BCHG vs. BITX
BCHG (Grayscale Bitcoin Cash Trust) is a stock, while BITX (2x Bitcoin Strategy ETF) is Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%). Over the past year, BCHG returned -42.19% vs -74.00% for BITX. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
BCHG vs. BITX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BCHG achieves a -58.45% return, which is significantly lower than BITX's -54.95% return.
BCHG
- 1D
- 1.04%
- 1M
- -43.55%
- YTD
- -58.45%
- 6M
- -59.48%
- 1Y
- -42.19%
- 3Y*
- 30.68%
- 5Y*
- -38.62%
- 10Y*
- —
BITX
- 1D
- -5.55%
- 1M
- -40.63%
- YTD
- -54.95%
- 6M
- -60.56%
- 1Y
- -74.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCHG vs. BITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BCHG Grayscale Bitcoin Cash Trust | -58.45% | -17.71% | 24.56% | 134.17% |
BITX 2x Bitcoin Strategy ETF | -54.95% | -38.71% | 163.41% | 47.23% |
Correlation
The correlation between BCHG and BITX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023 | 0.57 |
The correlation between BCHG and BITX has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BCHG vs. BITX — Risk / Return Rank
BCHG
BITX
BCHG vs. BITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Cash Trust (BCHG) and 2x Bitcoin Strategy ETF (BITX). 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.
| BCHG | BITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.83 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | -0.93 | +0.27 |
| Martin ratioReturn relative to average drawdown | -1.72 | -1.47 | -0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BCHG | BITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.61 | -0.85 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.22 | 0.02 | -0.25 |
Drawdowns
BCHG vs. BITX - Drawdown Comparison
The maximum BCHG drawdown since its inception was -99.36%, which is greater than BITX's maximum drawdown of -80.09%. Use the drawdown chart below to compare losses from any high point for BCHG and BITX.
Loading charts...
Drawdown Indicators
| BCHG | BITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.36% | -80.09% | -19.27% |
Max Drawdown (1Y)Largest decline over 1 year | -64.18% | -80.09% | +15.91% |
Max Drawdown (3Y)Largest decline over 3 years | -91.79% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.25% | — | — |
Current DrawdownCurrent decline from peak | -96.81% | -80.09% | -16.72% |
Average DrawdownAverage peak-to-trough decline | -86.50% | -31.77% | -54.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.54% | 50.28% | -25.74% |
Volatility
BCHG vs. BITX - Volatility Comparison
Grayscale Bitcoin Cash Trust (BCHG) has a higher volatility of 21.07% compared to 2x Bitcoin Strategy ETF (BITX) at 18.52%. This indicates that BCHG's price experiences larger fluctuations and is considered to be riskier than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BCHG | BITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.07% | 18.52% | +2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 48.78% | 68.11% | -19.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.91% | 86.90% | -16.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 108.69% | 98.26% | +10.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 132.12% | 98.26% | +33.86% |
Dividends
BCHG vs. BITX - Dividend Comparison
BCHG has not paid dividends to shareholders, while BITX's dividend yield for the trailing twelve months is around 35.20%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BCHG Grayscale Bitcoin Cash Trust | 0.00% | 0.00% | 0.00% |
BITX 2x Bitcoin Strategy ETF | 35.20% | 21.69% | 10.70% |
Frequently Asked Questions
BCHG and BITX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCHG has higher volatility (21.07%) compared to BITX (18.52%). In terms of maximum drawdown, BCHG dropped -99.36% vs BITX's -80.09%.
BCHG currently has the higher Sharpe Ratio (-0.61 vs -0.85), 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.
Find the right allocation for BCHG and BITX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer