and YBTC have an expense ratio of 0.95%.

BITO
ProShares Bitcoin Strategy ETF
YBTC
Roundhill Bitcoin Covered Call Strategy ETF
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

BITO vs. YBTC — 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 7474
Overall Rank
The Sharpe Ratio Rank of BITO is 6767
Sharpe Ratio Rank
The Sortino Ratio Rank of BITO is 7777
Sortino Ratio Rank
The Omega Ratio Rank of BITO is 6969
Omega Ratio Rank
The Calmar Ratio Rank of BITO is 8686
Calmar Ratio Rank
The Martin Ratio Rank of BITO is 7171
Martin Ratio Rank
YBTC
The Risk-Adjusted Performance Rank of YBTC is 7171
Overall Rank
The Sharpe Ratio Rank of YBTC is 6565
Sharpe Ratio Rank
The Sortino Ratio Rank of YBTC is 7070
Sortino Ratio Rank
The Omega Ratio Rank of YBTC is 6464
Omega Ratio Rank
The Calmar Ratio Rank of YBTC is 8686
Calmar Ratio Rank
The Martin Ratio Rank of YBTC is 6868
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. YBTC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). 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 current BITO Sharpe Ratio is 0.80, which is comparable to the YBTC Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of BITO and YBTC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

BITO vs. YBTC - Dividend Comparison

BITO's dividend yield for the trailing twelve months is around 57.63%, more than YBTC's 43.96% yield.

TTM20242023
BITO
ProShares Bitcoin Strategy ETF		57.63%61.58%15.14%
YBTC
Roundhill Bitcoin Covered Call Strategy ETF		43.96%44.53%0.00%

Drawdowns

BITO vs. YBTC - Drawdown Comparison

The maximum BITO drawdown since its inception was -77.86%, which is greater than YBTC's maximum drawdown of -23.39%. Use the drawdown chart below to compare losses from any high point for BITO and YBTC.

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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

BITO vs. YBTC - Volatility Comparison

ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 9.55% compared to Roundhill Bitcoin Covered Call Strategy ETF (YBTC) at 7.42%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than YBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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