BITQ vs. SPBC
BITQ (Bitwise Crypto Industry Innovators ETF) and SPBC (Simplify US Equity PLUS GBTC ETF) are both exchange-traded funds - BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index, while SPBC is a Diversified Portfolio fund actively managed by Simplify. BITQ is passively managed, while SPBC is actively managed. Over the past 5 years, BITQ returned 4.41%/yr vs 15.20%/yr for SPBC. A 0.74 correlation means they provide meaningful diversification when combined. BITQ charges 0.85%/yr vs 0.50%/yr for SPBC.
Performance
BITQ vs. SPBC - 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 SPBC's 4.82% return.
BITQ
- 1D
- -2.61%
- 1M
- 0.04%
- YTD
- 34.62%
- 6M
- 25.61%
- 1Y
- 49.39%
- 3Y*
- 53.03%
- 5Y*
- 4.41%
- 10Y*
- —
SPBC
- 1D
- -1.56%
- 1M
- -2.89%
- YTD
- 4.82%
- 6M
- 3.92%
- 1Y
- 17.62%
- 3Y*
- 25.41%
- 5Y*
- 15.20%
- 10Y*
- —
BITQ vs. SPBC - 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% | 0.75% |
SPBC Simplify US Equity PLUS GBTC ETF | 4.82% | 16.83% | 37.32% | 48.04% | -28.00% | 13.87% |
Correlation
The correlation between BITQ and SPBC is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since May 25, 2021 | 0.74 |
The correlation between BITQ and SPBC has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.
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Return for Risk
BITQ vs. SPBC — Risk / Return Rank
BITQ
SPBC
BITQ vs. SPBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and Simplify US Equity PLUS GBTC ETF (SPBC). 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 | SPBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.21 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.45 | -0.34 |
| Martin ratioReturn relative to average drawdown | 2.30 | 5.13 | -2.83 |
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Drawdowns
BITQ vs. SPBC - Drawdown Comparison
The maximum BITQ drawdown since its inception was -90.32%, which is greater than SPBC's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for BITQ and SPBC.
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Drawdown Indicators
| BITQ | SPBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.32% | -33.99% | -56.33% |
Max Drawdown (1Y)Largest decline over 1 year | -44.99% | -12.24% | -32.75% |
Max Drawdown (3Y)Largest decline over 3 years | -51.22% | -21.00% | -30.22% |
Max Drawdown (5Y)Largest decline over 5 years | -90.32% | -33.99% | -56.33% |
Current DrawdownCurrent decline from peak | -17.24% | -3.93% | -13.31% |
Average DrawdownAverage peak-to-trough decline | -52.52% | -8.58% | -43.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.50% | 3.44% | +18.06% |
Volatility
BITQ vs. SPBC - Volatility Comparison
Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 16.45% compared to Simplify US Equity PLUS GBTC ETF (SPBC) at 5.19%. This indicates that BITQ's price experiences larger fluctuations and is considered to be riskier than SPBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITQ | SPBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.45% | 5.19% | +11.26% |
Volatility (6M)Calculated over the trailing 6-month period | 43.05% | 11.78% | +31.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.94% | 15.02% | +41.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.32% | 20.52% | +46.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.24% | 20.40% | +46.84% |
BITQ vs. SPBC - Expense Ratio Comparison
BITQ has a 0.85% expense ratio, which is higher than SPBC's 0.50% expense ratio.
Dividends
BITQ vs. SPBC - Dividend Comparison
BITQ has not paid dividends to shareholders, while SPBC's dividend yield for the trailing twelve months is around 0.86%.
| 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% |
SPBC Simplify US Equity PLUS GBTC ETF | 0.86% | 0.85% | 0.98% | 3.79% | 0.60% | 1.41% |
Frequently Asked Questions
BITQ and SPBC have a correlation of 0.71, 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 SPBC (5.19%). In terms of maximum drawdown, BITQ dropped -90.32% vs SPBC's -33.99%.
On 5-year performance, SPBC leads with 15.20% vs 4.41% for BITQ. On fees, SPBC is cheaper at 0.50% per year. On volatility, SPBC has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPBC has performed better with a 15.20% return vs 4.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPBC is cheaper with a 0.50% expense ratio, compared with 0.85% for BITQ.
SPBC has the higher dividend yield at 0.86%, compared with 0.00% for BITQ.
BITQ is categorized as Blockchain, while SPBC is Diversified Portfolio. They also come from different issuers: Bitwise and Simplify. Their fees differ too: 0.85% for BITQ and 0.50% for SPBC.
SPBC currently has the higher Sharpe Ratio (1.18 vs 0.87), 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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