BITU vs. WNTR
BITU (Proshares Ultra Bitcoin ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross, while WNTR is a Derivative Income fund actively managed by YieldMax. BITU is passively managed, while WNTR is actively managed. Over the past year, BITU returned -77.50% vs 106.92% for WNTR. Their -0.81 correlation means they have often moved in opposite directions in the past. BITU charges 0.95%/yr vs 1.00%/yr for WNTR.
Performance
BITU vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, BITU achieves a -57.36% return, which is significantly lower than WNTR's 10.51% return.
BITU
- 1D
- 2.86%
- 1M
- 5.78%
- 6M
- -44.05%
- YTD
- -57.36%
- 1Y
- -77.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -33.87%
WNTR
- 1D
- -0.22%
- 1M
- 7.89%
- 6M
- 8.31%
- YTD
- 10.51%
- 1Y
- 106.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.97M | $38.90M | $46.19M | |
| $3.92M | $3.66M | $3.95M |
BITU vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITU Proshares Ultra Bitcoin ETF | -57.36% | -19.24% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 10.51% | 52.78% |
Correlation
The correlation between BITU and WNTR is -0.81, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.81 |
The correlation between BITU and WNTR has been stable across timeframes, ranging from -0.81 to -0.81 - a consistent structural relationship.
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Return for Risk
BITU vs. WNTR — Risk / Return Rank
BITU
WNTR
BITU vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultra Bitcoin ETF (BITU) and YieldMax MSTR Short Option Income Strategy ETF (WNTR). 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 | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.93 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.30 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.52 | -3.45 |
| Martin ratioReturn relative to average drawdown | -1.30 | 6.38 | -7.68 |
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Drawdowns
BITU vs. WNTR - Drawdown Comparison
The maximum BITU drawdown since its inception was -83.45%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for BITU and WNTR.
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Drawdown Indicators
| BITU | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.45% | -42.65% | -40.80% |
Max Drawdown (1Y)Largest decline over 1 year | -83.45% | -42.65% | -40.80% |
Current DrawdownCurrent decline from peak | -80.93% | -9.84% | -71.09% |
Average DrawdownAverage peak-to-trough decline | -37.68% | -20.15% | -17.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.52% | 16.83% | +42.69% |
Volatility
BITU vs. WNTR - Volatility Comparison
Proshares Ultra Bitcoin ETF (BITU) has a higher volatility of 17.53% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 13.00%. This indicates that BITU's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITU | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.53% | 13.00% | +4.53% |
Volatility (6M)Calculated over the trailing 6-month period | 68.01% | 47.22% | +20.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.40% | 54.66% | +33.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.01% | 53.34% | +42.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.01% | 53.34% | +42.67% |
BITU vs. WNTR - Expense Ratio Comparison
BITU has a 0.95% expense ratio, which is lower than WNTR's 1.00% expense ratio.
Dividends
BITU vs. WNTR - Dividend Comparison
BITU's dividend yield for the trailing twelve months is around 80.48%, less than WNTR's 107.26% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | 80.48% | 50.23% | 0.12% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 107.26% | 58.56% | 0.00% |
Frequently Asked Questions
BITU and WNTR have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITU has higher volatility (17.53%) compared to WNTR (13.00%). In terms of maximum drawdown, BITU dropped -83.45% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 106.92% vs -77.50% for BITU. On fees, BITU is cheaper at 0.95% per year. On volatility, WNTR has been the lower-risk option at 13.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, WNTR has performed better with a 106.92% return vs -77.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BITU is cheaper with a 0.95% expense ratio, compared with 1.00% for WNTR.
WNTR has the higher dividend yield at 107.26%, compared with 80.48% for BITU.
BITU is categorized as Cryptocurrency, while WNTR is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.95% for BITU and 1.00% for WNTR.
WNTR currently has the higher Sharpe Ratio (1.97 vs -0.88), 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.
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