SLON vs. BTRN

Last updated Jun 4, 2026

SLON (ProShares Ultra Solana ETF) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds - SLON tracks the Bloomberg Solana Index while BTRN tracks the CoinDesk Bitcoin Trend Indicator Futures Index. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. SLON charges 2.14%/yr vs 0.95%/yr for BTRN.

Performance

SLON vs. BTRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Solana ETF (SLON) and Global X Bitcoin Trend Strategy ETF (BTRN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLON achieves a -74.41% return, which is significantly lower than BTRN's -9.29% return.

SLON

• 1D: -9.37%
• 1M: -30.10%
• YTD: -74.41%
• 6M: -81.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTRN

• 1D: -1.35%
• 1M: -12.31%
• YTD: -9.29%
• 6M: -9.90%
• 1Y: -18.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLON vs. BTRN - Yearly Performance Comparison

	2026 (YTD)	2025
SLON ProShares Ultra Solana ETF	-74.41%	-62.58%
BTRN Global X Bitcoin Trend Strategy ETF	-9.29%	-15.26%

Correlation

The correlation between SLON and BTRN is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.59

Return for Risk

SLON vs. BTRN — Risk / Return Rank

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

BTRN

BTRN Risk / Return Rank: 2
BTRN Sharpe Ratio Rank: 2
BTRN Sortino Ratio Rank: 2
BTRN Omega Ratio Rank: 2
BTRN Calmar Ratio Rank: 3
BTRN Martin Ratio Rank: 3

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.

SLON vs. BTRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Solana ETF (SLON) and Global X Bitcoin Trend Strategy ETF (BTRN). 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.

Sharpe Ratios by Period

	SLON	BTRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.63	0.00	-0.64

Drawdowns

SLON vs. BTRN - Drawdown Comparison

The maximum SLON drawdown since its inception was -95.19%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for SLON and BTRN.

Drawdown Indicators

	SLON	BTRN	Difference
Max Drawdown Largest peak-to-trough decline	-95.19%	-36.97%	-58.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.29%	—
Current Drawdown Current decline from peak	-95.19%	-25.29%	-69.90%
Average Drawdown Average peak-to-trough decline	-63.84%	-14.41%	-49.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	14.68%	—

Volatility

Volatility by Period

	SLON	BTRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	146.78%	19.91%	+126.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.78%	30.96%	+115.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.78%	30.96%	+115.82%

SLON vs. BTRN - Expense Ratio Comparison

SLON has a 2.14% expense ratio, which is higher than BTRN's 0.95% expense ratio.

Dividends

SLON vs. BTRN - Dividend Comparison

SLON's dividend yield for the trailing twelve months is around 22.44%, less than BTRN's 30.60% yield.

Position	TTM	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	30.60%	27.76%	2.56%
SLON ProShares Ultra Solana ETF	22.44%	5.74%	0.00%

Frequently Asked Questions

Can I hold both SLON and BTRN in my portfolio?

SLON and BTRN have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLON or BTRN?

On fees, BTRN is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLON or BTRN?

BTRN is cheaper with a 0.95% expense ratio, compared with 2.14% for SLON.

Which ETF pays a higher dividend yield, SLON or BTRN?

BTRN has the higher dividend yield at 30.60%, compared with 22.44% for SLON.

What is the main difference between SLON and BTRN?

SLON tracks Bloomberg Solana Index, while BTRN tracks CoinDesk Bitcoin Trend Indicator Futures Index. They also come from different issuers: ProShares and Global X. Their fees differ too: 2.14% for SLON and 0.95% for BTRN.