TSLI vs. BITO

Last updated Jun 30, 2026

TSLI (ProShares Ultra TSLA) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - TSLI is a Leveraged Equities fund actively managed by ProShares, while BITO is a Cryptocurrency fund actively managed by ProShares. Both are actively managed. At a 0.44 correlation, their price movements are largely independent.

Performance

TSLI vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra TSLA (TSLI) 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, TSLI achieves a -27.63% return, which is significantly higher than BITO's -32.24% return.

TSLI

• 1D: 16.30%
• 1M: -13.97%
• YTD: -27.63%
• 6M: -31.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITO

• 1D: 0.86%
• 1M: -18.15%
• YTD: -32.24%
• 6M: -31.91%
• 1Y: -45.87%
• 3Y*: 17.66%
• 5Y*: —
• 10Y*: —

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

TSLI vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025
TSLI ProShares Ultra TSLA	-27.63%	48.21%
BITO ProShares Bitcoin Strategy ETF	-32.24%	-22.44%

Correlation

The correlation between TSLI and BITO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.44

Return for Risk

TSLI vs. BITO — Risk / Return Rank

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

TSLI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 1
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.

TSLI vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra TSLA (TSLI) 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.

	TSLI	BITO	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.04	—
Sortino ratio: Return per unit of downside risk	—	-1.57	—
Omega ratio: Gain probability vs. loss probability	—	0.83	—
Calmar ratio: Return relative to maximum drawdown	—	-0.85	—
Martin ratio: Return relative to average drawdown	—	-1.43	—

Drawdowns

TSLI vs. BITO - Drawdown Comparison

The maximum TSLI drawdown since its inception was -54.83%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for TSLI and BITO.

Drawdown Indicators

	TSLI	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-54.83%	-77.86%	+23.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-54.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-54.01%	—
Current Drawdown Current decline from peak	-39.83%	-53.27%	+13.44%
Average Drawdown Average peak-to-trough decline	-26.12%	-36.92%	+10.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	32.01%	—

Volatility

Volatility by Period

	TSLI	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	88.44%	44.21%	+44.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.44%	54.96%	+33.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.44%	54.96%	+33.48%

Dividends

TSLI vs. BITO - Dividend Comparison

TSLI's dividend yield for the trailing twelve months is around 9.72%, less than BITO's 73.50% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	73.50%	78.29%	61.59%	15.14%
TSLI ProShares Ultra TSLA	9.72%	6.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLI and BITO in my portfolio?

TSLI and BITO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

BITO has the higher dividend yield at 73.50%, compared with 9.72% for TSLI.

What is the main difference between TSLI and BITO?

TSLI is categorized as Leveraged Equities, while BITO is Cryptocurrency.