EMTY vs. BITU

Last updated Jun 4, 2026

EMTY (ProShares Decline of the Retail Store ETF) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - EMTY is a Inverse Equities fund tracking the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, EMTY returned 1.60% vs -73.07% for BITU. At a correlation of -0.27, they often move in opposite directions. EMTY charges 0.66%/yr vs 0.95%/yr for BITU.

Performance

EMTY vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Decline of the Retail Store ETF (EMTY) 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, EMTY achieves a 1.09% return, which is significantly higher than BITU's -52.92% return.

EMTY

• 1D: -0.32%
• 1M: 1.81%
• YTD: 1.09%
• 6M: 3.80%
• 1Y: 1.60%
• 3Y*: -4.69%
• 5Y*: -2.87%
• 10Y*: —

BITU

• 1D: -5.58%
• 1M: -34.84%
• YTD: -52.92%
• 6M: -59.11%
• 1Y: -73.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMTY vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMTY ProShares Decline of the Retail Store ETF	1.09%	-1.76%	-2.31%
BITU Proshares Ultra Bitcoin ETF	-52.92%	-37.07%	37.90%

Correlation

The correlation between EMTY and BITU is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.24
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	-0.27

Return for Risk

EMTY vs. BITU — Risk / Return Rank

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

EMTY

EMTY Risk / Return Rank: 10
EMTY Sharpe Ratio Rank: 10
EMTY Sortino Ratio Rank: 9
EMTY Omega Ratio Rank: 10
EMTY Calmar Ratio Rank: 10
EMTY Martin Ratio Rank: 10

BITU

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

EMTY vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) 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.

	EMTY	BITU	Difference
Sharpe ratio: Return per unit of total volatility	0.09	-0.84	+0.93
Sortino ratio: Return per unit of downside risk	0.24	-1.44	+1.68
Omega ratio: Gain probability vs. loss probability	1.03	0.84	+0.19
Calmar ratio: Return relative to maximum drawdown	0.11	-0.93	+1.04
Martin ratio: Return relative to average drawdown	0.20	-1.47	+1.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMTY vs. BITU - Sharpe Ratio Comparison

The current EMTY Sharpe Ratio is 0.09, which is higher than the BITU Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of EMTY 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.

Sharpe Ratios by Period

	EMTY	BITU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	-0.84	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.43	-0.35	-0.08

Drawdowns

EMTY vs. BITU - Drawdown Comparison

The maximum EMTY drawdown since its inception was -77.62%, roughly equal to the maximum BITU drawdown of -78.94%. Use the drawdown chart below to compare losses from any high point for EMTY and BITU.

Drawdown Indicators

	EMTY	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-77.62%	-78.94%	+1.32%
Max Drawdown (1Y) Largest decline over 1 year	-14.00%	-78.94%	+64.94%
Max Drawdown (3Y) Largest decline over 3 years	-30.83%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.83%	—	—
Current Drawdown Current decline from peak	-74.77%	-78.94%	+4.17%
Average Drawdown Average peak-to-trough decline	-54.01%	-34.49%	-19.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.11%	49.84%	-41.73%

Volatility

EMTY vs. BITU - Volatility Comparison

The current volatility for ProShares Decline of the Retail Store ETF (EMTY) is 6.00%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 18.99%. This indicates that EMTY 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

	EMTY	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	18.99%	-12.99%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	69.41%	-57.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.71%	87.00%	-69.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.36%	97.45%	-75.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.67%	97.45%	-71.78%

EMTY vs. BITU - Expense Ratio Comparison

EMTY has a 0.66% expense ratio, which is lower than BITU's 0.95% expense ratio.

Dividends

EMTY vs. BITU - Dividend Comparison

EMTY's dividend yield for the trailing twelve months is around 3.45%, less than BITU's 83.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BITU Proshares Ultra Bitcoin ETF	83.36%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMTY ProShares Decline of the Retail Store ETF	3.45%	3.83%	6.00%	4.41%	0.65%	0.00%	0.07%	0.82%	0.62%	0.03%

Frequently Asked Questions

Can I hold both EMTY and BITU in my portfolio?

EMTY and BITU have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMTY or BITU?

BITU has higher volatility (18.99%) compared to EMTY (6.00%). In terms of maximum drawdown, EMTY dropped -77.62% vs BITU's -78.94%.

Which ETF is better, EMTY or BITU?

On 1-year performance, EMTY leads with 1.60% vs -73.07% for BITU. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMTY or BITU?

Over the 1-year period, EMTY has performed better with a 1.60% return vs -73.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMTY or BITU?

EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for BITU.

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

BITU has the higher dividend yield at 83.36%, compared with 3.45% for EMTY.

What is the main difference between EMTY and BITU?

EMTY is categorized as Inverse Equities, while BITU is Cryptocurrency. EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross. Their fees differ too: 0.66% for EMTY and 0.95% for BITU.

Which has better risk-adjusted returns?

EMTY currently has the higher Sharpe Ratio (0.09 vs -0.84), 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.