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BITW vs. BTC-USD
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Correlation

The correlation between BITW and BTC-USD is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


-0.50.00.51.0
Correlation: 0.3

Performance

BITW vs. BTC-USD - Performance Comparison

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

200.00%300.00%400.00%500.00%600.00%700.00%800.00%NovemberDecember2025FebruaryMarchApril
364.17%
717.23%
BITW
BTC-USD

Key characteristics

Sharpe Ratio

BITW:

1.10

BTC-USD:

2.03

Sortino Ratio

BITW:

1.79

BTC-USD:

2.63

Omega Ratio

BITW:

1.21

BTC-USD:

1.27

Calmar Ratio

BITW:

0.78

BTC-USD:

1.83

Martin Ratio

BITW:

3.69

BTC-USD:

9.11

Ulcer Index

BITW:

17.19%

BTC-USD:

11.34%

Daily Std Dev

BITW:

57.43%

BTC-USD:

42.81%

Max Drawdown

BITW:

-96.46%

BTC-USD:

-93.07%

Current Drawdown

BITW:

-59.93%

BTC-USD:

-11.50%

Returns By Period

In the year-to-date period, BITW achieves a -7.71% return, which is significantly lower than BTC-USD's 0.55% return.


BITW

YTD

-7.71%

1M

5.50%

6M

54.51%

1Y

65.82%

5Y*

N/A

10Y*

N/A

BTC-USD

YTD

0.55%

1M

8.10%

6M

40.97%

1Y

45.69%

5Y*

65.05%

10Y*

82.80%

*Annualized

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Risk-Adjusted Performance

BITW vs. BTC-USD — Risk-Adjusted Performance Rank

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

BITW
The Risk-Adjusted Performance Rank of BITW is 8282
Overall Rank
The Sharpe Ratio Rank of BITW is 8686
Sharpe Ratio Rank
The Sortino Ratio Rank of BITW is 8383
Sortino Ratio Rank
The Omega Ratio Rank of BITW is 7878
Omega Ratio Rank
The Calmar Ratio Rank of BITW is 8080
Calmar Ratio Rank
The Martin Ratio Rank of BITW is 8282
Martin Ratio Rank

BTC-USD
The Risk-Adjusted Performance Rank of BTC-USD is 9191
Overall Rank
The Sharpe Ratio Rank of BTC-USD is 9393
Sharpe Ratio Rank
The Sortino Ratio Rank of BTC-USD is 8686
Sortino Ratio Rank
The Omega Ratio Rank of BTC-USD is 8888
Omega Ratio Rank
The Calmar Ratio Rank of BTC-USD is 9494
Calmar Ratio Rank
The Martin Ratio Rank of BTC-USD is 9393
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

BITW vs. BTC-USD - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index Fund (BITW) and Bitcoin (BTC-USD). 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.


The chart of Sharpe ratio for BITW, currently valued at 1.87, compared to the broader market-2.00-1.000.001.002.003.00
BITW: 1.87
BTC-USD: 1.90
The chart of Sortino ratio for BITW, currently valued at 2.55, compared to the broader market-6.00-4.00-2.000.002.004.00
BITW: 2.55
BTC-USD: 2.52
The chart of Omega ratio for BITW, currently valued at 1.29, compared to the broader market0.501.001.502.00
BITW: 1.29
BTC-USD: 1.26
The chart of Calmar ratio for BITW, currently valued at 0.67, compared to the broader market0.001.002.003.004.005.00
BITW: 0.67
BTC-USD: 1.68
The chart of Martin ratio for BITW, currently valued at 6.06, compared to the broader market-5.000.005.0010.0015.0020.00
BITW: 6.06
BTC-USD: 8.51

The current BITW Sharpe Ratio is 1.10, which is lower than the BTC-USD Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of BITW and BTC-USD, 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 Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
1.87
1.90
BITW
BTC-USD

Drawdowns

BITW vs. BTC-USD - Drawdown Comparison

The maximum BITW drawdown since its inception was -96.46%, roughly equal to the maximum BTC-USD drawdown of -93.07%. Use the drawdown chart below to compare losses from any high point for BITW and BTC-USD. For additional features, visit the drawdowns tool.


-80.00%-60.00%-40.00%-20.00%0.00%NovemberDecember2025FebruaryMarchApril
-59.93%
-11.50%
BITW
BTC-USD

Volatility

BITW vs. BTC-USD - Volatility Comparison

Bitwise 10 Crypto Index Fund (BITW) has a higher volatility of 18.70% compared to Bitcoin (BTC-USD) at 16.24%. This indicates that BITW's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


10.00%15.00%20.00%NovemberDecember2025FebruaryMarchApril
18.70%
16.24%
BITW
BTC-USD