ERX vs. BITU
ERX (Direxion Daily Energy Bull 2X Shares) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, ERX returned 73.31% vs -77.06% for BITU. Their 0.10 correlation means their historical movements had little consistent relationship. ERX charges 0.91%/yr vs 0.95%/yr for BITU.
Performance
ERX vs. BITU - Performance Comparison
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Returns By Period
In the year-to-date period, ERX achieves a 58.73% return, which is significantly higher than BITU's -56.03% return.
ERX
- 1D
- -3.72%
- 1M
- 15.60%
- 6M
- 14.96%
- YTD
- 58.73%
- 1Y
- 73.31%
- 3Y*
- 14.98%
- 5Y*
- 33.57%
- 10Y*
- -9.50%
- ALL TIME*
- -7.37%
BITU
- 1D
- 1.91%
- 1M
- 1.59%
- 6M
- -34.91%
- YTD
- -56.03%
- 1Y
- -77.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -32.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.99M | $37.69M | $45.41M | |
| $23.06M | $23.66M | $27.73M |
ERX vs. BITU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 58.73% | 2.79% | -20.96% |
BITU Proshares Ultra Bitcoin ETF | -56.03% | -37.07% | 41.85% |
Correlation
The correlation between ERX and BITU is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | 0.10 |
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Return for Risk
ERX vs. BITU — Risk / Return Rank
ERX
BITU
ERX vs. BITU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) 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.
| ERX | BITU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.61 | ||
| Sortino ratioReturn per unit of downside risk | +3.82 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.82 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | -0.93 | +3.38 |
| Martin ratioReturn relative to average drawdown | 6.18 | -1.29 | +7.47 |
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Drawdowns
ERX vs. BITU - Drawdown Comparison
The maximum ERX drawdown since its inception was -99.54%, which is greater than BITU's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for ERX and BITU.
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Drawdown Indicators
| ERX | BITU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.54% | -83.45% | -16.09% |
Max Drawdown (1Y)Largest decline over 1 year | -29.97% | -83.45% | +53.48% |
Max Drawdown (3Y)Largest decline over 3 years | -42.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -46.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | — | — |
Current DrawdownCurrent decline from peak | -91.99% | -80.34% | -11.65% |
Average DrawdownAverage peak-to-trough decline | -67.26% | -37.83% | -29.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.90% | 59.95% | -48.05% |
Volatility
ERX vs. BITU - Volatility Comparison
The current volatility for Direxion Daily Energy Bull 2X Shares (ERX) is 12.41%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 16.16%. This indicates that ERX 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.
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Volatility by Period
| ERX | BITU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.41% | 16.16% | -3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 33.24% | 66.29% | -33.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.40% | 88.21% | -45.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.46% | 95.85% | -44.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.84% | 95.85% | -27.01% |
ERX vs. BITU - Expense Ratio Comparison
ERX has a 0.91% expense ratio, which is lower than BITU's 0.95% expense ratio.
Dividends
ERX vs. BITU - Dividend Comparison
ERX's dividend yield for the trailing twelve months is around 1.61%, less than BITU's 78.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | 78.05% | 50.23% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ERX Direxion Daily Energy Bull 2X Shares | 1.61% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
Frequently Asked Questions
ERX and BITU have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITU has higher volatility (16.16%) compared to ERX (12.41%). In terms of maximum drawdown, ERX dropped -99.54% vs BITU's -83.45%.
On 1-year performance, ERX leads with 73.31% vs -77.06% for BITU. On fees, ERX is cheaper at 0.91% per year. On volatility, ERX has been the lower-risk option at 12.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ERX has performed better with a 73.31% return vs -77.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ERX is cheaper with a 0.91% expense ratio, compared with 0.95% for BITU.
BITU has the higher dividend yield at 78.05%, compared with 1.61% for ERX.
ERX is categorized as Energy Equities, while BITU is Cryptocurrency. ERX tracks Energy Select Sector Index (200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross. They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.91% for ERX and 0.95% for BITU.
ERX currently has the higher Sharpe Ratio (1.74 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.
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