BITX vs. TQQQ
BITX (2x Bitcoin Strategy ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past year, BITX returned -76.33% vs 98.25% for TQQQ. At a 0.37 correlation, their price movements are largely independent. BITX charges 2.38%/yr vs 0.95%/yr for TQQQ.
Performance
BITX vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -59.63% return, which is significantly lower than TQQQ's 38.79% return.
BITX
- 1D
- -10.38%
- 1M
- -44.71%
- YTD
- -59.63%
- 6M
- -62.06%
- 1Y
- -76.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TQQQ
- 1D
- -14.28%
- 1M
- -4.23%
- YTD
- 38.79%
- 6M
- 30.51%
- 1Y
- 98.25%
- 3Y*
- 60.11%
- 5Y*
- 24.09%
- 10Y*
- 42.84%
BITX vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -59.63% | -38.71% | 163.41% | 47.23% |
TQQQ ProShares UltraPro QQQ | 38.79% | 34.35% | 58.27% | 30.16% |
Correlation
The correlation between BITX and TQQQ is 0.50, 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 | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023 | 0.37 |
The correlation between BITX and TQQQ shifts across timeframes, from 0.37 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BITX vs. TQQQ — Risk / Return Rank
BITX
TQQQ
BITX vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and ProShares UltraPro QQQ (TQQQ). 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.
| BITX | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -3.95 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.33 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.83 | -3.74 |
| Martin ratioReturn relative to average drawdown | -1.49 | 9.20 | -10.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITX | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.86 | 2.10 | -2.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.36 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.71 | -0.73 |
Drawdowns
BITX vs. TQQQ - Drawdown Comparison
The maximum BITX drawdown since its inception was -82.16%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for BITX and TQQQ.
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Drawdown Indicators
| BITX | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -81.66% | -0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -82.16% | -36.97% | -45.19% |
Max Drawdown (3Y)Largest decline over 3 years | — | -58.04% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -82.16% | -16.25% | -65.91% |
Average DrawdownAverage peak-to-trough decline | -31.83% | -18.52% | -13.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.55% | 11.33% | +39.22% |
Volatility
BITX vs. TQQQ - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) and ProShares UltraPro QQQ (TQQQ) have volatilities of 20.21% and 20.42%, 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.
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Volatility by Period
| BITX | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.21% | 20.42% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 68.69% | 39.33% | +29.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.44% | 49.81% | +37.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.39% | 66.79% | +31.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.39% | 66.11% | +32.28% |
BITX vs. TQQQ - Expense Ratio Comparison
BITX has a 2.38% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Dividends
BITX vs. TQQQ - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 39.27%, more than TQQQ's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 39.27% | 21.69% | 10.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.43% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
BITX and TQQQ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (20.42%) compared to BITX (20.21%). In terms of maximum drawdown, BITX dropped -82.16% vs TQQQ's -81.66%.
On 1-year performance, TQQQ leads with 98.25% vs -76.33% for BITX. On fees, TQQQ is cheaper at 0.95% per year. On volatility, BITX has been the lower-risk option at 20.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TQQQ has performed better with a 98.25% return vs -76.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TQQQ is cheaper with a 0.95% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 39.27%, compared with 0.43% for TQQQ.
BITX is categorized as Cryptocurrency, while TQQQ is Leveraged Equities. BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 2.38% for BITX and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (2.10 vs -0.86), 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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