BITU vs. TQQQ

Last updated Jun 26, 2026

BITU (Proshares Ultra Bitcoin ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past year, BITU returned -78.69% vs 91.80% for TQQQ. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

BITU vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultra Bitcoin ETF (BITU) and ProShares UltraPro QQQ (TQQQ). 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 TQQQ's 42.40% return.

BITU

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

TQQQ

• 1D: 2.25%
• 1M: -8.54%
• YTD: 42.40%
• 6M: 35.61%
• 1Y: 91.80%
• 3Y*: 60.52%
• 5Y*: 21.71%
• 10Y*: 46.45%

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

BITU vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITU Proshares Ultra Bitcoin ETF	-62.35%	-37.07%	41.85%
TQQQ ProShares UltraPro QQQ	42.40%	34.35%	29.08%

Correlation

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

The correlation between BITU and TQQQ has been stable across timeframes, ranging from 0.44 to 0.50 - a consistent structural relationship.

Return for Risk

BITU vs. TQQQ — 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

TQQQ

TQQQ Risk / Return Rank: 55
TQQQ Sharpe Ratio Rank: 60
TQQQ Sortino Ratio Rank: 50
TQQQ Omega Ratio Rank: 52
TQQQ Calmar Ratio Rank: 59
TQQQ Martin Ratio Rank: 53

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. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and ProShares UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	1.73	-2.63
Sortino ratio: Return per unit of downside risk	-1.74	2.15	-3.89
Omega ratio: Gain probability vs. loss probability	0.81	1.29	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.95	2.50	-3.44
Martin ratio: Return relative to average drawdown	-1.47	7.89	-9.36

BITU vs. TQQQ - Sharpe Ratio Comparison

The current BITU Sharpe Ratio is -0.89, which is lower than the TQQQ Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of BITU and TQQQ, 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. TQQQ - Drawdown Comparison

The maximum BITU drawdown since its inception was -83.16%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for BITU and TQQQ.

Drawdown Indicators

	BITU	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-81.66%	-1.50%
Max Drawdown (1Y) Largest decline over 1 year	-83.16%	-36.97%	-46.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-83.16%	-14.07%	-69.09%
Average Drawdown Average peak-to-trough decline	-35.67%	-18.49%	-17.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.56%	11.67%	+41.89%

Volatility

BITU vs. TQQQ - Volatility Comparison

Proshares Ultra Bitcoin ETF (BITU) and ProShares UltraPro QQQ (TQQQ) have volatilities of 26.62% and 26.81%, 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	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.62%	26.81%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	69.77%	43.27%	+26.50%
Volatility (1Y) Calculated over the trailing 1-year period	88.34%	53.22%	+35.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.36%	67.42%	+29.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.36%	66.30%	+31.06%

BITU vs. TQQQ - Expense Ratio Comparison

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

Dividends

BITU vs. TQQQ - Dividend Comparison

BITU's dividend yield for the trailing twelve months is around 104.24%, more than TQQQ's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.27%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both BITU and TQQQ in my portfolio?

BITU and TQQQ 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 TQQQ?

TQQQ has higher volatility (26.81%) compared to BITU (26.62%). In terms of maximum drawdown, BITU dropped -83.16% vs TQQQ's -81.66%.

Which ETF is better, BITU or TQQQ?

On 1-year performance, TQQQ leads with 91.80% vs -78.69% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, BITU has been the lower-risk option at 26.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITU or TQQQ?

Over the 1-year period, TQQQ has performed better with a 91.80% 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 TQQQ?

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

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

BITU has the higher dividend yield at 104.24%, compared with 0.27% for TQQQ.

What is the main difference between BITU and TQQQ?

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

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (1.73 vs -0.89), 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.