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BITW vs. BITO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

BITW vs. BITO - Performance Comparison

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

-20.00%0.00%20.00%40.00%60.00%JuneJulyAugustSeptemberOctoberNovember
52.54%
38.10%
BITW
BITO

Returns By Period

In the year-to-date period, BITW achieves a 152.10% return, which is significantly higher than BITO's 119.51% return.


BITW

YTD

152.10%

1M

63.02%

6M

61.13%

1Y

158.80%

5Y (annualized)

N/A

10Y (annualized)

N/A

BITO

YTD

119.51%

1M

44.98%

6M

42.52%

1Y

140.15%

5Y (annualized)

N/A

10Y (annualized)

N/A

Key characteristics


BITWBITO
Sharpe Ratio2.502.53
Sortino Ratio2.783.01
Omega Ratio1.361.36
Calmar Ratio1.822.95
Martin Ratio11.9310.78
Ulcer Index13.49%13.50%
Daily Std Dev64.23%57.58%
Max Drawdown-96.46%-77.86%
Current Drawdown-58.02%0.00%

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Correlation

-0.50.00.51.00.8

The correlation between BITW and BITO is 0.76, 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.

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.


Sharpe ratio
The chart of Sharpe ratio for BITW, currently valued at 2.50, compared to the broader market-4.00-2.000.002.004.002.502.53
The chart of Sortino ratio for BITW, currently valued at 2.78, compared to the broader market-4.00-2.000.002.004.002.783.01
The chart of Omega ratio for BITW, currently valued at 1.36, compared to the broader market0.501.001.502.001.361.36
The chart of Calmar ratio for BITW, currently valued at 2.27, compared to the broader market0.002.004.006.002.272.95
The chart of Martin ratio for BITW, currently valued at 11.93, compared to the broader market0.0010.0020.0030.0011.9310.78
BITW
BITO

The current BITW Sharpe Ratio is 2.50, which is comparable to the BITO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of BITW and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio1.001.502.002.503.003.504.004.50JuneJulyAugustSeptemberOctoberNovember
2.50
2.53
BITW
BITO

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 46.14%.


TTM2023
BITW
Bitwise 10 Crypto Index Fund
0.00%0.00%
BITO
ProShares Bitcoin Strategy ETF
46.14%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.


-50.00%-40.00%-30.00%-20.00%-10.00%0.00%JuneJulyAugustSeptemberOctoberNovember00
BITW
BITO

Volatility

BITW vs. BITO - Volatility Comparison

Bitwise 10 Crypto Index Fund (BITW) has a higher volatility of 20.75% 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.


10.00%15.00%20.00%25.00%JuneJulyAugustSeptemberOctoberNovember
20.75%
18.04%
BITW
BITO