EET vs. BITI

Last updated Jul 14, 2026

EET (ProShares Ultra MSCI Emerging Markets) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, EET returned 27.46%/yr vs -30.65%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. EET charges 0.95%/yr vs 1.03%/yr for BITI.

Performance

EET vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI Emerging Markets (EET) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EET having a 29.50% return and BITI slightly lower at 28.75%.

EET

• 1D: -7.04%
• 1M: -9.71%
• 6M: 15.99%
• YTD: 29.50%
• 1Y: 65.15%
• 3Y*: 27.46%
• 5Y*: 1.94%
• 10Y*: 7.88%

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

EET vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EET ProShares Ultra MSCI Emerging Markets	29.50%	63.14%	2.88%	7.06%	-11.86%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between EET and BITI is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.46
Correlation (3Y) Calculated over the trailing 3-year period	-0.32
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.35

The correlation between EET and BITI shifts across timeframes, from -0.46 (1 year) to -0.32 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

EET vs. BITI — Risk / Return Rank

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

EET

EET Risk / Return Rank: 54
EET Sharpe Ratio Rank: 51
EET Sortino Ratio Rank: 45
EET Omega Ratio Rank: 53
EET Calmar Ratio Rank: 63
EET Martin Ratio Rank: 59

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

EET vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) and ProShares Short Bitcoin ETF (BITI). 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.

	EET	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.56	-0.17
Sortino ratio: Return per unit of downside risk	1.86	2.13	-0.27
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	2.48	2.72	-0.24
Martin ratio: Return relative to average drawdown	8.10	6.78	+1.32

EET vs. BITI - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.39, which is comparable to the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of EET and BITI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EET vs. BITI - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for EET and BITI.

Drawdown Indicators

	EET	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-71.66%	-92.16%	+20.50%
Max Drawdown (1Y) Largest decline over 1 year	-26.38%	-25.28%	-1.10%
Max Drawdown (3Y) Largest decline over 3 years	-34.89%	-84.63%	+49.74%
Max Drawdown (5Y) Largest decline over 5 years	-62.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-18.67%	-85.94%	+67.27%
Average Drawdown Average peak-to-trough decline	-37.10%	-68.34%	+31.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.07%	10.11%	-2.04%

Volatility

EET vs. BITI - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 22.93% compared to ProShares Short Bitcoin ETF (BITI) at 11.38%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EET	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.93%	11.38%	+11.55%
Volatility (6M) Calculated over the trailing 6-month period	43.32%	34.25%	+9.07%
Volatility (1Y) Calculated over the trailing 1-year period	47.07%	44.14%	+2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.43%	52.28%	-12.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.05%	52.28%	-11.23%

EET vs. BITI - Expense Ratio Comparison

EET has a 0.95% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

EET vs. BITI - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.55%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%
EET ProShares Ultra MSCI Emerging Markets	1.55%	1.82%	3.85%	2.14%	0.00%	0.00%	0.01%	1.40%	0.16%

Frequently Asked Questions

Can I hold both EET and BITI in my portfolio?

EET and BITI have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EET or BITI?

EET has higher volatility (22.93%) compared to BITI (11.38%). In terms of maximum drawdown, EET dropped -71.66% vs BITI's -92.16%.

Which ETF is better, EET or BITI?

On 3-year performance, EET leads with 27.46% vs -30.65% for BITI. On fees, EET is cheaper at 0.95% per year. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EET or BITI?

Over the 3-year period, EET has performed better with a 27.46% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EET or BITI?

EET is cheaper with a 0.95% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, EET or BITI?

BITI has the higher dividend yield at 15.10%, compared with 1.55% for EET.

What is the main difference between EET and BITI?

EET is categorized as Leveraged Equities, while BITI is Cryptocurrency. EET tracks MSCI Emerging Markets Index (200%), while BITI tracks Bloomberg Bitcoin Index. Their fees differ too: 0.95% for EET and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 1.39), 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.