BITW vs. BFJL

Last updated Jul 12, 2026

BITW (Bitwise 10 Crypto Index ETF) and BFJL (FT Vest Bitcoin Strategy Floor15 ETF - July) are both exchange-traded funds - BITW is a Cryptocurrency fund tracking the Bitwise 10 Large Cap Crypto Index, while BFJL is a Defined Outcome fund managed by First Trust. Over the past year, BITW returned -43.69% vs -15.87% for BFJL. Their correlation of 0.87 suggests significant overlap in exposure. BITW charges 0.75%/yr vs 0.90%/yr for BFJL.

Performance

BITW vs. BFJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise 10 Crypto Index ETF (BITW) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). 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 BFJL's -4.85% return.

BITW

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

BFJL

• 1D: 0.41%
• 1M: 3.02%
• 6M: -6.00%
• YTD: -4.85%
• 1Y: -15.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITW vs. BFJL - Yearly Performance Comparison

	2026 (YTD)	2025
BITW Bitwise 10 Crypto Index ETF	-30.14%	-10.67%
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	-4.85%	-7.43%

Correlation

The correlation between BITW and BFJL is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.87

The correlation between BITW and BFJL has been stable across timeframes, ranging from 0.87 to 0.87 - a consistent structural relationship.

Return for Risk

BITW vs. BFJL — 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

BFJL

BFJL Risk / Return Rank: 2
BFJL Sharpe Ratio Rank: 1
BFJL Sortino Ratio Rank: 2
BFJL Omega Ratio Rank: 1
BFJL Calmar Ratio Rank: 4
BFJL Martin Ratio Rank: 5

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. BFJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). 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	BFJL	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	-1.09	+0.26
Sortino ratio: Return per unit of downside risk	-1.13	-1.46	+0.33
Omega ratio: Gain probability vs. loss probability	0.87	0.82	+0.05
Calmar ratio: Return relative to maximum drawdown	-0.73	-0.68	-0.05
Martin ratio: Return relative to average drawdown	-1.19	-0.95	-0.24

BITW vs. BFJL - Sharpe Ratio Comparison

The current BITW Sharpe Ratio is -0.83, which is comparable to the BFJL Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of BITW and BFJL, 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. BFJL - Drawdown Comparison

The maximum BITW drawdown since its inception was -96.46%, which is greater than BFJL's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for BITW and BFJL.

Drawdown Indicators

	BITW	BFJL	Difference
Max Drawdown Largest peak-to-trough decline	-96.46%	-21.27%	-75.19%
Max Drawdown (1Y) Largest decline over 1 year	-56.45%	-21.27%	-35.18%
Max Drawdown (3Y) Largest decline over 3 years	-56.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-91.93%	—	—
Current Drawdown Current decline from peak	-70.47%	-18.79%	-51.68%
Average Drawdown Average peak-to-trough decline	-69.58%	-12.58%	-57.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.66%	15.09%	+19.57%

Volatility

BITW vs. BFJL - Volatility Comparison

Bitwise 10 Crypto Index ETF (BITW) has a higher volatility of 12.11% compared to FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL) at 1.98%. This indicates that BITW's price experiences larger fluctuations and is considered to be riskier than BFJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITW	BFJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.11%	1.98%	+10.13%
Volatility (6M) Calculated over the trailing 6-month period	37.29%	6.69%	+30.60%
Volatility (1Y) Calculated over the trailing 1-year period	49.73%	13.25%	+36.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.29%	13.22%	+52.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.95%	13.22%	+94.73%

BITW vs. BFJL - Expense Ratio Comparison

BITW has a 0.75% expense ratio, which is lower than BFJL's 0.90% expense ratio.

Dividends

BITW vs. BFJL - Dividend Comparison

BITW has not paid dividends to shareholders, while BFJL's dividend yield for the trailing twelve months is around 1.42%.

Position	TTM	2025
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July	1.42%	1.35%
BITW Bitwise 10 Crypto Index ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITW and BFJL in my portfolio?

BITW and BFJL have a correlation of 0.87, 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 BFJL?

BITW has higher volatility (12.11%) compared to BFJL (1.98%). In terms of maximum drawdown, BITW dropped -96.46% vs BFJL's -21.27%.

Which ETF is better, BITW or BFJL?

On 1-year performance, BFJL leads with -15.87% vs -43.69% for BITW. On fees, BITW is cheaper at 0.75% per year. On volatility, BFJL has been the lower-risk option at 1.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITW or BFJL?

Over the 1-year period, BFJL has performed better with a -15.87% return vs -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITW or BFJL?

BITW is cheaper with a 0.75% expense ratio, compared with 0.90% for BFJL.

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

BFJL has the higher dividend yield at 1.42%, compared with 0.00% for BITW.

What is the main difference between BITW and BFJL?

BITW is categorized as Cryptocurrency, while BFJL is Defined Outcome. They also come from different issuers: Bitwise and First Trust. Their fees differ too: 0.75% for BITW and 0.90% for BFJL.

Which has better risk-adjusted returns?

BITW currently has the higher Sharpe Ratio (-0.83 vs -1.09), 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.