GBTC vs. TQQQ
Compare and contrast key facts about Grayscale Bitcoin Trust (BTC) (GBTC) and ProShares UltraPro QQQ (TQQQ).
TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010.
Performance
GBTC vs. TQQQ - Performance Comparison
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GBTC vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust (BTC) | -23.71% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
TQQQ ProShares UltraPro QQQ | -17.68% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Returns By Period
In the year-to-date period, GBTC achieves a -23.71% return, which is significantly lower than TQQQ's -17.68% return. Over the past 10 years, GBTC has outperformed TQQQ with an annualized return of 57.65%, while TQQQ has yielded a comparatively lower 35.51% annualized return.
GBTC
- 1D
- -1.70%
- 1M
- -1.94%
- YTD
- -23.71%
- 6M
- -45.06%
- 1Y
- -24.09%
- 3Y*
- 48.11%
- 5Y*
- 0.50%
- 10Y*
- 57.65%
TQQQ
- 1D
- 0.23%
- 1M
- -9.77%
- YTD
- -17.68%
- 6M
- -18.09%
- 1Y
- 45.61%
- 3Y*
- 47.33%
- 5Y*
- 13.60%
- 10Y*
- 35.51%
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Return for Risk
GBTC vs. TQQQ — Risk / Return Rank
GBTC
TQQQ
GBTC vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust (BTC) (GBTC) and ProShares UltraPro QQQ (TQQQ). 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.
| GBTC | TQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.54 | 0.68 | -1.22 |
Sortino ratioReturn per unit of downside risk | -0.53 | 1.36 | -1.89 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.19 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | -0.45 | 1.32 | -1.77 |
Martin ratioReturn relative to average drawdown | -0.95 | 3.99 | -4.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBTC | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 0.68 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.21 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.54 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.65 | +0.03 |
Correlation
The correlation between GBTC and TQQQ is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GBTC vs. TQQQ - Dividend Comparison
GBTC has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.73%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.73% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Drawdowns
GBTC vs. TQQQ - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for GBTC and TQQQ.
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Drawdown Indicators
| GBTC | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -81.66% | -8.25% |
Max Drawdown (1Y)Largest decline over 1 year | -49.55% | -36.97% | -12.58% |
Max Drawdown (5Y)Largest decline over 5 years | -85.80% | -81.66% | -4.14% |
Max Drawdown (10Y)Largest decline over 10 years | -89.91% | -81.66% | -8.25% |
Current DrawdownCurrent decline from peak | -47.02% | -27.92% | -19.10% |
Average DrawdownAverage peak-to-trough decline | -43.48% | -18.67% | -24.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.57% | 12.26% | +11.31% |
Volatility
GBTC vs. TQQQ - Volatility Comparison
The current volatility for Grayscale Bitcoin Trust (BTC) (GBTC) is 10.84%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 19.09%. This indicates that GBTC experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBTC | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 19.09% | -8.25% |
Volatility (6M)Calculated over the trailing 6-month period | 36.69% | 38.47% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.22% | 67.32% | -22.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.17% | 66.51% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.54% | 65.81% | +16.73% |