BITO vs BTC: Performance, Holdings, Fees & Risk
BITO and BTC are ETFs, but they can differ materially in exposure, yield, fees and risk. BITO is ProShares Bitcoin ETF, while BTC is Grayscale Bitcoin Mini Trust ETF. BTC has the lower expense ratio. Current AlgovestIQ evidence has BITO ahead on AIQ Score, 59 versus 56.
| Metric | BITO | BTC |
|---|---|---|
| Fund | ||
| Expense ratio | 0.95% | 0.15% |
| Holdings | 5 | 1 |
| Average volume | 172,158,118 | 1,756,341 |
| Performance | ||
| 1Y return | -39.4% | -23.9% |
| YTD return | -9.5% | -5.8% |
| Risk | ||
| Annualized volatility | 46.7% | 45% |
| Max drawdown (1Y) | -57.4% | -48.4% |
| Beta | 1.76 | 1.76 |
| Sharpe ratio | -0.85 | -0.43 |
| Sortino ratio | -1.25 | -0.68 |
| AlgovestIQ | ||
| AIQ Score | 59/100 | 56/100 |
| AIQ Edge Score | 7/10 | 6/10 |
| Momentum | 57/100 | 57/100 |
| Risk Resilience | 44/100 | 50/100 |
AlgovestIQ AIQ Comparison
ProShares Bitcoin ETF vs Grayscale Bitcoin Mini Trust ETF
BITO leads
BITO leads by 3 AIQ points, primarily on Quality.
Fragile: 0 of 3 evidence groups support BITO, and its current signal state is conflicted.
ProShares Bitcoin ETF
Grayscale Bitcoin Mini Trust ETF
The Algovestiq AIQ Score currently favors BITO over BTC, 59 versus 56 as of Oct 21, 2026. BITO's advantage is driven primarily by stronger quality, while BTC holds the stronger risk resilience profile. BITO also shows the weaker technical structure relative to its 50-day moving average. 0 of 3 covered evidence groups favor BITO today, and the comparison is rated Fragile on stability: the AIQ gap is narrow at 3 points. BITO lead: Stable — the AIQ differential has held near 3 points over 30 sessions.
Compare ProShares Bitcoin ETF and Grayscale Bitcoin Mini Trust ETF across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
BITO vs BTC: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | BITO | BTC | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.95% | 0.15% | BTC |
| Smaller drawdownsMax drawdown, 1 year | -57.4% | -48.4% | BTC |
| Lower volatilityAnnualized volatility, 1 year | 46.7% | 45% | BTC |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare BITO and BTC against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Quality68 vs 58BITO +10
- Risk Resilience44 vs 50BTC +6
- Momentum57 vs 57Even
0 of 3 evidence groups favor BITO. BITO’s edge is concentrated in quality; BTC keeps a meaningful risk resilience edge.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
Largest factor move: Momentum +3
No signal started or stopped since the prior session; its 3 active signals are unchanged.
Largest factor move: Momentum +3
No signal started or stopped since the prior session; its 5 active signals are unchanged.
BITO's lead was unchanged in the latest session.
Deeper signal detail for each name lives on its own signals page — BITO and BTC both carry a full feed there.
The central trade-off
BITO (ProShares Bitcoin ETF): the stronger current systematic profile, led by quality.
BTC (Grayscale Bitcoin Mini Trust ETF): the counter-case, on risk resilience, technicals.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | BITO | BTC | Why it matters |
|---|---|---|---|
| Expense ratio | 0.95% | 0.15% | Lower is better — it compounds against you every year you hold. |
| Holdings | 5 | 1 | More holdings means broader diversification, not better returns. |
| Average volume | 172,158,118 | 1,756,341 | Liquidity — matters most if you trade size. |
| Annualized volatility | 46.7% | 45% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -57.4% | -48.4% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | -0.85 | -0.43 | Return per unit of risk. Higher is better. |
| Beta | 1.76 | 1.76 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
AIQ Agreement Matrix
0 of 3 covered evidence groups favor BITO. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | Even | 59 vs 56 |
| Fundamentals | Not covered | Not covered |
| Valuation | Not covered | Not covered |
| Technicals | BTC | Price vs 50-day 6.9% vs 7.5%; vs 200-day 9.6% vs 11.9% |
| Risk Resilience | BTC | Risk Resilience 44 vs 50 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of BITO and BTC and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is narrow at 3 points. (argues the conclusion is provisional)
- Only 0 of 3 covered evidence groups agree. (argues the conclusion is provisional)
- The lead has been steady session to session. (supports the conclusion holding)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on BITO.
How the comparison changed
120 daily snapshots · Jun 21 – Oct 20BITO lead: Stable — the AIQ differential has held near 3 points over 30 sessions.
- Today
- BITO +3
- 59 vs 56
- 7 sessions ago
- BITO +4
- 56 vs 52
- 30 sessions ago
- BITO +3
- 61 vs 58
- 90 sessions ago
- BTC +1
- 59 vs 60
The lead changed hands 16 times in this window, most recently on Sep 6 when BITO moved ahead of BTC.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
2 bullish / 1 bearish, conflicted
No signal that the other name lacks.
3 bullish / 1 bearish / 1 neutral, conflicted
Only BTC
- Bollinger Band Squeeze — neutral, volatility, short horizon
- EMA Ribbon Expansion Bullish — bullish, trend, medium horizon
Both carry 3 more signals that do not separate them: Golden Cross Active, Uptrend Structure Active, MACD Bearish Crossover.
BITO leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Price and the AIQ Score both moved up over the latest session (price +2.45%, AIQ +1 points).
Price and the AIQ Score both moved up over the latest session (price +2.38%, AIQ +1 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1BTC closes the Quality gap — currently 10 points behind, the largest single contributor to BITO's edge.
- 2BTC's Bollinger Band Squeeze turns directional — it is neutral today and would confirm a change in trend.
- 3BITO's conflicting signal state resolves bearish — it currently carries 2 bullish and 1 bearish rules at once.
- 4A regime shift changes factor weighting — Quality and Value carry the heaviest weights in the composite, so a rotation toward either would move the result most.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
BTC leads 6 of 6 windows| Metric | BITO | BTC |
|---|---|---|
| 1 week (5 sessions) | -1.1% | -0.8% |
| 1 month (20 sessions) | -4.9% | -4.3% |
| 3 months (63 sessions) | 23% | 25.2% |
| 6 months (126 sessions) | 7% | 9.9% |
| Year to date | -9.5% | -5.8% |
| 1 year (252 sessions) | -39.4% | -23.9% |
Technicals
BTC has the stronger structure| Metric | BITO | BTC |
|---|---|---|
| RSI (14) | 44.2 | 45.7 |
| ADX (14) | 21.1 | 22.1 |
| Price vs 50-day | 6.9% | 7.5% |
| Price vs 200-day | 9.6% | 11.9% |
| Volatility (1M, annualized) | 21.6% | 21.6% |
Risk
BTC is the more resilient| Metric | BITO | BTC |
|---|---|---|
| Beta | 1.76 | 1.76 |
| Sharpe ratio | -0.85 | -0.43 |
| Sortino ratio | -1.25 | -0.68 |
| Max drawdown | -57.4% | -48.4% |
| Current drawdown | -41.2% | -27.5% |
| Annualized volatility | 46.7% | 45% |
| Value at risk (95%) | -4.5% | -4% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
Which has the lower expense ratio?
BTC has the lower expense ratio, 0.15% a year against 0.95% for BITO.
Which ETF has been more volatile?
BITO has been more volatile over the past year, at 46.7% annualized against 45% for BTC.
Which ETF has had the smaller drawdown?
BTC fell less from peak to trough over the past year: -48.4% against -57.4% for BITO.
Compare BITO and BTC with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.