BITW vs. FTEC

Last updated Jun 25, 2026

BITW (Bitwise 10 Crypto Index ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - BITW is a Cryptocurrency fund tracking the Bitwise 10 Large Cap Crypto Index, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 5 years, BITW returned 1.71%/yr vs 19.62%/yr for FTEC. At a 0.37 correlation, their price movements are largely independent. BITW charges 0.75%/yr vs 0.08%/yr for FTEC.

Performance

BITW vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise 10 Crypto Index ETF (BITW) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITW achieves a -35.16% return, which is significantly lower than FTEC's 22.66% return.

BITW

• 1D: -4.15%
• 1M: -21.33%
• YTD: -35.16%
• 6M: -35.19%
• 1Y: -40.47%
• 3Y*: 49.95%
• 5Y*: 1.71%
• 10Y*: —

FTEC

• 1D: -0.73%
• 1M: -0.38%
• YTD: 22.66%
• 6M: 20.59%
• 1Y: 43.89%
• 3Y*: 30.26%
• 5Y*: 19.62%
• 10Y*: 25.18%

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

BITW vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BITW Bitwise 10 Crypto Index ETF	-35.16%	-2.63%	160.69%	331.10%	-85.92%	-36.83%	403.25%
FTEC Fidelity MSCI Information Technology Index ETF	22.66%	22.11%	29.40%	53.30%	-29.59%	30.49%	8.11%

Correlation

The correlation between BITW and FTEC is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020	0.37

The correlation between BITW and FTEC shifts across timeframes, from 0.37 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BITW vs. FTEC — 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

FTEC

FTEC Risk / Return Rank: 59
FTEC Sharpe Ratio Rank: 66
FTEC Sortino Ratio Rank: 58
FTEC Omega Ratio Rank: 59
FTEC Calmar Ratio Rank: 61
FTEC Martin Ratio Rank: 52

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. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and Fidelity MSCI Information Technology Index ETF (FTEC). 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	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	1.94	-2.75
Sortino ratio: Return per unit of downside risk	-1.09	2.47	-3.56
Omega ratio: Gain probability vs. loss probability	0.88	1.33	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.73	2.71	-3.44
Martin ratio: Return relative to average drawdown	-1.24	8.29	-9.52

BITW vs. FTEC - Sharpe Ratio Comparison

The current BITW Sharpe Ratio is -0.81, which is lower than the FTEC Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of BITW and FTEC, 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. FTEC - Drawdown Comparison

The maximum BITW drawdown since its inception was -96.46%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for BITW and FTEC.

Drawdown Indicators

	BITW	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-96.46%	-34.95%	-61.51%
Max Drawdown (1Y) Largest decline over 1 year	-55.84%	-16.26%	-39.58%
Max Drawdown (3Y) Largest decline over 3 years	-55.84%	-27.30%	-28.54%
Max Drawdown (5Y) Largest decline over 5 years	-91.93%	-34.95%	-56.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.95%	—
Current Drawdown Current decline from peak	-72.59%	-8.39%	-64.20%
Average Drawdown Average peak-to-trough decline	-69.56%	-5.57%	-63.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.75%	5.31%	+27.44%

Volatility

BITW vs. FTEC - Volatility Comparison

Bitwise 10 Crypto Index ETF (BITW) has a higher volatility of 14.37% compared to Fidelity MSCI Information Technology Index ETF (FTEC) at 11.39%. This indicates that BITW's price experiences larger fluctuations and is considered to be riskier than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITW	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.37%	11.39%	+2.98%
Volatility (6M) Calculated over the trailing 6-month period	37.20%	18.57%	+18.63%
Volatility (1Y) Calculated over the trailing 1-year period	50.03%	22.79%	+27.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.58%	25.60%	+39.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	108.32%	24.86%	+83.46%

BITW vs. FTEC - Expense Ratio Comparison

BITW has a 0.75% expense ratio, which is higher than FTEC's 0.08% expense ratio.

Dividends

BITW vs. FTEC - Dividend Comparison

BITW has not paid dividends to shareholders, while FTEC's dividend yield for the trailing twelve months is around 0.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BITW Bitwise 10 Crypto Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTEC Fidelity MSCI Information Technology Index ETF	0.36%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%

Frequently Asked Questions

Can I hold both BITW and FTEC in my portfolio?

BITW and FTEC have a correlation of 0.52, 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 FTEC?

BITW has higher volatility (14.37%) compared to FTEC (11.39%). In terms of maximum drawdown, BITW dropped -96.46% vs FTEC's -34.95%.

Which ETF is better, BITW or FTEC?

On 5-year performance, FTEC leads with 19.62% vs 1.71% for BITW. On fees, FTEC is cheaper at 0.08% per year. On volatility, FTEC has been the lower-risk option at 11.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BITW or FTEC?

Over the 5-year period, FTEC has performed better with a 19.62% return vs 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BITW or FTEC?

FTEC is cheaper with a 0.08% expense ratio, compared with 0.75% for BITW.

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

FTEC has the higher dividend yield at 0.36%, compared with 0.00% for BITW.

What is the main difference between BITW and FTEC?

BITW is categorized as Cryptocurrency, while FTEC is Technology Equities. BITW tracks Bitwise 10 Large Cap Crypto Index, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: Bitwise and Fidelity. Their fees differ too: 0.75% for BITW and 0.08% for FTEC.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (1.94 vs -0.81), 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.