EETH vs. BITO

Last updated Jun 24, 2026

EETH (ProShares Ether Strategy ETF) and BITO (ProShares Bitcoin Strategy ETF) are both Cryptocurrency funds from ProShares. Both are actively managed. Over the past year, EETH returned -31.81% vs -42.09% for BITO. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

EETH vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) 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, EETH achieves a -45.17% return, which is significantly lower than BITO's -29.93% return.

EETH

• 1D: -4.16%
• 1M: -19.80%
• YTD: -45.17%
• 6M: -45.15%
• 1Y: -31.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITO

• 1D: -3.31%
• 1M: -18.05%
• YTD: -29.93%
• 6M: -30.03%
• 1Y: -42.09%
• 3Y*: 18.00%
• 5Y*: —
• 10Y*: —

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

EETH vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-45.17%	-17.19%	33.29%	31.40%
BITO ProShares Bitcoin Strategy ETF	-29.93%	-11.19%	104.45%	52.46%

Correlation

The correlation between EETH and BITO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.81

The correlation between EETH and BITO has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

EETH vs. BITO — Risk / Return Rank

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

EETH

EETH Risk / Return Rank: 5
EETH Sharpe Ratio Rank: 5
EETH Sortino Ratio Rank: 6
EETH Omega Ratio Rank: 6
EETH Calmar Ratio Rank: 5
EETH Martin Ratio Rank: 5

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 1
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.

EETH vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) 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.

	EETH	BITO	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	-0.96	+0.50
Sortino ratio: Return per unit of downside risk	-0.30	-1.38	+1.08
Omega ratio: Gain probability vs. loss probability	0.97	0.85	+0.12
Calmar ratio: Return relative to maximum drawdown	-0.46	-0.80	+0.33
Martin ratio: Return relative to average drawdown	-0.77	-1.35	+0.58

EETH vs. BITO - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.46, which is higher than the BITO Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of EETH 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

EETH vs. BITO - Drawdown Comparison

The maximum EETH drawdown since its inception was -68.70%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for EETH and BITO.

Drawdown Indicators

	EETH	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-68.70%	-77.86%	+9.16%
Max Drawdown (1Y) Largest decline over 1 year	-68.70%	-53.10%	-15.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-53.10%	—
Current Drawdown Current decline from peak	-67.08%	-51.67%	-15.41%
Average Drawdown Average peak-to-trough decline	-30.17%	-36.86%	+6.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.47%	31.28%	+10.19%

Volatility

EETH vs. BITO - Volatility Comparison

ProShares Ether Strategy ETF (EETH) has a higher volatility of 19.49% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.79%. This indicates that EETH'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

	EETH	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.49%	12.79%	+6.70%
Volatility (6M) Calculated over the trailing 6-month period	46.97%	34.39%	+12.58%
Volatility (1Y) Calculated over the trailing 1-year period	69.41%	44.08%	+25.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.09%	55.02%	+14.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.09%	55.02%	+14.07%

EETH vs. BITO - Expense Ratio Comparison

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

Dividends

EETH vs. BITO - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 96.89%, more than BITO's 71.07% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	71.07%	78.29%	61.59%	15.14%
EETH ProShares Ether Strategy ETF	96.89%	56.98%	10.82%	0.52%

Frequently Asked Questions

Can I hold both EETH and BITO in my portfolio?

EETH and BITO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EETH or BITO?

EETH has higher volatility (19.49%) compared to BITO (12.79%). In terms of maximum drawdown, EETH dropped -68.70% vs BITO's -77.86%.

Which ETF is better, EETH or BITO?

On 1-year performance, EETH leads with -31.81% vs -42.09% for BITO. Both ETFs have the same 0.95% expense ratio. On volatility, BITO has been the lower-risk option at 12.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or BITO?

Over the 1-year period, EETH has performed better with a -31.81% return vs -42.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or BITO?

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

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

EETH has the higher dividend yield at 96.89%, compared with 71.07% for BITO.

Which has better risk-adjusted returns?

EETH currently has the higher Sharpe Ratio (-0.46 vs -0.96), 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.