BITX vs. BITO
Compare and contrast key facts about Volatility Shares 2x Bitcoin Strategy ETF (BITX) and ProShares Bitcoin Strategy ETF (BITO).
BITX and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITX is an actively managed fund by Volatility Shares. It was launched on Jun 27, 2023. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITX or BITO.
Key characteristics
| BITX | BITO | |
|---|---|---|
| YTD Return | 173.81% | 104.81% |
| 1Y Return | 244.30% | 134.95% |
| Sharpe Ratio | 1.85 | 2.14 |
| Sortino Ratio | 2.52 | 2.73 |
| Omega Ratio | 1.29 | 1.32 |
| Calmar Ratio | 3.47 | 2.47 |
| Martin Ratio | 6.54 | 9.18 |
| Ulcer Index | 32.50% | 13.50% |
| Daily Std Dev | 114.71% | 57.80% |
| Max Drawdown | -61.28% | -77.86% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between BITX and BITO is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BITX vs. BITO - Performance Comparison
In the year-to-date period, BITX achieves a 173.81% return, which is significantly higher than BITO's 104.81% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BITX vs. BITO - Expense Ratio Comparison
BITX has a 1.85% expense ratio, which is higher than BITO's 0.95% expense ratio.
Risk-Adjusted Performance
BITX vs. BITO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Bitcoin Strategy ETF (BITX) and ProShares Bitcoin Strategy ETF (BITO). 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.
Dividends
BITX vs. BITO - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 7.94%, less than BITO's 49.45% yield.
| TTM | 2023 | |
|---|---|---|
BITX Volatility Shares 2x Bitcoin Strategy ETF | 7.94% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 49.45% | 15.14% |
Drawdowns
BITX vs. BITO - Drawdown Comparison
The maximum BITX drawdown since its inception was -61.28%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BITX and BITO. For additional features, visit the drawdowns tool.
Volatility
BITX vs. BITO - Volatility Comparison
Volatility Shares 2x Bitcoin Strategy ETF (BITX) has a higher volatility of 36.00% compared to ProShares Bitcoin Strategy ETF (BITO) at 18.53%. This indicates that BITX's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.