BITB vs. SOEZ

Last updated Apr 2, 2026

Compare and contrast key facts about Bitwise Bitcoin ETF (BITB) and Franklin Solana ETF (SOEZ).

BITB and SOEZ 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. SOEZ is an actively managed fund by Franklin. It was launched on Dec 3, 2025.

Performance

BITB vs. SOEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin ETF (BITB) and Franklin Solana ETF (SOEZ). The values are adjusted to include any dividend payments, if applicable.

BITB vs. SOEZ - Yearly Performance Comparison

	2026 (YTD)	2025
BITB Bitwise Bitcoin ETF	-22.18%	-5.86%
SOEZ Franklin Solana ETF	-31.67%	-11.97%

Returns By Period

In the year-to-date period, BITB achieves a -22.18% return, which is significantly higher than SOEZ's -31.67% return.

BITB

• 1D: 0.54%
• 1M: -1.46%
• YTD: -22.18%
• 6M: -42.10%
• 1Y: -20.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOEZ

• 1D: 1.61%
• 1M: -3.90%
• YTD: -31.67%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITB vs. SOEZ - Expense Ratio Comparison

BITB has a 0.20% expense ratio, which is higher than SOEZ's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

BITB

Bitwise Bitcoin ETF

SOEZ

Franklin Solana ETF

Return for Risk

BITB vs. SOEZ — Risk / Return Rank

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

BITB

BITB Risk / Return Rank: 6
BITB Sharpe Ratio Rank: 5
BITB Sortino Ratio Rank: 5
BITB Omega Ratio Rank: 6
BITB Calmar Ratio Rank: 6
BITB Martin Ratio Rank: 6

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.

BITB vs. SOEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin ETF (BITB) and Franklin Solana ETF (SOEZ). 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.

	BITB	SOEZ	Difference
Sharpe ratio Return per unit of total volatility	-0.44	—	—
Sortino ratio Return per unit of downside risk	-0.37	—	—
Omega ratio Gain probability vs. loss probability	0.96	—	—
Calmar ratio Return relative to maximum drawdown	-0.36	—	—
Martin ratio Return relative to average drawdown	-0.75	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BITB	SOEZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	-1.03	+1.39

Correlation

The correlation between BITB and SOEZ is 0.94, 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.

Dividends

BITB vs. SOEZ - Dividend Comparison

BITB has not paid dividends to shareholders, while SOEZ's dividend yield for the trailing twelve months is around 0.09%.

	TTM
BITB Bitwise Bitcoin ETF	0.00%
SOEZ Franklin Solana ETF	0.09%

Drawdowns

BITB vs. SOEZ - Drawdown Comparison

The maximum BITB drawdown since its inception was -49.38%, roughly equal to the maximum SOEZ drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for BITB and SOEZ.

Drawdown Indicators

	BITB	SOEZ	Difference
Max Drawdown Largest peak-to-trough decline	-49.38%	-47.78%	-1.60%
Max Drawdown (1Y) Largest decline over 1 year	-49.38%	—	—
Current Drawdown Current decline from peak	-45.79%	-42.58%	-3.21%
Average Drawdown Average peak-to-trough decline	-14.19%	-25.30%	+11.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.25%	—	—

Volatility

Volatility by Period

	BITB	SOEZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	45.26%	77.92%	-32.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.01%	77.92%	-26.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.01%	77.92%	-26.91%