BITW vs. IBLC
BITW (Bitwise 10 Crypto Index ETF) and IBLC (iShares Blockchain and Tech ETF) are both Cryptocurrency funds - BITW tracks the Bitwise 10 Large Cap Crypto Index while IBLC tracks the ICE FactSet Global Blockchain Technologies Index. Both are passively managed. Over the past 3 years, BITW returned 53.76%/yr vs 46.30%/yr for IBLC. A 0.65 correlation means they provide meaningful diversification when combined. BITW charges 0.75%/yr vs 0.47%/yr for IBLC.
Performance
BITW vs. IBLC - Performance Comparison
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Returns By Period
In the year-to-date period, BITW achieves a -30.09% return, which is significantly lower than IBLC's 30.07% return.
BITW
- 1D
- 1.83%
- 1M
- -15.18%
- YTD
- -30.09%
- 6M
- -31.04%
- 1Y
- -33.61%
- 3Y*
- 53.76%
- 5Y*
- 3.43%
- 10Y*
- —
IBLC
- 1D
- -0.70%
- 1M
- 2.21%
- YTD
- 30.07%
- 6M
- 19.82%
- 1Y
- 65.77%
- 3Y*
- 46.30%
- 5Y*
- —
- 10Y*
- —
BITW vs. IBLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BITW Bitwise 10 Crypto Index ETF | -30.09% | -2.63% | 160.69% | 331.10% | -81.02% |
IBLC iShares Blockchain and Tech ETF | 30.07% | 27.05% | 18.58% | 201.47% | -58.93% |
Correlation
The correlation between BITW and IBLC is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022 | 0.65 |
The correlation between BITW and IBLC has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
BITW vs. IBLC — Risk / Return Rank
BITW
IBLC
BITW vs. IBLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and iShares Blockchain and Tech ETF (IBLC). 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 | IBLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.21 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 1.47 | -2.08 |
| Martin ratioReturn relative to average drawdown | -1.04 | 2.89 | -3.93 |
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Drawdowns
BITW vs. IBLC - Drawdown Comparison
The maximum BITW drawdown since its inception was -96.46%, which is greater than IBLC's maximum drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for BITW and IBLC.
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Drawdown Indicators
| BITW | IBLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.46% | -62.54% | -33.92% |
Max Drawdown (1Y)Largest decline over 1 year | -55.51% | -44.94% | -10.57% |
Max Drawdown (3Y)Largest decline over 3 years | -55.51% | -51.68% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -91.93% | — | — |
Current DrawdownCurrent decline from peak | -70.45% | -14.49% | -55.96% |
Average DrawdownAverage peak-to-trough decline | -69.56% | -25.77% | -43.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.38% | 22.86% | +9.52% |
Volatility
BITW vs. IBLC - Volatility Comparison
The current volatility for Bitwise 10 Crypto Index ETF (BITW) is 13.95%, while iShares Blockchain and Tech ETF (IBLC) has a volatility of 17.30%. This indicates that BITW experiences smaller price fluctuations and is considered to be less risky than IBLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITW | IBLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.95% | 17.30% | -3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 37.24% | 41.59% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.88% | 55.92% | -6.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.58% | 64.54% | +1.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 108.37% | 64.54% | +43.83% |
BITW vs. IBLC - Expense Ratio Comparison
BITW has a 0.75% expense ratio, which is higher than IBLC's 0.47% expense ratio.
Dividends
BITW vs. IBLC - Dividend Comparison
BITW has not paid dividends to shareholders, while IBLC's dividend yield for the trailing twelve months is around 4.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITW Bitwise 10 Crypto Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBLC iShares Blockchain and Tech ETF | 4.81% | 6.31% | 1.60% | 1.79% | 0.84% |
Frequently Asked Questions
BITW and IBLC have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBLC has higher volatility (17.30%) compared to BITW (13.95%). In terms of maximum drawdown, BITW dropped -96.46% vs IBLC's -62.54%.
On 3-year performance, BITW leads with 53.76% vs 46.30% for IBLC. On fees, IBLC is cheaper at 0.47% per year. On volatility, BITW has been the lower-risk option at 13.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITW has performed better with a 53.76% return vs 46.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBLC is cheaper with a 0.47% expense ratio, compared with 0.75% for BITW.
IBLC has the higher dividend yield at 4.81%, compared with 0.00% for BITW.
BITW tracks Bitwise 10 Large Cap Crypto Index, while IBLC tracks ICE FactSet Global Blockchain Technologies Index. They also come from different issuers: Bitwise and iShares. Their fees differ too: 0.75% for BITW and 0.47% for IBLC.
IBLC currently has the higher Sharpe Ratio (1.18 vs -0.68), 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.
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