BITU vs. UPRO
Compare and contrast key facts about Proshares Ultra Bitcoin ETF (BITU) and ProShares UltraPro S&P 500 (UPRO).
BITU and UPRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITU is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index - Benchmark TR Gross. It was launched on Apr 1, 2024. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. Both BITU and UPRO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BITU vs. UPRO - Performance Comparison
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BITU vs. UPRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | -48.47% | -37.07% | 37.90% |
UPRO ProShares UltraPro S&P 500 | -13.96% | 31.88% | 29.96% |
Returns By Period
In the year-to-date period, BITU achieves a -48.47% return, which is significantly lower than UPRO's -13.96% return.
BITU
- 1D
- -3.41%
- 1M
- -6.26%
- YTD
- -48.47%
- 6M
- -75.25%
- 1Y
- -58.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UPRO
- 1D
- 0.21%
- 1M
- -11.26%
- YTD
- -13.96%
- 6M
- -11.61%
- 1Y
- 31.98%
- 3Y*
- 37.93%
- 5Y*
- 17.21%
- 10Y*
- 25.67%
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BITU vs. UPRO - Expense Ratio Comparison
BITU has a 0.95% expense ratio, which is higher than UPRO's 0.92% expense ratio.
Return for Risk
BITU vs. UPRO — Risk / Return Rank
BITU
UPRO
BITU vs. UPRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and ProShares UltraPro S&P 500 (UPRO). 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 | UPRO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.65 | 0.59 | -1.24 |
Sortino ratioReturn per unit of downside risk | -0.72 | 1.17 | -1.88 |
Omega ratioGain probability vs. loss probability | 0.92 | 1.17 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | -0.73 | 1.03 | -1.76 |
Martin ratioReturn relative to average drawdown | -1.39 | 4.06 | -5.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITU | UPRO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.65 | 0.59 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | 0.60 | -0.93 |
Correlation
The correlation between BITU and UPRO is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BITU vs. UPRO - Dividend Comparison
BITU's dividend yield for the trailing twelve months is around 80.83%, more than UPRO's 1.01% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | 80.83% | 50.23% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UPRO ProShares UltraPro S&P 500 | 1.01% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
Drawdowns
BITU vs. UPRO - Drawdown Comparison
The maximum BITU drawdown since its inception was -77.76%, roughly equal to the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for BITU and UPRO.
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Drawdown Indicators
| BITU | UPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.76% | -76.82% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -77.76% | -26.78% | -50.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.82% | — |
Current DrawdownCurrent decline from peak | -76.95% | -18.51% | -58.44% |
Average DrawdownAverage peak-to-trough decline | -31.45% | -14.53% | -16.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.79% | 8.50% | +32.29% |
Volatility
BITU vs. UPRO - Volatility Comparison
Proshares Ultra Bitcoin ETF (BITU) has a higher volatility of 21.92% compared to ProShares UltraPro S&P 500 (UPRO) at 15.82%. This indicates that BITU's price experiences larger fluctuations and is considered to be riskier than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITU | UPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.92% | 15.82% | +6.10% |
Volatility (6M)Calculated over the trailing 6-month period | 73.90% | 28.46% | +45.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 90.15% | 54.35% | +35.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 99.50% | 50.32% | +49.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.50% | 53.68% | +45.82% |