Data as of .
BITU vs BTCL: which held to its multiple?
Over the days both have traded, BITU finished 5.6 points from its stated multiple and BTCL 5.7.
ETFIQ Decay Resistance Score: BITU scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| BITU | BTCL | BITU | BTCL | BITU | BTCL | |
| 1 month | +44.6% | +44.2% | +43.9% | +43.9% | +0.7 pts | +0.2 pts |
| 3 months | +37.3% | +37.2% | +42.9% | +42.9% | −5.6 pts | −5.7 pts |
| 6 months | +2.1% | +1.6% | +16.8% | +16.8% | −14.7 pts | −15.3 pts |
| 1 year | −68.0% | −69.1% | −65.4% | −65.4% | −2.6 pts | −3.8 pts |
| Since launch | −47.3% | −25.7% | +32.8% | +68.0% | −80.1 pts | −93.6 pts |
| BITU ProShares Ultra Bitcoin ETF Aims to return twice the daily move of bitcoin (IBIT) | BTCL T-REX 2X LONG BITCOIN DAILY TARGET ETF Aims to return twice the daily move of bitcoin (IBIT) | |
|---|---|---|
| Issuer | ProShares | T-REX |
| Sets out to return | +2x | +2x |
| On | IBIT | IBIT |
| Segment | crypto | crypto |
| Fund returned, 3 months | +37.3% | +37.2% |
| Underlying returned, 3 months | +21.4% | +21.4% |
| What the stated multiple implies, 3 months | +42.9% | +42.9% |
| Difference from stated, 3 months | −5.6 pts | −5.7 pts |
| Fund returned, 1 year or since launch | −68.0% | −69.1% |
| Difference from stated, over that window | −2.6 pts | −3.8 pts |
| Underlying volatility | 38% | 38% |
| Difference over the days both have traded | −5.6 pts | −5.7 pts |
| Expense ratio | 0.98% | 0.95% |
| Launched | Apr 2, 2024 | Jul 10, 2024 |
BITU in plain words
Three months to Sep 11, 2026: BITU returned +37.3% where its own daily promise gave +42.5%, 5.2 points short. Read the multiple against the whole window instead and +2 times IBIT's 21.4% implies +42.9%, which makes BITU look 5.6 points short. 0.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. BITU aims to return +2 times IBIT's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. IBIT moved at 38% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
BTCL in plain words
Three months to Sep 11, 2026: BTCL returned +37.2% where its own daily promise gave +42.5%, 5.3 points short. Read the multiple against the whole window instead and +2 times IBIT's 21.4% implies +42.9%, which makes BTCL look 5.7 points short. BTCL aims to return +2 times IBIT's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, BITU or BTCL?
- Over the window to Sep 11, 2026, BITU finished 5.6 points from what its multiple implies and BTCL finished 5.7 points from its own, so BITU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are BITU and BTCL levered on the same thing?
- Yes. Both are levered on bitcoin, BITU at +2 times and BTCL at +2 times the daily move.
- Which one decays faster, BITU or BTCL?
- Decay follows how much the underlying moves about. Over this window BITU’s moved at 38% annualized and BTCL’s at 38%, so BITU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold BITU or BTCL for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, BITU or BTCL?
- BITU charges 0.98% a year and BTCL charges 0.95%, so BTCL is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BITU against BTCL, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/BITU-BTCL Free to use with attribution; the underlying files are at Open data.