ULE vs. BITO
Compare and contrast key facts about ProShares Ultra Euro (ULE) and ProShares Bitcoin Strategy ETF (BITO).
ULE and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ULE is a passively managed fund by ProShares that tracks the performance of the USD/EUR Exchange Rate (-200%). It was launched on Nov 25, 2008. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
ULE vs. BITO - Performance Comparison
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ULE vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ULE ProShares Ultra Euro | -3.35% | 25.97% | -11.73% | 5.08% | -15.51% | -5.01% |
BITO ProShares Bitcoin Strategy ETF | -23.25% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Returns By Period
In the year-to-date period, ULE achieves a -3.35% return, which is significantly higher than BITO's -23.25% return.
ULE
- 1D
- 2.13%
- 1M
- -4.20%
- YTD
- -3.35%
- 6M
- -3.70%
- 1Y
- 11.77%
- 3Y*
- 3.45%
- 5Y*
- -2.68%
- 10Y*
- -2.78%
BITO
- 1D
- 1.75%
- 1M
- 2.92%
- YTD
- -23.25%
- 6M
- -41.96%
- 1Y
- -21.48%
- 3Y*
- 24.62%
- 5Y*
- —
- 10Y*
- —
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ULE vs. BITO - Expense Ratio Comparison
Both ULE and BITO have an expense ratio of 0.95%.
Return for Risk
ULE vs. BITO — Risk / Return Rank
ULE
BITO
ULE vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Euro (ULE) 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.
| ULE | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.69 | -0.48 | +1.17 |
Sortino ratioReturn per unit of downside risk | 1.17 | -0.43 | +1.59 |
Omega ratioGain probability vs. loss probability | 1.14 | 0.95 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 1.13 | -0.46 | +1.58 |
Martin ratioReturn relative to average drawdown | 2.74 | -0.97 | +3.71 |
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
| ULE | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | -0.48 | +1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.21 | -0.08 | -0.14 |
Correlation
The correlation between ULE and BITO is 0.17, 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
ULE vs. BITO - Dividend Comparison
ULE has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 84.71%.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ULE ProShares Ultra Euro | 0.00% | 0.00% | 0.00% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 84.71% | 78.29% | 61.59% | 15.14% |
Drawdowns
ULE vs. BITO - Drawdown Comparison
The maximum ULE drawdown since its inception was -72.74%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for ULE and BITO.
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Drawdown Indicators
| ULE | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.74% | -77.86% | +5.12% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -50.05% | +39.65% |
Max Drawdown (5Y)Largest decline over 5 years | -41.35% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -51.30% | — | — |
Current DrawdownCurrent decline from peak | -62.27% | -47.07% | -15.20% |
Average DrawdownAverage peak-to-trough decline | -45.90% | -36.56% | -9.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.28% | 23.55% | -19.27% |
Volatility
ULE vs. BITO - Volatility Comparison
The current volatility for ProShares Ultra Euro (ULE) is 4.84%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.89%. This indicates that ULE experiences smaller price fluctuations and is considered to be less risky 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
| ULE | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 12.89% | -8.05% |
Volatility (6M)Calculated over the trailing 6-month period | 9.12% | 36.69% | -27.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.10% | 45.35% | -28.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.21% | 55.79% | -39.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.31% | 55.79% | -40.48% |