BITQ vs. STCE

Last updated Aug 2, 2026

BITQ (Bitwise Crypto Industry Innovators ETF) and STCE (Schwab Crypto Thematic ETF) are both Blockchain funds - BITQ tracks the Bitwise Crypto Innovators 30 Index while STCE tracks the Schwab Crypto Thematic Index. Both are passively managed. Over the past 3 years, BITQ returned 33.54%/yr vs 34.25%/yr for STCE. Their 0.96 correlation means they have historically moved very closely together. BITQ charges 0.85%/yr vs 0.30%/yr for STCE.

Performance

BITQ vs. STCE - Performance Comparison

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

Returns By Period

In the year-to-date period, BITQ achieves a 14.35% return, which is significantly higher than STCE's 4.17% return.

BITQ

• 1D: -3.47%
• 1M: -4.20%
• 6M: 7.60%
• YTD: 14.35%
• 1Y: 20.58%
• 3Y*: 33.54%
• 5Y*: 1.06%
• 10Y*: —
• ALL TIME*: -0.45%

STCE

• 1D: -4.08%
• 1M: -5.28%
• 6M: -4.26%
• YTD: 4.17%
• 1Y: 23.64%
• 3Y*: 34.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITQ Bitwise Crypto Industry Innovators ETF	$2.41M	$2.10M	$3.18M
STCE Schwab Crypto Thematic ETF	$6.70M	$8.47M	$10.81M

BITQ vs. STCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BITQ Bitwise Crypto Industry Innovators ETF	14.35%	18.00%	46.97%	246.83%	-60.85%
STCE Schwab Crypto Thematic ETF	4.17%	36.12%	41.76%	108.65%	-40.98%

Correlation

The correlation between BITQ and STCE is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since Aug 4, 2022	0.96

The correlation between BITQ and STCE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

BITQ vs. STCE - Sectors Allocation Comparison

Sectors	BITQ	STCE
Financial Services	77.6%	66.5%
Technology	19.2%	26.0%
Consumer Cyclical	3.1%	-
Basic Materials	-	-
Communication Services	-	6.6%
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	1.0%

Return for Risk

BITQ vs. STCE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BITQ

BITQ Risk / Return Rank: 17
BITQ Sharpe Ratio Rank: 15
BITQ Sortino Ratio Rank: 20
BITQ Omega Ratio Rank: 19
BITQ Calmar Ratio Rank: 15
BITQ Martin Ratio Rank: 15

STCE

STCE Risk / Return Rank: 18
STCE Sharpe Ratio Rank: 16
STCE Sortino Ratio Rank: 22
STCE Omega Ratio Rank: 21
STCE Calmar Ratio Rank: 16
STCE Martin Ratio Rank: 14

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. STCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and Schwab Crypto Thematic ETF (STCE). 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	STCE	Difference
Sharpe ratio: Return per unit of total volatility	0.20	0.25	-0.05
Sortino ratio: Return per unit of downside risk	0.71	0.81	-0.10
Omega ratio: Gain probability vs. loss probability	1.08	1.09	-0.01
Calmar ratio: Return relative to maximum drawdown	0.26	0.29	-0.03
Martin ratio: Return relative to average drawdown	0.53	0.48	+0.05

BITQ vs. STCE - Sharpe Ratio Comparison

The current BITQ Sharpe Ratio is 0.20, which is comparable to the STCE Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of BITQ and STCE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BITQ vs. STCE - Drawdown Comparison

The maximum BITQ drawdown since its inception was -90.32%, which is greater than STCE's maximum drawdown of -54.11%. Use the drawdown chart below to compare losses from any high point for BITQ and STCE.

Drawdown Indicators

	BITQ	STCE	Difference
Max Drawdown Largest peak-to-trough decline	-90.32%	-54.11%	-36.21%
Max Drawdown (1Y) Largest decline over 1 year	-44.99%	-54.11%	+9.12%
Max Drawdown (3Y) Largest decline over 3 years	-51.22%	-54.11%	+2.89%
Max Drawdown (5Y) Largest decline over 5 years	-90.32%	—	—
Current Drawdown Current decline from peak	-29.70%	-41.31%	+11.61%
Average Drawdown Average peak-to-trough decline	-51.99%	-22.47%	-29.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.41%	32.87%	-10.46%

Volatility

BITQ vs. STCE - Volatility Comparison

The current volatility for Bitwise Crypto Industry Innovators ETF (BITQ) is 19.68%, while Schwab Crypto Thematic ETF (STCE) has a volatility of 20.83%. This indicates that BITQ experiences smaller price fluctuations and is considered to be less risky than STCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITQ	STCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.68%	20.83%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	44.50%	44.57%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	59.30%	64.20%	-4.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.22%	56.34%	+10.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.16%	56.34%	+10.82%

BITQ vs. STCE - Expense Ratio Comparison

BITQ has a 0.85% expense ratio, which is higher than STCE's 0.30% expense ratio.

Dividends

BITQ vs. STCE - Dividend Comparison

BITQ has not paid dividends to shareholders, while STCE's dividend yield for the trailing twelve months is around 1.82%.

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%
STCE Schwab Crypto Thematic ETF	1.82%	1.96%	0.64%	0.31%	1.46%	0.00%

Frequently Asked Questions

Can I hold both BITQ and STCE in my portfolio?

With a correlation of 0.97, BITQ and STCE 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.

Which is riskier, BITQ or STCE?

STCE has higher volatility (20.83%) compared to BITQ (19.68%). In terms of maximum drawdown, BITQ dropped -90.32% vs STCE's -54.11%.

Which ETF is better, BITQ or STCE?

On 3-year performance, STCE leads with 34.25% vs 33.54% for BITQ. On fees, STCE is cheaper at 0.30% per year. On volatility, BITQ has been the lower-risk option at 19.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITQ or STCE?

Over the 3-year period, STCE has performed better with a 34.25% return vs 33.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITQ or STCE?

STCE is cheaper with a 0.30% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, BITQ or STCE?

STCE has the higher dividend yield at 1.82%, compared with 0.00% for BITQ.

What is the main difference between BITQ and STCE?

BITQ tracks Bitwise Crypto Innovators 30 Index, while STCE tracks Schwab Crypto Thematic Index. They also come from different issuers: Bitwise and Charles Schwab. Their fees differ too: 0.85% for BITQ and 0.30% for STCE.

Which has better risk-adjusted returns?

STCE currently has the higher Sharpe Ratio (0.25 vs 0.20), 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.