LTL vs. BITO
Compare and contrast key facts about ProShares Ultra Telecommunications (LTL) and ProShares Bitcoin Strategy ETF (BITO).
LTL and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LTL is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Select Telecommunications Index (200%). It was launched on Mar 25, 2008. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
LTL vs. BITO - Performance Comparison
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LTL vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LTL ProShares Ultra Telecommunications | -12.80% | 37.06% | 65.15% | 62.03% | -41.14% | 15.96% |
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, LTL achieves a -12.80% return, which is significantly higher than BITO's -22.79% return.
LTL
- 1D
- 5.34%
- 1M
- -12.00%
- YTD
- -12.80%
- 6M
- -14.87%
- 1Y
- 22.03%
- 3Y*
- 42.86%
- 5Y*
- 17.66%
- 10Y*
- 9.01%
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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LTL vs. BITO - Expense Ratio Comparison
Both LTL and BITO have an expense ratio of 0.95%.
Return for Risk
LTL vs. BITO — Risk / Return Rank
LTL
BITO
LTL vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Telecommunications (LTL) 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.
| LTL | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.60 | -0.52 | +1.12 |
Sortino ratioReturn per unit of downside risk | 1.09 | -0.50 | +1.59 |
Omega ratioGain probability vs. loss probability | 1.15 | 0.94 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | -0.42 | +1.51 |
Martin ratioReturn relative to average drawdown | 3.33 | -0.89 | +4.22 |
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
| LTL | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.60 | -0.52 | +1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | -0.08 | +0.23 |
Correlation
The correlation between LTL and BITO is 0.35, 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
LTL vs. BITO - Dividend Comparison
LTL's dividend yield for the trailing twelve months is around 0.93%, less than BITO's 80.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTL ProShares Ultra Telecommunications | 0.93% | 0.64% | 0.29% | 0.97% | 2.01% | 1.14% | 1.57% | 0.83% | 1.99% | 1.96% | 0.70% | 1.55% |
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
LTL vs. BITO - Drawdown Comparison
The maximum LTL drawdown since its inception was -80.20%, roughly equal to the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for LTL and BITO.
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Drawdown Indicators
| LTL | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.20% | -77.86% | -2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -21.91% | -50.05% | +28.14% |
Max Drawdown (5Y)Largest decline over 5 years | -52.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.15% | — | — |
Current DrawdownCurrent decline from peak | -15.87% | -46.75% | +30.88% |
Average DrawdownAverage peak-to-trough decline | -28.85% | -36.57% | +7.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.19% | 23.73% | -16.54% |
Volatility
LTL vs. BITO - Volatility Comparison
The current volatility for ProShares Ultra Telecommunications (LTL) is 10.36%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.84%. This indicates that LTL 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
| LTL | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.36% | 12.84% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 19.71% | 36.71% | -17.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.87% | 45.32% | -8.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.53% | 55.77% | -21.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.06% | 55.77% | -18.71% |