BITU vs. BTC-USD
BITU (Proshares Ultra Bitcoin ETF) is Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, BITU returned -70.45% vs -36.52% for BTC-USD. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
BITU vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BITU achieves a -50.14% return, which is significantly lower than BTC-USD's -23.17% return.
BITU
- 1D
- -11.77%
- 1M
- -28.10%
- YTD
- -50.14%
- 6M
- -54.90%
- 1Y
- -70.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 0.85%
- 1M
- -14.42%
- YTD
- -23.17%
- 6M
- -26.37%
- 1Y
- -36.52%
- 3Y*
- 35.33%
- 5Y*
- 12.77%
- 10Y*
- 60.98%
BITU vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | -50.14% | -37.07% | 37.90% |
BTC-USD Bitcoin | -23.17% | -6.27% | 42.60% |
Correlation
The correlation between BITU and BTC-USD is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024 | 0.72 |
The correlation between BITU and BTC-USD has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.
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Return for Risk
BITU vs. BTC-USD — Risk / Return Rank
BITU
BTC-USD
BITU vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and Bitcoin (BTC-USD). 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.
| BITU | BTC-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.81 | -0.85 | +0.04 |
Sortino ratioReturn per unit of downside risk | -1.30 | -1.14 | -0.16 |
Omega ratioGain probability vs. loss probability | 0.85 | 0.88 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.91 | -1.07 | +0.16 |
Martin ratioReturn relative to average drawdown | -1.42 | -1.57 | +0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITU | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.81 | -0.85 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.24 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | 1.14 | -1.47 |
Drawdowns
BITU vs. BTC-USD - Drawdown Comparison
The maximum BITU drawdown since its inception was -77.76%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BITU and BTC-USD.
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Drawdown Indicators
| BITU | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.76% | -85.30% | +7.54% |
Max Drawdown (1Y)Largest decline over 1 year | -77.76% | -49.65% | -28.11% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -77.70% | -46.10% | -31.60% |
Average DrawdownAverage peak-to-trough decline | -34.41% | -42.27% | +7.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.59% | 33.71% | +15.88% |
Volatility
BITU vs. BTC-USD - Volatility Comparison
Proshares Ultra Bitcoin ETF (BITU) has a higher volatility of 19.53% compared to Bitcoin (BTC-USD) at 9.90%. This indicates that BITU's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITU | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.53% | 9.90% | +9.63% |
Volatility (6M)Calculated over the trailing 6-month period | 70.19% | 33.98% | +36.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.84% | 35.37% | +51.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.46% | 45.01% | +52.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.46% | 56.68% | +40.78% |
Frequently Asked Questions
BITU and BTC-USD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITU has higher volatility (19.53%) compared to BTC-USD (9.90%). In terms of maximum drawdown, BITU dropped -77.76% vs BTC-USD's -85.30%.
BITU currently has the higher Sharpe Ratio (-0.81 vs -0.85), 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.
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