TXXH vs. BITX

Last updated Jun 30, 2026

TXXH (21Shares 2x Long HYPE ETF) and BITX (2x Bitcoin Strategy ETF) are both exchange-traded funds - TXXH is a Leveraged Cryptocurrency fund actively managed by 21Shares, while BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%). TXXH is actively managed, while BITX is passively managed. A 0.55 correlation means they provide meaningful diversification when combined. TXXH charges 1.89%/yr vs 2.38%/yr for BITX.

Performance

TXXH vs. BITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares 2x Long HYPE ETF (TXXH) and 2x Bitcoin Strategy ETF (BITX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TXXH

• 1D: 6.57%
• 1M: -13.53%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITX

• 1D: 1.96%
• 1M: -34.50%
• YTD: -60.34%
• 6M: -60.03%
• 1Y: -77.47%
• 3Y*: -0.96%
• 5Y*: —
• 10Y*: —

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

TXXH vs. BITX - Yearly Performance Comparison

	2026 (YTD)
TXXH 21Shares 2x Long HYPE ETF	115.50%
BITX 2x Bitcoin Strategy ETF	-38.96%

Correlation

The correlation between TXXH and BITX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026	0.55

Return for Risk

TXXH vs. BITX — Risk / Return Rank

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

TXXH

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

BITX

BITX Risk / Return Rank: 2
BITX Sharpe Ratio Rank: 3
BITX Sortino Ratio Rank: 1
BITX Omega Ratio Rank: 1
BITX Calmar Ratio Rank: 1
BITX 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.

TXXH vs. BITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares 2x Long HYPE ETF (TXXH) 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.

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.

	TXXH	BITX	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.88	—
Sortino ratio: Return per unit of downside risk	—	-1.66	—
Omega ratio: Gain probability vs. loss probability	—	0.82	—
Calmar ratio: Return relative to maximum drawdown	—	-0.93	—
Martin ratio: Return relative to average drawdown	—	-1.43	—

Drawdowns

TXXH vs. BITX - Drawdown Comparison

The maximum TXXH drawdown since its inception was -50.46%, smaller than the maximum BITX drawdown of -83.08%. Use the drawdown chart below to compare losses from any high point for TXXH and BITX.

Drawdown Indicators

	TXXH	BITX	Difference
Max Drawdown Largest peak-to-trough decline	-50.46%	-83.08%	+32.62%
Max Drawdown (1Y) Largest decline over 1 year	—	-83.08%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-83.08%	—
Current Drawdown Current decline from peak	-29.17%	-82.47%	+53.30%
Average Drawdown Average peak-to-trough decline	-15.39%	-32.77%	+17.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	54.24%	—

Volatility

Volatility by Period

	TXXH	BITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	27.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	69.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	195.45%	88.20%	+107.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	195.45%	98.05%	+97.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	195.45%	98.05%	+97.40%

TXXH vs. BITX - Expense Ratio Comparison

TXXH has a 1.89% expense ratio, which is lower than BITX's 2.38% expense ratio.

Dividends

TXXH vs. BITX - Dividend Comparison

TXXH has not paid dividends to shareholders, while BITX's dividend yield for the trailing twelve months is around 35.23%.

Position	TTM	2025	2024
BITX 2x Bitcoin Strategy ETF	35.23%	21.69%	10.70%
TXXH 21Shares 2x Long HYPE ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TXXH and BITX in my portfolio?

TXXH and BITX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TXXH or BITX?

On fees, TXXH is cheaper at 1.89% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TXXH or BITX?

TXXH is cheaper with a 1.89% expense ratio, compared with 2.38% for BITX.

Which ETF pays a higher dividend yield, TXXH or BITX?

BITX has the higher dividend yield at 35.23%, compared with 0.00% for TXXH.

What is the main difference between TXXH and BITX?

TXXH is categorized as Leveraged Cryptocurrency, while BITX is Cryptocurrency. They also come from different issuers: 21Shares and Volatility Shares. Their fees differ too: 1.89% for TXXH and 2.38% for BITX.