BITW vs. ARKK

Last updated Jul 12, 2026

BITW (Bitwise 10 Crypto Index ETF) and ARKK (ARK Innovation ETF) are both exchange-traded funds - BITW is a Cryptocurrency fund tracking the Bitwise 10 Large Cap Crypto Index, while ARKK is a Technology Equities fund actively managed by ARK. BITW is passively managed, while ARKK is actively managed. Over the past 5 years, BITW returned 0.52%/yr vs -8.32%/yr for ARKK. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

BITW vs. ARKK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise 10 Crypto Index ETF (BITW) and ARK Innovation ETF (ARKK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITW achieves a -30.14% return, which is significantly lower than ARKK's 4.32% return.

BITW

• 1D: 1.36%
• 1M: 1.81%
• 6M: -32.94%
• YTD: -30.14%
• 1Y: -43.69%
• 3Y*: 51.89%
• 5Y*: 0.52%
• 10Y*: —

ARKK

• 1D: -1.58%
• 1M: 6.07%
• 6M: -0.06%
• YTD: 4.32%
• 1Y: 11.00%
• 3Y*: 19.81%
• 5Y*: -8.32%
• 10Y*: 15.54%

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

BITW vs. ARKK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BITW Bitwise 10 Crypto Index ETF	-30.14%	-2.63%	160.69%	331.10%	-85.92%	-36.83%	403.25%
ARKK ARK Innovation ETF	4.32%	35.49%	8.40%	69.04%	-66.97%	-23.60%	21.89%

Correlation

The correlation between BITW and ARKK is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020	0.43

Over the past year, BITW and ARKK have become more correlated (0.63) than their long-term average of 0.43, meaning their price movements have been converging.

Return for Risk

BITW vs. ARKK — Risk / Return Rank

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

BITW

BITW Risk / Return Rank: 3
BITW Sharpe Ratio Rank: 3
BITW Sortino Ratio Rank: 3
BITW Omega Ratio Rank: 3
BITW Calmar Ratio Rank: 3
BITW Martin Ratio Rank: 3

ARKK

ARKK Risk / Return Rank: 14
ARKK Sharpe Ratio Rank: 14
ARKK Sortino Ratio Rank: 15
ARKK Omega Ratio Rank: 14
ARKK Calmar Ratio Rank: 13
ARKK Martin Ratio Rank: 13

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.

BITW vs. ARKK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and ARK Innovation ETF (ARKK). 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	ARKK	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	0.25	-1.08
Sortino ratio: Return per unit of downside risk	-1.13	0.61	-1.73
Omega ratio: Gain probability vs. loss probability	0.87	1.07	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.73	0.29	-1.02
Martin ratio: Return relative to average drawdown	-1.19	0.61	-1.80

BITW vs. ARKK - Sharpe Ratio Comparison

The current BITW Sharpe Ratio is -0.83, which is lower than the ARKK Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of BITW and ARKK, 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

BITW vs. ARKK - Drawdown Comparison

The maximum BITW drawdown since its inception was -96.46%, which is greater than ARKK's maximum drawdown of -80.97%. Use the drawdown chart below to compare losses from any high point for BITW and ARKK.

Drawdown Indicators

	BITW	ARKK	Difference
Max Drawdown Largest peak-to-trough decline	-96.46%	-80.97%	-15.49%
Max Drawdown (1Y) Largest decline over 1 year	-56.45%	-31.35%	-25.10%
Max Drawdown (3Y) Largest decline over 3 years	-56.45%	-39.56%	-16.89%
Max Drawdown (5Y) Largest decline over 5 years	-91.93%	-76.27%	-15.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-80.97%	—
Current Drawdown Current decline from peak	-70.47%	-48.04%	-22.43%
Average Drawdown Average peak-to-trough decline	-69.58%	-30.27%	-39.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.66%	14.86%	+19.80%

Volatility

BITW vs. ARKK - Volatility Comparison

Bitwise 10 Crypto Index ETF (BITW) has a higher volatility of 12.11% compared to ARK Innovation ETF (ARKK) at 10.15%. This indicates that BITW's price experiences larger fluctuations and is considered to be riskier than ARKK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITW	ARKK	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.11%	10.15%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	37.29%	26.86%	+10.43%
Volatility (1Y) Calculated over the trailing 1-year period	49.73%	36.33%	+13.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.29%	46.47%	+18.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.95%	40.39%	+67.56%

BITW vs. ARKK - Expense Ratio Comparison

Both BITW and ARKK have an expense ratio of 0.75%.

Dividends

BITW vs. ARKK - Dividend Comparison

Neither BITW nor ARKK has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKK ARK Innovation ETF	0.00%	0.00%	0.00%	0.70%	0.00%	0.55%	1.64%	0.38%	3.14%	1.32%	0.00%	2.27%
BITW Bitwise 10 Crypto Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITW and ARKK in my portfolio?

BITW and ARKK have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITW or ARKK?

BITW has higher volatility (12.11%) compared to ARKK (10.15%). In terms of maximum drawdown, BITW dropped -96.46% vs ARKK's -80.97%.

Which ETF is better, BITW or ARKK?

On 5-year performance, BITW leads with 0.52% vs -8.32% for ARKK. Both ETFs have the same 0.75% expense ratio. On volatility, ARKK has been the lower-risk option at 10.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITW or ARKK?

Over the 5-year period, BITW has performed better with a 0.52% return vs -8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITW or ARKK?

BITW and ARKK have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, BITW or ARKK?

BITW and ARKK have nearly identical dividend yields, around 0.00%.

What is the main difference between BITW and ARKK?

BITW is categorized as Cryptocurrency, while ARKK is Technology Equities. They also come from different issuers: Bitwise and ARK.

Which has better risk-adjusted returns?

ARKK currently has the higher Sharpe Ratio (0.25 vs -0.83), 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.