URSP vs. BITO

Last updated Jun 5, 2026

URSP (ProShares Ultra S&P 500 Equal Weight ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - URSP is a Leveraged Equities fund tracking the S&P 500 Equal Weight Index, while BITO is a Cryptocurrency fund actively managed by ProShares. URSP is passively managed, while BITO is actively managed. At a 0.34 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

URSP vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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, URSP achieves a 18.34% return, which is significantly higher than BITO's -28.44% return.

URSP

• 1D: 1.51%
• 1M: 7.08%
• YTD: 18.34%
• 6M: 18.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITO

• 1D: -2.81%
• 1M: -22.52%
• YTD: -28.44%
• 6M: -32.46%
• 1Y: -41.98%
• 3Y*: 26.82%
• 5Y*: —
• 10Y*: —

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

URSP vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025
URSP ProShares Ultra S&P 500 Equal Weight ETF	18.34%	1.57%
BITO ProShares Bitcoin Strategy ETF	-28.44%	-23.15%

Correlation

The correlation between URSP and BITO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 28, 2025	0.34

Return for Risk

URSP vs. BITO — Risk / Return Rank

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

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
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.

URSP vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	URSP	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	-0.10	+1.26

Drawdowns

URSP vs. BITO - Drawdown Comparison

The maximum URSP drawdown since its inception was -15.72%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for URSP and BITO.

Drawdown Indicators

	URSP	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-15.72%	-77.86%	+62.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-50.64%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-50.64%	—
Current Drawdown Current decline from peak	0.00%	-50.64%	+50.64%
Average Drawdown Average peak-to-trough decline	-3.18%	-36.75%	+33.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	29.27%	—

Volatility

Volatility by Period

	URSP	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.44%	43.61%	-20.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.44%	55.10%	-31.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.44%	55.10%	-31.66%

URSP vs. BITO - Expense Ratio Comparison

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

Dividends

URSP vs. BITO - Dividend Comparison

URSP's dividend yield for the trailing twelve months is around 0.58%, less than BITO's 69.59% yield.

Position	TTM	2025	2024	2023
BITO ProShares Bitcoin Strategy ETF	69.59%	78.29%	61.59%	15.14%
URSP ProShares Ultra S&P 500 Equal Weight ETF	0.58%	0.38%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URSP and BITO in my portfolio?

URSP and BITO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, URSP or BITO?

Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, URSP or BITO?

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

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

BITO has the higher dividend yield at 69.59%, compared with 0.58% for URSP.

What is the main difference between URSP and BITO?

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