SKF vs. BITU

Last updated Aug 4, 2026

SKF (ProShares UltraShort Financials) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - SKF is a Leveraged Equities fund tracking the DJ Global United States (All) / Financials -IND (-200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, SKF returned -18.86% vs -77.50% for BITU. Their -0.28 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

SKF vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Financials (SKF) 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, SKF achieves a -8.93% return, which is significantly higher than BITU's -57.36% return.

SKF

• 1D: -1.38%
• 1M: -5.58%
• 6M: -11.53%
• YTD: -8.93%
• 1Y: -18.86%
• 3Y*: -27.34%
• 5Y*: -19.36%
• 10Y*: -27.10%
• ALL TIME*: -28.15%

BITU

• 1D: 2.86%
• 1M: 5.78%
• 6M: -44.05%
• YTD: -57.36%
• 1Y: -77.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -33.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITU Proshares Ultra Bitcoin ETF	$37.97M	$38.90M	$46.19M
SKF ProShares UltraShort Financials	$327.82K	$374.40K	$433.73K

SKF vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKF ProShares UltraShort Financials	-8.93%	-23.99%	-22.48%
BITU Proshares Ultra Bitcoin ETF	-57.36%	-37.07%	41.85%

Correlation

The correlation between SKF and BITU is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.23
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.28

Return for Risk

SKF vs. BITU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SKF

SKF Risk / Return Rank: 3
SKF Sharpe Ratio Rank: 4
SKF Sortino Ratio Rank: 4
SKF Omega Ratio Rank: 4
SKF Calmar Ratio Rank: 4
SKF Martin Ratio Rank: 1

BITU

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SKF vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Financials (SKF) 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.

	SKF	BITU	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	-0.88	+0.23
Sortino ratio: Return per unit of downside risk	-0.82	-1.66	+0.83
Omega ratio: Gain probability vs. loss probability	0.91	0.82	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.62	-0.93	+0.31
Martin ratio: Return relative to average drawdown	-1.46	-1.30	-0.16

SKF vs. BITU - Sharpe Ratio Comparison

The current SKF Sharpe Ratio is -0.65, which is comparable to the BITU Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of SKF 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.

Drawdowns

SKF vs. BITU - Drawdown Comparison

The maximum SKF drawdown since its inception was -99.96%, which is greater than BITU's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for SKF and BITU.

Drawdown Indicators

	SKF	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-83.45%	-16.51%
Max Drawdown (1Y) Largest decline over 1 year	-30.59%	-83.45%	+52.86%
Max Drawdown (3Y) Largest decline over 3 years	-69.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-73.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.90%	—	—
Current Drawdown Current decline from peak	-99.96%	-80.93%	-19.03%
Average Drawdown Average peak-to-trough decline	-89.33%	-37.68%	-51.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.93%	59.52%	-46.59%

Volatility

SKF vs. BITU - Volatility Comparison

The current volatility for ProShares UltraShort Financials (SKF) is 7.55%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 17.53%. This indicates that SKF 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

	SKF	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	17.53%	-9.98%
Volatility (6M) Calculated over the trailing 6-month period	22.16%	68.01%	-45.85%
Volatility (1Y) Calculated over the trailing 1-year period	29.32%	88.40%	-59.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.92%	96.01%	-60.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.78%	96.01%	-55.23%

SKF vs. BITU - Expense Ratio Comparison

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

Dividends

SKF vs. BITU - Dividend Comparison

SKF's dividend yield for the trailing twelve months is around 4.70%, less than BITU's 80.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITU Proshares Ultra Bitcoin ETF	80.48%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SKF ProShares UltraShort Financials	4.70%	5.61%	7.94%	3.93%	0.03%	0.00%	0.11%	1.29%	0.06%

Frequently Asked Questions

Can I hold both SKF and BITU in my portfolio?

SKF and BITU have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKF or BITU?

BITU has higher volatility (17.53%) compared to SKF (7.55%). In terms of maximum drawdown, SKF dropped -99.96% vs BITU's -83.45%.

Which ETF is better, SKF or BITU?

On 1-year performance, SKF leads with -18.86% vs -77.50% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, SKF has been the lower-risk option at 7.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKF or BITU?

Over the 1-year period, SKF has performed better with a -18.86% return vs -77.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKF or BITU?

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

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

BITU has the higher dividend yield at 80.48%, compared with 4.70% for SKF.

What is the main difference between SKF and BITU?

SKF is categorized as Leveraged Equities, while BITU is Cryptocurrency. SKF tracks DJ Global United States (All) / Financials -IND (-200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

SKF currently has the higher Sharpe Ratio (-0.65 vs -0.88), 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.