QBTC.TO vs. BITU
QBTC.TO (The Bitcoin Fund) is a stock, while BITU (Proshares Ultra Bitcoin ETF) is Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Over the past year, QBTC.TO returned -44.97% vs -78.13% for BITU. Their correlation of 0.91 suggests significant overlap in exposure.
Performance
QBTC.TO vs. BITU - Performance Comparison
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Different Trading Currencies
QBTC.TO is traded in CAD, while BITU is traded in USD. To make them comparable, the BITU values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, QBTC.TO achieves a -34.60% return, which is significantly higher than BITU's -61.60% return.
QBTC.TO
- 1D
- -3.77%
- 1M
- -20.26%
- YTD
- -34.60%
- 6M
- -35.49%
- 1Y
- -44.97%
- 3Y*
- 23.08%
- 5Y*
- 10.25%
- 10Y*
- —
BITU
- 1D
- -5.01%
- 1M
- -36.08%
- YTD
- -61.60%
- 6M
- -61.91%
- 1Y
- -78.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QBTC.TO vs. BITU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QBTC.TO The Bitcoin Fund | -34.60% | -13.99% | 41.28% |
BITU Proshares Ultra Bitcoin ETF | -61.60% | -39.95% | 49.96% |
Correlation
The correlation between QBTC.TO and BITU is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | 0.91 |
The correlation between QBTC.TO and BITU has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.
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Return for Risk
QBTC.TO vs. BITU — Risk / Return Rank
QBTC.TO
BITU
QBTC.TO vs. BITU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Bitcoin Fund (QBTC.TO) and Proshares Ultra Bitcoin ETF (BITU). 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.
| QBTC.TO | BITU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.81 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.94 | +0.13 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.43 | +0.02 |
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Drawdowns
QBTC.TO vs. BITU - Drawdown Comparison
The maximum QBTC.TO drawdown since its inception was -78.06%, smaller than the maximum BITU drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for QBTC.TO and BITU.
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Drawdown Indicators
| QBTC.TO | BITU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.06% | -83.16% | +5.10% |
Max Drawdown (1Y)Largest decline over 1 year | -55.51% | -83.16% | +27.65% |
Max Drawdown (3Y)Largest decline over 3 years | -55.51% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -78.06% | — | — |
Current DrawdownCurrent decline from peak | -55.51% | -83.16% | +27.65% |
Average DrawdownAverage peak-to-trough decline | -31.79% | -36.15% | +4.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.01% | 54.58% | -22.57% |
Volatility
QBTC.TO vs. BITU - Volatility Comparison
The current volatility for The Bitcoin Fund (QBTC.TO) is 13.19%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 27.13%. This indicates that QBTC.TO experiences smaller price fluctuations and is considered to be less risky than BITU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QBTC.TO | BITU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.19% | 27.13% | -13.94% |
Volatility (6M)Calculated over the trailing 6-month period | 34.98% | 69.85% | -34.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.73% | 88.53% | -44.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.73% | 97.56% | -44.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.27% | 97.56% | -39.29% |
Dividends
QBTC.TO vs. BITU - Dividend Comparison
QBTC.TO has not paid dividends to shareholders, while BITU's dividend yield for the trailing twelve months is around 106.04%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITU Proshares Ultra Bitcoin ETF | 106.04% | 50.23% | 0.12% |
QBTC.TO The Bitcoin Fund | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, QBTC.TO and BITU 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.
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