BITS vs. BITC

Last updated Jul 14, 2026

BITS (Global X Blockchain & Bitcoin Strategy ETF) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds. BITS is passively managed, while BITC is actively managed. Over the past 3 years, BITS returned 28.57%/yr vs 27.90%/yr for BITC. A 0.72 correlation means they provide meaningful diversification when combined. BITS charges 0.65%/yr vs 0.88%/yr for BITC.

Performance

BITS vs. BITC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Blockchain & Bitcoin Strategy ETF (BITS) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITS achieves a -11.26% return, which is significantly lower than BITC's -2.70% return.

BITS

• 1D: -3.52%
• 1M: -10.81%
• 6M: -21.88%
• YTD: -11.26%
• 1Y: -15.13%
• 3Y*: 28.57%
• 5Y*: —
• 10Y*: —

BITC

• 1D: -2.63%
• 1M: -9.11%
• 6M: -4.20%
• YTD: -2.70%
• 1Y: -26.25%
• 3Y*: 27.90%
• 5Y*: —
• 10Y*: —

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

BITS vs. BITC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BITS Global X Blockchain & Bitcoin Strategy ETF	-11.26%	14.90%	61.84%	87.10%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	-2.70%	-20.46%	97.86%	42.71%

Correlation

The correlation between BITS and BITC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 21, 2023	0.72

Over the past year, the correlation between BITS and BITC has dropped to 0.46 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

BITS vs. BITC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITS

BITS Risk / Return Rank: 7
BITS Sharpe Ratio Rank: 7
BITS Sortino Ratio Rank: 7
BITS Omega Ratio Rank: 7
BITS Calmar Ratio Rank: 6
BITS Martin Ratio Rank: 7

BITC

BITC Risk / Return Rank: 1
BITC Sharpe Ratio Rank: 1
BITC Sortino Ratio Rank: 2
BITC Omega Ratio Rank: 1
BITC Calmar Ratio Rank: 1
BITC Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITS vs. BITC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain & Bitcoin Strategy ETF (BITS) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.

	BITS	BITC	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	-1.06	+0.78
Sortino ratio: Return per unit of downside risk	-0.06	-1.46	+1.40
Omega ratio: Gain probability vs. loss probability	0.99	0.78	+0.21
Calmar ratio: Return relative to maximum drawdown	-0.31	-0.94	+0.63
Martin ratio: Return relative to average drawdown	-0.54	-1.32	+0.79

BITS vs. BITC - Sharpe Ratio Comparison

The current BITS Sharpe Ratio is -0.29, which is higher than the BITC Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of BITS and BITC, 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

BITS vs. BITC - Drawdown Comparison

The maximum BITS drawdown since its inception was -83.11%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for BITS and BITC.

Drawdown Indicators

	BITS	BITC	Difference
Max Drawdown Largest peak-to-trough decline	-83.11%	-38.51%	-44.60%
Max Drawdown (1Y) Largest decline over 1 year	-48.38%	-27.89%	-20.49%
Max Drawdown (3Y) Largest decline over 3 years	-48.38%	-38.51%	-9.87%
Current Drawdown Current decline from peak	-41.58%	-33.13%	-8.45%
Average Drawdown Average peak-to-trough decline	-42.59%	-16.75%	-25.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.29%	19.87%	+8.42%

Volatility

BITS vs. BITC - Volatility Comparison

Global X Blockchain & Bitcoin Strategy ETF (BITS) has a higher volatility of 12.34% compared to Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) at 6.65%. This indicates that BITS's price experiences larger fluctuations and is considered to be riskier than BITC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITS	BITC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.34%	6.65%	+5.69%
Volatility (6M) Calculated over the trailing 6-month period	40.40%	19.15%	+21.25%
Volatility (1Y) Calculated over the trailing 1-year period	53.28%	24.83%	+28.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.68%	46.05%	+14.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.68%	46.05%	+14.63%

BITS vs. BITC - Expense Ratio Comparison

BITS has a 0.65% expense ratio, which is lower than BITC's 0.88% expense ratio.

Dividends

BITS vs. BITC - Dividend Comparison

BITS's dividend yield for the trailing twelve months is around 25.64%, more than BITC's 3.46% yield.

Position	TTM	2025	2024	2023	2022	2021
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.46%	3.36%	42.68%	5.82%	0.00%	0.00%
BITS Global X Blockchain & Bitcoin Strategy ETF	25.64%	22.80%	29.49%	13.69%	0.48%	1.90%

Frequently Asked Questions

Can I hold both BITS and BITC in my portfolio?

BITS and BITC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITS or BITC?

BITS has higher volatility (12.34%) compared to BITC (6.65%). In terms of maximum drawdown, BITS dropped -83.11% vs BITC's -38.51%.

Which ETF is better, BITS or BITC?

On 3-year performance, BITS leads with 28.57% vs 27.90% for BITC. On fees, BITS is cheaper at 0.65% per year. On volatility, BITC has been the lower-risk option at 6.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITS or BITC?

Over the 3-year period, BITS has performed better with a 28.57% return vs 27.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITS or BITC?

BITS is cheaper with a 0.65% expense ratio, compared with 0.88% for BITC.

Which ETF pays a higher dividend yield, BITS or BITC?

BITS has the higher dividend yield at 25.64%, compared with 3.46% for BITC.

What is the main difference between BITS and BITC?

They also come from different issuers: Global X and Bitwise. Their fees differ too: 0.65% for BITS and 0.88% for BITC.

Which has better risk-adjusted returns?

BITS currently has the higher Sharpe Ratio (-0.29 vs -1.06), 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.