UCC vs. BITO

Last updated Jul 16, 2026

UCC (ProShares Ultra Consumer Services) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - UCC is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Services Index (200%), while BITO is a Cryptocurrency fund actively managed by ProShares. UCC is passively managed, while BITO is actively managed. Over the past 3 years, UCC returned 10.60%/yr vs 21.02%/yr for BITO. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

UCC vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Consumer Services (UCC) 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, UCC achieves a -8.35% return, which is significantly higher than BITO's -27.10% return.

UCC

• 1D: 1.57%
• 1M: -3.07%
• 6M: -12.26%
• YTD: -8.35%
• 1Y: 5.17%
• 3Y*: 10.60%
• 5Y*: -0.94%
• 10Y*: 13.39%

BITO

• 1D: 0.57%
• 1M: -2.64%
• 6M: -34.63%
• YTD: -27.10%
• 1Y: -46.42%
• 3Y*: 21.02%
• 5Y*: —
• 10Y*: —

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

UCC vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UCC ProShares Ultra Consumer Services	-8.35%	2.21%	44.24%	61.67%	-57.59%	-0.88%
BITO ProShares Bitcoin Strategy ETF	-27.10%	-11.19%	104.45%	137.33%	-63.91%	-29.31%

Correlation

The correlation between UCC and BITO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021	0.41

Return for Risk

UCC vs. BITO — Risk / Return Rank

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

UCC

UCC Risk / Return Rank: 12
UCC Sharpe Ratio Rank: 12
UCC Sortino Ratio Rank: 12
UCC Omega Ratio Rank: 12
UCC Calmar Ratio Rank: 11
UCC Martin Ratio Rank: 12

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.

UCC vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) 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.

	UCC	BITO	Difference
Sharpe ratio: Return per unit of total volatility	0.14	-1.06	+1.20
Sortino ratio: Return per unit of downside risk	0.46	-1.60	+2.06
Omega ratio: Gain probability vs. loss probability	1.05	0.82	+0.23
Calmar ratio: Return relative to maximum drawdown	0.18	-0.85	+1.03
Martin ratio: Return relative to average drawdown	0.45	-1.38	+1.83

UCC vs. BITO - Sharpe Ratio Comparison

The current UCC Sharpe Ratio is 0.14, which is higher than the BITO Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of UCC 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.

Drawdowns

UCC vs. BITO - Drawdown Comparison

The maximum UCC drawdown since its inception was -83.05%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for UCC and BITO.

Drawdown Indicators

	UCC	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-83.05%	-77.86%	-5.19%
Max Drawdown (1Y) Largest decline over 1 year	-29.14%	-54.47%	+25.33%
Max Drawdown (3Y) Largest decline over 3 years	-48.01%	-54.47%	+6.46%
Max Drawdown (5Y) Largest decline over 5 years	-61.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.77%	—	—
Current Drawdown Current decline from peak	-18.17%	-49.72%	+31.55%
Average Drawdown Average peak-to-trough decline	-21.78%	-37.05%	+15.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.42%	33.76%	-22.34%

Volatility

UCC vs. BITO - Volatility Comparison

ProShares Ultra Consumer Services (UCC) has a higher volatility of 12.15% compared to ProShares Bitcoin Strategy ETF (BITO) at 11.45%. This indicates that UCC's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCC	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.15%	11.45%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	28.41%	34.67%	-6.26%
Volatility (1Y) Calculated over the trailing 1-year period	37.29%	44.18%	-6.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.00%	54.82%	-10.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.75%	54.82%	-14.07%

UCC vs. BITO - Expense Ratio Comparison

Both UCC and BITO have an expense ratio of 0.95%.

Dividends

UCC vs. BITO - Dividend Comparison

UCC's dividend yield for the trailing twelve months is around 1.26%, less than BITO's 59.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITO ProShares Bitcoin Strategy ETF	59.70%	78.29%	61.59%	15.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UCC ProShares Ultra Consumer Services	1.26%	1.10%	0.17%	0.04%	0.25%	0.00%	0.02%	0.17%	0.18%	0.14%	0.21%	0.14%

Frequently Asked Questions

Can I hold both UCC and BITO in my portfolio?

UCC and BITO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCC or BITO?

UCC has higher volatility (12.15%) compared to BITO (11.45%). In terms of maximum drawdown, UCC dropped -83.05% vs BITO's -77.86%.

Which ETF is better, UCC or BITO?

On 3-year performance, BITO leads with 21.02% vs 10.60% for UCC. Both ETFs have the same 0.95% expense ratio. On volatility, BITO has been the lower-risk option at 11.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCC or BITO?

Over the 3-year period, BITO has performed better with a 21.02% return vs 10.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCC or BITO?

UCC and BITO have the same expense ratio: 0.95% per year.

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

BITO has the higher dividend yield at 59.70%, compared with 1.26% for UCC.

What is the main difference between UCC and BITO?

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

Which has better risk-adjusted returns?

UCC currently has the higher Sharpe Ratio (0.14 vs -1.06), 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.