Data as of Oct 28, 2026.
BITO vs TLT: Differences, Returns & Fees
Over the year to Oct 28, 2026, BITO returned −30.5% to TLT's −7.9%, and TLT charges 0.15% to BITO's 0.95%.
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Net assets: $1.6bn on Oct 28, 2026 for ProShares Bitcoin ETF, and $47.4bn on Oct 27, 2026 for iShares 20+ Year Treasury Bond ETF.
Pair scorecard
TLT costs 0.80 points a year less; their one-year returns differ by 22.6 points; TLT is far larger, $47.4bn against $1.6bn.
| Measure | BITO | TLT |
|---|---|---|
| Return | ||
| Total return, 1 year | −30.5% | −7.9% |
| Drawdown | ||
| Below its high | 42.6%, high on Aug 4, 2020 | |
| Benchmark | ||
| What it tracks | Bitcoin futures and swaps on Bitcoin | ICE U.S. Treasury 20+ Year Bond Index |
| Cost and size | ||
| Expense ratio | 0.95% | 0.15% |
| Net assets, as of Oct 27, 2026 | $1.6bn | $47.4bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
What they share
By the books each fund has filed, BITO and TLT hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
BITO and TLT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BITO and TLT do different jobs. What does each one do in a portfolio?
- What each follows. BITO follows Bitcoin futures and swaps on Bitcoin and TLT follows ICE U.S. Treasury 20+ Year Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 BITO returned −30.5% and TLT −7.9% with distributions reinvested, a gap of 22.6 points.
Data as of Oct 28, 2026.
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BITO is a registered fund that reaches Bitcoin through what its N-PORT for Aug 31, 2026 lists: Bitcoin futures and swaps on Bitcoin. Over the year to Oct 28, 2026, Bitcoin moved −28.3% and BITO returned −30.5%. That leaves it 2.2 percentage points behind. BITO is a registered investment company: it files a monthly N-PORT rather than a 10-K. Its N-PORT for Aug 31, 2026 puts 67.9% of its net assets in ProShares GENIUS Money Market ETF.
A holder gets exposure to Bitcoin without the fund holding the coin itself. That difference is the fee, the cost of rolling the futures from one month to the next, what the futures traded at against Bitcoin, and what the market paid for the shares, all of it together. It is the only number on this page the sponsor does not publish itself.
TLT
TLT tracks an index of 20+ year Treasuries. Over the year to Oct 28, 2026 it returned −7.9% with distributions reinvested, against −7.8% for its benchmark, the ICE U.S. Treasury 20+ Year Bond Index. The prospectus expense ratio is 0.15% a year. It sat 42.6% below its high of Aug 4, 2020 on Oct 28, 2026.
Questions people ask
- Are BITO and TLT in the same category?
- BITO is a crypto futures ETF and TLT is a bond ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, BITO or TLT?
- In the year to Oct 28, 2026, with distributions reinvested, BITO returned −30.5% and TLT −7.9%.
- Which is cheaper, BITO or TLT?
- TLT is cheaper, by 0.80 percentage points a year. That is about $80 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, BITO against TLT, data as of Oct 28, 2026. https://etfiq.com/compare/any/bito-vs-tlt
ETFIQ. (Oct 28, 2026). BITO against TLT. Retrieved from https://etfiq.com/compare/any/bito-vs-tlt
[BITO against TLT (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bito-vs-tlt)
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