DAT vs. BITO

Last updated Jun 5, 2026

DAT (ProShares Big Data Refiners ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - DAT is a Technology Equities fund tracking the FactSet Big Data Refiners Index, while BITO is a Cryptocurrency fund actively managed by ProShares. DAT is passively managed, while BITO is actively managed. Over the past 3 years, DAT returned 16.40%/yr vs 26.82%/yr for BITO. At a 0.45 correlation, their price movements are largely independent. DAT charges 0.58%/yr vs 0.95%/yr for BITO.

Performance

DAT vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Big Data Refiners ETF (DAT) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAT achieves a -1.79% return, which is significantly higher than BITO's -28.44% return.

DAT

• 1D: 1.36%
• 1M: 17.11%
• YTD: -1.79%
• 6M: -0.83%
• 1Y: -3.18%
• 3Y*: 16.40%
• 5Y*: —
• 10Y*: —

BITO

• 1D: -2.81%
• 1M: -22.52%
• YTD: -28.44%
• 6M: -32.46%
• 1Y: -41.98%
• 3Y*: 26.82%
• 5Y*: —
• 10Y*: —

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

DAT vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAT ProShares Big Data Refiners ETF	-1.79%	3.49%	33.22%	51.76%	-44.33%	-9.33%
BITO ProShares Bitcoin Strategy ETF	-28.44%	-11.19%	104.45%	137.33%	-63.91%	-31.09%

Correlation

The correlation between DAT and BITO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021	0.45

DAT vs. BITO - Sectors Allocation Comparison

Sectors	DAT	BITO
Technology	97.1%	-
Communication Services	2.2%	-
Utilities	1.2%	-
Healthcare	0.8%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	68.5%
Industrials	-	-
Real Estate	-	-

Return for Risk

DAT vs. BITO — Risk / Return Rank

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

DAT

DAT Risk / Return Rank: 8
DAT Sharpe Ratio Rank: 8
DAT Sortino Ratio Rank: 8
DAT Omega Ratio Rank: 8
DAT Calmar Ratio Rank: 8
DAT Martin Ratio Rank: 8

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
BITO Sortino Ratio Rank: 2
BITO Omega Ratio Rank: 2
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 2

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.

DAT vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Big Data Refiners ETF (DAT) 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.

	DAT	BITO	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	-0.97	+0.86
Sortino ratio: Return per unit of downside risk	0.06	-1.39	+1.45
Omega ratio: Gain probability vs. loss probability	1.01	0.84	+0.16
Calmar ratio: Return relative to maximum drawdown	-0.09	-0.83	+0.74
Martin ratio: Return relative to average drawdown	-0.21	-1.44	+1.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DAT vs. BITO - Sharpe Ratio Comparison

The current DAT Sharpe Ratio is -0.11, which is higher than the BITO Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of DAT and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DAT	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	-0.97	+0.86
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	-0.10	+0.16

Drawdowns

DAT vs. BITO - Drawdown Comparison

The maximum DAT drawdown since its inception was -56.22%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for DAT and BITO.

Drawdown Indicators

	DAT	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-56.22%	-77.86%	+21.64%
Max Drawdown (1Y) Largest decline over 1 year	-34.70%	-50.64%	+15.94%
Max Drawdown (3Y) Largest decline over 3 years	-34.73%	-50.64%	+15.91%
Current Drawdown Current decline from peak	-8.86%	-50.64%	+41.78%
Average Drawdown Average peak-to-trough decline	-26.22%	-36.75%	+10.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.11%	29.27%	-14.16%

Volatility

DAT vs. BITO - Volatility Comparison

ProShares Big Data Refiners ETF (DAT) has a higher volatility of 13.57% compared to ProShares Bitcoin Strategy ETF (BITO) at 9.03%. This indicates that DAT'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

	DAT	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.57%	9.03%	+4.54%
Volatility (6M) Calculated over the trailing 6-month period	25.04%	33.71%	-8.67%
Volatility (1Y) Calculated over the trailing 1-year period	29.79%	43.61%	-13.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.01%	55.10%	-21.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.01%	55.10%	-21.09%

DAT vs. BITO - Expense Ratio Comparison

DAT has a 0.58% expense ratio, which is lower than BITO's 0.95% expense ratio.

Dividends

DAT vs. BITO - Dividend Comparison

DAT has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 69.59%.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	69.59%	78.29%	61.59%	15.14%
DAT ProShares Big Data Refiners ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAT and BITO in my portfolio?

DAT and BITO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAT or BITO?

DAT has higher volatility (13.57%) compared to BITO (9.03%). In terms of maximum drawdown, DAT dropped -56.22% vs BITO's -77.86%.

Which ETF is better, DAT or BITO?

On 3-year performance, BITO leads with 26.82% vs 16.40% for DAT. On fees, DAT is cheaper at 0.58% per year. On volatility, BITO has been the lower-risk option at 9.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAT or BITO?

Over the 3-year period, BITO has performed better with a 26.82% return vs 16.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAT or BITO?

DAT is cheaper with a 0.58% expense ratio, compared with 0.95% for BITO.

Which ETF pays a higher dividend yield, DAT or BITO?

BITO has the higher dividend yield at 69.59%, compared with 0.00% for DAT.

What is the main difference between DAT and BITO?

DAT is categorized as Technology Equities, while BITO is Cryptocurrency. Their fees differ too: 0.58% for DAT and 0.95% for BITO.

Which has better risk-adjusted returns?

DAT currently has the higher Sharpe Ratio (-0.11 vs -0.97), 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.