BTG-USD vs. BITO
BTG-USD (Bitcoin Gold) is a cryptocurrency, while BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares. Over the past 3 years, BTG-USD returned -73.49%/yr vs 22.23%/yr for BITO. At a 0.27 correlation, their price movements are largely independent.
Performance
BTG-USD vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, BTG-USD achieves a -69.73% return, which is significantly lower than BITO's -32.00% return.
BTG-USD
- 1D
- -32.45%
- 1M
- -64.54%
- YTD
- -69.73%
- 6M
- -44.71%
- 1Y
- -69.06%
- 3Y*
- -73.49%
- 5Y*
- -67.20%
- 10Y*
- —
BITO
- 1D
- -4.97%
- 1M
- -26.17%
- YTD
- -32.00%
- 6M
- -33.58%
- 1Y
- -43.17%
- 3Y*
- 22.23%
- 5Y*
- —
- 10Y*
- —
BTG-USD vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTG-USD Bitcoin Gold | -69.73% | -92.37% | -56.73% | 85.84% | -70.99% | -42.94% |
BITO ProShares Bitcoin Strategy ETF | -32.00% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Correlation
The correlation between BTG-USD and BITO is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021 | 0.27 |
Over the past year, the correlation between BTG-USD and BITO has dropped to 0.06 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.
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Return for Risk
BTG-USD vs. BITO — Risk / Return Rank
BTG-USD
BITO
BTG-USD vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin Gold (BTG-USD) 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.
| BTG-USD | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +9.40 | ||
| Omega ratioGain probability vs. loss probability | 1.85 | 0.84 | +1.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.82 | +0.08 |
| Martin ratioReturn relative to average drawdown | -0.95 | -1.47 | +0.52 |
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
| BTG-USD | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.07 | -0.99 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.15 | -0.12 | -0.03 |
Drawdowns
BTG-USD vs. BITO - Drawdown Comparison
The maximum BTG-USD drawdown since its inception was -99.96%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BTG-USD and BITO.
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Drawdown Indicators
| BTG-USD | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -77.86% | -22.10% |
Max Drawdown (1Y)Largest decline over 1 year | -93.80% | -53.10% | -40.70% |
Max Drawdown (3Y)Largest decline over 3 years | -99.67% | -53.10% | -46.57% |
Max Drawdown (5Y)Largest decline over 5 years | -99.77% | — | — |
Current DrawdownCurrent decline from peak | -99.95% | -53.10% | -46.85% |
Average DrawdownAverage peak-to-trough decline | -93.34% | -36.76% | -56.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.69% | 29.46% | +35.23% |
Volatility
BTG-USD vs. BITO - Volatility Comparison
Bitcoin Gold (BTG-USD) has a higher volatility of 117.63% compared to ProShares Bitcoin Strategy ETF (BITO) at 9.76%. This indicates that BTG-USD'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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Volatility by Period
| BTG-USD | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 117.63% | 9.76% | +107.87% |
Volatility (6M)Calculated over the trailing 6-month period | 594.15% | 33.97% | +560.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 792.69% | 43.86% | +748.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 376.47% | 55.13% | +321.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 300.06% | 55.13% | +244.93% |
Frequently Asked Questions
BTG-USD and BITO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTG-USD has higher volatility (117.63%) compared to BITO (9.76%). In terms of maximum drawdown, BTG-USD dropped -99.96% vs BITO's -77.86%.
BTG-USD currently has the higher Sharpe Ratio (-0.07 vs -0.99), 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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