UPRO vs. BITU
Compare and contrast key facts about ProShares UltraPro S&P 500 (UPRO) and Proshares Ultra Bitcoin ETF (BITU).
UPRO and BITU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. BITU is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index - Benchmark TR Gross. It was launched on Apr 1, 2024. Both UPRO and BITU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UPRO vs. BITU - Performance Comparison
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UPRO vs. BITU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UPRO ProShares UltraPro S&P 500 | -14.14% | 31.88% | 29.96% |
BITU Proshares Ultra Bitcoin ETF | -46.65% | -37.07% | 37.90% |
Returns By Period
In the year-to-date period, UPRO achieves a -14.14% return, which is significantly higher than BITU's -46.65% return.
UPRO
- 1D
- 2.26%
- 1M
- -13.81%
- YTD
- -14.14%
- 6M
- -11.56%
- 1Y
- 34.19%
- 3Y*
- 38.31%
- 5Y*
- 17.16%
- 10Y*
- 25.53%
BITU
- 1D
- 0.89%
- 1M
- -5.67%
- YTD
- -46.65%
- 6M
- -72.88%
- 1Y
- -55.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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UPRO vs. BITU - Expense Ratio Comparison
UPRO has a 0.92% expense ratio, which is lower than BITU's 0.95% expense ratio.
Return for Risk
UPRO vs. BITU — Risk / Return Rank
UPRO
BITU
UPRO vs. BITU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro S&P 500 (UPRO) and Proshares Ultra Bitcoin ETF (BITU). 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.
| UPRO | BITU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.63 | -0.61 | +1.25 |
Sortino ratioReturn per unit of downside risk | 1.21 | -0.59 | +1.81 |
Omega ratioGain probability vs. loss probability | 1.18 | 0.93 | +0.25 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | -0.67 | +1.74 |
Martin ratioReturn relative to average drawdown | 4.22 | -1.29 | +5.51 |
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
| UPRO | BITU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | -0.61 | +1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | -0.32 | +0.92 |
Correlation
The correlation between UPRO and BITU is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
UPRO vs. BITU - Dividend Comparison
UPRO's dividend yield for the trailing twelve months is around 1.02%, less than BITU's 78.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPRO ProShares UltraPro S&P 500 | 1.02% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
BITU Proshares Ultra Bitcoin ETF | 78.08% | 50.23% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
UPRO vs. BITU - Drawdown Comparison
The maximum UPRO drawdown since its inception was -76.82%, roughly equal to the maximum BITU drawdown of -77.76%. Use the drawdown chart below to compare losses from any high point for UPRO and BITU.
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Drawdown Indicators
| UPRO | BITU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.82% | -77.76% | +0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -33.38% | -77.76% | +44.38% |
Max Drawdown (5Y)Largest decline over 5 years | -63.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -76.82% | — | — |
Current DrawdownCurrent decline from peak | -18.68% | -76.14% | +57.46% |
Average DrawdownAverage peak-to-trough decline | -14.53% | -31.36% | +16.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.41% | 40.50% | -32.09% |
Volatility
UPRO vs. BITU - Volatility Comparison
The current volatility for ProShares UltraPro S&P 500 (UPRO) is 16.04%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 26.02%. This indicates that UPRO experiences smaller price fluctuations and is considered to be less risky than BITU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UPRO | BITU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.04% | 26.02% | -9.98% |
Volatility (6M)Calculated over the trailing 6-month period | 28.48% | 74.12% | -45.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.36% | 90.32% | -35.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.34% | 99.57% | -49.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.69% | 99.57% | -45.88% |