BITQ vs. TQQQ

Last updated Aug 4, 2026

BITQ (Bitwise Crypto Industry Innovators ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, BITQ returned 0.93%/yr vs 16.02%/yr for TQQQ. Their 0.63 correlation means they have sometimes moved together and sometimes differently. BITQ charges 0.85%/yr vs 0.95%/yr for TQQQ.

Performance

BITQ vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Crypto Industry Innovators ETF (BITQ) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITQ achieves a 18.16% return, which is significantly lower than TQQQ's 29.42% return.

BITQ

• 1D: 3.33%
• 1M: -1.01%
• 6M: 14.26%
• YTD: 18.16%
• 1Y: 24.60%
• 3Y*: 39.21%
• 5Y*: 0.93%
• 10Y*: —
• ALL TIME*: 0.18%

TQQQ

• 1D: 5.17%
• 1M: -7.35%
• 6M: 23.83%
• YTD: 29.42%
• 1Y: 64.98%
• 3Y*: 50.64%
• 5Y*: 16.02%
• 10Y*: 39.51%
• ALL TIME*: 42.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITQ Bitwise Crypto Industry Innovators ETF	$2.37M	$2.10M	$2.97M
TQQQ ProShares UltraPro QQQ	$4.46B	$4.47B	$5.36B

BITQ vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	18.16%	18.00%	46.97%	246.83%	-83.86%	-11.98%
TQQQ ProShares UltraPro QQQ	29.42%	34.35%	58.27%	198.04%	-79.09%	74.13%

Correlation

The correlation between BITQ and TQQQ is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.64
Correlation (All Time) Calculated using the full available price history since May 12, 2021	0.63

The correlation between BITQ and TQQQ has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

BITQ vs. TQQQ - Sectors Allocation Comparison

Sectors	BITQ	TQQQ
Financial Services	77.6%	0.2%
Technology	19.2%	53.8%
Consumer Cyclical	3.1%	12.3%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

BITQ vs. TQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BITQ

BITQ Risk / Return Rank: 22
BITQ Sharpe Ratio Rank: 21
BITQ Sortino Ratio Rank: 27
BITQ Omega Ratio Rank: 25
BITQ Calmar Ratio Rank: 21
BITQ Martin Ratio Rank: 19

TQQQ

TQQQ Risk / Return Rank: 45
TQQQ Sharpe Ratio Rank: 45
TQQQ Sortino Ratio Rank: 45
TQQQ Omega Ratio Rank: 44
TQQQ Calmar Ratio Rank: 48
TQQQ Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BITQ vs. TQQQ - Risk-Adjusted Trends 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BITQ	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.42	1.14	-0.72
Sortino ratio: Return per unit of downside risk	0.99	1.68	-0.69
Omega ratio: Gain probability vs. loss probability	1.11	1.21	-0.10
Calmar ratio: Return relative to maximum drawdown	0.55	1.77	-1.22
Martin ratio: Return relative to average drawdown	1.10	4.90	-3.80

BITQ vs. TQQQ - Sharpe Ratio Comparison

The current BITQ Sharpe Ratio is 0.42, which is lower than the TQQQ Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of BITQ and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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.

Drawdown Indicators

	BITQ	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-90.32%	-81.66%	-8.66%
Max Drawdown (1Y) Largest decline over 1 year	-44.99%	-36.97%	-8.02%
Max Drawdown (3Y) Largest decline over 3 years	-51.22%	-58.04%	+6.82%
Max Drawdown (5Y) Largest decline over 5 years	-90.32%	-81.66%	-8.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-27.36%	-21.90%	-5.46%
Average Drawdown Average peak-to-trough decline	-51.97%	-18.50%	-33.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.43%	13.31%	+9.12%

Volatility

BITQ vs. TQQQ - Volatility Comparison

Bitwise Crypto Industry Innovators ETF (BITQ) and ProShares UltraPro QQQ (TQQQ) have volatilities of 19.86% and 20.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITQ	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.86%	20.63%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	44.31%	47.88%	-3.57%
Volatility (1Y) Calculated over the trailing 1-year period	59.03%	57.57%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.26%	68.10%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.15%	66.61%	+0.54%

BITQ vs. TQQQ - Expense Ratio Comparison

BITQ has a 0.85% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

BITQ vs. TQQQ - Dividend Comparison

BITQ has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.56%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both BITQ and TQQQ in my portfolio?

BITQ and TQQQ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITQ or TQQQ?

TQQQ has higher volatility (20.63%) compared to BITQ (19.86%). In terms of maximum drawdown, BITQ dropped -90.32% vs TQQQ's -81.66%.

Which ETF is better, BITQ or TQQQ?

On 5-year performance, TQQQ leads with 16.02% vs 0.93% for BITQ. On fees, BITQ is cheaper at 0.85% per year. On volatility, BITQ has been the lower-risk option at 19.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITQ or TQQQ?

Over the 5-year period, TQQQ has performed better with a 16.02% return vs 0.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITQ or TQQQ?

BITQ is cheaper with a 0.85% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, BITQ or TQQQ?

TQQQ has the higher dividend yield at 0.56%, compared with 0.00% for BITQ.

What is the main difference between BITQ and TQQQ?

BITQ is categorized as Blockchain, while TQQQ is Leveraged Equities. BITQ tracks Bitwise Crypto Innovators 30 Index, while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Bitwise and ProShares. Their fees differ too: 0.85% for BITQ and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (1.14 vs 0.42), 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.