QLD vs. BITU

Last updated Jun 4, 2026

QLD (ProShares Ultra QQQ) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, QLD returned 85.49% vs -73.07% for BITU. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

QLD vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ (QLD) and Proshares Ultra Bitcoin ETF (BITU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLD achieves a 42.06% return, which is significantly higher than BITU's -52.92% return.

QLD

• 1D: -0.53%
• 1M: 21.54%
• YTD: 42.06%
• 6M: 37.45%
• 1Y: 85.49%
• 3Y*: 50.15%
• 5Y*: 25.75%
• 10Y*: 36.10%

BITU

• 1D: -5.58%
• 1M: -34.84%
• YTD: -52.92%
• 6M: -59.11%
• 1Y: -73.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLD vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QLD ProShares Ultra QQQ	42.06%	30.36%	25.65%
BITU Proshares Ultra Bitcoin ETF	-52.92%	-37.07%	37.90%

Correlation

The correlation between QLD and BITU is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	0.43

QLD vs. BITU - Sectors Allocation Comparison

Sectors	QLD	BITU
Technology	53.8%	-
Communication Services	15.8%	-
Consumer Cyclical	12.3%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.8%	-
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	4.2%
Real Estate	0.1%	-

Return for Risk

QLD vs. BITU — Risk / Return Rank

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

QLD

QLD Risk / Return Rank: 69
QLD Sharpe Ratio Rank: 81
QLD Sortino Ratio Rank: 67
QLD Omega Ratio Rank: 67
QLD Calmar Ratio Rank: 67
QLD Martin Ratio Rank: 64

BITU

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

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.

QLD vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) 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.

	QLD	BITU	Difference
Sharpe ratio: Return per unit of total volatility	2.70	-0.84	+3.54
Sortino ratio: Return per unit of downside risk	3.16	-1.44	+4.60
Omega ratio: Gain probability vs. loss probability	1.41	0.84	+0.57
Calmar ratio: Return relative to maximum drawdown	3.42	-0.93	+4.35
Martin ratio: Return relative to average drawdown	11.92	-1.47	+13.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QLD vs. BITU - Sharpe Ratio Comparison

The current QLD Sharpe Ratio is 2.70, which is higher than the BITU Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of QLD and BITU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QLD	BITU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	-0.84	+3.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	-0.35	+0.95

Drawdowns

QLD vs. BITU - Drawdown Comparison

The maximum QLD drawdown since its inception was -83.13%, which is greater than BITU's maximum drawdown of -78.94%. Use the drawdown chart below to compare losses from any high point for QLD and BITU.

Drawdown Indicators

	QLD	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-83.13%	-78.94%	-4.19%
Max Drawdown (1Y) Largest decline over 1 year	-25.13%	-78.94%	+53.81%
Max Drawdown (3Y) Largest decline over 3 years	-42.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-63.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.68%	—	—
Current Drawdown Current decline from peak	-0.53%	-78.94%	+78.41%
Average Drawdown Average peak-to-trough decline	-18.17%	-34.49%	+16.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.20%	49.84%	-42.64%

Volatility

QLD vs. BITU - Volatility Comparison

The current volatility for ProShares Ultra QQQ (QLD) is 8.90%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 18.99%. This indicates that QLD 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.

Volatility by Period

	QLD	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.90%	18.99%	-10.09%
Volatility (6M) Calculated over the trailing 6-month period	24.08%	69.41%	-45.33%
Volatility (1Y) Calculated over the trailing 1-year period	31.85%	87.00%	-55.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.74%	97.45%	-52.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.56%	97.45%	-52.89%

QLD vs. BITU - Expense Ratio Comparison

Both QLD and BITU have an expense ratio of 0.95%.

Dividends

QLD vs. BITU - Dividend Comparison

QLD's dividend yield for the trailing twelve months is around 0.12%, less than BITU's 83.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITU Proshares Ultra Bitcoin ETF	83.36%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLD ProShares Ultra QQQ	0.12%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Frequently Asked Questions

Can I hold both QLD and BITU in my portfolio?

QLD and BITU have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLD or BITU?

BITU has higher volatility (18.99%) compared to QLD (8.90%). In terms of maximum drawdown, QLD dropped -83.13% vs BITU's -78.94%.

Which ETF is better, QLD or BITU?

On 1-year performance, QLD leads with 85.49% vs -73.07% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, QLD has been the lower-risk option at 8.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLD or BITU?

Over the 1-year period, QLD has performed better with a 85.49% return vs -73.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLD or BITU?

QLD and BITU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, QLD or BITU?

BITU has the higher dividend yield at 83.36%, compared with 0.12% for QLD.

What is the main difference between QLD and BITU?

QLD is categorized as Leveraged Equities, while BITU is Cryptocurrency. QLD tracks NASDAQ-100 Index (200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

QLD currently has the higher Sharpe Ratio (2.70 vs -0.84), 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.