BITQ vs. TQQQ
Compare and contrast key facts about Bitwise Crypto Industry Innovators ETF (BITQ) and ProShares UltraPro QQQ (TQQQ).
BITQ and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITQ is a passively managed fund by Exchange Traded Concepts that tracks the performance of the Bitwise Crypto Innovators 30 Total Return. It was launched on May 11, 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. Both BITQ and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITQ or TQQQ.
Key characteristics
| BITQ | TQQQ | |
|---|---|---|
| YTD Return | 28.47% | 40.08% |
| 1Y Return | 103.30% | 89.82% |
| 3Y Return (Ann) | -21.26% | -5.25% |
| Sharpe Ratio | 1.55 | 1.88 |
| Sortino Ratio | 2.25 | 2.28 |
| Omega Ratio | 1.25 | 1.31 |
| Calmar Ratio | 1.30 | 1.70 |
| Martin Ratio | 5.85 | 7.81 |
| Ulcer Index | 17.46% | 12.36% |
| Daily Std Dev | 66.14% | 51.35% |
| Max Drawdown | -90.32% | -81.66% |
| Current Drawdown | -54.46% | -18.03% |
Correlation
The correlation between BITQ and TQQQ is 0.61, 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
BITQ vs. TQQQ - Performance Comparison
In the year-to-date period, BITQ achieves a 28.47% return, which is significantly lower than TQQQ's 40.08% 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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BITQ vs. TQQQ - Expense Ratio Comparison
BITQ has a 0.85% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
BITQ vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) 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
BITQ vs. TQQQ - Dividend Comparison
BITQ's dividend yield for the trailing twelve months is around 1.18%, less than TQQQ's 1.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 1.18% | 1.51% | 0.00% | 3.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 1.35% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% |
Drawdowns
BITQ vs. TQQQ - Drawdown Comparison
The maximum BITQ drawdown since its inception was -90.32%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for BITQ and TQQQ. For additional features, visit the drawdowns tool.
Volatility
BITQ vs. TQQQ - Volatility Comparison
Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 18.38% compared to ProShares UltraPro QQQ (TQQQ) at 13.03%. This indicates that BITQ'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.