QQQA vs. BITO

Last updated Jul 18, 2026

QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - QQQA is a Nasdaq-100 fund tracking the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while BITO is a Cryptocurrency fund actively managed by ProShares. QQQA is passively managed, while BITO is actively managed. Over the past 3 years, QQQA returned 24.51%/yr vs 21.17%/yr for BITO. At a 0.39 correlation, their price movements are largely independent. QQQA charges 0.58%/yr vs 0.95%/yr for BITO.

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.

Returns By Period

In the year-to-date period, QQQA achieves a 42.37% return, which is significantly higher than BITO's -28.01% return.

QQQA

• 1D: -0.45%
• 1M: -15.08%
• 6M: 34.74%
• YTD: 42.37%
• 1Y: 58.31%
• 3Y*: 24.51%
• 5Y*: 11.64%
• 10Y*: —

BITO

• 1D: -0.34%
• 1M: -0.33%
• 6M: -33.99%
• YTD: -28.01%
• 1Y: -48.20%
• 3Y*: 21.17%
• 5Y*: —
• 10Y*: —

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

QQQA vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	42.37%	9.87%	16.17%	24.98%	-29.08%	2.41%
BITO ProShares Bitcoin Strategy ETF	-28.01%	-11.19%	104.45%	137.33%	-63.91%	-29.31%

Correlation

The correlation between QQQA and BITO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021	0.39

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: 69
QQQA Sharpe Ratio Rank: 68
QQQA Sortino Ratio Rank: 58
QQQA Omega Ratio Rank: 63
QQQA Calmar Ratio Rank: 77
QQQA Martin Ratio Rank: 78

BITO

BITO Risk / Return Rank: 1
BITO Sharpe Ratio Rank: 1
BITO Sortino Ratio Rank: 1
BITO Omega Ratio Rank: 1
BITO Calmar Ratio Rank: 2
BITO 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.

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.

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.

	QQQA	BITO	Difference
Sharpe ratio: Return per unit of total volatility	1.77	-1.10	+2.86
Sortino ratio: Return per unit of downside risk	2.22	-1.71	+3.93
Omega ratio: Gain probability vs. loss probability	1.30	0.81	+0.49
Calmar ratio: Return relative to maximum drawdown	3.15	-0.89	+4.03
Martin ratio: Return relative to average drawdown	11.47	-1.42	+12.89

QQQA vs. BITO - Sharpe Ratio Comparison

The current QQQA Sharpe Ratio is 1.77, which is higher than the BITO Sharpe Ratio of -1.10. The chart below compares the historical Sharpe Ratios of QQQA and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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	-18.63%	-54.47%	+35.84%
Max Drawdown (3Y) Largest decline over 3 years	-30.84%	-54.47%	+23.63%
Max Drawdown (5Y) Largest decline over 5 years	-38.44%	—	—
Current Drawdown Current decline from peak	-18.63%	-50.35%	+31.72%
Average Drawdown Average peak-to-trough decline	-15.48%	-37.07%	+21.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	34.06%	-28.96%

Volatility

QQQA vs. BITO - Volatility Comparison

ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) has a higher volatility of 15.85% compared to ProShares Bitcoin Strategy ETF (BITO) at 10.41%. This indicates that QQQA's price experiences larger fluctuations and is considered to be riskier 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	15.85%	10.41%	+5.44%
Volatility (6M) Calculated over the trailing 6-month period	29.97%	34.29%	-4.32%
Volatility (1Y) Calculated over the trailing 1-year period	33.18%	44.02%	-10.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.38%	54.78%	-27.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.07%	54.78%	-27.71%

QQQA vs. BITO - Expense Ratio Comparison

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

Dividends

QQQA vs. BITO - Dividend Comparison

QQQA's dividend yield for the trailing twelve months is around 0.03%, less than BITO's 60.45% yield.

Position	TTM	2025	2024	2023	2022	2021
BITO ProShares Bitcoin Strategy ETF	60.45%	78.29%	61.59%	15.14%	0.00%	0.00%
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	0.03%	0.10%	0.09%	0.34%	0.28%	0.10%

Frequently Asked Questions

Can I hold both QQQA and BITO in my portfolio?

QQQA and BITO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQA or BITO?

QQQA has higher volatility (15.85%) compared to BITO (10.41%). In terms of maximum drawdown, QQQA dropped -38.44% vs BITO's -77.86%.

Which ETF is better, QQQA or BITO?

On 3-year performance, QQQA leads with 24.51% vs 21.17% for BITO. On fees, QQQA is cheaper at 0.58% per year. On volatility, BITO has been the lower-risk option at 10.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQA or BITO?

Over the 3-year period, QQQA has performed better with a 24.51% return vs 21.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQA or BITO?

QQQA is cheaper with a 0.58% expense ratio, compared with 0.95% for BITO.

Which ETF pays a higher dividend yield, QQQA or BITO?

BITO has the higher dividend yield at 60.45%, compared with 0.03% for QQQA.

What is the main difference between QQQA and BITO?

QQQA is categorized as Nasdaq-100, while BITO is Cryptocurrency. Their fees differ too: 0.58% for QQQA and 0.95% for BITO.

Which has better risk-adjusted returns?

QQQA currently has the higher Sharpe Ratio (1.77 vs -1.10), 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.