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 -79.57% vs -45.95% 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 -55.85% return, which is significantly lower than BTC-USD's -25.95% return.
BITU
- 1D
- 7.33%
- 1M
- 0.28%
- 6M
- -61.77%
- YTD
- -55.85%
- 1Y
- -79.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 4.06%
- 1M
- -1.40%
- 6M
- -32.07%
- YTD
- -25.95%
- 1Y
- -45.95%
- 3Y*
- 28.83%
- 5Y*
- 15.25%
- 10Y*
- 58.05%
BITU vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | -55.85% | -37.07% | 41.85% |
BTC-USD Bitcoin | -25.95% | -6.27% | 33.97% |
Correlation
The correlation between BITU and BTC-USD is 0.73, 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 | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | 0.72 |
The correlation between BITU and BTC-USD has been stable across timeframes, ranging from 0.72 to 0.73 - 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.
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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.84 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.87 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.40 | -0.01 |
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Drawdowns
BITU vs. BTC-USD - Drawdown Comparison
The maximum BITU drawdown since its inception was -83.45%, roughly equal to 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 | -83.45% | -85.30% | +1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -83.45% | -53.08% | -30.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -53.08% | — |
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 | -80.26% | -48.05% | -32.21% |
Average DrawdownAverage peak-to-trough decline | -36.64% | -42.56% | +5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.45% | 29.09% | +27.36% |
Volatility
BITU vs. BTC-USD - Volatility Comparison
Proshares Ultra Bitcoin ETF (BITU) has a higher volatility of 23.07% compared to Bitcoin (BTC-USD) at 9.63%. 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 | 23.07% | 9.63% | +13.44% |
Volatility (6M)Calculated over the trailing 6-month period | 70.52% | 34.91% | +35.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.40% | 35.72% | +52.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.89% | 43.97% | +52.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.89% | 56.33% | +40.56% |
Frequently Asked Questions
BITU and BTC-USD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITU has higher volatility (23.07%) compared to BTC-USD (9.63%). In terms of maximum drawdown, BITU dropped -83.45% vs BTC-USD's -85.30%.
BITU currently has the higher Sharpe Ratio (-0.90 vs -1.07), 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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