LEGR vs. BITO
LEGR (First Trust Indxx Innovative Transaction & Process ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - LEGR is a Blockchain fund tracking the Indxx Blockchain Index, while BITO is a Cryptocurrency fund actively managed by ProShares. LEGR is passively managed, while BITO is actively managed. Over the past 3 years, LEGR returned 22.41%/yr vs 18.00%/yr for BITO. At a 0.43 correlation, their price movements are largely independent. LEGR charges 0.65%/yr vs 0.95%/yr for BITO.
Performance
LEGR vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, LEGR achieves a 9.24% return, which is significantly higher than BITO's -29.93% return.
LEGR
- 1D
- -1.93%
- 1M
- -0.51%
- YTD
- 9.24%
- 6M
- 9.24%
- 1Y
- 25.32%
- 3Y*
- 22.41%
- 5Y*
- 11.36%
- 10Y*
- —
BITO
- 1D
- -3.31%
- 1M
- -18.05%
- YTD
- -29.93%
- 6M
- -30.03%
- 1Y
- -42.09%
- 3Y*
- 18.00%
- 5Y*
- —
- 10Y*
- —
LEGR vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LEGR First Trust Indxx Innovative Transaction & Process ETF | 9.24% | 30.83% | 16.25% | 22.79% | -19.01% | -0.57% |
BITO ProShares Bitcoin Strategy ETF | -29.93% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between LEGR and BITO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.43 |
The correlation between LEGR and BITO shifts across timeframes, from 0.36 (3 years) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LEGR vs. BITO — Risk / Return Rank
LEGR
BITO
LEGR vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Innovative Transaction & Process ETF (LEGR) 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.
| LEGR | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.71 | ||
| Sortino ratioReturn per unit of downside risk | +3.77 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.85 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | -0.80 | +3.24 |
| Martin ratioReturn relative to average drawdown | 8.91 | -1.35 | +10.26 |
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Drawdowns
LEGR vs. BITO - Drawdown Comparison
The maximum LEGR drawdown since its inception was -36.12%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for LEGR and BITO.
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Drawdown Indicators
| LEGR | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -77.86% | +41.74% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -53.10% | +42.70% |
Max Drawdown (3Y)Largest decline over 3 years | -14.25% | -53.10% | +38.85% |
Max Drawdown (5Y)Largest decline over 5 years | -31.45% | — | — |
Current DrawdownCurrent decline from peak | -4.26% | -51.67% | +47.41% |
Average DrawdownAverage peak-to-trough decline | -6.59% | -36.86% | +30.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 31.28% | -28.43% |
Volatility
LEGR vs. BITO - Volatility Comparison
The current volatility for First Trust Indxx Innovative Transaction & Process ETF (LEGR) is 5.98%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.79%. This indicates that LEGR 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
| LEGR | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 12.79% | -6.81% |
Volatility (6M)Calculated over the trailing 6-month period | 12.30% | 34.39% | -22.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.54% | 44.08% | -29.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.09% | 55.02% | -37.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.33% | 55.02% | -34.69% |
LEGR vs. BITO - Expense Ratio Comparison
LEGR has a 0.65% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
LEGR vs. BITO - Dividend Comparison
LEGR's dividend yield for the trailing twelve months is around 1.71%, less than BITO's 71.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 71.07% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LEGR First Trust Indxx Innovative Transaction & Process ETF | 1.71% | 1.84% | 2.40% | 2.56% | 2.64% | 1.80% | 0.95% | 2.04% | 1.30% |
Frequently Asked Questions
LEGR and BITO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (12.79%) compared to LEGR (5.98%). In terms of maximum drawdown, LEGR dropped -36.12% vs BITO's -77.86%.
On 3-year performance, LEGR leads with 22.41% vs 18.00% for BITO. On fees, LEGR is cheaper at 0.65% per year. On volatility, LEGR has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, LEGR has performed better with a 22.41% return vs 18.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LEGR is cheaper with a 0.65% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 71.07%, compared with 1.71% for LEGR.
LEGR is categorized as Blockchain, while BITO is Cryptocurrency. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.65% for LEGR and 0.95% for BITO.
LEGR currently has the higher Sharpe Ratio (1.76 vs -0.96), 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.
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