UXI vs. BITI

Last updated Jul 14, 2026

UXI (ProShares Ultra Industrials) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - UXI is a Leveraged Equities fund tracking the Dow Jones U.S. Industrials Index (200%), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, UXI returned 31.49%/yr vs -30.65%/yr for BITI. At a correlation of -0.32, they often move in opposite directions. UXI charges 0.95%/yr vs 1.03%/yr for BITI.

Performance

UXI vs. BITI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Industrials (UXI) and ProShares Short Bitcoin ETF (BITI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UXI having a 29.38% return and BITI slightly lower at 28.75%.

UXI

• 1D: -2.22%
• 1M: 4.49%
• 6M: 17.45%
• YTD: 29.38%
• 1Y: 35.35%
• 3Y*: 31.49%
• 5Y*: 13.00%
• 10Y*: 19.05%

BITI

• 1D: 2.65%
• 1M: 1.46%
• 6M: 34.68%
• YTD: 28.75%
• 1Y: 68.34%
• 3Y*: -30.65%
• 5Y*: —
• 10Y*: —

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

UXI vs. BITI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UXI ProShares Ultra Industrials	29.38%	28.84%	26.48%	27.34%	19.02%
BITI ProShares Short Bitcoin ETF	28.75%	-1.76%	-62.60%	-66.17%	3.39%

Correlation

The correlation between UXI and BITI is -0.34, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.34
Correlation (3Y) Calculated over the trailing 3-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022	-0.32

Return for Risk

UXI vs. BITI — Risk / Return Rank

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

UXI

UXI Risk / Return Rank: 38
UXI Sharpe Ratio Rank: 37
UXI Sortino Ratio Rank: 38
UXI Omega Ratio Rank: 34
UXI Calmar Ratio Rank: 37
UXI Martin Ratio Rank: 42

BITI

BITI Risk / Return Rank: 57
BITI Sharpe Ratio Rank: 58
BITI Sortino Ratio Rank: 55
BITI Omega Ratio Rank: 50
BITI Calmar Ratio Rank: 68
BITI Martin Ratio Rank: 51

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.

UXI vs. BITI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Industrials (UXI) and ProShares Short Bitcoin ETF (BITI). 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.

	UXI	BITI	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.56	-0.49
Sortino ratio: Return per unit of downside risk	1.62	2.13	-0.50
Omega ratio: Gain probability vs. loss probability	1.19	1.26	-0.07
Calmar ratio: Return relative to maximum drawdown	1.51	2.72	-1.21
Martin ratio: Return relative to average drawdown	5.28	6.78	-1.50

UXI vs. BITI - Sharpe Ratio Comparison

The current UXI Sharpe Ratio is 1.07, which is lower than the BITI Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of UXI and BITI, 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

UXI vs. BITI - Drawdown Comparison

The maximum UXI drawdown since its inception was -89.01%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for UXI and BITI.

Drawdown Indicators

	UXI	BITI	Difference
Max Drawdown Largest peak-to-trough decline	-89.01%	-92.16%	+3.15%
Max Drawdown (1Y) Largest decline over 1 year	-23.59%	-25.28%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-36.42%	-84.63%	+48.21%
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.48%	—	—
Current Drawdown Current decline from peak	-5.82%	-85.94%	+80.12%
Average Drawdown Average peak-to-trough decline	-22.51%	-68.34%	+45.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.71%	10.11%	-3.40%

Volatility

UXI vs. BITI - Volatility Comparison

ProShares Ultra Industrials (UXI) and ProShares Short Bitcoin ETF (BITI) have volatilities of 11.55% and 11.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXI	BITI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.55%	11.38%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	27.49%	34.25%	-6.76%
Volatility (1Y) Calculated over the trailing 1-year period	33.25%	44.14%	-10.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.22%	52.28%	-16.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.45%	52.28%	-12.83%

UXI vs. BITI - Expense Ratio Comparison

UXI has a 0.95% expense ratio, which is lower than BITI's 1.03% expense ratio.

Dividends

UXI vs. BITI - Dividend Comparison

UXI's dividend yield for the trailing twelve months is around 0.50%, less than BITI's 15.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITI ProShares Short Bitcoin ETF	15.10%	1.60%	3.91%	3.33%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UXI ProShares Ultra Industrials	0.50%	0.90%	0.18%	0.21%	0.24%	0.03%	0.29%	0.58%	0.37%	0.24%	0.38%	0.41%

Frequently Asked Questions

Can I hold both UXI and BITI in my portfolio?

UXI and BITI 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 is riskier, UXI or BITI?

UXI has higher volatility (11.55%) compared to BITI (11.38%). In terms of maximum drawdown, UXI dropped -89.01% vs BITI's -92.16%.

Which ETF is better, UXI or BITI?

On 3-year performance, UXI leads with 31.49% vs -30.65% for BITI. On fees, UXI is cheaper at 0.95% per year. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXI or BITI?

Over the 3-year period, UXI has performed better with a 31.49% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXI or BITI?

UXI is cheaper with a 0.95% expense ratio, compared with 1.03% for BITI.

Which ETF pays a higher dividend yield, UXI or BITI?

BITI has the higher dividend yield at 15.10%, compared with 0.50% for UXI.

What is the main difference between UXI and BITI?

UXI is categorized as Leveraged Equities, while BITI is Cryptocurrency. UXI tracks Dow Jones U.S. Industrials Index (200%), while BITI tracks Bloomberg Bitcoin Index. Their fees differ too: 0.95% for UXI and 1.03% for BITI.

Which has better risk-adjusted returns?

BITI currently has the higher Sharpe Ratio (1.56 vs 1.07), 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.