XPP vs. BITO
Compare and contrast key facts about ProShares Ultra FTSE China 50 (XPP) and ProShares Bitcoin Strategy ETF (BITO).
XPP and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XPP is a passively managed fund by ProShares that tracks the performance of the FTSE/Xinhua China 25 Index (200%). It was launched on Jun 2, 2009. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
XPP vs. BITO - Performance Comparison
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XPP vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XPP ProShares Ultra FTSE China 50 | -16.13% | 45.84% | 38.18% | -34.77% | -50.06% | -23.83% |
BITO ProShares Bitcoin Strategy ETF | -22.79% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Returns By Period
In the year-to-date period, XPP achieves a -16.13% return, which is significantly higher than BITO's -22.79% return.
XPP
- 1D
- -1.79%
- 1M
- -8.28%
- YTD
- -16.13%
- 6M
- -28.23%
- 1Y
- -7.96%
- 3Y*
- 1.80%
- 5Y*
- -20.38%
- 10Y*
- -5.13%
BITO
- 1D
- 0.60%
- 1M
- -1.72%
- YTD
- -22.79%
- 6M
- -43.10%
- 1Y
- -23.27%
- 3Y*
- 24.87%
- 5Y*
- —
- 10Y*
- —
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XPP vs. BITO - Expense Ratio Comparison
Both XPP and BITO have an expense ratio of 0.95%.
Return for Risk
XPP vs. BITO — Risk / Return Rank
XPP
BITO
XPP vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra FTSE China 50 (XPP) 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.
| XPP | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.17 | -0.52 | +0.35 |
Sortino ratioReturn per unit of downside risk | 0.09 | -0.50 | +0.59 |
Omega ratioGain probability vs. loss probability | 1.01 | 0.94 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | -0.26 | -0.42 | +0.16 |
Martin ratioReturn relative to average drawdown | -0.66 | -0.89 | +0.22 |
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
| XPP | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.17 | -0.52 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | -0.08 | -0.02 |
Correlation
The correlation between XPP and BITO is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
XPP vs. BITO - Dividend Comparison
XPP's dividend yield for the trailing twelve months is around 2.59%, less than BITO's 80.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XPP ProShares Ultra FTSE China 50 | 2.59% | 2.32% | 2.96% | 2.87% | 0.00% | 0.00% | 0.00% | 3.81% | 1.47% |
BITO ProShares Bitcoin Strategy ETF | 80.47% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
XPP vs. BITO - Drawdown Comparison
The maximum XPP drawdown since its inception was -89.90%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for XPP and BITO.
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Drawdown Indicators
| XPP | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.90% | -77.86% | -12.04% |
Max Drawdown (1Y)Largest decline over 1 year | -32.09% | -50.05% | +17.96% |
Max Drawdown (5Y)Largest decline over 5 years | -85.54% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.90% | — | — |
Current DrawdownCurrent decline from peak | -77.80% | -46.75% | -31.05% |
Average DrawdownAverage peak-to-trough decline | -47.52% | -36.57% | -10.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.74% | 23.73% | -10.99% |
Volatility
XPP vs. BITO - Volatility Comparison
ProShares Ultra FTSE China 50 (XPP) has a higher volatility of 13.51% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.84%. This indicates that XPP's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XPP | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.51% | 12.84% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 29.10% | 36.71% | -7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.46% | 45.32% | +2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.66% | 55.77% | +6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.97% | 55.77% | -0.80% |