SZK vs. BITU

Last updated Aug 6, 2026

SZK (ProShares UltraShort Consumer Goods) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - SZK is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (-200%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, SZK returned -11.75% vs -77.06% for BITU. Their -0.01 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

SZK vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Consumer Goods (SZK) 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, SZK achieves a -18.22% return, which is significantly higher than BITU's -56.03% return.

SZK

• 1D: -0.26%
• 1M: -3.10%
• 6M: 2.45%
• YTD: -18.22%
• 1Y: -11.75%
• 3Y*: -6.63%
• 5Y*: -4.12%
• 10Y*: -16.27%
• ALL TIME*: -19.52%

BITU

• 1D: 1.91%
• 1M: 1.59%
• 6M: -34.91%
• YTD: -56.03%
• 1Y: -77.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -32.94%

*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	$36.99M	$37.69M	$45.41M
SZK ProShares UltraShort Consumer Goods	$56.40K	$61.28K	$43.80K

SZK vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SZK ProShares UltraShort Consumer Goods	-18.22%	3.37%	-2.97%
BITU Proshares Ultra Bitcoin ETF	-56.03%	-37.07%	41.85%

Correlation

The correlation between SZK and BITU is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.06
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.01

Return for Risk

SZK vs. BITU — Risk / Return Rank

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

SZK

SZK Risk / Return Rank: 6
SZK Sharpe Ratio Rank: 6
SZK Sortino Ratio Rank: 6
SZK Omega Ratio Rank: 6
SZK Calmar Ratio Rank: 6
SZK Martin Ratio Rank: 6

BITU

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

SZK vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) 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.

	SZK	BITU	Difference
Sharpe ratio: Return per unit of total volatility	-0.42	-0.88	+0.46
Sortino ratio: Return per unit of downside risk	-0.41	-1.63	+1.21
Omega ratio: Gain probability vs. loss probability	0.95	0.82	+0.13
Calmar ratio: Return relative to maximum drawdown	-0.40	-0.93	+0.52
Martin ratio: Return relative to average drawdown	-0.77	-1.29	+0.52

SZK vs. BITU - Sharpe Ratio Comparison

The current SZK Sharpe Ratio is -0.42, which is higher than the BITU Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of SZK 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

SZK vs. BITU - Drawdown Comparison

The maximum SZK drawdown since its inception was -99.40%, which is greater than BITU's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for SZK and BITU.

Drawdown Indicators

	SZK	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-99.40%	-83.45%	-15.95%
Max Drawdown (1Y) Largest decline over 1 year	-29.26%	-83.45%	+54.19%
Max Drawdown (3Y) Largest decline over 3 years	-41.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-41.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-86.78%	—	—
Current Drawdown Current decline from peak	-99.31%	-80.34%	-18.97%
Average Drawdown Average peak-to-trough decline	-82.13%	-37.83%	-44.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.39%	59.95%	-44.56%

Volatility

SZK vs. BITU - Volatility Comparison

The current volatility for ProShares UltraShort Consumer Goods (SZK) is 11.39%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 16.16%. This indicates that SZK 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

	SZK	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.39%	16.16%	-4.77%
Volatility (6M) Calculated over the trailing 6-month period	22.80%	66.29%	-43.49%
Volatility (1Y) Calculated over the trailing 1-year period	28.20%	88.21%	-60.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.97%	95.85%	-63.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.77%	95.85%	-62.08%

SZK vs. BITU - Expense Ratio Comparison

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

Dividends

SZK vs. BITU - Dividend Comparison

SZK's dividend yield for the trailing twelve months is around 2.81%, less than BITU's 78.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITU Proshares Ultra Bitcoin ETF	78.05%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SZK ProShares UltraShort Consumer Goods	2.81%	2.90%	5.70%	4.03%	0.56%	0.00%	0.19%	1.70%	0.50%

Frequently Asked Questions

Can I hold both SZK and BITU in my portfolio?

SZK and BITU have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SZK or BITU?

BITU has higher volatility (16.16%) compared to SZK (11.39%). In terms of maximum drawdown, SZK dropped -99.40% vs BITU's -83.45%.

Which ETF is better, SZK or BITU?

On 1-year performance, SZK leads with -11.75% vs -77.06% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, SZK has been the lower-risk option at 11.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SZK or BITU?

Over the 1-year period, SZK has performed better with a -11.75% return vs -77.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SZK or BITU?

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

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

BITU has the higher dividend yield at 78.05%, compared with 2.81% for SZK.

What is the main difference between SZK and BITU?

SZK is categorized as Leveraged Equities, while BITU is Cryptocurrency. SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

SZK currently has the higher Sharpe Ratio (-0.42 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.