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BTF vs. BITO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

BTF vs. BITO

Last updated May 11, 2025

Compare and contrast key facts about Valkyrie Bitcoin and Ether Strategy ETF (BTF) and ProShares Bitcoin Strategy ETF (BITO).

BTF and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTF is an actively managed fund by Valkyrie. It was launched on Oct 21, 2021. 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: BTF or BITO.

Correlation

The correlation between BTF and BITO is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Performance

BTF vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Valkyrie Bitcoin and Ether Strategy ETF (BTF) 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

BTF:

0.11

BITO:

1.02

Sortino Ratio

BTF:

0.57

BITO:

1.63

Omega Ratio

BTF:

1.07

BITO:

1.19

Calmar Ratio

BTF:

0.11

BITO:

1.72

Martin Ratio

BTF:

0.23

BITO:

3.87

Ulcer Index

BTF:

24.53%

BITO:

13.89%

Daily Std Dev

BTF:

60.64%

BITO:

54.51%

Max Drawdown

BTF:

-77.50%

BITO:

-77.86%

Current Drawdown

BTF:

-26.84%

BITO:

-5.86%

Returns By Period

In the year-to-date period, BTF achieves a -13.84% return, which is significantly lower than BITO's 8.21% return.

BTF

YTD

-13.84%

1M

42.08%

6M

-0.66%

1Y

10.28%

5Y*

N/A

10Y*

N/A

BITO

YTD

8.21%

1M

29.33%

6M

29.64%

1Y

59.74%

5Y*

N/A

10Y*

N/A

*Annualized

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BTF vs. BITO - Expense Ratio Comparison

BTF has a 1.24% expense ratio, which is higher than BITO's 0.95% expense ratio.

BTF
Valkyrie Bitcoin and Ether Strategy ETF
BITO
ProShares Bitcoin Strategy ETF

Risk-Adjusted Performance

BTF vs. BITO — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BTF
The Risk-Adjusted Performance Rank of BTF is 3131
Overall Rank
The Sharpe Ratio Rank of BTF is 2525
Sharpe Ratio Rank
The Sortino Ratio Rank of BTF is 4343
Sortino Ratio Rank
The Omega Ratio Rank of BTF is 3838
Omega Ratio Rank
The Calmar Ratio Rank of BTF is 2727
Calmar Ratio Rank
The Martin Ratio Rank of BTF is 2323
Martin Ratio Rank
BITO
The Risk-Adjusted Performance Rank of BITO is 8484
Overall Rank
The Sharpe Ratio Rank of BITO is 8383
Sharpe Ratio Rank
The Sortino Ratio Rank of BITO is 8585
Sortino Ratio Rank
The Omega Ratio Rank of BITO is 8080
Omega Ratio Rank
The Calmar Ratio Rank of BITO is 9292
Calmar Ratio Rank
The Martin Ratio Rank of BITO is 8181
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.

BTF vs. BITO - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Valkyrie Bitcoin and Ether Strategy ETF (BTF) 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 BTF Sharpe Ratio is 0.11, which is lower than the BITO Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of BTF 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

BTF vs. BITO - Dividend Comparison

BTF's dividend yield for the trailing twelve months is around 61.47%, more than BITO's 58.21% yield.

TTM20242023
BTF
Valkyrie Bitcoin and Ether Strategy ETF		61.47%52.96%15.98%
BITO
ProShares Bitcoin Strategy ETF		58.21%61.58%15.14%

Drawdowns

BTF vs. BITO - Drawdown Comparison

The maximum BTF drawdown since its inception was -77.50%, roughly equal to the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BTF and BITO. For additional features, visit the drawdowns tool.

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Volatility

BTF vs. BITO - Volatility Comparison

Valkyrie Bitcoin and Ether Strategy ETF (BTF) has a higher volatility of 16.74% compared to ProShares Bitcoin Strategy ETF (BITO) at 10.70%. This indicates that BTF'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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