EFAD vs. BITO

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares MSCI EAFE Dividend Growers ETF (EFAD) and ProShares Bitcoin Strategy ETF (BITO).

EFAD and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EFAD is a passively managed fund by ProShares that tracks the performance of the MSCI EAFE Dividend Masters Index. It was launched on Aug 19, 2014. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.

Performance

EFAD vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares MSCI EAFE Dividend Growers ETF (EFAD) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

EFAD vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EFAD ProShares MSCI EAFE Dividend Growers ETF	-0.30%	15.87%	-1.88%	11.91%	-21.34%	-0.73%
BITO ProShares Bitcoin Strategy ETF	-22.79%	-11.19%	104.45%	137.33%	-63.91%	-31.09%

Returns By Period

In the year-to-date period, EFAD achieves a -0.30% return, which is significantly higher than BITO's -22.79% return.

EFAD

• 1D: 1.40%
• 1M: -3.80%
• YTD: -0.30%
• 6M: -0.83%
• 1Y: 9.85%
• 3Y*: 6.18%
• 5Y*: 1.31%
• 10Y*: 4.14%

BITO

• 1D: 0.60%
• 1M: -1.72%
• YTD: -22.79%
• 6M: -43.10%
• 1Y: -23.27%
• 3Y*: 24.87%
• 5Y*: —
• 10Y*: —

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

EFAD vs. BITO - Expense Ratio Comparison

EFAD has a 0.50% expense ratio, which is lower than BITO's 0.95% expense ratio.

BITO

ProShares Bitcoin Strategy ETF

EFAD

ProShares MSCI EAFE Dividend Growers ETF

Return for Risk

EFAD vs. BITO — Risk / Return Rank

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

EFAD

EFAD Risk / Return Rank: 34
EFAD Sharpe Ratio Rank: 34
EFAD Sortino Ratio Rank: 34
EFAD Omega Ratio Rank: 31
EFAD Calmar Ratio Rank: 36
EFAD Martin Ratio Rank: 36

BITO

BITO Risk / Return Rank: 5
BITO Sharpe Ratio Rank: 4
BITO Sortino Ratio Rank: 4
BITO Omega Ratio Rank: 5
BITO Calmar Ratio Rank: 5
BITO Martin Ratio Rank: 5

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.

EFAD vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI EAFE Dividend Growers ETF (EFAD) 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.

	EFAD	BITO	Difference
Sharpe ratio Return per unit of total volatility	0.69	-0.52	+1.20
Sortino ratio Return per unit of downside risk	1.03	-0.50	+1.53
Omega ratio Gain probability vs. loss probability	1.13	0.94	+0.19
Calmar ratio Return relative to maximum drawdown	0.99	-0.42	+1.41
Martin ratio Return relative to average drawdown	3.58	-0.89	+4.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFAD vs. BITO - Sharpe Ratio Comparison

The current EFAD Sharpe Ratio is 0.69, which is higher than the BITO Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of EFAD and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EFAD	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	-0.52	+1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	-0.08	+0.24

Correlation

The correlation between EFAD and BITO is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EFAD vs. BITO - Dividend Comparison

EFAD's dividend yield for the trailing twelve months is around 2.89%, less than BITO's 80.47% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFAD ProShares MSCI EAFE Dividend Growers ETF	2.89%	2.83%	2.64%	2.29%	1.76%	2.98%	1.49%	2.05%	2.37%	2.42%	2.88%	1.94%
BITO ProShares Bitcoin Strategy ETF	80.47%	78.29%	61.59%	15.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EFAD vs. BITO - Drawdown Comparison

The maximum EFAD drawdown since its inception was -35.74%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for EFAD and BITO.

Drawdown Indicators

	EFAD	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-35.74%	-77.86%	+42.12%
Max Drawdown (1Y) Largest decline over 1 year	-10.18%	-50.05%	+39.87%
Max Drawdown (5Y) Largest decline over 5 years	-35.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.74%	—	—
Current Drawdown Current decline from peak	-5.85%	-46.75%	+40.90%
Average Drawdown Average peak-to-trough decline	-10.41%	-36.57%	+26.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	23.73%	-20.90%

Volatility

EFAD vs. BITO - Volatility Comparison

The current volatility for ProShares MSCI EAFE Dividend Growers ETF (EFAD) is 6.47%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.84%. This indicates that EFAD experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFAD	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.47%	12.84%	-6.37%
Volatility (6M) Calculated over the trailing 6-month period	9.85%	36.71%	-26.86%
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	45.32%	-30.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.27%	55.77%	-41.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.62%	55.77%	-40.15%