BITU vs. WGMI

Last updated Jun 5, 2026

BITU (Proshares Ultra Bitcoin ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. BITU is passively managed, while WGMI is actively managed. Over the past year, BITU returned -73.89% vs 261.44% for WGMI. A 0.63 correlation means they provide meaningful diversification when combined. BITU charges 0.95%/yr vs 0.75%/yr for WGMI.

Performance

BITU vs. WGMI - Performance Comparison

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

Returns By Period

In the year-to-date period, BITU achieves a -55.56% return, which is significantly lower than WGMI's 81.24% return.

BITU

• 1D: -5.61%
• 1M: -40.78%
• YTD: -55.56%
• 6M: -61.06%
• 1Y: -73.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -1.92%
• 1M: 25.79%
• YTD: 81.24%
• 6M: 46.67%
• 1Y: 261.44%
• 3Y*: 88.52%
• 5Y*: —
• 10Y*: —

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

BITU vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITU Proshares Ultra Bitcoin ETF	-55.56%	-37.07%	37.90%
WGMI Valkyrie Bitcoin Miners ETF	81.24%	72.47%	35.75%

Correlation

The correlation between BITU and WGMI is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	0.63

The correlation between BITU and WGMI has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

BITU vs. WGMI - Sectors Allocation Comparison

Sectors	BITU	WGMI
Financial Services	4.2%	51.3%
Basic Materials	-	-
Communication Services	-	1.2%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.5%
Real Estate	-	-
Technology	-	45.9%
Utilities	-	1.2%

Return for Risk

BITU vs. WGMI — Risk / Return Rank

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

BITU

BITU Risk / Return Rank: 2
BITU Sharpe Ratio Rank: 3
BITU Sortino Ratio Rank: 2
BITU Omega Ratio Rank: 2
BITU Calmar Ratio Rank: 1
BITU Martin Ratio Rank: 1

WGMI

WGMI Risk / Return Rank: 77
WGMI Sharpe Ratio Rank: 93
WGMI Sortino Ratio Rank: 75
WGMI Omega Ratio Rank: 67
WGMI Calmar Ratio Rank: 88
WGMI Martin Ratio Rank: 60

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. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and Valkyrie Bitcoin Miners ETF (WGMI). 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	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	3.48	-4.33
Sortino ratio: Return per unit of downside risk	-1.48	3.30	-4.77
Omega ratio: Gain probability vs. loss probability	0.84	1.40	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.92	5.17	-6.09
Martin ratio: Return relative to average drawdown	-1.48	10.48	-11.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITU vs. WGMI - Sharpe Ratio Comparison

The current BITU Sharpe Ratio is -0.85, which is lower than the WGMI Sharpe Ratio of 3.48. The chart below compares the historical Sharpe Ratios of BITU and WGMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITU	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	3.48	-4.33
Sharpe Ratio (All Time) Calculated using the full available price history	-0.37	0.30	-0.67

Drawdowns

BITU vs. WGMI - Drawdown Comparison

The maximum BITU drawdown since its inception was -80.13%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for BITU and WGMI.

Drawdown Indicators

	BITU	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-80.13%	-85.76%	+5.63%
Max Drawdown (1Y) Largest decline over 1 year	-80.13%	-50.94%	-29.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-62.79%	—
Current Drawdown Current decline from peak	-80.13%	-3.01%	-77.12%
Average Drawdown Average peak-to-trough decline	-34.58%	-42.86%	+8.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.09%	25.08%	+25.01%

Volatility

BITU vs. WGMI - Volatility Comparison

Proshares Ultra Bitcoin ETF (BITU) and Valkyrie Bitcoin Miners ETF (WGMI) have volatilities of 18.31% and 18.90%, 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	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.31%	18.90%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	68.43%	55.08%	+13.35%
Volatility (1Y) Calculated over the trailing 1-year period	87.07%	75.99%	+11.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.43%	81.50%	+15.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.43%	81.50%	+15.93%

BITU vs. WGMI - Expense Ratio Comparison

BITU has a 0.95% expense ratio, which is higher than WGMI's 0.75% expense ratio.

Dividends

BITU vs. WGMI - Dividend Comparison

BITU's dividend yield for the trailing twelve months is around 88.31%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BITU Proshares Ultra Bitcoin ETF	88.31%	50.23%	0.12%	0.00%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both BITU and WGMI in my portfolio?

BITU and WGMI have a correlation of 0.56, 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 WGMI?

WGMI has higher volatility (18.90%) compared to BITU (18.31%). In terms of maximum drawdown, BITU dropped -80.13% vs WGMI's -85.76%.

Which ETF is better, BITU or WGMI?

On 1-year performance, WGMI leads with 261.44% vs -73.89% for BITU. On fees, WGMI is cheaper at 0.75% per year. On volatility, BITU has been the lower-risk option at 18.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITU or WGMI?

Over the 1-year period, WGMI has performed better with a 261.44% return vs -73.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITU or WGMI?

WGMI is cheaper with a 0.75% expense ratio, compared with 0.95% for BITU.

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

BITU has the higher dividend yield at 88.31%, compared with 0.00% for WGMI.

What is the main difference between BITU and WGMI?

They also come from different issuers: ProShares and Valkyrie. Their fees differ too: 0.95% for BITU and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (3.48 vs -0.85), 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.