BITQ vs. SATO
BITQ (Bitwise Crypto Industry Innovators ETF) and SATO (Invesco Alerian Galaxy Crypto Economy ETF) are both exchange-traded funds - BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index, while SATO is a Cryptocurrency fund tracking the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index. Both are passively managed. Over the past 3 years, BITQ returned 39.21%/yr vs 26.10%/yr for SATO. Their 0.97 correlation means they have historically moved very closely together. BITQ charges 0.85%/yr vs 0.60%/yr for SATO.
Performance
BITQ vs. SATO - Performance Comparison
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Returns By Period
In the year-to-date period, BITQ achieves a 18.16% return, which is significantly higher than SATO's -11.16% 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%
SATO
- 1D
- 2.56%
- 1M
- -1.98%
- 6M
- -10.46%
- YTD
- -11.16%
- 1Y
- -16.31%
- 3Y*
- 26.10%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.37M | $2.10M | $2.97M | |
| $33.69K | $33.79K | $69.80K |
BITQ vs. SATO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 18.16% | 18.00% | 46.97% | 246.83% | -83.86% | -10.39% |
SATO Invesco Alerian Galaxy Crypto Economy ETF | -11.16% | 2.26% | 55.25% | 266.77% | -80.20% | -17.33% |
Correlation
The correlation between BITQ and SATO is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021 | 0.97 |
The correlation between BITQ and SATO has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
BITQ vs. SATO — Risk / Return Rank
BITQ
SATO
BITQ vs. SATO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and Invesco Alerian Galaxy Crypto Economy ETF (SATO). 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 | SATO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.99 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | -0.31 | +0.86 |
| Martin ratioReturn relative to average drawdown | 1.10 | -0.48 | +1.58 |
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Drawdowns
BITQ vs. SATO - Drawdown Comparison
The maximum BITQ drawdown since its inception was -90.32%, roughly equal to the maximum SATO drawdown of -88.00%. Use the drawdown chart below to compare losses from any high point for BITQ and SATO.
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Drawdown Indicators
| BITQ | SATO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.32% | -88.00% | -2.32% |
Max Drawdown (1Y)Largest decline over 1 year | -44.99% | -53.49% | +8.50% |
Max Drawdown (3Y)Largest decline over 3 years | -51.22% | -53.49% | +2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -90.32% | — | — |
Current DrawdownCurrent decline from peak | -27.36% | -45.56% | +18.20% |
Average DrawdownAverage peak-to-trough decline | -51.97% | -50.68% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.43% | 33.74% | -11.31% |
Volatility
BITQ vs. SATO - Volatility Comparison
Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 19.86% compared to Invesco Alerian Galaxy Crypto Economy ETF (SATO) at 16.68%. This indicates that BITQ's price experiences larger fluctuations and is considered to be riskier than SATO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITQ | SATO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.86% | 16.68% | +3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 44.31% | 39.37% | +4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.03% | 53.18% | +5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.26% | 62.96% | +4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.15% | 62.96% | +4.19% |
BITQ vs. SATO - Expense Ratio Comparison
BITQ has a 0.85% expense ratio, which is higher than SATO's 0.60% expense ratio.
Dividends
BITQ vs. SATO - Dividend Comparison
BITQ has not paid dividends to shareholders, while SATO's dividend yield for the trailing twelve months is around 7.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 0.00% | 0.00% | 0.90% | 1.51% | 0.00% | 3.12% |
SATO Invesco Alerian Galaxy Crypto Economy ETF | 7.55% | 9.50% | 15.03% | 2.21% | 8.97% | 0.73% |
Frequently Asked Questions
With a correlation of 0.94, BITQ and SATO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BITQ has higher volatility (19.86%) compared to SATO (16.68%). In terms of maximum drawdown, BITQ dropped -90.32% vs SATO's -88.00%.
On 3-year performance, BITQ leads with 39.21% vs 26.10% for SATO. On fees, SATO is cheaper at 0.60% per year. On volatility, SATO has been the lower-risk option at 16.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITQ has performed better with a 39.21% return vs 26.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SATO is cheaper with a 0.60% expense ratio, compared with 0.85% for BITQ.
SATO has the higher dividend yield at 7.55%, compared with 0.00% for BITQ.
BITQ is categorized as Blockchain, while SATO is Cryptocurrency. BITQ tracks Bitwise Crypto Innovators 30 Index, while SATO tracks Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index. They also come from different issuers: Bitwise and Invesco. Their fees differ too: 0.85% for BITQ and 0.60% for SATO.
BITQ currently has the higher Sharpe Ratio (0.42 vs -0.31), 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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