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 4.48%/yr vs 15.25%/yr for BTC-USD. A 0.55 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 18.26% return, which is significantly higher than BTC-USD's -25.95% return.
BITQ
- 1D
- 1.68%
- 1M
- -11.99%
- 6M
- -0.04%
- YTD
- 18.26%
- 1Y
- 10.66%
- 3Y*
- 31.35%
- 5Y*
- 4.48%
- 10Y*
- —
BTC-USD
- 1D
- 4.06%
- 1M
- -1.40%
- 6M
- -32.07%
- YTD
- -25.95%
- 1Y
- -45.95%
- 3Y*
- 28.83%
- 5Y*
- 15.25%
- 10Y*
- 58.05%
BITQ vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 18.26% | 18.00% | 46.97% | 246.83% | -83.86% | -11.98% |
BTC-USD Bitcoin | -25.95% | -6.27% | 120.76% | 155.82% | -64.23% | -18.58% |
Correlation
The correlation between BITQ and BTC-USD is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
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 | 0.55 |
The correlation between BITQ and BTC-USD has been stable across timeframes, ranging from 0.51 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 | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.84 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | -0.87 | +1.10 |
| Martin ratioReturn relative to average drawdown | 0.49 | -1.40 | +1.89 |
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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% | -53.08% | +8.09% |
Max Drawdown (3Y)Largest decline over 3 years | -51.22% | -53.08% | +1.86% |
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 | -27.30% | -48.05% | +20.75% |
Average DrawdownAverage peak-to-trough decline | -52.23% | -42.56% | -9.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.02% | 29.09% | -7.07% |
Volatility
BITQ vs. BTC-USD - Volatility Comparison
Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 12.18% compared to Bitcoin (BTC-USD) at 9.63%. 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 | 12.18% | 9.63% | +2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 42.48% | 34.91% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.13% | 35.72% | +21.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.31% | 43.97% | +23.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.04% | 56.33% | +10.71% |
Frequently Asked Questions
BITQ and BTC-USD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITQ has higher volatility (12.18%) compared to BTC-USD (9.63%). In terms of maximum drawdown, BITQ dropped -90.32% vs BTC-USD's -85.30%.
BITQ currently has the higher Sharpe Ratio (0.19 vs -1.07), 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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