BITU vs. USD

Last updated Jul 17, 2026

BITU (Proshares Ultra Bitcoin ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past year, BITU returned -79.54% vs 108.17% for USD. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

BITU vs. USD - Performance Comparison

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

Returns By Period

In the year-to-date period, BITU achieves a -56.31% return, which is significantly lower than USD's 63.25% return.

BITU

• 1D: -2.15%
• 1M: -6.47%
• 6M: -62.62%
• YTD: -56.31%
• 1Y: -79.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USD

• 1D: -7.37%
• 1M: -12.52%
• 6M: 51.62%
• YTD: 63.25%
• 1Y: 108.17%
• 3Y*: 94.08%
• 5Y*: 61.69%
• 10Y*: 56.23%

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

BITU vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITU Proshares Ultra Bitcoin ETF	-56.31%	-37.07%	41.85%
USD ProShares Ultra Semiconductors	63.25%	62.08%	29.82%

Correlation

The correlation between BITU and USD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.35

Return for Risk

BITU vs. USD — 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: 2

USD

USD Risk / Return Rank: 60
USD Sharpe Ratio Rank: 56
USD Sortino Ratio Rank: 49
USD Omega Ratio Rank: 50
USD Calmar Ratio Rank: 81
USD Martin Ratio Rank: 62

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. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and ProShares Ultra Semiconductors (USD). 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	USD	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	1.53	-2.44
Sortino ratio: Return per unit of downside risk	-1.80	1.99	-3.79
Omega ratio: Gain probability vs. loss probability	0.80	1.26	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.95	3.42	-4.38
Martin ratio: Return relative to average drawdown	-1.40	8.81	-10.21

BITU vs. USD - Sharpe Ratio Comparison

The current BITU Sharpe Ratio is -0.90, which is lower than the USD Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of BITU and USD, 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. USD - Drawdown Comparison

The maximum BITU drawdown since its inception was -83.45%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for BITU and USD.

Drawdown Indicators

	BITU	USD	Difference
Max Drawdown Largest peak-to-trough decline	-83.45%	-88.63%	+5.18%
Max Drawdown (1Y) Largest decline over 1 year	-83.45%	-31.80%	-51.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-64.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-80.46%	-24.58%	-55.88%
Average Drawdown Average peak-to-trough decline	-36.79%	-32.25%	-4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.89%	12.32%	+44.57%

Volatility

BITU vs. USD - Volatility Comparison

The current volatility for Proshares Ultra Bitcoin ETF (BITU) is 21.27%, while ProShares Ultra Semiconductors (USD) has a volatility of 30.75%. This indicates that BITU experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITU	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.27%	30.75%	-9.48%
Volatility (6M) Calculated over the trailing 6-month period	70.10%	58.47%	+11.63%
Volatility (1Y) Calculated over the trailing 1-year period	88.22%	71.05%	+17.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.74%	78.28%	+18.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.74%	70.10%	+26.64%

BITU vs. USD - Expense Ratio Comparison

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

Dividends

BITU vs. USD - Dividend Comparison

BITU's dividend yield for the trailing twelve months is around 88.27%, more than USD's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITU Proshares Ultra Bitcoin ETF	88.27%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.35%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both BITU and USD in my portfolio?

BITU and USD have a correlation of 0.40, 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 USD?

USD has higher volatility (30.75%) compared to BITU (21.27%). In terms of maximum drawdown, BITU dropped -83.45% vs USD's -88.63%.

Which ETF is better, BITU or USD?

On 1-year performance, USD leads with 108.17% vs -79.54% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, BITU has been the lower-risk option at 21.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITU or USD?

Over the 1-year period, USD has performed better with a 108.17% return vs -79.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITU or USD?

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

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

BITU has the higher dividend yield at 88.27%, compared with 0.35% for USD.

What is the main difference between BITU and USD?

BITU is categorized as Cryptocurrency, while USD is Leveraged Equities. BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross, while USD tracks Dow Jones U.S. Semiconductors Index (200%).

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (1.53 vs -0.90), 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.