BITU vs. BOIL

Last updated Jun 24, 2026

BITU (Proshares Ultra Bitcoin ETF) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross, while BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past year, BITU returned -74.19% vs -75.60% for BOIL. At a correlation of -0.03, they often move in opposite directions. BITU charges 0.95%/yr vs 1.31%/yr for BOIL.

Performance

BITU vs. BOIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultra Bitcoin ETF (BITU) and ProShares Ultra Bloomberg Natural Gas (BOIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITU achieves a -58.07% return, which is significantly lower than BOIL's -41.05% return.

BITU

• 1D: -6.41%
• 1M: -34.27%
• YTD: -58.07%
• 6M: -58.34%
• 1Y: -74.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOIL

• 1D: -4.80%
• 1M: 5.97%
• YTD: -41.05%
• 6M: -46.24%
• 1Y: -75.60%
• 3Y*: -66.48%
• 5Y*: -66.38%
• 10Y*: -57.84%

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

BITU vs. BOIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITU Proshares Ultra Bitcoin ETF	-58.07%	-37.07%	41.85%
BOIL ProShares Ultra Bloomberg Natural Gas	-41.05%	-58.98%	-21.88%

Correlation

The correlation between BITU and BOIL is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.03

The correlation between BITU and BOIL shifts across timeframes, from -0.13 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BITU vs. BOIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITU

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

BOIL

BOIL Risk / Return Rank: 3
BOIL Sharpe Ratio Rank: 4
BOIL Sortino Ratio Rank: 4
BOIL Omega Ratio Rank: 3
BOIL Calmar Ratio Rank: 1
BOIL Martin Ratio Rank: 2

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.

BITU vs. BOIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and ProShares Ultra Bloomberg Natural Gas (BOIL). 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.

	BITU	BOIL	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	-0.67	-0.17
Sortino ratio: Return per unit of downside risk	-1.46	-0.85	-0.61
Omega ratio: Gain probability vs. loss probability	0.84	0.89	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.90	-0.98	+0.07
Martin ratio: Return relative to average drawdown	-1.40	-1.36	-0.04

BITU vs. BOIL - Sharpe Ratio Comparison

The current BITU Sharpe Ratio is -0.84, which is comparable to the BOIL Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of BITU and BOIL, 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

BITU vs. BOIL - Drawdown Comparison

The maximum BITU drawdown since its inception was -82.21%, smaller than the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BITU and BOIL.

Drawdown Indicators

	BITU	BOIL	Difference
Max Drawdown Largest peak-to-trough decline	-82.21%	-100.00%	+17.79%
Max Drawdown (1Y) Largest decline over 1 year	-82.21%	-77.43%	-4.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-96.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.99%	—
Current Drawdown Current decline from peak	-81.25%	-100.00%	+18.75%
Average Drawdown Average peak-to-trough decline	-35.50%	-93.59%	+58.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.05%	56.83%	-3.78%

Volatility

BITU vs. BOIL - Volatility Comparison

Proshares Ultra Bitcoin ETF (BITU) has a higher volatility of 26.20% compared to ProShares Ultra Bloomberg Natural Gas (BOIL) at 23.63%. This indicates that BITU's price experiences larger fluctuations and is considered to be riskier than BOIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITU	BOIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.20%	23.63%	+2.57%
Volatility (6M) Calculated over the trailing 6-month period	69.81%	104.46%	-34.65%
Volatility (1Y) Calculated over the trailing 1-year period	88.13%	113.44%	-25.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.37%	118.97%	-21.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.37%	101.84%	-4.47%

BITU vs. BOIL - Expense Ratio Comparison

BITU has a 0.95% expense ratio, which is lower than BOIL's 1.31% expense ratio.

Dividends

BITU vs. BOIL - Dividend Comparison

BITU's dividend yield for the trailing twelve months is around 93.59%, while BOIL has not paid dividends to shareholders.

Position	TTM	2025	2024
BITU Proshares Ultra Bitcoin ETF	93.59%	50.23%	0.12%
BOIL ProShares Ultra Bloomberg Natural Gas	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITU and BOIL in my portfolio?

BITU and BOIL have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITU or BOIL?

BITU has higher volatility (26.20%) compared to BOIL (23.63%). In terms of maximum drawdown, BITU dropped -82.21% vs BOIL's -100.00%.

Which ETF is better, BITU or BOIL?

On 1-year performance, BITU leads with -74.19% vs -75.60% for BOIL. On fees, BITU is cheaper at 0.95% per year. On volatility, BOIL has been the lower-risk option at 23.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITU or BOIL?

Over the 1-year period, BITU has performed better with a -74.19% return vs -75.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITU or BOIL?

BITU is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.

Which ETF pays a higher dividend yield, BITU or BOIL?

BITU has the higher dividend yield at 93.59%, compared with 0.00% for BOIL.

What is the main difference between BITU and BOIL?

BITU is categorized as Cryptocurrency, while BOIL is Oil & Gas. BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross, while BOIL tracks Bloomberg Natural Gas Subindex. Their fees differ too: 0.95% for BITU and 1.31% for BOIL.

Which has better risk-adjusted returns?

BOIL currently has the higher Sharpe Ratio (-0.67 vs -0.84), 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.