BITU vs. ETHT

Last updated Jun 4, 2026

BITU (Proshares Ultra Bitcoin ETF) and ETHT (ProShares Ultra Ether ETF) are both Cryptocurrency funds from ProShares - BITU tracks the Bloomberg Bitcoin Index - Benchmark TR Gross while ETHT tracks the Bloomberg Ethereum Index (200%). Both are passively managed. Over the past year, BITU returned -73.07% vs -76.37% for ETHT. Their correlation of 0.82 suggests significant overlap in exposure. BITU charges 0.95%/yr vs 0.94%/yr for ETHT.

Performance

BITU vs. ETHT - Performance Comparison

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

Returns By Period

In the year-to-date period, BITU achieves a -52.92% return, which is significantly higher than ETHT's -72.39% return.

BITU

• 1D: -5.58%
• 1M: -34.84%
• YTD: -52.92%
• 6M: -59.11%
• 1Y: -73.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHT

• 1D: -11.32%
• 1M: -43.48%
• YTD: -72.39%
• 6M: -76.21%
• 1Y: -76.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITU vs. ETHT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITU Proshares Ultra Bitcoin ETF	-52.92%	-37.07%	35.52%
ETHT ProShares Ultra Ether ETF	-72.39%	-64.86%	-41.68%

Correlation

The correlation between BITU and ETHT is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 10, 2024	0.82

The correlation between BITU and ETHT has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

Return for Risk

BITU vs. ETHT — 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

ETHT

ETHT Risk / Return Rank: 3
ETHT Sharpe Ratio Rank: 4
ETHT Sortino Ratio Rank: 4
ETHT Omega Ratio Rank: 5
ETHT Calmar Ratio Rank: 2
ETHT Martin Ratio Rank: 3

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. ETHT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and ProShares Ultra Ether ETF (ETHT). 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	ETHT	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	-0.56	-0.28
Sortino ratio: Return per unit of downside risk	-1.44	-0.54	-0.90
Omega ratio: Gain probability vs. loss probability	0.84	0.94	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.93	-0.83	-0.09
Martin ratio: Return relative to average drawdown	-1.47	-1.22	-0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITU vs. ETHT - Sharpe Ratio Comparison

The current BITU Sharpe Ratio is -0.84, which is lower than the ETHT Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of BITU and ETHT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITU	ETHT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	-0.56	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	-0.54	+0.19

Drawdowns

BITU vs. ETHT - Drawdown Comparison

The maximum BITU drawdown since its inception was -78.94%, smaller than the maximum ETHT drawdown of -94.34%. Use the drawdown chart below to compare losses from any high point for BITU and ETHT.

Drawdown Indicators

	BITU	ETHT	Difference
Max Drawdown Largest peak-to-trough decline	-78.94%	-94.34%	+15.40%
Max Drawdown (1Y) Largest decline over 1 year	-78.94%	-91.91%	+12.97%
Current Drawdown Current decline from peak	-78.94%	-94.34%	+15.40%
Average Drawdown Average peak-to-trough decline	-34.49%	-64.82%	+30.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.84%	62.48%	-12.64%

Volatility

BITU vs. ETHT - Volatility Comparison

The current volatility for Proshares Ultra Bitcoin ETF (BITU) is 18.99%, while ProShares Ultra Ether ETF (ETHT) has a volatility of 20.43%. This indicates that BITU experiences smaller price fluctuations and is considered to be less risky than ETHT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITU	ETHT	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.99%	20.43%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	69.41%	92.88%	-23.47%
Volatility (1Y) Calculated over the trailing 1-year period	87.00%	136.57%	-49.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.45%	142.90%	-45.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.45%	142.90%	-45.45%

BITU vs. ETHT - Expense Ratio Comparison

BITU has a 0.95% expense ratio, which is higher than ETHT's 0.94% expense ratio.

Dividends

BITU vs. ETHT - Dividend Comparison

BITU's dividend yield for the trailing twelve months is around 83.36%, more than ETHT's 17.20% yield.

Position	TTM	2025	2024
BITU Proshares Ultra Bitcoin ETF	83.36%	50.23%	0.12%
ETHT ProShares Ultra Ether ETF	17.20%	4.57%	0.02%

Frequently Asked Questions

Can I hold both BITU and ETHT in my portfolio?

BITU and ETHT have a correlation of 0.87, 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 ETHT?

ETHT has higher volatility (20.43%) compared to BITU (18.99%). In terms of maximum drawdown, BITU dropped -78.94% vs ETHT's -94.34%.

Which ETF is better, BITU or ETHT?

On 1-year performance, BITU leads with -73.07% vs -76.37% for ETHT. On fees, ETHT is cheaper at 0.94% per year. On volatility, BITU has been the lower-risk option at 18.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITU or ETHT?

Over the 1-year period, BITU has performed better with a -73.07% return vs -76.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITU or ETHT?

ETHT is cheaper with a 0.94% expense ratio, compared with 0.95% for BITU.

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

BITU has the higher dividend yield at 83.36%, compared with 17.20% for ETHT.

What is the main difference between BITU and ETHT?

BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross, while ETHT tracks Bloomberg Ethereum Index (200%). Their fees differ too: 0.95% for BITU and 0.94% for ETHT.

Which has better risk-adjusted returns?

ETHT currently has the higher Sharpe Ratio (-0.56 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.