TQQQ vs. GBTC
Compare and contrast key facts about ProShares UltraPro QQQ (TQQQ) and Grayscale Bitcoin Trust (BTC) (GBTC).
TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010.
Performance
TQQQ vs. GBTC - Performance Comparison
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TQQQ vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TQQQ ProShares UltraPro QQQ | -17.68% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
GBTC Grayscale Bitcoin Trust (BTC) | -23.71% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
Returns By Period
In the year-to-date period, TQQQ achieves a -17.68% return, which is significantly higher than GBTC's -23.71% return. Over the past 10 years, TQQQ has underperformed GBTC with an annualized return of 35.51%, while GBTC has yielded a comparatively higher 57.65% annualized return.
TQQQ
- 1D
- 0.23%
- 1M
- -9.77%
- YTD
- -17.68%
- 6M
- -18.09%
- 1Y
- 45.61%
- 3Y*
- 47.33%
- 5Y*
- 13.60%
- 10Y*
- 35.51%
GBTC
- 1D
- -1.70%
- 1M
- -1.94%
- YTD
- -23.71%
- 6M
- -45.06%
- 1Y
- -24.09%
- 3Y*
- 48.11%
- 5Y*
- 0.50%
- 10Y*
- 57.65%
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Return for Risk
TQQQ vs. GBTC — Risk / Return Rank
TQQQ
GBTC
TQQQ vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Grayscale Bitcoin Trust (BTC) (GBTC). 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 | GBTC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.68 | -0.54 | +1.22 |
Sortino ratioReturn per unit of downside risk | 1.36 | -0.53 | +1.89 |
Omega ratioGain probability vs. loss probability | 1.19 | 0.94 | +0.25 |
Calmar ratioReturn relative to maximum drawdown | 1.32 | -0.45 | +1.77 |
Martin ratioReturn relative to average drawdown | 3.99 | -0.95 | +4.94 |
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 | GBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | -0.54 | +1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.01 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.70 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.67 | -0.03 |
Correlation
The correlation between TQQQ and GBTC is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TQQQ vs. GBTC - Dividend Comparison
TQQQ's dividend yield for the trailing twelve months is around 0.73%, while GBTC has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TQQQ ProShares UltraPro QQQ | 0.73% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% | 0.00% | 0.00% |
Drawdowns
TQQQ vs. GBTC - Drawdown Comparison
The maximum TQQQ drawdown since its inception was -81.66%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for TQQQ and GBTC.
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Drawdown Indicators
| TQQQ | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -89.91% | +8.25% |
Max Drawdown (1Y)Largest decline over 1 year | -36.97% | -49.55% | +12.58% |
Max Drawdown (5Y)Largest decline over 5 years | -81.66% | -85.80% | +4.14% |
Max Drawdown (10Y)Largest decline over 10 years | -81.66% | -89.91% | +8.25% |
Current DrawdownCurrent decline from peak | -27.92% | -47.02% | +19.10% |
Average DrawdownAverage peak-to-trough decline | -18.67% | -43.48% | +24.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.26% | 23.57% | -11.31% |
Volatility
TQQQ vs. GBTC - Volatility Comparison
ProShares UltraPro QQQ (TQQQ) has a higher volatility of 19.09% compared to Grayscale Bitcoin Trust (BTC) (GBTC) at 10.84%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TQQQ | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.09% | 10.84% | +8.25% |
Volatility (6M)Calculated over the trailing 6-month period | 38.47% | 36.69% | +1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.32% | 45.22% | +22.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.51% | 64.17% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.81% | 82.54% | -16.73% |