TMDV vs. BITO

Last updated Jun 4, 2026

TMDV (ProShares Russell U.S. Dividend Growers ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - TMDV is a Mid Cap Value Equities fund tracking the Russell 3000 Dividend Elite Index, while BITO is a Cryptocurrency fund actively managed by ProShares. TMDV is passively managed, while BITO is actively managed. Over the past 3 years, TMDV returned 4.85%/yr vs 25.27%/yr for BITO. At a 0.25 correlation, their price movements are largely independent. TMDV charges 0.35%/yr vs 0.95%/yr for BITO.

Performance

TMDV vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell U.S. Dividend Growers ETF (TMDV) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMDV achieves a 4.53% return, which is significantly higher than BITO's -26.37% return.

TMDV

• 1D: -0.33%
• 1M: 0.05%
• YTD: 4.53%
• 6M: 4.29%
• 1Y: 5.96%
• 3Y*: 4.85%
• 5Y*: 2.41%
• 10Y*: —

BITO

• 1D: -2.94%
• 1M: -18.61%
• YTD: -26.37%
• 6M: -30.81%
• 1Y: -41.01%
• 3Y*: 25.27%
• 5Y*: —
• 10Y*: —

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

TMDV vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TMDV ProShares Russell U.S. Dividend Growers ETF	4.53%	2.91%	2.64%	2.25%	-5.10%	7.44%
BITO ProShares Bitcoin Strategy ETF	-26.37%	-11.19%	104.45%	137.33%	-63.91%	-31.09%

Correlation

The correlation between TMDV and BITO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021	0.25

TMDV vs. BITO - Sectors Allocation Comparison

Sectors	TMDV	BITO
Consumer Defensive	23.8%	-
Financial Services	16.0%	68.5%
Industrials	15.9%	-
Utilities	12.3%	-
Basic Materials	11.7%	-
Consumer Cyclical	5.8%	-
Healthcare	5.6%	-
Real Estate	4.6%	-
Energy	3.0%	-
Technology	1.5%	-
Communication Services	-	-

Return for Risk

TMDV vs. BITO — Risk / Return Rank

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

TMDV

TMDV Risk / Return Rank: 16
TMDV Sharpe Ratio Rank: 16
TMDV Sortino Ratio Rank: 17
TMDV Omega Ratio Rank: 15
TMDV Calmar Ratio Rank: 17
TMDV Martin Ratio Rank: 16

BITO

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

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.

TMDV vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell U.S. Dividend Growers ETF (TMDV) 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.

	TMDV	BITO	Difference
Sharpe ratio: Return per unit of total volatility	0.50	-0.95	+1.44
Sortino ratio: Return per unit of downside risk	0.82	-1.35	+2.17
Omega ratio: Gain probability vs. loss probability	1.09	0.85	+0.24
Calmar ratio: Return relative to maximum drawdown	0.61	-0.82	+1.43
Martin ratio: Return relative to average drawdown	1.50	-1.41	+2.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMDV vs. BITO - Sharpe Ratio Comparison

The current TMDV Sharpe Ratio is 0.50, which is higher than the BITO Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of TMDV and BITO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TMDV	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	-0.95	+1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	-0.09	+0.39

Drawdowns

TMDV vs. BITO - Drawdown Comparison

The maximum TMDV drawdown since its inception was -33.42%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for TMDV and BITO.

Drawdown Indicators

	TMDV	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-33.42%	-77.86%	+44.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-50.05%	+40.23%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	-50.05%	+34.03%
Max Drawdown (5Y) Largest decline over 5 years	-17.11%	—	—
Current Drawdown Current decline from peak	-6.56%	-49.22%	+42.66%
Average Drawdown Average peak-to-trough decline	-5.43%	-36.73%	+31.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	29.09%	-25.10%

Volatility

TMDV vs. BITO - Volatility Comparison

The current volatility for ProShares Russell U.S. Dividend Growers ETF (TMDV) is 2.97%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 9.43%. This indicates that TMDV 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.

Volatility by Period

	TMDV	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	9.43%	-6.46%
Volatility (6M) Calculated over the trailing 6-month period	8.53%	34.26%	-25.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.10%	43.57%	-31.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.43%	55.11%	-40.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.64%	55.11%	-36.47%

TMDV vs. BITO - Expense Ratio Comparison

TMDV has a 0.35% expense ratio, which is lower than BITO's 0.95% expense ratio.

Dividends

TMDV vs. BITO - Dividend Comparison

TMDV's dividend yield for the trailing twelve months is around 2.62%, less than BITO's 67.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BITO ProShares Bitcoin Strategy ETF	67.63%	78.29%	61.59%	15.14%	0.00%	0.00%	0.00%	0.00%
TMDV ProShares Russell U.S. Dividend Growers ETF	2.62%	2.65%	2.70%	2.45%	2.46%	2.14%	2.28%	0.16%

Frequently Asked Questions

Can I hold both TMDV and BITO in my portfolio?

TMDV and BITO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMDV or BITO?

BITO has higher volatility (9.43%) compared to TMDV (2.97%). In terms of maximum drawdown, TMDV dropped -33.42% vs BITO's -77.86%.

Which ETF is better, TMDV or BITO?

On 3-year performance, BITO leads with 25.27% vs 4.85% for TMDV. On fees, TMDV is cheaper at 0.35% per year. On volatility, TMDV has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TMDV or BITO?

Over the 3-year period, BITO has performed better with a 25.27% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMDV or BITO?

TMDV is cheaper with a 0.35% expense ratio, compared with 0.95% for BITO.

Which ETF pays a higher dividend yield, TMDV or BITO?

BITO has the higher dividend yield at 67.63%, compared with 2.62% for TMDV.

What is the main difference between TMDV and BITO?

TMDV is categorized as Mid Cap Value Equities, while BITO is Cryptocurrency. Their fees differ too: 0.35% for TMDV and 0.95% for BITO.

Which has better risk-adjusted returns?

TMDV currently has the higher Sharpe Ratio (0.50 vs -0.94), 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.