EETH vs. BITX

Last updated Jun 24, 2026

EETH (ProShares Ether Strategy ETF) and BITX (2x Bitcoin Strategy ETF) are both Cryptocurrency funds. EETH is actively managed, while BITX is passively managed. Over the past year, EETH returned -31.81% vs -74.26% for BITX. Their correlation of 0.81 suggests significant overlap in exposure. EETH charges 0.95%/yr vs 2.38%/yr for BITX.

Performance

EETH vs. BITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) and 2x Bitcoin Strategy ETF (BITX). 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 higher than BITX's -57.54% return.

EETH

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

BITX

• 1D: -6.62%
• 1M: -34.22%
• YTD: -57.54%
• 6M: -57.83%
• 1Y: -74.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EETH vs. BITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-45.17%	-17.19%	33.29%	31.40%
BITX 2x Bitcoin Strategy ETF	-57.54%	-38.71%	163.41%	113.91%

Correlation

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

Return for Risk

EETH vs. BITX — 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

BITX

BITX Risk / Return Rank: 2
BITX Sharpe Ratio Rank: 2
BITX Sortino Ratio Rank: 1
BITX Omega Ratio Rank: 2
BITX Calmar Ratio Rank: 1
BITX 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.

EETH vs. BITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) and 2x Bitcoin Strategy ETF (BITX). 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	BITX	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	-0.85	+0.39
Sortino ratio: Return per unit of downside risk	-0.30	-1.48	+1.18
Omega ratio: Gain probability vs. loss probability	0.97	0.84	+0.13
Calmar ratio: Return relative to maximum drawdown	-0.46	-0.91	+0.44
Martin ratio: Return relative to average drawdown	-0.77	-1.40	+0.63

EETH vs. BITX - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.46, which is higher than the BITX Sharpe Ratio of -0.85. The chart below compares the historical Sharpe Ratios of EETH and BITX, 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. BITX - Drawdown Comparison

The maximum EETH drawdown since its inception was -68.70%, smaller than the maximum BITX drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for EETH and BITX.

Drawdown Indicators

	EETH	BITX	Difference
Max Drawdown Largest peak-to-trough decline	-68.70%	-82.16%	+13.46%
Max Drawdown (1Y) Largest decline over 1 year	-68.70%	-82.16%	+13.46%
Current Drawdown Current decline from peak	-67.08%	-81.23%	+14.15%
Average Drawdown Average peak-to-trough decline	-30.17%	-32.50%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.47%	53.22%	-11.75%

Volatility

EETH vs. BITX - Volatility Comparison

The current volatility for ProShares Ether Strategy ETF (EETH) is 19.49%, while 2x Bitcoin Strategy ETF (BITX) has a volatility of 26.10%. This indicates that EETH experiences smaller price fluctuations and is considered to be less risky than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EETH	BITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.49%	26.10%	-6.61%
Volatility (6M) Calculated over the trailing 6-month period	46.97%	69.46%	-22.49%
Volatility (1Y) Calculated over the trailing 1-year period	69.41%	87.90%	-18.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.09%	98.18%	-29.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.09%	98.18%	-29.09%

EETH vs. BITX - Expense Ratio Comparison

EETH has a 0.95% expense ratio, which is lower than BITX's 2.38% expense ratio.

Dividends

EETH vs. BITX - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 96.89%, more than BITX's 37.54% yield.

Position	TTM	2025	2024	2023
BITX 2x Bitcoin Strategy ETF	37.54%	21.69%	10.70%	0.00%
EETH ProShares Ether Strategy ETF	96.89%	56.98%	10.82%	0.52%

Frequently Asked Questions

Can I hold both EETH and BITX in my portfolio?

EETH and BITX 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 BITX?

BITX has higher volatility (26.10%) compared to EETH (19.49%). In terms of maximum drawdown, EETH dropped -68.70% vs BITX's -82.16%.

Which ETF is better, EETH or BITX?

On 1-year performance, EETH leads with -31.81% vs -74.26% for BITX. On fees, EETH is cheaper at 0.95% per year. On volatility, EETH has been the lower-risk option at 19.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or BITX?

Over the 1-year period, EETH has performed better with a -31.81% return vs -74.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or BITX?

EETH is cheaper with a 0.95% expense ratio, compared with 2.38% for BITX.

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

EETH has the higher dividend yield at 96.89%, compared with 37.54% for BITX.

What is the main difference between EETH and BITX?

They also come from different issuers: ProShares and Volatility Shares. Their fees differ too: 0.95% for EETH and 2.38% for BITX.

Which has better risk-adjusted returns?

EETH currently has the higher Sharpe Ratio (-0.46 vs -0.85), 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.