TQQQ vs. BITX
TQQQ (ProShares UltraPro QQQ) and BITX (2x Bitcoin Strategy ETF) are both exchange-traded funds - TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%), while BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%). Both are passively managed. Over the past year, TQQQ returned 98.25% vs -76.33% for BITX. At a 0.37 correlation, their price movements are largely independent. TQQQ charges 0.95%/yr vs 2.38%/yr for BITX.
Performance
TQQQ vs. BITX - Performance Comparison
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Returns By Period
In the year-to-date period, TQQQ achieves a 38.79% return, which is significantly higher than BITX's -59.63% return.
TQQQ
- 1D
- -14.28%
- 1M
- -4.23%
- YTD
- 38.79%
- 6M
- 30.51%
- 1Y
- 98.25%
- 3Y*
- 60.11%
- 5Y*
- 24.09%
- 10Y*
- 42.84%
BITX
- 1D
- -10.38%
- 1M
- -44.71%
- YTD
- -59.63%
- 6M
- -62.06%
- 1Y
- -76.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TQQQ vs. BITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TQQQ ProShares UltraPro QQQ | 38.79% | 34.35% | 58.27% | 30.16% |
BITX 2x Bitcoin Strategy ETF | -59.63% | -38.71% | 163.41% | 47.23% |
Correlation
The correlation between TQQQ and BITX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023 | 0.37 |
The correlation between TQQQ and BITX shifts across timeframes, from 0.37 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TQQQ vs. BITX — Risk / Return Rank
TQQQ
BITX
TQQQ vs. BITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and 2x Bitcoin Strategy ETF (BITX). 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.
| TQQQ | BITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.96 | ||
| Sortino ratioReturn per unit of downside risk | +3.95 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.83 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | -0.92 | +3.74 |
| Martin ratioReturn relative to average drawdown | 9.20 | -1.49 | +10.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TQQQ | BITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | -0.86 | +2.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | -0.01 | +0.73 |
Drawdowns
TQQQ vs. BITX - Drawdown Comparison
The maximum TQQQ drawdown since its inception was -81.66%, roughly equal to the maximum BITX drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for TQQQ and BITX.
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Drawdown Indicators
| TQQQ | BITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -82.16% | +0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -36.97% | -82.16% | +45.19% |
Max Drawdown (3Y)Largest decline over 3 years | -58.04% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -81.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -81.66% | — | — |
Current DrawdownCurrent decline from peak | -16.25% | -82.16% | +65.91% |
Average DrawdownAverage peak-to-trough decline | -18.52% | -31.83% | +13.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.33% | 50.55% | -39.22% |
Volatility
TQQQ vs. BITX - Volatility Comparison
ProShares UltraPro QQQ (TQQQ) and 2x Bitcoin Strategy ETF (BITX) have volatilities of 20.42% and 20.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TQQQ | BITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.42% | 20.21% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 39.33% | 68.69% | -29.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.81% | 87.44% | -37.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.79% | 98.39% | -31.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.11% | 98.39% | -32.28% |
TQQQ vs. BITX - Expense Ratio Comparison
TQQQ has a 0.95% expense ratio, which is lower than BITX's 2.38% expense ratio.
Dividends
TQQQ vs. BITX - Dividend Comparison
TQQQ's dividend yield for the trailing twelve months is around 0.43%, less than BITX's 39.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 39.27% | 21.69% | 10.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.43% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
TQQQ and BITX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (20.42%) compared to BITX (20.21%). In terms of maximum drawdown, TQQQ dropped -81.66% vs BITX's -82.16%.
On 1-year performance, TQQQ leads with 98.25% vs -76.33% for BITX. On fees, TQQQ is cheaper at 0.95% per year. On volatility, BITX has been the lower-risk option at 20.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TQQQ has performed better with a 98.25% return vs -76.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TQQQ is cheaper with a 0.95% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 39.27%, compared with 0.43% for TQQQ.
TQQQ is categorized as Leveraged Equities, while BITX is Cryptocurrency. TQQQ tracks NASDAQ-100 Index (300%), while BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%). They also come from different issuers: ProShares and Volatility Shares. Their fees differ too: 0.95% for TQQQ and 2.38% for BITX.
TQQQ currently has the higher Sharpe Ratio (2.10 vs -0.86), 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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