SPXT vs. BITO
SPXT (ProShares S&P 500 Ex-Technology ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - SPXT is a S&P 500 fund tracking the S&P 500 Ex-Information Technology Index, while BITO is a Cryptocurrency fund actively managed by ProShares. SPXT is passively managed, while BITO is actively managed. Over the past 3 years, SPXT returned 16.39%/yr vs 22.22%/yr for BITO. Their 0.38 correlation means their historical movements had little consistent relationship. SPXT charges 0.09%/yr vs 0.95%/yr for BITO.
Performance
SPXT vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, SPXT achieves a 8.41% return, which is significantly higher than BITO's -28.40% return.
SPXT
- 1D
- 1.21%
- 1M
- 1.71%
- 6M
- 4.60%
- YTD
- 8.41%
- 1Y
- 19.10%
- 3Y*
- 16.39%
- 5Y*
- 9.86%
- 10Y*
- 11.71%
- ALL TIME*
- 11.95%
BITO
- 1D
- 1.45%
- 1M
- 3.64%
- 6M
- -19.37%
- YTD
- -28.40%
- 1Y
- -45.62%
- 3Y*
- 22.22%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.59B | $2.59B | $2.08B | |
| $2.24M | $2.32M | $1.68M |
SPXT vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPXT ProShares S&P 500 Ex-Technology ETF | 8.41% | 15.10% | 19.93% | 16.23% | -14.24% | 5.10% |
BITO ProShares Bitcoin Strategy ETF | -28.40% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between SPXT and BITO is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.38 |
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Return for Risk
SPXT vs. BITO — Risk / Return Rank
SPXT
BITO
SPXT vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Technology ETF (SPXT) 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.
| SPXT | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.81 | ||
| Sortino ratioReturn per unit of downside risk | +4.08 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.83 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | -0.84 | +3.27 |
| Martin ratioReturn relative to average drawdown | 10.39 | -1.28 | +11.67 |
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Drawdowns
SPXT vs. BITO - Drawdown Comparison
The maximum SPXT drawdown since its inception was -34.38%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for SPXT and BITO.
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Drawdown Indicators
| SPXT | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.38% | -77.86% | +43.48% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -54.47% | +46.57% |
Max Drawdown (3Y)Largest decline over 3 years | -15.58% | -54.47% | +38.89% |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.38% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -50.61% | +50.61% |
Average DrawdownAverage peak-to-trough decline | -4.09% | -37.19% | +33.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 35.62% | -33.78% |
Volatility
SPXT vs. BITO - Volatility Comparison
The current volatility for ProShares S&P 500 Ex-Technology ETF (SPXT) is 3.70%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 8.72%. This indicates that SPXT 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.
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Volatility by Period
| SPXT | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 8.72% | -5.02% |
Volatility (6M)Calculated over the trailing 6-month period | 8.28% | 33.49% | -25.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.82% | 44.21% | -33.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.76% | 54.58% | -39.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 54.58% | -38.35% |
SPXT vs. BITO - Expense Ratio Comparison
SPXT has a 0.09% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
SPXT vs. BITO - Dividend Comparison
SPXT's dividend yield for the trailing twelve months is around 1.32%, less than BITO's 47.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 47.03% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXT ProShares S&P 500 Ex-Technology ETF | 1.32% | 1.38% | 1.29% | 1.53% | 1.86% | 1.15% | 1.63% | 1.63% | 2.03% | 1.55% | 2.67% | 0.56% |
Frequently Asked Questions
SPXT and BITO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (8.72%) compared to SPXT (3.70%). In terms of maximum drawdown, SPXT dropped -34.38% vs BITO's -77.86%.
On 3-year performance, BITO leads with 22.22% vs 16.39% for SPXT. On fees, SPXT is cheaper at 0.09% per year. On volatility, SPXT has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 22.22% return vs 16.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXT is cheaper with a 0.09% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 47.03%, compared with 1.32% for SPXT.
SPXT is categorized as S&P 500, while BITO is Cryptocurrency. Their fees differ too: 0.09% for SPXT and 0.95% for BITO.
SPXT currently has the higher Sharpe Ratio (1.78 vs -1.04), 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.
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