BITQ vs. BTC-USD
BITQ (Bitwise Crypto Industry Innovators ETF) is Blockchain fund tracking the Bitwise Crypto Innovators 30 Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BITQ returned 4.41%/yr vs 12.68%/yr for BTC-USD. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
BITQ vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BITQ achieves a 34.62% return, which is significantly higher than BTC-USD's -28.07% return.
BITQ
- 1D
- -2.61%
- 1M
- 0.04%
- YTD
- 34.62%
- 6M
- 25.61%
- 1Y
- 49.39%
- 3Y*
- 53.03%
- 5Y*
- 4.41%
- 10Y*
- —
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
BITQ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 34.62% | 18.00% | 46.97% | 246.83% | -83.86% | -11.98% |
BTC-USD Bitcoin | -28.07% | -6.27% | 120.76% | 155.82% | -64.23% | -18.58% |
Correlation
The correlation between BITQ and BTC-USD is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 12, 2021 | 0.56 |
The correlation between BITQ and BTC-USD has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.
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Return for Risk
BITQ vs. BTC-USD — Risk / Return Rank
BITQ
BTC-USD
BITQ vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and Bitcoin (BTC-USD). 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.
| BITQ | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.86 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | -0.79 | +1.89 |
| Martin ratioReturn relative to average drawdown | 2.30 | -1.32 | +3.63 |
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Drawdowns
BITQ vs. BTC-USD - Drawdown Comparison
The maximum BITQ drawdown since its inception was -90.32%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BITQ and BTC-USD.
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Drawdown Indicators
| BITQ | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.32% | -85.30% | -5.02% |
Max Drawdown (1Y)Largest decline over 1 year | -44.99% | -51.21% | +6.22% |
Max Drawdown (3Y)Largest decline over 3 years | -51.22% | -51.21% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -90.32% | -76.67% | -13.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -17.24% | -49.54% | +32.30% |
Average DrawdownAverage peak-to-trough decline | -52.52% | -42.40% | -10.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.50% | 31.29% | -9.79% |
Volatility
BITQ vs. BTC-USD - Volatility Comparison
Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 16.45% compared to Bitcoin (BTC-USD) at 12.23%. This indicates that BITQ's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITQ | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.45% | 12.23% | +4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 43.05% | 34.57% | +8.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.94% | 35.70% | +21.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.32% | 44.26% | +23.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.24% | 56.41% | +10.83% |
Frequently Asked Questions
BITQ and BTC-USD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITQ has higher volatility (16.45%) compared to BTC-USD (12.23%). In terms of maximum drawdown, BITQ dropped -90.32% vs BTC-USD's -85.30%.
BITQ currently has the higher Sharpe Ratio (0.87 vs -0.94), 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.
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