QQQA vs. BITO

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and ProShares Bitcoin Strategy ETF (BITO).

QQQA and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQA is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross. It was launched on May 18, 2021. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.

Performance

QQQA vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

QQQA vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	4.84%	9.87%	16.17%	24.98%	-29.08%	1.80%
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, QQQA achieves a 4.84% return, which is significantly higher than BITO's -22.79% return.

QQQA

• 1D: 3.37%
• 1M: -1.32%
• YTD: 4.84%
• 6M: 11.22%
• 1Y: 26.57%
• 3Y*: 17.66%
• 5Y*: —
• 10Y*: —

BITO

• 1D: 0.60%
• 1M: -1.72%
• YTD: -22.79%
• 6M: -43.10%
• 1Y: -23.27%
• 3Y*: 24.87%
• 5Y*: —
• 10Y*: —

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

QQQA vs. BITO - Expense Ratio Comparison

QQQA has a 0.58% expense ratio, which is lower than BITO's 0.95% expense ratio.

BITO

ProShares Bitcoin Strategy ETF

QQQA

ProShares Nasdaq-100 Dorsey Wright Momentum ETF

Return for Risk

QQQA vs. BITO — Risk / Return Rank

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

QQQA

QQQA Risk / Return Rank: 58
QQQA Sharpe Ratio Rank: 49
QQQA Sortino Ratio Rank: 51
QQQA Omega Ratio Rank: 52
QQQA Calmar Ratio Rank: 72
QQQA Martin Ratio Rank: 64

BITO

BITO Risk / Return Rank: 5
BITO Sharpe Ratio Rank: 4
BITO Sortino Ratio Rank: 4
BITO Omega Ratio Rank: 5
BITO Calmar Ratio Rank: 5
BITO Martin Ratio Rank: 5

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.

QQQA vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) 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.

	QQQA	BITO	Difference
Sharpe ratio Return per unit of total volatility	0.92	-0.52	+1.44
Sortino ratio Return per unit of downside risk	1.41	-0.50	+1.91
Omega ratio Gain probability vs. loss probability	1.20	0.94	+0.26
Calmar ratio Return relative to maximum drawdown	1.94	-0.42	+2.36
Martin ratio Return relative to average drawdown	6.70	-0.89	+7.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQA vs. BITO - Sharpe Ratio Comparison

The current QQQA Sharpe Ratio is 0.92, which is higher than the BITO Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of QQQA and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QQQA	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	-0.52	+1.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	-0.08	+0.28

Correlation

The correlation between QQQA and BITO is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QQQA vs. BITO - Dividend Comparison

QQQA's dividend yield for the trailing twelve months is around 0.10%, less than BITO's 80.47% yield.

	TTM	2025	2024	2023	2022	2021
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	0.10%	0.10%	0.09%	0.34%	0.28%	0.10%
BITO ProShares Bitcoin Strategy ETF	80.47%	78.29%	61.59%	15.14%	0.00%	0.00%

Drawdowns

QQQA vs. BITO - Drawdown Comparison

The maximum QQQA drawdown since its inception was -38.44%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for QQQA and BITO.

Drawdown Indicators

	QQQA	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-38.44%	-77.86%	+39.42%
Max Drawdown (1Y) Largest decline over 1 year	-14.54%	-50.05%	+35.51%
Current Drawdown Current decline from peak	-7.27%	-46.75%	+39.48%
Average Drawdown Average peak-to-trough decline	-16.19%	-36.57%	+20.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	23.73%	-19.51%

Volatility

QQQA vs. BITO - Volatility Comparison

The current volatility for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) is 11.35%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.84%. This indicates that QQQA 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.

Volatility by Period

	QQQA	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.35%	12.84%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	20.96%	36.71%	-15.75%
Volatility (1Y) Calculated over the trailing 1-year period	28.93%	45.32%	-16.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.40%	55.77%	-30.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.40%	55.77%	-30.37%