BITW vs. EZET

Last updated Jul 12, 2026

BITW (Bitwise 10 Crypto Index ETF) and EZET (Franklin Ethereum ETF) are both Cryptocurrency funds - BITW tracks the Bitwise 10 Large Cap Crypto Index while EZET tracks the CME CF Ether-Dollar Reference Rate - New York Variant. Both are passively managed. Over the past year, BITW returned -43.69% vs -40.67% for EZET. Their correlation of 0.83 suggests significant overlap in exposure. BITW charges 0.75%/yr vs 0.19%/yr for EZET.

Performance

BITW vs. EZET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise 10 Crypto Index ETF (BITW) and Franklin Ethereum ETF (EZET). 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 higher than EZET's -39.70% return.

BITW

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

EZET

• 1D: 2.49%
• 1M: 7.69%
• 6M: -41.69%
• YTD: -39.70%
• 1Y: -40.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITW vs. EZET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BITW Bitwise 10 Crypto Index ETF	-30.14%	-2.63%	59.19%
EZET Franklin Ethereum ETF	-39.70%	-11.23%	-4.77%

Correlation

The correlation between BITW and EZET is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.83

The correlation between BITW and EZET has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

Return for Risk

BITW vs. EZET — 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

EZET

EZET Risk / Return Rank: 5
EZET Sharpe Ratio Rank: 5
EZET Sortino Ratio Rank: 5
EZET Omega Ratio Rank: 6
EZET Calmar Ratio Rank: 5
EZET 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. EZET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and Franklin Ethereum ETF (EZET). 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	EZET	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	-0.54	-0.30
Sortino ratio: Return per unit of downside risk	-1.13	-0.46	-0.66
Omega ratio: Gain probability vs. loss probability	0.87	0.95	-0.07
Calmar ratio: Return relative to maximum drawdown	-0.73	-0.54	-0.19
Martin ratio: Return relative to average drawdown	-1.19	-0.86	-0.34

BITW vs. EZET - Sharpe Ratio Comparison

The current BITW Sharpe Ratio is -0.83, which is lower than the EZET Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of BITW and EZET, 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. EZET - Drawdown Comparison

The maximum BITW drawdown since its inception was -96.46%, which is greater than EZET's maximum drawdown of -67.89%. Use the drawdown chart below to compare losses from any high point for BITW and EZET.

Drawdown Indicators

	BITW	EZET	Difference
Max Drawdown Largest peak-to-trough decline	-96.46%	-67.89%	-28.57%
Max Drawdown (1Y) Largest decline over 1 year	-56.45%	-67.89%	+11.44%
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%	-63.04%	-7.43%
Average Drawdown Average peak-to-trough decline	-69.58%	-34.41%	-35.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.66%	42.85%	-8.19%

Volatility

BITW vs. EZET - Volatility Comparison

The current volatility for Bitwise 10 Crypto Index ETF (BITW) is 12.11%, while Franklin Ethereum ETF (EZET) has a volatility of 16.08%. This indicates that BITW experiences smaller price fluctuations and is considered to be less risky than EZET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITW	EZET	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.11%	16.08%	-3.97%
Volatility (6M) Calculated over the trailing 6-month period	37.29%	46.99%	-9.70%
Volatility (1Y) Calculated over the trailing 1-year period	49.73%	68.50%	-18.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.29%	72.03%	-6.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.95%	72.03%	+35.92%

BITW vs. EZET - Expense Ratio Comparison

BITW has a 0.75% expense ratio, which is higher than EZET's 0.19% expense ratio.

Dividends

BITW vs. EZET - Dividend Comparison

Neither BITW nor EZET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BITW and EZET in my portfolio?

With a correlation of 0.92, BITW and EZET move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BITW or EZET?

EZET has higher volatility (16.08%) compared to BITW (12.11%). In terms of maximum drawdown, BITW dropped -96.46% vs EZET's -67.89%.

Which ETF is better, BITW or EZET?

On 1-year performance, EZET leads with -40.67% vs -43.69% for BITW. On fees, EZET is cheaper at 0.19% per year. On volatility, BITW has been the lower-risk option at 12.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITW or EZET?

Over the 1-year period, EZET has performed better with a -40.67% 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 EZET?

EZET is cheaper with a 0.19% expense ratio, compared with 0.75% for BITW.

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

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

What is the main difference between BITW and EZET?

BITW tracks Bitwise 10 Large Cap Crypto Index, while EZET tracks CME CF Ether-Dollar Reference Rate - New York Variant. They also come from different issuers: Bitwise and Franklin Templeton. Their fees differ too: 0.75% for BITW and 0.19% for EZET.

Which has better risk-adjusted returns?

EZET currently has the higher Sharpe Ratio (-0.54 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.