BKCH vs. WGMI

Last updated Jun 4, 2026

BKCH (Global X Blockchain ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both exchange-traded funds - BKCH is a Technology Equities fund actively managed by Global X, while WGMI is a Cryptocurrency fund actively managed by Valkyrie. Both are actively managed. Over the past 3 years, BKCH returned 56.01%/yr vs 86.17%/yr for WGMI. With a 0.96 correlation, they move nearly in lockstep. BKCH charges 0.50%/yr vs 0.75%/yr for WGMI.

Performance

BKCH vs. WGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Blockchain ETF (BKCH) and Valkyrie Bitcoin Miners ETF (WGMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKCH achieves a 38.46% return, which is significantly lower than WGMI's 84.78% return.

BKCH

• 1D: -3.34%
• 1M: 13.82%
• YTD: 38.46%
• 6M: 15.41%
• 1Y: 99.88%
• 3Y*: 56.01%
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -1.11%
• 1M: 40.03%
• YTD: 84.78%
• 6M: 55.52%
• 1Y: 294.61%
• 3Y*: 86.17%
• 5Y*: —
• 10Y*: —

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

BKCH vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BKCH Global X Blockchain ETF	38.46%	27.14%	18.81%	267.06%	-82.20%
WGMI Valkyrie Bitcoin Miners ETF	84.78%	72.47%	23.54%	304.08%	-83.48%

Correlation

The correlation between BKCH and WGMI is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.96

The correlation between BKCH and WGMI has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

BKCH vs. WGMI — Risk / Return Rank

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

BKCH

BKCH Risk / Return Rank: 35
BKCH Sharpe Ratio Rank: 40
BKCH Sortino Ratio Rank: 39
BKCH Omega Ratio Rank: 35
BKCH Calmar Ratio Rank: 36
BKCH Martin Ratio Rank: 25

WGMI

WGMI Risk / Return Rank: 79
WGMI Sharpe Ratio Rank: 95
WGMI Sortino Ratio Rank: 76
WGMI Omega Ratio Rank: 69
WGMI Calmar Ratio Rank: 91
WGMI Martin Ratio Rank: 64

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.

BKCH vs. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain ETF (BKCH) and Valkyrie Bitcoin Miners ETF (WGMI). 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.

	BKCH	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	1.44	3.91	-2.47
Sortino ratio: Return per unit of downside risk	2.04	3.49	-1.45
Omega ratio: Gain probability vs. loss probability	1.24	1.42	-0.18
Calmar ratio: Return relative to maximum drawdown	1.78	5.83	-4.04
Martin ratio: Return relative to average drawdown	3.31	11.81	-8.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKCH vs. WGMI - Sharpe Ratio Comparison

The current BKCH Sharpe Ratio is 1.44, which is lower than the WGMI Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of BKCH and WGMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKCH	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	3.91	-2.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.31	-0.28

Drawdowns

BKCH vs. WGMI - Drawdown Comparison

The maximum BKCH drawdown since its inception was -91.80%, which is greater than WGMI's maximum drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for BKCH and WGMI.

Drawdown Indicators

	BKCH	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-91.80%	-85.76%	-6.04%
Max Drawdown (1Y) Largest decline over 1 year	-56.28%	-50.94%	-5.34%
Max Drawdown (3Y) Largest decline over 3 years	-57.99%	-62.79%	+4.80%
Current Drawdown Current decline from peak	-33.62%	-1.11%	-32.51%
Average Drawdown Average peak-to-trough decline	-62.13%	-42.90%	-19.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.25%	25.08%	+5.17%

Volatility

BKCH vs. WGMI - Volatility Comparison

The current volatility for Global X Blockchain ETF (BKCH) is 18.09%, while Valkyrie Bitcoin Miners ETF (WGMI) has a volatility of 20.10%. This indicates that BKCH experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKCH	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.09%	20.10%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	51.40%	55.64%	-4.24%
Volatility (1Y) Calculated over the trailing 1-year period	69.90%	76.03%	-6.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.43%	81.53%	-6.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.43%	81.53%	-6.10%

BKCH vs. WGMI - Expense Ratio Comparison

BKCH has a 0.50% expense ratio, which is lower than WGMI's 0.75% expense ratio.

Dividends

BKCH vs. WGMI - Dividend Comparison

BKCH's dividend yield for the trailing twelve months is around 1.44%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BKCH Global X Blockchain ETF	1.44%	2.00%	7.61%	2.33%	1.29%	4.28%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKCH and WGMI in my portfolio?

With a correlation of 0.96, BKCH and WGMI 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, BKCH or WGMI?

WGMI has higher volatility (20.10%) compared to BKCH (18.09%). In terms of maximum drawdown, BKCH dropped -91.80% vs WGMI's -85.76%.

Which ETF is better, BKCH or WGMI?

On 3-year performance, WGMI leads with 86.17% vs 56.01% for BKCH. On fees, BKCH is cheaper at 0.50% per year. On volatility, BKCH has been the lower-risk option at 18.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKCH or WGMI?

Over the 3-year period, WGMI has performed better with a 86.17% return vs 56.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKCH or WGMI?

BKCH is cheaper with a 0.50% expense ratio, compared with 0.75% for WGMI.

Which ETF pays a higher dividend yield, BKCH or WGMI?

BKCH has the higher dividend yield at 1.44%, compared with 0.00% for WGMI.

What is the main difference between BKCH and WGMI?

BKCH is categorized as Technology Equities, while WGMI is Cryptocurrency. They also come from different issuers: Global X and Valkyrie. Their fees differ too: 0.50% for BKCH and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (3.91 vs 1.44), 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.