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BITQ vs. IAK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BITQ vs. IAK

Last updated Aug 4, 2026
Documentation

BITQ (Bitwise Crypto Industry Innovators ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 5 years, BITQ returned 0.93%/yr vs 15.99%/yr for IAK. Their 0.18 correlation means their historical movements had little consistent relationship. BITQ charges 0.85%/yr vs 0.38%/yr for IAK.

Performance

BITQ vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Crypto Industry Innovators ETF (BITQ) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BITQ achieves a 18.16% return, which is significantly higher than IAK's 10.11% return.

BITQ

1D
3.33%
1M
-1.01%
6M
14.26%
YTD
18.16%
1Y
24.60%
3Y*
39.21%
5Y*
0.93%
10Y*
—
ALL TIME*
0.18%

IAK

1D
0.03%
1M
-0.03%
6M
12.56%
YTD
10.11%
1Y
19.67%
3Y*
19.67%
5Y*
15.99%
10Y*
13.18%
ALL TIME*
7.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BITQ

Bitwise Crypto Industry Innovators ETF
$2.37M$2.10M$2.97M

IAK

iShares U.S. Insurance ETF
$15.27M$20.59M$12.29M

BITQ vs. IAK - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BITQ
Bitwise Crypto Industry Innovators ETF		18.16%18.00%46.97%246.83%-83.86%-11.98%
IAK
iShares U.S. Insurance ETF		10.11%9.50%28.25%11.28%11.33%5.90%

Correlation

The correlation between BITQ and IAK is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.19

Correlation (3Y)
Balances recent behavior with more history.

0.06

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.19

Correlation (All Time)
Calculated using the full available price history since May 12, 2021

0.18

The correlation between BITQ and IAK shifts across timeframes, from -0.19 (1 year) to 0.19 (5 years), reflecting how their relationship changes across market environments.

BITQ vs. IAK - Sectors Allocation Comparison

Sectors
BITQ
IAK

Financial Services

77.6%
99.3%

Technology

19.2%

-

Consumer Cyclical

3.1%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

0.7%

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Financial Services

BITQ
77.6%
IAK
99.3%

Technology

BITQ
19.2%
IAK

-

Consumer Cyclical

BITQ
3.1%
IAK

-

Basic Materials

BITQ

-

IAK

-

Communication Services

BITQ

-

IAK

-

Consumer Defensive

BITQ

-

IAK

-

Energy

BITQ

-

IAK

-

Healthcare

BITQ

-

IAK
0.7%

Industrials

BITQ

-

IAK

-

Real Estate

BITQ

-

IAK

-

Utilities

BITQ

-

IAK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Bitwise Crypto Industry Innovators ETF

iShares U.S. Insurance ETF

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Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. ^SP500TRIAK vs. VYM

Return for Risk

BITQ vs. IAK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
BITQ
BITQ Risk / Return Rank: 2222
Overall Rank
BITQ Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
BITQ Sortino Ratio Rank: 2727
Sortino Ratio Rank
BITQ Omega Ratio Rank: 2525
Omega Ratio Rank
BITQ Calmar Ratio Rank: 2121
Calmar Ratio Rank
BITQ Martin Ratio Rank: 1919
Martin Ratio Rank
IAK
IAK Risk / Return Rank: 5454
Overall Rank
IAK Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 4949
Sortino Ratio Rank
IAK Omega Ratio Rank: 4747
Omega Ratio Rank
IAK Calmar Ratio Rank: 7272
Calmar Ratio Rank
IAK Martin Ratio Rank: 5252
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BITQ vs. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and iShares U.S. Insurance ETF (IAK). 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.

BITQIAKDifference
Sharpe ratioReturn per unit of total volatility
0.42
1.24

-0.82

Sortino ratioReturn per unit of downside risk
0.99
1.81

-0.82

Omega ratioGain probability vs. loss probability

1.11

1.22

-0.11

Calmar ratioReturn relative to maximum drawdown

0.55

2.59

-2.04

Martin ratioReturn relative to average drawdown

1.10

6.29

-5.20

BITQ vs. IAK - Sharpe Ratio Comparison

The current BITQ Sharpe Ratio is 0.42, which is lower than the IAK Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of BITQ and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BITQ vs. IAK - Drawdown Comparison

The maximum BITQ drawdown since its inception was -90.32%, which is greater than IAK's maximum drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for BITQ and IAK.

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Drawdown Indicators

BITQIAKDifference

Max Drawdown

Largest peak-to-trough decline

-90.32%

-77.38%

-12.94%

Max Drawdown (1Y)

Largest decline over 1 year

-44.99%

-7.62%

-37.37%

Max Drawdown (3Y)

Largest decline over 3 years

-51.22%

-11.58%

-39.64%

Max Drawdown (5Y)

Largest decline over 5 years

-90.32%

-14.76%

-75.56%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.95%

—

Current Drawdown

Current decline from peak

-27.36%

-3.20%

-24.16%

Average Drawdown

Average peak-to-trough decline

-51.97%

-16.01%

-35.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

22.43%

3.13%

+19.30%

Volatility

BITQ vs. IAK - Volatility Comparison

Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 19.86% compared to iShares U.S. Insurance ETF (IAK) at 6.56%. This indicates that BITQ's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BITQIAKDifference

Volatility (1M)

Calculated over the trailing 1-month period

19.86%

6.56%

+13.30%

Volatility (6M)

Calculated over the trailing 6-month period

44.31%

12.42%

+31.89%

Volatility (1Y)

Calculated over the trailing 1-year period

59.03%

15.99%

+43.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

67.26%

18.13%

+49.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

67.15%

20.92%

+46.23%

BITQ vs. IAK - Expense Ratio Comparison

BITQ has a 0.85% expense ratio, which is higher than IAK's 0.38% expense ratio.

Dividends

BITQ vs. IAK - Dividend Comparison

BITQ has not paid dividends to shareholders, while IAK's dividend yield for the trailing twelve months is around 2.42%.

PositionTTM20252024202320222021202020192018201720162015
BITQ
Bitwise Crypto Industry Innovators ETF		0.00%0.00%0.90%1.51%0.00%3.12%0.00%0.00%0.00%0.00%0.00%0.00%
IAK
iShares U.S. Insurance ETF		2.42%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%

Frequently Asked Questions

BITQ and IAK have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BITQ has higher volatility (19.86%) compared to IAK (6.56%). In terms of maximum drawdown, BITQ dropped -90.32% vs IAK's -77.38%.

On 5-year performance, IAK leads with 15.99% vs 0.93% for BITQ. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IAK has performed better with a 15.99% return vs 0.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAK is cheaper with a 0.38% expense ratio, compared with 0.85% for BITQ.

IAK has the higher dividend yield at 2.42%, compared with 0.00% for BITQ.

BITQ is categorized as Blockchain, while IAK is Financials Equities. BITQ tracks Bitwise Crypto Innovators 30 Index, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: Bitwise and iShares. Their fees differ too: 0.85% for BITQ and 0.38% for IAK.

IAK currently has the higher Sharpe Ratio (1.24 vs 0.42), 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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