URE vs. BITO

Last updated Jun 24, 2026

URE (ProShares Ultra Real Estate) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - URE is a REIT fund tracking the Dow Jones U.S. Real Estate Index (200%), while BITO is a Cryptocurrency fund actively managed by ProShares. URE is passively managed, while BITO is actively managed. Over the past 3 years, URE returned 12.71%/yr vs 18.00%/yr for BITO. At a 0.24 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

URE vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Real Estate (URE) 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, URE achieves a 21.30% return, which is significantly higher than BITO's -29.93% return.

URE

• 1D: 2.89%
• 1M: 1.25%
• YTD: 21.30%
• 6M: 22.37%
• 1Y: 11.16%
• 3Y*: 12.71%
• 5Y*: -2.86%
• 10Y*: 3.29%

BITO

• 1D: -3.31%
• 1M: -18.05%
• YTD: -29.93%
• 6M: -30.03%
• 1Y: -42.09%
• 3Y*: 18.00%
• 5Y*: —
• 10Y*: —

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

URE vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
URE ProShares Ultra Real Estate	21.30%	-3.65%	0.35%	11.58%	-49.64%	18.57%
BITO ProShares Bitcoin Strategy ETF	-29.93%	-11.19%	104.45%	137.33%	-63.91%	-29.31%

Correlation

The correlation between URE and BITO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021	0.24

The correlation between URE and BITO shifts across timeframes, from 0.13 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

URE vs. BITO — Risk / Return Rank

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

URE

URE Risk / Return Rank: 16
URE Sharpe Ratio Rank: 15
URE Sortino Ratio Rank: 15
URE Omega Ratio Rank: 15
URE Calmar Ratio Rank: 17
URE Martin Ratio Rank: 17

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.

URE vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Real Estate (URE) 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.

	URE	BITO	Difference
Sharpe ratio: Return per unit of total volatility	0.40	-0.96	+1.36
Sortino ratio: Return per unit of downside risk	0.71	-1.38	+2.09
Omega ratio: Gain probability vs. loss probability	1.09	0.85	+0.24
Calmar ratio: Return relative to maximum drawdown	0.68	-0.80	+1.47
Martin ratio: Return relative to average drawdown	1.63	-1.35	+2.98

URE vs. BITO - Sharpe Ratio Comparison

The current URE Sharpe Ratio is 0.40, which is higher than the BITO Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of URE 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

URE vs. BITO - Drawdown Comparison

The maximum URE drawdown since its inception was -97.16%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for URE and BITO.

Drawdown Indicators

	URE	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-97.16%	-77.86%	-19.30%
Max Drawdown (1Y) Largest decline over 1 year	-16.50%	-53.10%	+36.60%
Max Drawdown (3Y) Largest decline over 3 years	-33.77%	-53.10%	+19.33%
Max Drawdown (5Y) Largest decline over 5 years	-63.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.49%	—	—
Current Drawdown Current decline from peak	-49.63%	-51.67%	+2.04%
Average Drawdown Average peak-to-trough decline	-64.47%	-36.86%	-27.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.86%	31.28%	-24.42%

Volatility

URE vs. BITO - Volatility Comparison

The current volatility for ProShares Ultra Real Estate (URE) is 10.65%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 12.79%. This indicates that URE 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.

Volatility by Period

	URE	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.65%	12.79%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	21.26%	34.39%	-13.13%
Volatility (1Y) Calculated over the trailing 1-year period	28.21%	44.08%	-15.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.44%	55.02%	-17.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.64%	55.02%	-14.38%

URE vs. BITO - Expense Ratio Comparison

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

Dividends

URE vs. BITO - Dividend Comparison

URE's dividend yield for the trailing twelve months is around 1.93%, less than BITO's 71.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITO ProShares Bitcoin Strategy ETF	71.07%	78.29%	61.59%	15.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
URE ProShares Ultra Real Estate	1.93%	2.42%	2.09%	1.32%	1.26%	0.58%	0.94%	1.10%	1.53%	0.93%	0.96%	0.81%

Frequently Asked Questions

Can I hold both URE and BITO in my portfolio?

URE and BITO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URE or BITO?

BITO has higher volatility (12.79%) compared to URE (10.65%). In terms of maximum drawdown, URE dropped -97.16% vs BITO's -77.86%.

Which ETF is better, URE or BITO?

On 3-year performance, BITO leads with 18.00% vs 12.71% for URE. Both ETFs have the same 0.95% expense ratio. On volatility, URE has been the lower-risk option at 10.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URE or BITO?

Over the 3-year period, BITO has performed better with a 18.00% return vs 12.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URE or BITO?

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

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

BITO has the higher dividend yield at 71.07%, compared with 1.93% for URE.

What is the main difference between URE and BITO?

URE is categorized as REIT, while BITO is Cryptocurrency.

Which has better risk-adjusted returns?

URE currently has the higher Sharpe Ratio (0.40 vs -0.96), 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.