EMDV vs. BITO
EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - EMDV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Dividend Masters Index, while BITO is a Cryptocurrency fund actively managed by ProShares. EMDV is passively managed, while BITO is actively managed. Over the past 3 years, EMDV returned 2.28%/yr vs 18.00%/yr for BITO. At a 0.29 correlation, their price movements are largely independent. EMDV charges 0.60%/yr vs 0.95%/yr for BITO.
Performance
EMDV vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, EMDV achieves a -1.87% return, which is significantly higher than BITO's -29.93% return.
EMDV
- 1D
- -1.32%
- 1M
- -2.39%
- YTD
- -1.87%
- 6M
- -2.68%
- 1Y
- 4.25%
- 3Y*
- 2.28%
- 5Y*
- -3.40%
- 10Y*
- 2.45%
BITO
- 1D
- -3.31%
- 1M
- -18.05%
- YTD
- -29.93%
- 6M
- -30.03%
- 1Y
- -42.09%
- 3Y*
- 18.00%
- 5Y*
- —
- 10Y*
- —
EMDV vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF | -1.87% | 11.90% | 0.06% | -1.03% | -18.19% | -3.03% |
BITO ProShares Bitcoin Strategy ETF | -29.93% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between EMDV and BITO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.29 |
The correlation between EMDV and BITO shifts across timeframes, from 0.23 (3 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMDV vs. BITO — Risk / Return Rank
EMDV
BITO
EMDV vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) 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.
| EMDV | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.85 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | -0.80 | +1.38 |
| Martin ratioReturn relative to average drawdown | 1.67 | -1.35 | +3.02 |
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Drawdowns
EMDV vs. BITO - Drawdown Comparison
The maximum EMDV drawdown since its inception was -39.20%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for EMDV and BITO.
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Drawdown Indicators
| EMDV | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.20% | -77.86% | +38.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.24% | -53.10% | +45.86% |
Max Drawdown (3Y)Largest decline over 3 years | -20.71% | -53.10% | +32.39% |
Max Drawdown (5Y)Largest decline over 5 years | -34.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.20% | — | — |
Current DrawdownCurrent decline from peak | -17.36% | -51.67% | +34.31% |
Average DrawdownAverage peak-to-trough decline | -13.55% | -36.86% | +23.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 31.28% | -28.74% |
Volatility
EMDV vs. BITO - Volatility Comparison
The current volatility for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) is 4.26%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.79%. This indicates that EMDV 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.
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Volatility by Period
| EMDV | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.26% | 12.79% | -8.53% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 34.39% | -24.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.54% | 44.08% | -32.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.45% | 55.02% | -39.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 55.02% | -36.85% |
EMDV vs. BITO - Expense Ratio Comparison
EMDV has a 0.60% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
EMDV vs. BITO - Dividend Comparison
EMDV's dividend yield for the trailing twelve months is around 2.48%, less than BITO's 71.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 71.07% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF | 2.48% | 2.46% | 2.79% | 1.88% | 3.68% | 2.12% | 3.12% | 2.38% | 1.27% | 2.09% | 2.87% |
Frequently Asked Questions
EMDV and BITO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (12.79%) compared to EMDV (4.26%). In terms of maximum drawdown, EMDV dropped -39.20% vs BITO's -77.86%.
On 3-year performance, BITO leads with 18.00% vs 2.28% for EMDV. On fees, EMDV is cheaper at 0.60% per year. On volatility, EMDV has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 18.00% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMDV is cheaper with a 0.60% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 71.07%, compared with 2.48% for EMDV.
EMDV is categorized as Emerging Markets Equities, while BITO is Cryptocurrency. Their fees differ too: 0.60% for EMDV and 0.95% for BITO.
EMDV currently has the higher Sharpe Ratio (0.37 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.
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