BITW vs. BITO
Compare and contrast key facts about Bitwise 10 Crypto Index Fund (BITW) and ProShares Bitcoin Strategy ETF (BITO).
BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITW or BITO.
Key characteristics
| BITW | BITO | |
|---|---|---|
| YTD Return | 105.18% | 100.91% |
| 1Y Return | 144.85% | 135.28% |
| 3Y Return (Ann) | -1.70% | 6.56% |
| Sharpe Ratio | 1.94 | 2.15 |
| Sortino Ratio | 2.38 | 2.74 |
| Omega Ratio | 1.31 | 1.32 |
| Calmar Ratio | 1.42 | 2.44 |
| Martin Ratio | 9.30 | 9.27 |
| Ulcer Index | 13.49% | 13.50% |
| Daily Std Dev | 64.57% | 58.15% |
| Max Drawdown | -96.46% | -77.86% |
| Current Drawdown | -65.83% | 0.00% |
Correlation
The correlation between BITW and BITO is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BITW vs. BITO - Performance Comparison
The year-to-date returns for both stocks are quite close, with BITW having a 105.18% return and BITO slightly lower at 100.91%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
BITW vs. BITO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index Fund (BITW) and ProShares Bitcoin Strategy ETF (BITO). 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.
Dividends
BITW vs. BITO - Dividend Comparison
BITW has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 50.41%.
| TTM | 2023 | |
|---|---|---|
BITW Bitwise 10 Crypto Index Fund | 0.00% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 50.41% | 15.14% |
Drawdowns
BITW vs. BITO - Drawdown Comparison
The maximum BITW drawdown since its inception was -96.46%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BITW and BITO. For additional features, visit the drawdowns tool.
Volatility
BITW vs. BITO - Volatility Comparison
Bitwise 10 Crypto Index Fund (BITW) has a higher volatility of 19.29% compared to ProShares Bitcoin Strategy ETF (BITO) at 18.04%. This indicates that BITW's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.