BITB vs. SPY
Compare and contrast key facts about Bitwise Bitcoin ETF (BITB) and SPDR S&P 500 ETF (SPY).
BITB and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both BITB and SPY 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 SPY.
Correlation
The correlation between BITB and SPY is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BITB vs. SPY - Performance Comparison
Key characteristics
BITB:
2.31
SPY:
2.05
BITB:
2.86
SPY:
2.73
BITB:
1.34
SPY:
1.38
BITB:
4.76
SPY:
3.11
BITB:
10.87
SPY:
13.02
BITB:
12.01%
SPY:
2.01%
BITB:
56.54%
SPY:
12.77%
BITB:
-27.44%
SPY:
-55.19%
BITB:
-5.95%
SPY:
-2.33%
Returns By Period
In the year-to-date period, BITB achieves a 7.53% return, which is significantly higher than SPY's 0.95% return.
BITB
7.53%
-5.95%
57.76%
133.68%
N/A
N/A
SPY
0.95%
-1.76%
7.74%
26.88%
14.01%
13.35%
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BITB vs. SPY - Expense Ratio Comparison
BITB has a 0.20% expense ratio, which is higher than SPY's 0.09% 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%.
Risk-Adjusted Performance
BITB vs. SPY — Risk-Adjusted Performance Rank
BITB
SPY
BITB vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin ETF (BITB) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
BITB has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.19%.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITB Bitwise Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.19% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
BITB vs. SPY - Drawdown Comparison
The maximum BITB drawdown since its inception was -27.44%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BITB and SPY. For additional features, visit the drawdowns tool.
Volatility
BITB vs. SPY - Volatility Comparison
Bitwise Bitcoin ETF (BITB) has a higher volatility of 15.67% compared to SPDR S&P 500 ETF (SPY) at 5.01%. This indicates that BITB's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.