BETZ vs. BITB

Last updated Jul 17, 2026

BETZ (Roundhill Sports Betting & iGaming ETF) and BITB (Bitwise Bitcoin ETF) are both exchange-traded funds - BETZ is a Consumer Discretionary Equities fund tracking the Roundhill Sports Betting & iGaming Index, while BITB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, BETZ returned -16.15% vs -46.27% for BITB. At a 0.30 correlation, their price movements are largely independent. BETZ charges 0.75%/yr vs 0.20%/yr for BITB.

Performance

BETZ vs. BITB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Sports Betting & iGaming ETF (BETZ) and Bitwise Bitcoin ETF (BITB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETZ achieves a -7.67% return, which is significantly higher than BITB's -26.66% return.

BETZ

• 1D: -1.32%
• 1M: -2.57%
• 6M: -4.04%
• YTD: -7.67%
• 1Y: -16.15%
• 3Y*: 3.31%
• 5Y*: -5.59%
• 10Y*: —

BITB

• 1D: -1.05%
• 1M: -2.10%
• 6M: -32.56%
• YTD: -26.66%
• 1Y: -46.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BETZ vs. BITB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BETZ Roundhill Sports Betting & iGaming ETF	-7.67%	15.75%	15.49%
BITB Bitwise Bitcoin ETF	-26.66%	-6.47%	89.74%

Correlation

The correlation between BETZ and BITB is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.30

Return for Risk

BETZ vs. BITB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BETZ

BETZ Risk / Return Rank: 4
BETZ Sharpe Ratio Rank: 3
BETZ Sortino Ratio Rank: 3
BETZ Omega Ratio Rank: 4
BETZ Calmar Ratio Rank: 5
BETZ Martin Ratio Rank: 5

BITB

BITB Risk / Return Rank: 2
BITB Sharpe Ratio Rank: 1
BITB Sortino Ratio Rank: 1
BITB Omega Ratio Rank: 2
BITB Calmar Ratio Rank: 2
BITB Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BETZ vs. BITB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Sports Betting & iGaming ETF (BETZ) and Bitwise Bitcoin ETF (BITB). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BETZ	BITB	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	-1.05	+0.27
Sortino ratio: Return per unit of downside risk	-1.01	-1.59	+0.58
Omega ratio: Gain probability vs. loss probability	0.89	0.82	+0.06
Calmar ratio: Return relative to maximum drawdown	-0.56	-0.87	+0.31
Martin ratio: Return relative to average drawdown	-0.88	-1.40	+0.52

BETZ vs. BITB - Sharpe Ratio Comparison

The current BETZ Sharpe Ratio is -0.78, which is comparable to the BITB Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of BETZ and BITB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETZ vs. BITB - Drawdown Comparison

The maximum BETZ drawdown since its inception was -60.82%, which is greater than BITB's maximum drawdown of -53.33%. Use the drawdown chart below to compare losses from any high point for BETZ and BITB.

Drawdown Indicators

	BETZ	BITB	Difference
Max Drawdown Largest peak-to-trough decline	-60.82%	-53.33%	-7.49%
Max Drawdown (1Y) Largest decline over 1 year	-29.20%	-53.33%	+24.13%
Max Drawdown (3Y) Largest decline over 3 years	-29.20%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-59.79%	—	—
Current Drawdown Current decline from peak	-37.54%	-48.91%	+11.37%
Average Drawdown Average peak-to-trough decline	-33.86%	-17.71%	-16.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.40%	33.12%	-14.72%

Volatility

BETZ vs. BITB - Volatility Comparison

The current volatility for Roundhill Sports Betting & iGaming ETF (BETZ) is 5.80%, while Bitwise Bitcoin ETF (BITB) has a volatility of 10.79%. This indicates that BETZ experiences smaller price fluctuations and is considered to be less risky than BITB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETZ	BITB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.80%	10.79%	-4.99%
Volatility (6M) Calculated over the trailing 6-month period	16.78%	34.75%	-17.97%
Volatility (1Y) Calculated over the trailing 1-year period	20.81%	44.28%	-23.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.97%	49.70%	-22.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.87%	49.70%	-21.83%

BETZ vs. BITB - Expense Ratio Comparison

BETZ has a 0.75% expense ratio, which is higher than BITB's 0.20% expense ratio.

Dividends

BETZ vs. BITB - Dividend Comparison

BETZ's dividend yield for the trailing twelve months is around 4.95%, while BITB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
BETZ Roundhill Sports Betting & iGaming ETF	4.95%	4.57%	0.86%	0.00%	0.66%	0.00%	0.28%
BITB Bitwise Bitcoin ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BETZ and BITB in my portfolio?

BETZ and BITB have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETZ or BITB?

BITB has higher volatility (10.79%) compared to BETZ (5.80%). In terms of maximum drawdown, BETZ dropped -60.82% vs BITB's -53.33%.

Which ETF is better, BETZ or BITB?

On 1-year performance, BETZ leads with -16.15% vs -46.27% for BITB. On fees, BITB is cheaper at 0.20% per year. On volatility, BETZ has been the lower-risk option at 5.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETZ or BITB?

Over the 1-year period, BETZ has performed better with a -16.15% return vs -46.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETZ or BITB?

BITB is cheaper with a 0.20% expense ratio, compared with 0.75% for BETZ.

Which ETF pays a higher dividend yield, BETZ or BITB?

BETZ has the higher dividend yield at 4.95%, compared with 0.00% for BITB.

What is the main difference between BETZ and BITB?

BETZ is categorized as Consumer Discretionary Equities, while BITB is Cryptocurrency. BETZ tracks Roundhill Sports Betting & iGaming Index, while BITB tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Roundhill Investments and Bitwise Asset Management. Their fees differ too: 0.75% for BETZ and 0.20% for BITB.

Which has better risk-adjusted returns?

BETZ currently has the higher Sharpe Ratio (-0.78 vs -1.05), 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.