EET vs. BITO

Last updated Jun 25, 2026

EET (ProShares Ultra MSCI Emerging Markets) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while BITO is a Cryptocurrency fund actively managed by ProShares. EET is passively managed, while BITO is actively managed. Over the past 3 years, EET returned 34.98%/yr vs 16.49%/yr for BITO. At a 0.39 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

EET vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI Emerging Markets (EET) 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, EET achieves a 41.10% return, which is significantly higher than BITO's -32.58% return.

EET

• 1D: -0.60%
• 1M: 2.69%
• YTD: 41.10%
• 6M: 42.83%
• 1Y: 81.79%
• 3Y*: 34.98%
• 5Y*: 2.48%
• 10Y*: 10.67%

BITO

• 1D: -3.78%
• 1M: -21.14%
• YTD: -32.58%
• 6M: -32.41%
• 1Y: -45.57%
• 3Y*: 16.49%
• 5Y*: —
• 10Y*: —

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

EET vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EET ProShares Ultra MSCI Emerging Markets	41.10%	63.14%	2.88%	7.06%	-43.07%	-9.15%
BITO ProShares Bitcoin Strategy ETF	-32.58%	-11.19%	104.45%	137.33%	-63.91%	-29.31%

Correlation

The correlation between EET and BITO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021	0.39

The correlation between EET and BITO shifts across timeframes, from 0.33 (3 years) to 0.48 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EET vs. BITO — Risk / Return Rank

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

EET

EET Risk / Return Rank: 62
EET Sharpe Ratio Rank: 63
EET Sortino Ratio Rank: 51
EET Omega Ratio Rank: 61
EET Calmar Ratio Rank: 70
EET Martin Ratio Rank: 67

BITO

BITO Risk / Return Rank: 1
BITO Sharpe Ratio Rank: 1
BITO Sortino Ratio Rank: 1
BITO Omega Ratio Rank: 1
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 1

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. BITO - Risk-Adjusted Trends Comparison

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

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	BITO	Difference
Sharpe ratio: Return per unit of total volatility	1.83	-1.04	+2.87
Sortino ratio: Return per unit of downside risk	2.24	-1.56	+3.80
Omega ratio: Gain probability vs. loss probability	1.33	0.83	+0.50
Calmar ratio: Return relative to maximum drawdown	3.12	-0.85	+3.97
Martin ratio: Return relative to average drawdown	10.84	-1.45	+12.29

EET vs. BITO - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.83, which is higher than the BITO Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of EET 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.

Drawdowns

EET vs. BITO - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for EET and BITO.

Drawdown Indicators

	EET	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-71.66%	-77.86%	+6.20%
Max Drawdown (1Y) Largest decline over 1 year	-26.38%	-53.50%	+27.12%
Max Drawdown (3Y) Largest decline over 3 years	-34.89%	-53.50%	+18.61%
Max Drawdown (5Y) Largest decline over 5 years	-64.51%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-11.38%	-53.50%	+42.12%
Average Drawdown Average peak-to-trough decline	-37.16%	-36.87%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	31.47%	-23.90%

Volatility

EET vs. BITO - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 25.42% compared to ProShares Bitcoin Strategy ETF (BITO) at 13.03%. This indicates that EET'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

	EET	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.42%	13.03%	+12.39%
Volatility (6M) Calculated over the trailing 6-month period	41.30%	34.32%	+6.98%
Volatility (1Y) Calculated over the trailing 1-year period	45.20%	44.22%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.04%	55.03%	-15.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.96%	55.03%	-14.07%

EET vs. BITO - Expense Ratio Comparison

Both EET and BITO have an expense ratio of 0.95%.

Dividends

EET vs. BITO - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.34%, less than BITO's 73.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITO ProShares Bitcoin Strategy ETF	73.86%	78.29%	61.59%	15.14%	0.00%	0.00%	0.00%	0.00%	0.00%
EET ProShares Ultra MSCI Emerging Markets	1.34%	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 BITO in my portfolio?

EET and BITO have a correlation of 0.48, 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 BITO?

EET has higher volatility (25.42%) compared to BITO (13.03%). In terms of maximum drawdown, EET dropped -71.66% vs BITO's -77.86%.

Which ETF is better, EET or BITO?

On 3-year performance, EET leads with 34.98% vs 16.49% for BITO. Both ETFs have the same 0.95% expense ratio. On volatility, BITO has been the lower-risk option at 13.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EET or BITO?

Over the 3-year period, EET has performed better with a 34.98% return vs 16.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EET or BITO?

EET and BITO have the same expense ratio: 0.95% per year.

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

BITO has the higher dividend yield at 73.86%, compared with 1.34% for EET.

What is the main difference between EET and BITO?

EET is categorized as Leveraged Equities, while BITO is Cryptocurrency.

Which has better risk-adjusted returns?

EET currently has the higher Sharpe Ratio (1.83 vs -1.04), 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.