EFO vs. BITO
Compare and contrast key facts about ProShares Ultra MSCI EAFE (EFO) and ProShares Bitcoin Strategy ETF (BITO).
EFO and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EFO is a passively managed fund by ProShares that tracks the performance of the MSCI EAFE Index (200%). It was launched on Jun 2, 2009. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
EFO vs. BITO - Performance Comparison
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EFO vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EFO ProShares Ultra MSCI EAFE | 2.62% | 58.51% | -2.15% | 25.77% | -33.62% | -0.67% |
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, EFO achieves a 2.62% return, which is significantly higher than BITO's -22.79% return.
EFO
- 1D
- 2.70%
- 1M
- -10.01%
- YTD
- 2.62%
- 6M
- 8.73%
- 1Y
- 40.94%
- 3Y*
- 20.37%
- 5Y*
- 7.63%
- 10Y*
- 9.88%
BITO
- 1D
- 0.60%
- 1M
- -1.72%
- YTD
- -22.79%
- 6M
- -43.10%
- 1Y
- -23.27%
- 3Y*
- 24.87%
- 5Y*
- —
- 10Y*
- —
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EFO vs. BITO - Expense Ratio Comparison
Both EFO and BITO have an expense ratio of 0.95%.
Return for Risk
EFO vs. BITO — Risk / Return Rank
EFO
BITO
EFO vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI EAFE (EFO) 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.
| EFO | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.17 | -0.52 | +1.69 |
Sortino ratioReturn per unit of downside risk | 1.70 | -0.50 | +2.20 |
Omega ratioGain probability vs. loss probability | 1.24 | 0.94 | +0.29 |
Calmar ratioReturn relative to maximum drawdown | 1.86 | -0.42 | +2.28 |
Martin ratioReturn relative to average drawdown | 6.81 | -0.89 | +7.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EFO | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | -0.52 | +1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | -0.08 | +0.29 |
Correlation
The correlation between EFO and BITO is 0.36, 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
EFO vs. BITO - Dividend Comparison
EFO's dividend yield for the trailing twelve months is around 1.69%, less than BITO's 80.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EFO ProShares Ultra MSCI EAFE | 1.69% | 1.65% | 2.24% | 1.93% | 0.00% | 0.00% | 0.00% | 0.37% | 0.11% |
BITO ProShares Bitcoin Strategy ETF | 80.47% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
EFO vs. BITO - Drawdown Comparison
The maximum EFO drawdown since its inception was -63.52%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for EFO and BITO.
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Drawdown Indicators
| EFO | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.52% | -77.86% | +14.34% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -50.05% | +27.87% |
Max Drawdown (5Y)Largest decline over 5 years | -53.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -63.52% | — | — |
Current DrawdownCurrent decline from peak | -14.12% | -46.75% | +32.63% |
Average DrawdownAverage peak-to-trough decline | -18.78% | -36.57% | +17.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 23.73% | -17.67% |
Volatility
EFO vs. BITO - Volatility Comparison
ProShares Ultra MSCI EAFE (EFO) has a higher volatility of 14.52% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.84%. This indicates that EFO'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.
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Volatility by Period
| EFO | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.52% | 12.84% | +1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 22.02% | 36.71% | -14.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.16% | 45.32% | -10.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.57% | 55.77% | -23.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.88% | 55.77% | -21.89% |