BITQ vs. BITO
Compare and contrast key facts about Bitwise Crypto Industry Innovators ETF (BITQ) and ProShares Bitcoin Strategy ETF (BITO).
BITQ and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITQ is a passively managed fund by Exchange Traded Concepts that tracks the performance of the Bitwise Crypto Innovators 30 Total Return. It was launched on May 11, 2021. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITQ or BITO.
Key characteristics
| BITQ | BITO | |
|---|---|---|
| YTD Return | 80.33% | 100.91% |
| 1Y Return | 200.74% | 125.13% |
| 3Y Return (Ann) | -13.58% | 6.57% |
| Sharpe Ratio | 2.72 | 2.09 |
| Sortino Ratio | 3.19 | 2.69 |
| Omega Ratio | 1.36 | 1.31 |
| Calmar Ratio | 2.41 | 2.37 |
| Martin Ratio | 10.89 | 8.99 |
| Ulcer Index | 17.46% | 13.51% |
| Daily Std Dev | 69.77% | 58.19% |
| Max Drawdown | -90.32% | -77.86% |
| Current Drawdown | -36.08% | 0.00% |
Correlation
The correlation between BITQ and BITO is 0.75, 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
BITQ vs. BITO - Performance Comparison
In the year-to-date period, BITQ achieves a 80.33% return, which is significantly lower than BITO's 100.91% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BITQ vs. BITO - Expense Ratio Comparison
BITQ has a 0.85% expense ratio, which is lower than BITO's 0.95% expense ratio.
Risk-Adjusted Performance
BITQ vs. BITO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and ProShares Bitcoin Strategy ETF (BITO). 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
BITQ vs. BITO - Dividend Comparison
BITQ's dividend yield for the trailing twelve months is around 0.84%, less than BITO's 50.41% yield.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 0.84% | 1.51% | 0.00% | 3.12% |
BITO ProShares Bitcoin Strategy ETF | 50.41% | 15.14% | 0.00% | 0.00% |
Drawdowns
BITQ vs. BITO - Drawdown Comparison
The maximum BITQ drawdown since its inception was -90.32%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BITQ and BITO. For additional features, visit the drawdowns tool.
Volatility
BITQ vs. BITO - Volatility Comparison
Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 26.13% compared to ProShares Bitcoin Strategy ETF (BITO) at 17.98%. This indicates that BITQ's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.