EPV vs. BITU

Last updated Jun 3, 2026

EPV (ProShares UltraShort FTSE Europe) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - EPV is a Leveraged Equities fund tracking the FTSE All Cap Developed Europe (-200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, EPV returned -27.29% vs -70.45% for BITU. At a correlation of -0.33, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

EPV vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE Europe (EPV) 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, EPV achieves a -13.67% return, which is significantly higher than BITU's -50.14% return.

EPV

• 1D: -0.65%
• 1M: -4.35%
• YTD: -13.67%
• 6M: -19.13%
• 1Y: -27.29%
• 3Y*: -25.13%
• 5Y*: -18.48%
• 10Y*: -22.41%

BITU

• 1D: -11.77%
• 1M: -28.10%
• YTD: -50.14%
• 6M: -54.90%
• 1Y: -70.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EPV vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EPV ProShares UltraShort FTSE Europe	-13.67%	-45.21%	8.88%
BITU Proshares Ultra Bitcoin ETF	-50.14%	-37.07%	37.90%

Correlation

The correlation between EPV and BITU is -0.35, 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	-0.35
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	-0.33

EPV vs. BITU - Sectors Allocation Comparison

Sectors	EPV	BITU
Financial Services	35.3%	4.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

EPV vs. BITU — Risk / Return Rank

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

EPV

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

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.

EPV vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) 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.

	EPV	BITU	Difference
Sharpe ratio Return per unit of total volatility	-0.88	-0.81	-0.07
Sortino ratio Return per unit of downside risk	-1.18	-1.30	+0.11
Omega ratio Gain probability vs. loss probability	0.87	0.85	+0.01
Calmar ratio Return relative to maximum drawdown	-0.90	-0.91	+0.01
Martin ratio Return relative to average drawdown	-1.55	-1.42	-0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPV vs. BITU - Sharpe Ratio Comparison

The current EPV Sharpe Ratio is -0.88, which is comparable to the BITU Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of EPV 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

	EPV	BITU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.88	-0.81	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.62	-0.33	-0.29

Drawdowns

EPV vs. BITU - Drawdown Comparison

The maximum EPV drawdown since its inception was -99.38%, which is greater than BITU's maximum drawdown of -77.76%. Use the drawdown chart below to compare losses from any high point for EPV and BITU.

Drawdown Indicators

	EPV	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-99.38%	-77.76%	-21.62%
Max Drawdown (1Y) Largest decline over 1 year	-31.91%	-77.76%	+45.85%
Max Drawdown (3Y) Largest decline over 3 years	-65.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-79.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-93.61%	—	—
Current Drawdown Current decline from peak	-99.37%	-77.70%	-21.67%
Average Drawdown Average peak-to-trough decline	-88.38%	-34.41%	-53.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.60%	49.59%	-30.99%

Volatility

EPV vs. BITU - Volatility Comparison

The current volatility for ProShares UltraShort FTSE Europe (EPV) is 12.17%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 19.53%. This indicates that EPV 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

	EPV	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.17%	19.53%	-7.36%
Volatility (6M) Calculated over the trailing 6-month period	26.01%	70.19%	-44.18%
Volatility (1Y) Calculated over the trailing 1-year period	31.16%	86.84%	-55.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.75%	97.46%	-61.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.80%	97.46%	-59.66%

EPV vs. BITU - Expense Ratio Comparison

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

Dividends

EPV vs. BITU - Dividend Comparison

EPV's dividend yield for the trailing twelve months is around 4.90%, less than BITU's 78.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITU Proshares Ultra Bitcoin ETF	78.71%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPV ProShares UltraShort FTSE Europe	4.90%	4.80%	4.83%	3.17%	0.33%	0.01%	0.09%	1.10%	0.19%

Frequently Asked Questions

Can I hold both EPV and BITU in my portfolio?

EPV and BITU have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPV or BITU?

BITU has higher volatility (19.53%) compared to EPV (12.17%). In terms of maximum drawdown, EPV dropped -99.38% vs BITU's -77.76%.

Which ETF is better, EPV or BITU?

On 1-year performance, EPV leads with -27.29% vs -70.45% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, EPV has been the lower-risk option at 12.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPV or BITU?

Over the 1-year period, EPV has performed better with a -27.29% return vs -70.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPV or BITU?

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

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

BITU has the higher dividend yield at 78.71%, compared with 4.90% for EPV.

What is the main difference between EPV and BITU?

EPV is categorized as Leveraged Equities, while BITU is Cryptocurrency. EPV tracks FTSE All Cap Developed Europe (-200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

BITU currently has the higher Sharpe Ratio (-0.81 vs -0.88), 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.