USD vs. IBIT
USD (ProShares Ultra Semiconductors) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, USD returned 222.89% vs -39.67% for IBIT. At a 0.35 correlation, their price movements are largely independent. USD charges 0.95%/yr vs 0.25%/yr for IBIT.
Performance
USD vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, USD achieves a 86.87% return, which is significantly higher than IBIT's -27.41% return.
USD
- 1D
- 2.08%
- 1M
- 2.49%
- YTD
- 86.87%
- 6M
- 97.77%
- 1Y
- 222.89%
- 3Y*
- 111.11%
- 5Y*
- 65.02%
- 10Y*
- 60.21%
IBIT
- 1D
- -0.03%
- 1M
- -19.59%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USD vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
USD ProShares Ultra Semiconductors | 86.87% | 62.08% | 135.19% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between USD and IBIT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.35 |
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Return for Risk
USD vs. IBIT — Risk / Return Rank
USD
IBIT
USD vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and iShares Bitcoin Trust ETF (IBIT). 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.
| USD | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.13 | ||
| Sortino ratioReturn per unit of downside risk | +4.35 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 0.85 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 6.58 | -0.78 | +7.36 |
| Martin ratioReturn relative to average drawdown | 18.43 | -1.37 | +19.80 |
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Drawdowns
USD vs. IBIT - Drawdown Comparison
The maximum USD drawdown since its inception was -88.63%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for USD and IBIT.
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Drawdown Indicators
| USD | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.63% | -52.11% | -36.52% |
Max Drawdown (1Y)Largest decline over 1 year | -31.80% | -52.11% | +20.31% |
Max Drawdown (3Y)Largest decline over 3 years | -64.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -77.85% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -77.85% | — | — |
Current DrawdownCurrent decline from peak | -13.67% | -49.45% | +35.78% |
Average DrawdownAverage peak-to-trough decline | -32.32% | -16.53% | -15.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.34% | 29.64% | -18.30% |
Volatility
USD vs. IBIT - Volatility Comparison
ProShares Ultra Semiconductors (USD) has a higher volatility of 29.56% compared to iShares Bitcoin Trust ETF (IBIT) at 12.07%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USD | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.56% | 12.07% | +17.49% |
Volatility (6M)Calculated over the trailing 6-month period | 52.44% | 34.45% | +17.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.34% | 44.10% | +21.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.19% | 50.26% | +26.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.61% | 50.26% | +19.35% |
USD vs. IBIT - Expense Ratio Comparison
USD has a 0.95% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
USD vs. IBIT - Dividend Comparison
USD's dividend yield for the trailing twelve months is around 0.25%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.25% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
USD and IBIT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (29.56%) compared to IBIT (12.07%). In terms of maximum drawdown, USD dropped -88.63% vs IBIT's -52.11%.
On 1-year performance, USD leads with 222.89% vs -39.67% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 12.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USD has performed better with a 222.89% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.95% for USD.
USD has the higher dividend yield at 0.25%, compared with 0.00% for IBIT.
USD is categorized as Leveraged Equities, while IBIT is Cryptocurrency. USD tracks Dow Jones U.S. Semiconductors Index (200%), while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for USD and 0.25% for IBIT.
USD currently has the higher Sharpe Ratio (3.20 vs -0.92), 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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