ETU vs. BITI

Last updated Aug 4, 2026

ETU (T-Rex 2X Long Ether Daily Target ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - ETU is a Leveraged Cryptocurrency fund actively managed by REX Shares, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. ETU is actively managed, while BITI is passively managed. Over the past year, ETU returned -84.60% vs 56.28% for BITI. Their -0.82 correlation means they have often moved in opposite directions in the past. ETU charges 0.95%/yr vs 1.03%/yr for BITI.

Performance

ETU vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Ether Daily Target ETF (ETU) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETU achieves a -71.45% return, which is significantly lower than BITI's 25.22% return.

ETU

• 1D: 0.24%
• 1M: 17.71%
• 6M: -50.24%
• YTD: -71.45%
• 1Y: -84.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -63.86%

BITI

• 1D: -1.48%
• 1M: -4.03%
• 6M: 13.09%
• YTD: 25.22%
• 1Y: 56.28%
• 3Y*: -32.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.83%

*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)
BITI ProShares Short Bitcoin ETF	$24.18M	$25.87M	$38.72M
ETU T-Rex 2X Long Ether Daily Target ETF	$248.15K	$322.12K	$460.99K

ETU vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	-71.45%	-62.44%	53.26%
BITI ProShares Short Bitcoin ETF	25.22%	-1.76%	-31.94%

Correlation

The correlation between ETU and BITI is -0.91, 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.	-0.91
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-0.82

The correlation between ETU and BITI has been stable across timeframes, ranging from -0.91 to -0.82 - a consistent structural relationship.

Return for Risk

ETU vs. BITI — Risk / Return Rank

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

ETU

ETU Risk / Return Rank: 3
ETU Sharpe Ratio Rank: 4
ETU Sortino Ratio Rank: 3
ETU Omega Ratio Rank: 3
ETU Calmar Ratio Rank: 1
ETU Martin Ratio Rank: 3

BITI

BITI Risk / Return Rank: 51
BITI Sharpe Ratio Rank: 51
BITI Sortino Ratio Rank: 51
BITI Omega Ratio Rank: 47
BITI Calmar Ratio Rank: 62
BITI Martin Ratio Rank: 47

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.

ETU vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Ether Daily Target ETF (ETU) and ProShares Short Bitcoin ETF (BITI). 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.

	ETU	BITI	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	1.28	-1.92
Sortino ratio: Return per unit of downside risk	-1.01	1.86	-2.87
Omega ratio: Gain probability vs. loss probability	0.89	1.22	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.90	2.24	-3.14
Martin ratio: Return relative to average drawdown	-1.17	5.45	-6.62

ETU vs. BITI - Sharpe Ratio Comparison

The current ETU Sharpe Ratio is -0.63, which is lower than the BITI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of ETU and BITI, 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

ETU vs. BITI - Drawdown Comparison

The maximum ETU drawdown since its inception was -95.01%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for ETU and BITI.

Drawdown Indicators

	ETU	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-95.01%	-92.16%	-2.85%
Max Drawdown (1Y) Largest decline over 1 year	-93.91%	-25.28%	-68.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.63%	—
Current Drawdown Current decline from peak	-93.05%	-86.33%	-6.72%
Average Drawdown Average peak-to-trough decline	-65.15%	-68.61%	+3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	72.08%	10.37%	+61.71%

Volatility

ETU vs. BITI - Volatility Comparison

T-Rex 2X Long Ether Daily Target ETF (ETU) has a higher volatility of 24.41% compared to ProShares Short Bitcoin ETF (BITI) at 8.93%. This indicates that ETU's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETU	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.41%	8.93%	+15.48%
Volatility (6M) Calculated over the trailing 6-month period	92.50%	33.35%	+59.15%
Volatility (1Y) Calculated over the trailing 1-year period	133.80%	44.25%	+89.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	143.38%	52.01%	+91.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.38%	52.01%	+91.37%

ETU vs. BITI - Expense Ratio Comparison

ETU has a 0.95% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

ETU vs. BITI - Dividend Comparison

ETU's dividend yield for the trailing twelve months is around 0.01%, less than BITI's 21.80% yield.

Position	TTM	2025	2024	2023	2022
BITI ProShares Short Bitcoin ETF	21.80%	1.60%	3.91%	3.33%	0.06%
ETU T-Rex 2X Long Ether Daily Target ETF	0.01%	0.00%	0.05%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETU and BITI in my portfolio?

ETU and BITI have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETU or BITI?

ETU has higher volatility (24.41%) compared to BITI (8.93%). In terms of maximum drawdown, ETU dropped -95.01% vs BITI's -92.16%.

Which ETF is better, ETU or BITI?

On 1-year performance, BITI leads with 56.28% vs -84.60% for ETU. On fees, ETU is cheaper at 0.95% per year. On volatility, BITI has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETU or BITI?

Over the 1-year period, BITI has performed better with a 56.28% return vs -84.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETU or BITI?

ETU is cheaper with a 0.95% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, ETU or BITI?

BITI has the higher dividend yield at 21.80%, compared with 0.01% for ETU.

What is the main difference between ETU and BITI?

ETU is categorized as Leveraged Cryptocurrency, while BITI is Cryptocurrency. They also come from different issuers: REX Shares and ProShares. Their fees differ too: 0.95% for ETU and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.28 vs -0.63), 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.