BITU vs. SQQQ

Last updated Jun 26, 2026

BITU (Proshares Ultra Bitcoin ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past year, BITU returned -78.69% vs -59.41% for SQQQ. At a correlation of -0.44, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

BITU vs. SQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, BITU achieves a -62.35% return, which is significantly lower than SQQQ's -40.98% return.

BITU

• 1D: -2.36%
• 1M: -41.19%
• YTD: -62.35%
• 6M: -62.22%
• 1Y: -78.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: -2.42%
• 1M: 2.09%
• YTD: -40.98%
• 6M: -38.01%
• 1Y: -59.41%
• 3Y*: -54.63%
• 5Y*: -47.03%
• 10Y*: -56.54%

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

BITU vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITU Proshares Ultra Bitcoin ETF	-62.35%	-37.07%	41.85%
SQQQ ProShares UltraPro Short QQQ	-40.98%	-53.05%	-36.09%

Correlation

The correlation between BITU and SQQQ is -0.50, 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	-0.50
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.44

Return for Risk

BITU vs. SQQQ — Risk / Return Rank

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

BITU

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

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

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. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and ProShares UltraPro Short QQQ (SQQQ). 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	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	-1.11	+0.22
Sortino ratio: Return per unit of downside risk	-1.74	-1.98	+0.23
Omega ratio: Gain probability vs. loss probability	0.81	0.79	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.95	-0.96	+0.01
Martin ratio: Return relative to average drawdown	-1.47	-1.84	+0.38

BITU vs. SQQQ - Sharpe Ratio Comparison

The current BITU Sharpe Ratio is -0.89, which is comparable to the SQQQ Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of BITU and SQQQ, 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. SQQQ - Drawdown Comparison

The maximum BITU drawdown since its inception was -83.16%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BITU and SQQQ.

Drawdown Indicators

	BITU	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-100.00%	+16.84%
Max Drawdown (1Y) Largest decline over 1 year	-83.16%	-62.23%	-20.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-92.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.98%	—
Current Drawdown Current decline from peak	-83.16%	-100.00%	+16.84%
Average Drawdown Average peak-to-trough decline	-35.67%	-92.73%	+57.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.56%	33.76%	+19.80%

Volatility

BITU vs. SQQQ - Volatility Comparison

Proshares Ultra Bitcoin ETF (BITU) and ProShares UltraPro Short QQQ (SQQQ) have volatilities of 26.62% and 26.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITU	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.62%	26.22%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	69.77%	43.25%	+26.52%
Volatility (1Y) Calculated over the trailing 1-year period	88.34%	53.47%	+34.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.36%	67.54%	+29.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.36%	66.45%	+30.91%

BITU vs. SQQQ - Expense Ratio Comparison

Both BITU and SQQQ have an expense ratio of 0.95%.

Dividends

BITU vs. SQQQ - Dividend Comparison

BITU's dividend yield for the trailing twelve months is around 104.24%, more than SQQQ's 10.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BITU Proshares Ultra Bitcoin ETF	104.24%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	10.12%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both BITU and SQQQ in my portfolio?

BITU and SQQQ have a correlation of -0.50, 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 SQQQ?

BITU has higher volatility (26.62%) compared to SQQQ (26.22%). In terms of maximum drawdown, BITU dropped -83.16% vs SQQQ's -100.00%.

Which ETF is better, BITU or SQQQ?

On 1-year performance, SQQQ leads with -59.41% vs -78.69% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, SQQQ has been the lower-risk option at 26.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITU or SQQQ?

Over the 1-year period, SQQQ has performed better with a -59.41% return vs -78.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITU or SQQQ?

BITU and SQQQ have the same expense ratio: 0.95% per year.

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

BITU has the higher dividend yield at 104.24%, compared with 10.12% for SQQQ.

What is the main difference between BITU and SQQQ?

BITU is categorized as Cryptocurrency, while SQQQ is Leveraged Equities. BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross, while SQQQ tracks NASDAQ-100 Index (-300%).

Which has better risk-adjusted returns?

BITU currently has the higher Sharpe Ratio (-0.89 vs -1.11), 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.