EFU vs. BITU

Last updated Aug 4, 2026

EFU (ProShares UltraShort MSCI EAFE) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - EFU is a Leveraged Equities fund tracking the MSCI EAFE Index (-200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, EFU returned -35.56% vs -77.50% for BITU. Their -0.34 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

EFU vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort MSCI EAFE (EFU) and Proshares Ultra Bitcoin ETF (BITU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFU achieves a -21.36% return, which is significantly higher than BITU's -57.36% return.

EFU

• 1D: -0.66%
• 1M: -3.30%
• 6M: -12.53%
• YTD: -21.36%
• 1Y: -35.56%
• 3Y*: -25.18%
• 5Y*: -16.16%
• 10Y*: -19.65%
• ALL TIME*: -19.09%

BITU

• 1D: 2.86%
• 1M: 5.78%
• 6M: -44.05%
• YTD: -57.36%
• 1Y: -77.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -33.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITU Proshares Ultra Bitcoin ETF	$37.97M	$38.90M	$46.19M
EFU ProShares UltraShort MSCI EAFE	$26.57K	$37.75K	$56.26K

EFU vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFU ProShares UltraShort MSCI EAFE	-21.36%	-41.07%	9.26%
BITU Proshares Ultra Bitcoin ETF	-57.36%	-37.07%	41.85%

Correlation

The correlation between EFU and BITU is -0.41, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.41
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.34

Return for Risk

EFU vs. BITU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EFU

EFU Risk / Return Rank: 1
EFU Sharpe Ratio Rank: 1
EFU Sortino Ratio Rank: 2
EFU Omega Ratio Rank: 1
EFU Calmar Ratio Rank: 0
EFU Martin Ratio Rank: 0

BITU

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EFU vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) and Proshares Ultra Bitcoin ETF (BITU). 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.

	EFU	BITU	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	-0.88	-0.22
Sortino ratio: Return per unit of downside risk	-1.60	-1.66	+0.06
Omega ratio: Gain probability vs. loss probability	0.82	0.82	0.00
Calmar ratio: Return relative to maximum drawdown	-1.04	-0.93	-0.11
Martin ratio: Return relative to average drawdown	-1.67	-1.30	-0.36

EFU vs. BITU - Sharpe Ratio Comparison

The current EFU Sharpe Ratio is -1.10, which is comparable to the BITU Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of EFU and BITU, 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

EFU vs. BITU - Drawdown Comparison

The maximum EFU drawdown since its inception was -99.39%, which is greater than BITU's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for EFU and BITU.

Drawdown Indicators

	EFU	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-99.39%	-83.45%	-15.94%
Max Drawdown (1Y) Largest decline over 1 year	-34.17%	-83.45%	+49.28%
Max Drawdown (3Y) Largest decline over 3 years	-65.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-76.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-89.39%	—	—
Current Drawdown Current decline from peak	-99.39%	-80.93%	-18.46%
Average Drawdown Average peak-to-trough decline	-87.22%	-37.68%	-49.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.06%	59.52%	-36.46%

Volatility

EFU vs. BITU - Volatility Comparison

The current volatility for ProShares UltraShort MSCI EAFE (EFU) is 9.16%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 17.53%. This indicates that EFU experiences smaller price fluctuations and is considered to be less risky than BITU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFU	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.16%	17.53%	-8.37%
Volatility (6M) Calculated over the trailing 6-month period	28.75%	68.01%	-39.26%
Volatility (1Y) Calculated over the trailing 1-year period	32.55%	88.40%	-55.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.67%	96.01%	-62.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.62%	96.01%	-62.39%

EFU vs. BITU - Expense Ratio Comparison

Both EFU and BITU have an expense ratio of 0.95%.

Dividends

EFU vs. BITU - Dividend Comparison

EFU's dividend yield for the trailing twelve months is around 5.21%, less than BITU's 80.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITU Proshares Ultra Bitcoin ETF	80.48%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EFU ProShares UltraShort MSCI EAFE	5.21%	5.57%	3.87%	6.41%	1.47%	0.00%	0.06%	0.95%	0.17%

Frequently Asked Questions

Can I hold both EFU and BITU in my portfolio?

EFU and BITU have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFU or BITU?

BITU has higher volatility (17.53%) compared to EFU (9.16%). In terms of maximum drawdown, EFU dropped -99.39% vs BITU's -83.45%.

Which ETF is better, EFU or BITU?

On 1-year performance, EFU leads with -35.56% vs -77.50% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, EFU has been the lower-risk option at 9.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFU or BITU?

Over the 1-year period, EFU has performed better with a -35.56% return vs -77.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFU or BITU?

EFU and BITU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, EFU or BITU?

BITU has the higher dividend yield at 80.48%, compared with 5.21% for EFU.

What is the main difference between EFU and BITU?

EFU is categorized as Leveraged Equities, while BITU is Cryptocurrency. EFU tracks MSCI EAFE Index (-200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

BITU currently has the higher Sharpe Ratio (-0.88 vs -1.10), 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.