QQUP vs. BITO
QQUP (ProShares Ultra Top QQQ) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - QQUP is a Leveraged Equities fund tracking the Nasdaq-100 Mega Index (200%), while BITO is a Cryptocurrency fund actively managed by ProShares. QQUP is passively managed, while BITO is actively managed. At a 0.45 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
QQUP vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, QQUP achieves a 14.60% return, which is significantly higher than BITO's -28.44% return.
QQUP
- 1D
- 0.09%
- 1M
- 6.27%
- YTD
- 14.60%
- 6M
- 8.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITO
- 1D
- -2.81%
- 1M
- -22.52%
- YTD
- -28.44%
- 6M
- -32.46%
- 1Y
- -41.98%
- 3Y*
- 26.82%
- 5Y*
- —
- 10Y*
- —
QQUP vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQUP ProShares Ultra Top QQQ | 14.60% | 44.45% |
BITO ProShares Bitcoin Strategy ETF | -28.44% | -20.22% |
Correlation
The correlation between QQUP and BITO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025 | 0.45 |
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Return for Risk
QQUP vs. BITO — Risk / Return Rank
QQUP
BITO
QQUP vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Top QQQ (QQUP) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| QQUP | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.77 | -0.10 | +1.87 |
Drawdowns
QQUP vs. BITO - Drawdown Comparison
The maximum QQUP drawdown since its inception was -37.67%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for QQUP and BITO.
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Drawdown Indicators
| QQUP | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.67% | -77.86% | +40.19% |
Max Drawdown (1Y)Largest decline over 1 year | — | -50.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.64% | — |
Current DrawdownCurrent decline from peak | -6.33% | -50.64% | +44.31% |
Average DrawdownAverage peak-to-trough decline | -9.18% | -36.75% | +27.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 29.27% | — |
Volatility
QQUP vs. BITO - Volatility Comparison
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Volatility by Period
| QQUP | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.03% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 33.71% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 38.44% | 43.61% | -5.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.44% | 55.10% | -16.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.44% | 55.10% | -16.66% |
QQUP vs. BITO - Expense Ratio Comparison
Both QQUP and BITO have an expense ratio of 0.95%.
Dividends
QQUP vs. BITO - Dividend Comparison
QQUP's dividend yield for the trailing twelve months is around 0.42%, less than BITO's 69.59% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 69.59% | 78.29% | 61.59% | 15.14% |
QQUP ProShares Ultra Top QQQ | 0.42% | 0.29% | 0.00% | 0.00% |
Frequently Asked Questions
QQUP and BITO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
QQUP and BITO have the same expense ratio: 0.95% per year.
BITO has the higher dividend yield at 69.59%, compared with 0.42% for QQUP.
QQUP is categorized as Leveraged Equities, while BITO is Cryptocurrency.
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