BITW vs. ARBK
BITW (Bitwise 10 Crypto Index ETF) is Cryptocurrency fund tracking the Bitwise 10 Large Cap Crypto Index, while ARBK (Argo Blockchain plc) is a stock. Over the past 3 years, BITW returned 53.76%/yr vs 29.94%/yr for ARBK. At a 0.45 correlation, their price movements are largely independent.
Performance
BITW vs. ARBK - Performance Comparison
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Returns By Period
In the year-to-date period, BITW achieves a -30.09% return, which is significantly lower than ARBK's 3.58% return.
BITW
- 1D
- 1.83%
- 1M
- -15.18%
- YTD
- -30.09%
- 6M
- -31.04%
- 1Y
- -33.61%
- 3Y*
- 53.76%
- 5Y*
- 3.43%
- 10Y*
- —
ARBK
- 1D
- -1.34%
- 1M
- -8.02%
- YTD
- 3.58%
- 6M
- -23.22%
- 1Y
- 859.78%
- 3Y*
- 29.94%
- 5Y*
- —
- 10Y*
- —
BITW vs. ARBK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITW Bitwise 10 Crypto Index ETF | -30.09% | -2.63% | 160.69% | 331.10% | -85.92% | -15.47% |
ARBK Argo Blockchain plc | 3.58% | 503.54% | -84.89% | 246.30% | -91.12% | -18.99% |
Correlation
The correlation between BITW and ARBK is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021 | 0.45 |
Fundamentals
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Return for Risk
BITW vs. ARBK — Risk / Return Rank
BITW
ARBK
BITW vs. ARBK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and Argo Blockchain plc (ARBK). 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.
| BITW | ARBK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -50.02 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 6.89 | -5.98 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 10.52 | -11.12 |
| Martin ratioReturn relative to average drawdown | -1.04 | 18.06 | -19.10 |
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Drawdowns
BITW vs. ARBK - Drawdown Comparison
The maximum BITW drawdown since its inception was -96.46%, roughly equal to the maximum ARBK drawdown of -99.31%. Use the drawdown chart below to compare losses from any high point for BITW and ARBK.
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Drawdown Indicators
| BITW | ARBK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.46% | -99.31% | +2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -55.51% | -82.59% | +27.08% |
Max Drawdown (3Y)Largest decline over 3 years | -55.51% | -96.52% | +41.01% |
Max Drawdown (5Y)Largest decline over 5 years | -91.93% | — | — |
Current DrawdownCurrent decline from peak | -70.45% | -82.82% | +12.37% |
Average DrawdownAverage peak-to-trough decline | -69.56% | -84.02% | +14.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.38% | 48.00% | -15.62% |
Volatility
BITW vs. ARBK - Volatility Comparison
The current volatility for Bitwise 10 Crypto Index ETF (BITW) is 13.95%, while Argo Blockchain plc (ARBK) has a volatility of 19.86%. This indicates that BITW experiences smaller price fluctuations and is considered to be less risky than ARBK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITW | ARBK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.95% | 19.86% | -5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 37.24% | 64.81% | -27.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.88% | 4,751.33% | -4,701.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.58% | 2,185.09% | -2,119.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 108.37% | 2,185.09% | -2,076.72% |
Dividends
BITW vs. ARBK - Dividend Comparison
Neither BITW nor ARBK has paid dividends to shareholders.
Frequently Asked Questions
BITW and ARBK have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARBK has higher volatility (19.86%) compared to BITW (13.95%). In terms of maximum drawdown, BITW dropped -96.46% vs ARBK's -99.31%.
ARBK currently has the higher Sharpe Ratio (0.18 vs -0.68), 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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