BITC vs. VOO

Last updated Jul 17, 2026

BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - BITC is a Cryptocurrency fund actively managed by Bitwise, while VOO is a S&P 500 fund tracking the S&P 500 Index. BITC is actively managed, while VOO is passively managed. Over the past 3 years, BITC returned 29.65%/yr vs 20.11%/yr for VOO. At a 0.28 correlation, their price movements are largely independent. BITC charges 0.88%/yr vs 0.03%/yr for VOO.

Performance

BITC vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITC achieves a 0.52% return, which is significantly lower than VOO's 10.72% return.

BITC

• 1D: -1.09%
• 1M: -6.07%
• 6M: -4.95%
• YTD: 0.52%
• 1Y: -24.66%
• 3Y*: 29.65%
• 5Y*: —
• 10Y*: —

VOO

• 1D: -0.53%
• 1M: 0.35%
• 6M: 9.07%
• YTD: 10.72%
• 1Y: 21.71%
• 3Y*: 20.11%
• 5Y*: 13.31%
• 10Y*: 15.15%

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

BITC vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	0.52%	-20.46%	97.86%	42.71%
VOO Vanguard S&P 500 ETF	10.72%	17.82%	24.98%	22.22%

Correlation

The correlation between BITC and VOO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 21, 2023	0.28

Return for Risk

BITC vs. VOO — Risk / Return Rank

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

BITC

BITC Risk / Return Rank: 2
BITC Sharpe Ratio Rank: 2
BITC Sortino Ratio Rank: 2
BITC Omega Ratio Rank: 1
BITC Calmar Ratio Rank: 1
BITC Martin Ratio Rank: 3

VOO

VOO Risk / Return Rank: 66
VOO Sharpe Ratio Rank: 66
VOO Sortino Ratio Rank: 64
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 61
VOO Martin Ratio Rank: 73

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.

BITC vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and Vanguard S&P 500 ETF (VOO). 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.

	BITC	VOO	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	1.74	-2.74
Sortino ratio: Return per unit of downside risk	-1.35	2.40	-3.76
Omega ratio: Gain probability vs. loss probability	0.80	1.32	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.89	2.45	-3.34
Martin ratio: Return relative to average drawdown	-1.23	10.68	-11.91

BITC vs. VOO - Sharpe Ratio Comparison

The current BITC Sharpe Ratio is -1.00, which is lower than the VOO Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of BITC and VOO, 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

BITC vs. VOO - Drawdown Comparison

The maximum BITC drawdown since its inception was -38.51%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for BITC and VOO.

Drawdown Indicators

	BITC	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-38.51%	-33.99%	-4.52%
Max Drawdown (1Y) Largest decline over 1 year	-27.89%	-8.90%	-18.99%
Max Drawdown (3Y) Largest decline over 3 years	-38.51%	-18.69%	-19.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-30.91%	-0.88%	-30.03%
Average Drawdown Average peak-to-trough decline	-16.80%	-3.67%	-13.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.05%	2.04%	+18.01%

Volatility

BITC vs. VOO - Volatility Comparison

Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) has a higher volatility of 7.99% compared to Vanguard S&P 500 ETF (VOO) at 3.48%. This indicates that BITC's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITC	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.99%	3.48%	+4.51%
Volatility (6M) Calculated over the trailing 6-month period	19.23%	9.98%	+9.25%
Volatility (1Y) Calculated over the trailing 1-year period	24.93%	12.52%	+12.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.02%	16.92%	+29.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.02%	17.99%	+28.03%

BITC vs. VOO - Expense Ratio Comparison

BITC has a 0.88% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

BITC vs. VOO - Dividend Comparison

BITC's dividend yield for the trailing twelve months is around 3.34%, more than VOO's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.34%	3.36%	42.68%	5.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.06%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both BITC and VOO in my portfolio?

BITC and VOO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITC or VOO?

BITC has higher volatility (7.99%) compared to VOO (3.48%). In terms of maximum drawdown, BITC dropped -38.51% vs VOO's -33.99%.

Which ETF is better, BITC or VOO?

On 3-year performance, BITC leads with 29.65% vs 20.11% for VOO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITC or VOO?

Over the 3-year period, BITC has performed better with a 29.65% return vs 20.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITC or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.88% for BITC.

Which ETF pays a higher dividend yield, BITC or VOO?

BITC has the higher dividend yield at 3.34%, compared with 1.06% for VOO.

What is the main difference between BITC and VOO?

BITC is categorized as Cryptocurrency, while VOO is S&P 500. They also come from different issuers: Bitwise and Vanguard. Their fees differ too: 0.88% for BITC and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.74 vs -1.00), 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.