CRPT vs. BITO

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) and ProShares Bitcoin Strategy ETF (BITO).

CRPT and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CRPT is an actively managed fund by First Trust. It was launched on Sep 20, 2021. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.

Performance

CRPT vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

CRPT vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CRPT First Trust SkyBridge Crypto Industry & Digital Economy ETF	-22.19%	-9.54%	75.29%	193.86%	-80.84%	-20.00%
BITO ProShares Bitcoin Strategy ETF	-22.79%	-11.19%	104.45%	137.33%	-63.91%	-31.09%

Returns By Period

The year-to-date returns for both stocks are quite close, with CRPT having a -22.19% return and BITO slightly lower at -22.79%.

CRPT

• 1D: 0.34%
• 1M: -8.32%
• YTD: -22.19%
• 6M: -48.39%
• 1Y: -7.87%
• 3Y*: 34.21%
• 5Y*: —
• 10Y*: —

BITO

• 1D: 0.60%
• 1M: -1.72%
• YTD: -22.79%
• 6M: -43.10%
• 1Y: -23.27%
• 3Y*: 24.87%
• 5Y*: —
• 10Y*: —

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

CRPT vs. BITO - Expense Ratio Comparison

CRPT has a 0.85% expense ratio, which is lower than BITO's 0.95% expense ratio.

BITO

ProShares Bitcoin Strategy ETF

CRPT

First Trust SkyBridge Crypto Industry & Digital Economy ETF

Return for Risk

CRPT vs. BITO — Risk / Return Rank

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

CRPT

CRPT Risk / Return Rank: 12
CRPT Sharpe Ratio Rank: 9
CRPT Sortino Ratio Rank: 14
CRPT Omega Ratio Rank: 13
CRPT Calmar Ratio Rank: 11
CRPT Martin Ratio Rank: 11

BITO

BITO Risk / Return Rank: 5
BITO Sharpe Ratio Rank: 4
BITO Sortino Ratio Rank: 4
BITO Omega Ratio Rank: 5
BITO Calmar Ratio Rank: 5
BITO Martin Ratio Rank: 5

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.

CRPT vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) 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.

	CRPT	BITO	Difference
Sharpe ratio Return per unit of total volatility	-0.12	-0.52	+0.39
Sortino ratio Return per unit of downside risk	0.29	-0.50	+0.79
Omega ratio Gain probability vs. loss probability	1.03	0.94	+0.09
Calmar ratio Return relative to maximum drawdown	-0.07	-0.42	+0.35
Martin ratio Return relative to average drawdown	-0.14	-0.89	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRPT vs. BITO - Sharpe Ratio Comparison

The current CRPT Sharpe Ratio is -0.12, which is higher than the BITO Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of CRPT 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.

Sharpe Ratios by Period

	CRPT	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	-0.52	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	-0.08	-0.05

Correlation

The correlation between CRPT and BITO is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CRPT vs. BITO - Dividend Comparison

CRPT's dividend yield for the trailing twelve months is around 0.97%, less than BITO's 80.47% yield.

	TTM	2025	2024	2023	2022	2021
CRPT First Trust SkyBridge Crypto Industry & Digital Economy ETF	0.97%	0.75%	1.84%	0.00%	0.03%	1.16%
BITO ProShares Bitcoin Strategy ETF	80.47%	78.29%	61.59%	15.14%	0.00%	0.00%

Drawdowns

CRPT vs. BITO - Drawdown Comparison

The maximum CRPT drawdown since its inception was -88.34%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for CRPT and BITO.

Drawdown Indicators

	CRPT	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-88.34%	-77.86%	-10.48%
Max Drawdown (1Y) Largest decline over 1 year	-56.46%	-50.05%	-6.41%
Current Drawdown Current decline from peak	-54.84%	-46.75%	-8.09%
Average Drawdown Average peak-to-trough decline	-52.95%	-36.57%	-16.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.05%	23.73%	+3.32%

Volatility

CRPT vs. BITO - Volatility Comparison

First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) has a higher volatility of 15.06% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.84%. This indicates that CRPT'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.

Volatility by Period

	CRPT	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.06%	12.84%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	47.90%	36.71%	+11.19%
Volatility (1Y) Calculated over the trailing 1-year period	64.40%	45.32%	+19.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.49%	55.77%	+17.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.49%	55.77%	+17.72%