HYHG vs. BITO
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and ProShares Bitcoin Strategy ETF (BITO).
HYHG and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
HYHG vs. BITO - Performance Comparison
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HYHG vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 0.76% | 5.31% | 11.41% | 14.69% | -1.71% | 0.76% |
BITO ProShares Bitcoin Strategy ETF | -22.79% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Returns By Period
In the year-to-date period, HYHG achieves a 0.76% return, which is significantly higher than BITO's -22.79% return.
HYHG
- 1D
- 0.75%
- 1M
- 0.37%
- YTD
- 0.76%
- 6M
- 2.21%
- 1Y
- 7.49%
- 3Y*
- 9.53%
- 5Y*
- 6.54%
- 10Y*
- 6.25%
BITO
- 1D
- 0.60%
- 1M
- -1.72%
- YTD
- -22.79%
- 6M
- -43.10%
- 1Y
- -23.27%
- 3Y*
- 24.87%
- 5Y*
- —
- 10Y*
- —
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HYHG vs. BITO - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is lower than BITO's 0.95% expense ratio.
Return for Risk
HYHG vs. BITO — Risk / Return Rank
HYHG
BITO
HYHG vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and ProShares Bitcoin Strategy ETF (BITO). 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.
| HYHG | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | -0.52 | +1.45 |
Sortino ratioReturn per unit of downside risk | 1.40 | -0.50 | +1.89 |
Omega ratioGain probability vs. loss probability | 1.20 | 0.94 | +0.25 |
Calmar ratioReturn relative to maximum drawdown | 1.74 | -0.42 | +2.16 |
Martin ratioReturn relative to average drawdown | 8.32 | -0.89 | +9.20 |
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
| HYHG | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | -0.52 | +1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | -0.08 | +0.52 |
Correlation
The correlation between HYHG and BITO is 0.29, 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
HYHG vs. BITO - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.92%, less than BITO's 80.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.92% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
BITO ProShares Bitcoin Strategy ETF | 80.47% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HYHG vs. BITO - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.71%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for HYHG and BITO.
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Drawdown Indicators
| HYHG | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.71% | -77.86% | +52.15% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -50.05% | +45.80% |
Max Drawdown (5Y)Largest decline over 5 years | -9.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.71% | — | — |
Current DrawdownCurrent decline from peak | -0.57% | -46.75% | +46.18% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -36.57% | +33.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 23.73% | -22.84% |
Volatility
HYHG vs. BITO - Volatility Comparison
The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 2.37%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.84%. This indicates that HYHG experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYHG | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 12.84% | -10.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 36.71% | -32.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | 45.32% | -37.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.12% | 55.77% | -47.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.20% | 55.77% | -46.57% |