EUO vs. BITU

Last updated Jun 24, 2026

EUO (ProShares UltraShort Euro) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - EUO is a Leveraged Currency fund tracking the USD/EUR Exchange Rate (-200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, EUO returned 8.88% vs -74.19% for BITU. At a correlation of -0.14, they often move in opposite directions. EUO charges 0.99%/yr vs 0.95%/yr for BITU.

Performance

EUO vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Euro (EUO) 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, EUO achieves a 9.04% return, which is significantly higher than BITU's -58.07% return.

EUO

• 1D: 0.82%
• 1M: 4.61%
• YTD: 9.04%
• 6M: 9.78%
• 1Y: 8.88%
• 3Y*: 1.93%
• 5Y*: 5.59%
• 10Y*: 2.41%

BITU

• 1D: -6.41%
• 1M: -34.27%
• YTD: -58.07%
• 6M: -58.34%
• 1Y: -74.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EUO vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EUO ProShares UltraShort Euro	9.04%	-18.87%	11.80%
BITU Proshares Ultra Bitcoin ETF	-58.07%	-37.07%	41.85%

Correlation

The correlation between EUO and BITU is -0.20, 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	-0.20
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.14

Return for Risk

EUO vs. BITU — Risk / Return Rank

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

EUO

EUO Risk / Return Rank: 21
EUO Sharpe Ratio Rank: 21
EUO Sortino Ratio Rank: 20
EUO Omega Ratio Rank: 20
EUO Calmar Ratio Rank: 24
EUO Martin Ratio Rank: 22

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.

EUO vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Euro (EUO) 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.

	EUO	BITU	Difference
Sharpe ratio: Return per unit of total volatility	0.70	-0.84	+1.55
Sortino ratio: Return per unit of downside risk	1.06	-1.46	+2.53
Omega ratio: Gain probability vs. loss probability	1.13	0.84	+0.29
Calmar ratio: Return relative to maximum drawdown	1.11	-0.90	+2.01
Martin ratio: Return relative to average drawdown	2.59	-1.40	+3.99

EUO vs. BITU - Sharpe Ratio Comparison

The current EUO Sharpe Ratio is 0.70, which is higher than the BITU Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of EUO 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.

Drawdowns

EUO vs. BITU - Drawdown Comparison

The maximum EUO drawdown since its inception was -38.58%, smaller than the maximum BITU drawdown of -82.21%. Use the drawdown chart below to compare losses from any high point for EUO and BITU.

Drawdown Indicators

	EUO	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-38.58%	-82.21%	+43.63%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-82.21%	+74.16%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.61%	—	—
Current Drawdown Current decline from peak	-14.93%	-81.25%	+66.32%
Average Drawdown Average peak-to-trough decline	-18.50%	-35.50%	+17.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	53.05%	-49.60%

Volatility

EUO vs. BITU - Volatility Comparison

The current volatility for ProShares UltraShort Euro (EUO) is 3.28%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 26.20%. This indicates that EUO 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

	EUO	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	26.20%	-22.92%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	69.81%	-60.72%
Volatility (1Y) Calculated over the trailing 1-year period	12.71%	88.13%	-75.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	97.37%	-81.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.79%	97.37%	-82.58%

EUO vs. BITU - Expense Ratio Comparison

EUO has a 0.99% expense ratio, which is higher than BITU's 0.95% expense ratio.

Dividends

EUO vs. BITU - Dividend Comparison

EUO has not paid dividends to shareholders, while BITU's dividend yield for the trailing twelve months is around 93.59%.

Position	TTM	2025	2024
BITU Proshares Ultra Bitcoin ETF	93.59%	50.23%	0.12%
EUO ProShares UltraShort Euro	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EUO and BITU in my portfolio?

EUO and BITU have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUO or BITU?

BITU has higher volatility (26.20%) compared to EUO (3.28%). In terms of maximum drawdown, EUO dropped -38.58% vs BITU's -82.21%.

Which ETF is better, EUO or BITU?

On 1-year performance, EUO leads with 8.88% vs -74.19% for BITU. On fees, BITU is cheaper at 0.95% per year. On volatility, EUO has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUO or BITU?

Over the 1-year period, EUO has performed better with a 8.88% return vs -74.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUO or BITU?

BITU is cheaper with a 0.95% expense ratio, compared with 0.99% for EUO.

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

BITU has the higher dividend yield at 93.59%, compared with 0.00% for EUO.

What is the main difference between EUO and BITU?

EUO is categorized as Leveraged Currency, while BITU is Cryptocurrency. EUO tracks USD/EUR Exchange Rate (-200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross. Their fees differ too: 0.99% for EUO and 0.95% for BITU.

Which has better risk-adjusted returns?

EUO currently has the higher Sharpe Ratio (0.70 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.