UGE vs. BITO
UGE (ProShares Ultra Consumer Goods) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - UGE is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (200%), while BITO is a Cryptocurrency fund actively managed by ProShares. UGE is passively managed, while BITO is actively managed. Over the past 3 years, UGE returned 6.30%/yr vs 22.46%/yr for BITO. Their 0.21 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
UGE vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, UGE achieves a 17.97% return, which is significantly higher than BITO's -27.98% return.
UGE
- 1D
- 1.09%
- 1M
- 0.41%
- 6M
- -2.98%
- YTD
- 17.97%
- 1Y
- 9.97%
- 3Y*
- 6.30%
- 5Y*
- -2.42%
- 10Y*
- 8.02%
- ALL TIME*
- 11.27%
BITO
- 1D
- 0.58%
- 1M
- 4.24%
- 6M
- -17.22%
- YTD
- -27.98%
- 1Y
- -46.07%
- 3Y*
- 22.46%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.25B | $2.50B | $2.06B | |
| $1.04M | $851.07K | $1.08M |
UGE vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UGE ProShares Ultra Consumer Goods | 17.97% | -5.21% | 16.40% | 2.38% | -46.78% | 19.78% |
BITO ProShares Bitcoin Strategy ETF | -27.98% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between UGE and BITO is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.21 |
The correlation between UGE and BITO shifts across timeframes, from -0.07 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UGE vs. BITO — Risk / Return Rank
UGE
BITO
UGE vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Goods (UGE) 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.
| UGE | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.83 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | -0.85 | +1.38 |
| Martin ratioReturn relative to average drawdown | 0.86 | -1.29 | +2.15 |
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Drawdowns
UGE vs. BITO - Drawdown Comparison
The maximum UGE drawdown since its inception was -71.36%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for UGE and BITO.
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Drawdown Indicators
| UGE | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.36% | -77.86% | +6.50% |
Max Drawdown (1Y)Largest decline over 1 year | -18.95% | -54.47% | +35.52% |
Max Drawdown (3Y)Largest decline over 3 years | -22.81% | -54.47% | +31.66% |
Max Drawdown (5Y)Largest decline over 5 years | -56.55% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.14% | — | — |
Current DrawdownCurrent decline from peak | -33.35% | -50.33% | +16.98% |
Average DrawdownAverage peak-to-trough decline | -18.86% | -37.20% | +18.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.59% | 35.76% | -24.17% |
Volatility
UGE vs. BITO - Volatility Comparison
ProShares Ultra Consumer Goods (UGE) has a higher volatility of 11.70% compared to ProShares Bitcoin Strategy ETF (BITO) at 8.00%. This indicates that UGE'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.
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Volatility by Period
| UGE | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.70% | 8.00% | +3.70% |
Volatility (6M)Calculated over the trailing 6-month period | 23.05% | 32.76% | -9.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.29% | 44.12% | -15.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.87% | 54.56% | -22.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.26% | 54.56% | -21.30% |
UGE vs. BITO - Expense Ratio Comparison
Both UGE and BITO have an expense ratio of 0.95%.
Dividends
UGE vs. BITO - Dividend Comparison
UGE's dividend yield for the trailing twelve months is around 2.07%, less than BITO's 46.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 46.76% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UGE ProShares Ultra Consumer Goods | 2.07% | 2.54% | 1.43% | 1.20% | 0.74% | 0.20% | 0.41% | 0.86% | 0.76% | 0.68% | 0.76% | 0.60% |
Frequently Asked Questions
UGE and BITO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGE has higher volatility (11.70%) compared to BITO (8.00%). In terms of maximum drawdown, UGE dropped -71.36% vs BITO's -77.86%.
On 3-year performance, BITO leads with 22.46% vs 6.30% for UGE. Both ETFs have the same 0.95% expense ratio. On volatility, BITO has been the lower-risk option at 8.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 22.46% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGE and BITO have the same expense ratio: 0.95% per year.
BITO has the higher dividend yield at 46.76%, compared with 2.07% for UGE.
UGE is categorized as Leveraged Equities, while BITO is Cryptocurrency.
UGE currently has the higher Sharpe Ratio (0.35 vs -1.05), 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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