KRYP vs. BITO

Last updated Jun 30, 2026

KRYP (ProShares CoinDesk 20 Crypto ETF) and BITO (ProShares Bitcoin Strategy ETF) are both Cryptocurrency funds from ProShares. KRYP is passively managed, while BITO is actively managed. Their correlation of 0.93 suggests significant overlap in exposure.

Performance

KRYP vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares CoinDesk 20 Crypto ETF (KRYP) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KRYP

• 1D: 1.58%
• 1M: -17.92%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITO

• 1D: 0.86%
• 1M: -18.15%
• YTD: -32.24%
• 6M: -31.91%
• 1Y: -45.87%
• 3Y*: 17.66%
• 5Y*: —
• 10Y*: —

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

KRYP vs. BITO - Yearly Performance Comparison

	2026 (YTD)
KRYP ProShares CoinDesk 20 Crypto ETF	-28.15%
BITO ProShares Bitcoin Strategy ETF	-22.12%

Correlation

The correlation between KRYP and BITO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.93

Return for Risk

KRYP vs. BITO — Risk / Return Rank

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

KRYP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BITO

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

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.

KRYP vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares CoinDesk 20 Crypto ETF (KRYP) 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.

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.

	KRYP	BITO	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.04	—
Sortino ratio: Return per unit of downside risk	—	-1.57	—
Omega ratio: Gain probability vs. loss probability	—	0.83	—
Calmar ratio: Return relative to maximum drawdown	—	-0.85	—
Martin ratio: Return relative to average drawdown	—	-1.43	—

Drawdowns

KRYP vs. BITO - Drawdown Comparison

The maximum KRYP drawdown since its inception was -30.90%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for KRYP and BITO.

Drawdown Indicators

	KRYP	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-30.90%	-77.86%	+46.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-54.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-54.01%	—
Current Drawdown Current decline from peak	-28.15%	-53.27%	+25.12%
Average Drawdown Average peak-to-trough decline	-11.52%	-36.92%	+25.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	32.01%	—

Volatility

Volatility by Period

	KRYP	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	50.05%	44.21%	+5.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.05%	54.96%	-4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.05%	54.96%	-4.91%

Dividends

KRYP vs. BITO - Dividend Comparison

KRYP's dividend yield for the trailing twelve months is around 0.08%, less than BITO's 73.50% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	73.50%	78.29%	61.59%	15.14%
KRYP ProShares CoinDesk 20 Crypto ETF	0.08%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KRYP and BITO in my portfolio?

With a correlation of 0.93, KRYP and BITO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF pays a higher dividend yield, KRYP or BITO?

BITO has the higher dividend yield at 73.50%, compared with 0.08% for KRYP.