BITU vs. MSTR
BITU (Proshares Ultra Bitcoin ETF) is Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross, while MSTR (Strategy Inc) is a stock. Over the past year, BITU returned -80.42% vs -78.81% for MSTR. A 0.78 correlation means they provide meaningful diversification when combined.
Performance
BITU vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, BITU achieves a -58.86% return, which is significantly lower than MSTR's -39.39% return.
BITU
- 1D
- -5.16%
- 1M
- -6.57%
- 6M
- -62.01%
- YTD
- -58.86%
- 1Y
- -80.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -2.68%
- 1M
- -25.71%
- 6M
- -43.23%
- YTD
- -39.39%
- 1Y
- -78.81%
- 3Y*
- 26.14%
- 5Y*
- 10.45%
- 10Y*
- 17.27%
BITU vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | -58.86% | -37.07% | 41.85% |
MSTR Strategy Inc | -39.39% | -47.53% | 76.95% |
Correlation
The correlation between BITU and MSTR is 0.84, 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 | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | 0.78 |
The correlation between BITU and MSTR has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
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Return for Risk
BITU vs. MSTR — Risk / Return Rank
BITU
MSTR
BITU vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and Strategy Inc (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.76 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.96 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.43 | -1.38 | -0.05 |
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Drawdowns
BITU vs. MSTR - Drawdown Comparison
The maximum BITU drawdown since its inception was -83.45%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for BITU and MSTR.
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Drawdown Indicators
| BITU | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.45% | -99.86% | +16.41% |
Max Drawdown (1Y)Largest decline over 1 year | -83.45% | -81.95% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -82.63% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -81.60% | -80.56% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -36.56% | -86.43% | +49.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.22% | 57.18% | -0.96% |
Volatility
BITU vs. MSTR - Volatility Comparison
The current volatility for Proshares Ultra Bitcoin ETF (BITU) is 22.54%, while Strategy Inc (MSTR) has a volatility of 26.76%. This indicates that BITU experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITU | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.54% | 26.76% | -4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 70.09% | 61.05% | +9.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.23% | 74.29% | +13.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.86% | 90.78% | +6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.86% | 74.25% | +22.61% |
Dividends
BITU vs. MSTR - Dividend Comparison
BITU's dividend yield for the trailing twelve months is around 93.76%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | 93.76% | 50.23% | 0.12% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITU and MSTR have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (26.76%) compared to BITU (22.54%). In terms of maximum drawdown, BITU dropped -83.45% vs MSTR's -99.86%.
BITU currently has the higher Sharpe Ratio (-0.91 vs -1.06), 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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