BZQ vs. BITU
BZQ (ProShares UltraShort MSCI Brazil Capped) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - BZQ is a Leveraged Equities fund tracking the MSCI Brazil 25-50 (-200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, BZQ returned -55.71% vs -77.50% for BITU. Their -0.27 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
BZQ vs. BITU - Performance Comparison
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Returns By Period
In the year-to-date period, BZQ achieves a -31.18% return, which is significantly higher than BITU's -57.36% return.
BZQ
- 1D
- 1.68%
- 1M
- -11.20%
- 6M
- -3.41%
- YTD
- -31.18%
- 1Y
- -55.71%
- 3Y*
- -23.89%
- 5Y*
- -25.86%
- 10Y*
- -34.28%
- ALL TIME*
- -29.38%
BITU
- 1D
- 2.86%
- 1M
- 5.78%
- 6M
- -44.05%
- YTD
- -57.36%
- 1Y
- -77.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -33.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.97M | $38.90M | $46.19M | |
| $82.44K | $121.14K | $200.97K |
BZQ vs. BITU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | -31.18% | -57.90% | 65.85% |
BITU Proshares Ultra Bitcoin ETF | -57.36% | -37.07% | 41.85% |
Correlation
The correlation between BZQ and BITU is -0.37, 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. | -0.37 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.27 |
The correlation between BZQ and BITU shifts across timeframes, from -0.37 (1 year) to -0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BZQ vs. BITU — Risk / Return Rank
BZQ
BITU
BZQ vs. BITU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) and Proshares Ultra Bitcoin ETF (BITU). 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.
| BZQ | BITU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.82 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.93 | +0.06 |
| Martin ratioReturn relative to average drawdown | -1.28 | -1.30 | +0.03 |
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Drawdowns
BZQ vs. BITU - Drawdown Comparison
The maximum BZQ drawdown since its inception was -99.82%, which is greater than BITU's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for BZQ and BITU.
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Drawdown Indicators
| BZQ | BITU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.82% | -83.45% | -16.37% |
Max Drawdown (1Y)Largest decline over 1 year | -64.18% | -83.45% | +19.27% |
Max Drawdown (3Y)Largest decline over 3 years | -77.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -88.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -98.92% | — | — |
Current DrawdownCurrent decline from peak | -99.77% | -80.93% | -18.84% |
Average DrawdownAverage peak-to-trough decline | -84.66% | -37.68% | -46.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.64% | 59.52% | -14.88% |
Volatility
BZQ vs. BITU - Volatility Comparison
The current volatility for ProShares UltraShort MSCI Brazil Capped (BZQ) is 13.59%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 17.53%. This indicates that BZQ experiences smaller price fluctuations and is considered to be less risky than BITU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BZQ | BITU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.59% | 17.53% | -3.94% |
Volatility (6M)Calculated over the trailing 6-month period | 38.33% | 68.01% | -29.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.09% | 88.40% | -38.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.82% | 96.01% | -41.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.55% | 96.01% | -29.46% |
BZQ vs. BITU - Expense Ratio Comparison
Both BZQ and BITU have an expense ratio of 0.95%.
Dividends
BZQ vs. BITU - Dividend Comparison
BZQ's dividend yield for the trailing twelve months is around 8.02%, less than BITU's 80.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | 80.48% | 50.23% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BZQ ProShares UltraShort MSCI Brazil Capped | 8.02% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% |
Frequently Asked Questions
BZQ and BITU have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITU has higher volatility (17.53%) compared to BZQ (13.59%). In terms of maximum drawdown, BZQ dropped -99.82% vs BITU's -83.45%.
On 1-year performance, BZQ leads with -55.71% vs -77.50% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, BZQ has been the lower-risk option at 13.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BZQ has performed better with a -55.71% return vs -77.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BZQ and BITU have the same expense ratio: 0.95% per year.
BITU has the higher dividend yield at 80.48%, compared with 8.02% for BZQ.
BZQ is categorized as Leveraged Equities, while BITU is Cryptocurrency. BZQ tracks MSCI Brazil 25-50 (-200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.
BITU currently has the higher Sharpe Ratio (-0.88 vs -1.12), 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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