BITX vs. USFR
BITX (2x Bitcoin Strategy ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 3 years, BITX returned 6.79%/yr vs 4.68%/yr for USFR. Their -0.01 correlation means they have often moved in opposite directions in the past. BITX charges 2.38%/yr vs 0.15%/yr for USFR.
Performance
BITX vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -56.44% return, which is significantly lower than USFR's 2.29% return.
BITX
- 1D
- 2.83%
- 1M
- 6.13%
- 6M
- -43.47%
- YTD
- -56.44%
- 1Y
- -77.31%
- 3Y*
- 6.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.89%
USFR
- 1D
- 0.02%
- 1M
- 0.36%
- 6M
- 1.91%
- YTD
- 2.29%
- 1Y
- 3.97%
- 3Y*
- 4.68%
- 5Y*
- 3.81%
- 10Y*
- 2.48%
- ALL TIME*
- 1.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $88.24M | $96.85M | $117.71M | |
| $329.70M | $258.22M | $246.25M |
BITX vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -56.44% | -38.71% | 163.41% | 46.18% |
USFR WisdomTree Floating Rate Treasury Fund | 2.29% | 4.23% | 5.47% | 2.64% |
Correlation
The correlation between BITX and USFR is -0.13, 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. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | -0.01 |
The correlation between BITX and USFR shifts across timeframes, from -0.13 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BITX vs. USFR — Risk / Return Rank
BITX
USFR
BITX vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and WisdomTree Floating Rate Treasury Fund (USFR). 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.
| BITX | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.52 | ||
| Sortino ratioReturn per unit of downside risk | -53.25 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 14.07 | -13.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 200.37 | -201.30 |
| Martin ratioReturn relative to average drawdown | -1.30 | 800.41 | -801.71 |
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Drawdowns
BITX vs. USFR - Drawdown Comparison
The maximum BITX drawdown since its inception was -83.45%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for BITX and USFR.
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Drawdown Indicators
| BITX | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.45% | -1.36% | -82.09% |
Max Drawdown (1Y)Largest decline over 1 year | -83.45% | -0.02% | -83.43% |
Max Drawdown (3Y)Largest decline over 3 years | -83.45% | -0.06% | -83.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -80.75% | 0.00% | -80.75% |
Average DrawdownAverage peak-to-trough decline | -34.25% | -0.15% | -34.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.65% | 0.00% | +59.65% |
Volatility
BITX vs. USFR - Volatility Comparison
2x Bitcoin Strategy ETF (BITX) has a higher volatility of 17.57% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that BITX's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.57% | 0.09% | +17.48% |
Volatility (6M)Calculated over the trailing 6-month period | 67.80% | 0.20% | +67.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.21% | 0.27% | +87.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.14% | 0.39% | +96.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.14% | 0.76% | +96.38% |
BITX vs. USFR - Expense Ratio Comparison
BITX has a 2.38% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
BITX vs. USFR - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 27.12%, more than USFR's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 27.12% | 21.69% | 10.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.79% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
BITX and USFR have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITX has higher volatility (17.57%) compared to USFR (0.09%). In terms of maximum drawdown, BITX dropped -83.45% vs USFR's -1.36%.
On 3-year performance, BITX leads with 6.79% vs 4.68% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITX has performed better with a 6.79% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 27.12%, compared with 3.79% for USFR.
BITX is categorized as Cryptocurrency, while USFR is Government Bonds. BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%), while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Volatility Shares and WisdomTree. Their fees differ too: 2.38% for BITX and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.64 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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