BTCU vs. ETHT

Last updated Jul 21, 2026

BTCU (Direxion Daily Bitcoin Bull 2X ETF) and ETHT (ProShares Ultra Ether ETF) are both exchange-traded funds - BTCU is a Leveraged Cryptocurrency fund actively managed by Direxion, while ETHT is a Cryptocurrency fund tracking the Bloomberg Ethereum Index (200%). BTCU is actively managed, while ETHT is passively managed. Their correlation of 0.91 suggests significant overlap in exposure.

Performance

BTCU vs. ETHT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Bitcoin Bull 2X ETF (BTCU) and ProShares Ultra Ether ETF (ETHT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BTCU

• 1D: 2.76%
• 1M: 4.80%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHT

• 1D: 5.91%
• 1M: 19.47%
• 6M: -76.43%
• YTD: -71.73%
• 1Y: -85.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTCU vs. ETHT - Yearly Performance Comparison

	2026 (YTD)
BTCU Direxion Daily Bitcoin Bull 2X ETF	-27.85%
ETHT ProShares Ultra Ether ETF	-23.39%

Correlation

The correlation between BTCU and ETHT is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	0.91

Return for Risk

BTCU vs. ETHT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTCU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ETHT

ETHT Risk / Return Rank: 3
ETHT Sharpe Ratio Rank: 4
ETHT Sortino Ratio Rank: 3
ETHT Omega Ratio Rank: 4
ETHT Calmar Ratio Rank: 1
ETHT Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTCU vs. ETHT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Bitcoin Bull 2X ETF (BTCU) and ProShares Ultra Ether ETF (ETHT). 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.

	BTCU	ETHT	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.64	—
Sortino ratio: Return per unit of downside risk	—	-1.06	—
Omega ratio: Gain probability vs. loss probability	—	0.88	—
Calmar ratio: Return relative to maximum drawdown	—	-0.91	—
Martin ratio: Return relative to average drawdown	—	-1.22	—

Drawdowns

BTCU vs. ETHT - Drawdown Comparison

The maximum BTCU drawdown since its inception was -40.67%, smaller than the maximum ETHT drawdown of -96.25%. Use the drawdown chart below to compare losses from any high point for BTCU and ETHT.

Drawdown Indicators

	BTCU	ETHT	Difference
Max Drawdown Largest peak-to-trough decline	-40.67%	-96.25%	+55.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-94.27%	—
Current Drawdown Current decline from peak	-27.99%	-94.58%	+66.59%
Average Drawdown Average peak-to-trough decline	-28.43%	-68.63%	+40.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	70.21%	—

Volatility

Volatility by Period

	BTCU	ETHT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	28.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	95.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	84.99%	134.83%	-49.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.99%	141.96%	-56.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.99%	141.96%	-56.97%

Dividends

BTCU vs. ETHT - Dividend Comparison

BTCU's dividend yield for the trailing twelve months is around 0.25%, less than ETHT's 16.93% yield.

Position	TTM	2025	2024
BTCU Direxion Daily Bitcoin Bull 2X ETF	0.25%	0.00%	0.00%
ETHT ProShares Ultra Ether ETF	16.93%	4.57%	0.02%

Frequently Asked Questions

Can I hold both BTCU and ETHT in my portfolio?

With a correlation of 0.91, BTCU and ETHT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF pays a higher dividend yield, BTCU or ETHT?

ETHT has the higher dividend yield at 16.93%, compared with 0.25% for BTCU.

What is the main difference between BTCU and ETHT?

BTCU is categorized as Leveraged Cryptocurrency, while ETHT is Cryptocurrency. They also come from different issuers: Direxion and ProShares.