EZJ vs. BITU

Last updated Aug 5, 2026

EZJ (ProShares Ultra MSCI Japan) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - EZJ is a Japan Equities fund tracking the MSCI Japan Index (200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, EZJ returned 54.78% vs -77.91% for BITU. Their 0.28 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.

Performance

EZJ vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI Japan (EZJ) 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, EZJ achieves a 29.20% return, which is significantly higher than BITU's -56.85% return.

EZJ

• 1D: 3.68%
• 1M: 2.34%
• 6M: 12.88%
• YTD: 29.20%
• 1Y: 54.78%
• 3Y*: 26.39%
• 5Y*: 8.53%
• 10Y*: 10.05%
• ALL TIME*: 8.15%

BITU

• 1D: 1.18%
• 1M: 7.02%
• 6M: -41.26%
• YTD: -56.85%
• 1Y: -77.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -33.51%

*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)
BITU Proshares Ultra Bitcoin ETF	$36.32M	$38.70M	$45.83M
EZJ ProShares Ultra MSCI Japan	$67.09K	$107.47K	$207.90K

EZJ vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZJ ProShares Ultra MSCI Japan	29.20%	42.72%	-12.04%
BITU Proshares Ultra Bitcoin ETF	-56.85%	-37.07%	41.85%

Correlation

The correlation between EZJ and BITU is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.28

Return for Risk

EZJ vs. BITU — Risk / Return Rank

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

EZJ

EZJ Risk / Return Rank: 47
EZJ Sharpe Ratio Rank: 45
EZJ Sortino Ratio Rank: 45
EZJ Omega Ratio Rank: 47
EZJ Calmar Ratio Rank: 51
EZJ Martin Ratio Rank: 47

BITU

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

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.

EZJ vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) 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.

	EZJ	BITU	Difference
Sharpe ratio: Return per unit of total volatility	1.29	-0.89	+2.17
Sortino ratio: Return per unit of downside risk	1.84	-1.68	+3.53
Omega ratio: Gain probability vs. loss probability	1.24	0.82	+0.43
Calmar ratio: Return relative to maximum drawdown	2.06	-0.94	+2.99
Martin ratio: Return relative to average drawdown	5.91	-1.30	+7.21

EZJ vs. BITU - Sharpe Ratio Comparison

The current EZJ Sharpe Ratio is 1.29, which is higher than the BITU Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of EZJ 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

EZJ vs. BITU - Drawdown Comparison

The maximum EZJ drawdown since its inception was -58.63%, smaller than the maximum BITU drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for EZJ and BITU.

Drawdown Indicators

	EZJ	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-83.45%	+24.82%
Max Drawdown (1Y) Largest decline over 1 year	-26.78%	-83.45%	+56.67%
Max Drawdown (3Y) Largest decline over 3 years	-31.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-58.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.63%	—	—
Current Drawdown Current decline from peak	-6.31%	-80.70%	+74.39%
Average Drawdown Average peak-to-trough decline	-21.16%	-37.76%	+16.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	59.73%	-50.43%

Volatility

EZJ vs. BITU - Volatility Comparison

The current volatility for ProShares Ultra MSCI Japan (EZJ) is 15.00%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 16.04%. This indicates that EZJ 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

	EZJ	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.00%	16.04%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	36.21%	66.33%	-30.12%
Volatility (1Y) Calculated over the trailing 1-year period	42.87%	88.24%	-45.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.52%	95.93%	-58.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.85%	95.93%	-61.08%

EZJ vs. BITU - Expense Ratio Comparison

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

Dividends

EZJ vs. BITU - Dividend Comparison

EZJ's dividend yield for the trailing twelve months is around 1.84%, less than BITU's 79.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITU Proshares Ultra Bitcoin ETF	79.54%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EZJ ProShares Ultra MSCI Japan	1.84%	1.13%	2.09%	1.11%	0.56%	0.00%	0.00%	0.24%	4.49%

Frequently Asked Questions

Can I hold both EZJ and BITU in my portfolio?

EZJ and BITU have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZJ or BITU?

BITU has higher volatility (16.04%) compared to EZJ (15.00%). In terms of maximum drawdown, EZJ dropped -58.63% vs BITU's -83.45%.

Which ETF is better, EZJ or BITU?

On 1-year performance, EZJ leads with 54.78% vs -77.91% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, EZJ has been the lower-risk option at 15.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZJ or BITU?

Over the 1-year period, EZJ has performed better with a 54.78% return vs -77.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZJ or BITU?

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

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

BITU has the higher dividend yield at 79.54%, compared with 1.84% for EZJ.

What is the main difference between EZJ and BITU?

EZJ is categorized as Japan Equities, while BITU is Cryptocurrency. EZJ tracks MSCI Japan Index (200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

EZJ currently has the higher Sharpe Ratio (1.29 vs -0.89), 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.