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BITX vs. BITO
Performance
Risk-Adjusted Performance
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Volatility

BITX vs. BITO

Last updated May 23, 2025

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.

Correlation

The correlation between BITX and BITO is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Performance

BITX vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares 2x Bitcoin Strategy ETF (BITX) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

BITX:

0.50

BITO:

0.93

Sortino Ratio

BITX:

1.39

BITO:

1.54

Omega Ratio

BITX:

1.16

BITO:

1.18

Calmar Ratio

BITX:

0.82

BITO:

1.56

Martin Ratio

BITX:

1.63

BITO:

3.50

Ulcer Index

BITX:

30.91%

BITO:

13.91%

Daily Std Dev

BITX:

107.00%

BITO:

53.64%

Max Drawdown

BITX:

-61.28%

BITO:

-77.86%

Current Drawdown

BITX:

-11.57%

BITO:

0.00%

Returns By Period

In the year-to-date period, BITX achieves a 20.55% return, which is significantly higher than BITO's 16.35% return.

BITX

YTD

20.55%

1M

44.51%

6M

1.18%

1Y

52.90%

3Y*

N/A

5Y*

N/A

10Y*

N/A

BITO

YTD

16.35%

1M

20.84%

6M

9.17%

1Y

49.71%

3Y*

48.70%

5Y*

N/A

10Y*

N/A

*Annualized

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Volatility Shares 2x Bitcoin Strategy ETF

ProShares Bitcoin Strategy ETF

BITX vs. BITO - Expense Ratio Comparison

BITX has a 1.85% expense ratio, which is higher than BITO's 0.95% expense ratio.

BITX
Volatility Shares 2x Bitcoin Strategy ETF
BITO
ProShares Bitcoin Strategy ETF

Risk-Adjusted Performance

BITX vs. BITO — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BITX
The Risk-Adjusted Performance Rank of BITX is 6767
Overall Rank
The Sharpe Ratio Rank of BITX is 5252
Sharpe Ratio Rank
The Sortino Ratio Rank of BITX is 8181
Sortino Ratio Rank
The Omega Ratio Rank of BITX is 7474
Omega Ratio Rank
The Calmar Ratio Rank of BITX is 7676
Calmar Ratio Rank
The Martin Ratio Rank of BITX is 5151
Martin Ratio Rank
BITO
The Risk-Adjusted Performance Rank of BITO is 8282
Overall Rank
The Sharpe Ratio Rank of BITO is 8181
Sharpe Ratio Rank
The Sortino Ratio Rank of BITO is 8484
Sortino Ratio Rank
The Omega Ratio Rank of BITO is 7878
Omega Ratio Rank
The Calmar Ratio Rank of BITO is 9090
Calmar Ratio Rank
The Martin Ratio Rank of BITO is 7878
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.

The current BITX Sharpe Ratio is 0.50, which is lower than the BITO Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of BITX and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

BITX vs. BITO - Dividend Comparison

BITX's dividend yield for the trailing twelve months is around 9.55%, less than BITO's 54.14% yield.

TTM20242023
BITX
Volatility Shares 2x Bitcoin Strategy ETF		9.55%10.70%0.00%
BITO
ProShares Bitcoin Strategy ETF		54.14%61.58%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.

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Volatility

BITX vs. BITO - Volatility Comparison

Volatility Shares 2x Bitcoin Strategy ETF (BITX) has a higher volatility of 16.43% compared to ProShares Bitcoin Strategy ETF (BITO) at 8.35%. 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.

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