BITB vs. DEFI
Compare and contrast key facts about Bitwise Bitcoin ETF (BITB) and Hashdex Bitcoin Futures ETF (DEFI).
BITB and DEFI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITB is a passively managed fund by Bitwise Asset Management that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 10, 2024. DEFI is a passively managed fund by Hashdex that tracks the performance of the HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index. It was launched on Sep 15, 2022. Both BITB and DEFI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITB or DEFI.
Correlation
The correlation between BITB and DEFI is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BITB vs. DEFI - Performance Comparison
Key characteristics
BITB:
2.31
DEFI:
2.18
BITB:
2.86
DEFI:
2.72
BITB:
1.34
DEFI:
1.32
BITB:
4.76
DEFI:
4.30
BITB:
10.87
DEFI:
9.77
BITB:
12.01%
DEFI:
12.52%
BITB:
56.54%
DEFI:
56.23%
BITB:
-27.44%
DEFI:
-28.43%
BITB:
-5.95%
DEFI:
-5.91%
Returns By Period
The year-to-date returns for both investments are quite close, with BITB having a 7.53% return and DEFI slightly higher at 7.79%.
BITB
7.53%
-5.95%
57.76%
133.68%
N/A
N/A
DEFI
7.79%
-5.91%
57.45%
124.91%
N/A
N/A
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BITB vs. DEFI - Expense Ratio Comparison
BITB has a 0.20% expense ratio, which is lower than DEFI's 0.90% expense ratio.
Risk-Adjusted Performance
BITB vs. DEFI — Risk-Adjusted Performance Rank
BITB
DEFI
BITB vs. DEFI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin ETF (BITB) and Hashdex Bitcoin Futures ETF (DEFI). 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.
Dividends
BITB vs. DEFI - Dividend Comparison
Neither BITB nor DEFI has paid dividends to shareholders.
Drawdowns
BITB vs. DEFI - Drawdown Comparison
The maximum BITB drawdown since its inception was -27.44%, roughly equal to the maximum DEFI drawdown of -28.43%. Use the drawdown chart below to compare losses from any high point for BITB and DEFI. For additional features, visit the drawdowns tool.
Volatility
BITB vs. DEFI - Volatility Comparison
Bitwise Bitcoin ETF (BITB) and Hashdex Bitcoin Futures ETF (DEFI) have volatilities of 15.67% and 15.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.