BLCN vs. BITO

Last updated Jun 4, 2026

BLCN (Siren ETF Trust Siren Nasdaq NexGen Economy ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - BLCN is a Large Cap Blend Equities fund tracking the Siren NASDAQ Blockchain Economy Index, while BITO is a Cryptocurrency fund actively managed by ProShares. BLCN is passively managed, while BITO is actively managed. Over the past 3 years, BLCN returned 9.50%/yr vs 25.27%/yr for BITO. A 0.54 correlation means they provide meaningful diversification when combined. BLCN charges 0.68%/yr vs 0.95%/yr for BITO.

Performance

BLCN vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLCN achieves a 13.09% return, which is significantly higher than BITO's -26.37% return.

BLCN

• 1D: 0.39%
• 1M: 10.42%
• YTD: 13.09%
• 6M: 10.14%
• 1Y: 27.10%
• 3Y*: 9.50%
• 5Y*: -9.77%
• 10Y*: —

BITO

• 1D: -2.94%
• 1M: -18.61%
• YTD: -26.37%
• 6M: -30.81%
• 1Y: -41.01%
• 3Y*: 25.27%
• 5Y*: —
• 10Y*: —

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

BLCN vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	13.09%	-3.69%	5.62%	21.09%	-51.76%	-11.18%
BITO ProShares Bitcoin Strategy ETF	-26.37%	-11.19%	104.45%	137.33%	-63.91%	-31.09%

Correlation

The correlation between BLCN and BITO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021	0.54

The correlation between BLCN and BITO has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.

BLCN vs. BITO - Sectors Allocation Comparison

Sectors	BLCN	BITO
Technology	57.1%	-
Industrials	16.0%	-
Financial Services	7.3%	68.5%
Consumer Cyclical	4.4%	-
Basic Materials	4.4%	-
Utilities	4.2%	-
Communication Services	3.5%	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

BLCN vs. BITO — Risk / Return Rank

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

BLCN

BLCN Risk / Return Rank: 21
BLCN Sharpe Ratio Rank: 21
BLCN Sortino Ratio Rank: 23
BLCN Omega Ratio Rank: 23
BLCN Calmar Ratio Rank: 21
BLCN Martin Ratio Rank: 18

BITO

BITO Risk / Return Rank: 2
BITO Sharpe Ratio Rank: 2
BITO Sortino Ratio Rank: 2
BITO Omega Ratio Rank: 2
BITO Calmar Ratio Rank: 2
BITO Martin Ratio Rank: 2

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.

BLCN vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) and ProShares Bitcoin Strategy ETF (BITO). 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.

	BLCN	BITO	Difference
Sharpe ratio Return per unit of total volatility	0.76	-0.95	+1.70
Sortino ratio Return per unit of downside risk	1.25	-1.35	+2.60
Omega ratio Gain probability vs. loss probability	1.15	0.85	+0.30
Calmar ratio Return relative to maximum drawdown	0.92	-0.82	+1.74
Martin ratio Return relative to average drawdown	1.97	-1.41	+3.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLCN vs. BITO - Sharpe Ratio Comparison

The current BLCN Sharpe Ratio is 0.76, which is higher than the BITO Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of BLCN and BITO, 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

	BLCN	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	-0.95	+1.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	-0.09	+0.17

Drawdowns

BLCN vs. BITO - Drawdown Comparison

The maximum BLCN drawdown since its inception was -67.51%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BLCN and BITO.

Drawdown Indicators

	BLCN	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-67.51%	-77.86%	+10.35%
Max Drawdown (1Y) Largest decline over 1 year	-29.53%	-50.05%	+20.52%
Max Drawdown (3Y) Largest decline over 3 years	-45.26%	-50.05%	+4.79%
Max Drawdown (5Y) Largest decline over 5 years	-67.51%	—	—
Current Drawdown Current decline from peak	-45.11%	-49.22%	+4.11%
Average Drawdown Average peak-to-trough decline	-30.29%	-36.73%	+6.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.82%	29.09%	-15.27%

Volatility

BLCN vs. BITO - Volatility Comparison

Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) has a higher volatility of 14.45% compared to ProShares Bitcoin Strategy ETF (BITO) at 9.43%. This indicates that BLCN's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLCN	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.45%	9.43%	+5.02%
Volatility (6M) Calculated over the trailing 6-month period	29.11%	34.26%	-5.15%
Volatility (1Y) Calculated over the trailing 1-year period	36.03%	43.57%	-7.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.93%	55.11%	-20.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.22%	55.11%	-23.89%

BLCN vs. BITO - Expense Ratio Comparison

BLCN has a 0.68% expense ratio, which is lower than BITO's 0.95% expense ratio.

Dividends

BLCN vs. BITO - Dividend Comparison

BLCN's dividend yield for the trailing twelve months is around 2.66%, less than BITO's 67.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITO ProShares Bitcoin Strategy ETF	67.63%	78.29%	61.59%	15.14%	0.00%	0.00%	0.00%	0.00%	0.00%
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	2.66%	3.01%	0.67%	0.54%	1.28%	0.56%	0.58%	1.45%	1.16%

Frequently Asked Questions

Can I hold both BLCN and BITO in my portfolio?

BLCN and BITO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLCN or BITO?

BLCN has higher volatility (14.45%) compared to BITO (9.43%). In terms of maximum drawdown, BLCN dropped -67.51% vs BITO's -77.86%.

Which ETF is better, BLCN or BITO?

On 3-year performance, BITO leads with 25.27% vs 9.50% for BLCN. On fees, BLCN is cheaper at 0.68% per year. On volatility, BITO has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLCN or BITO?

Over the 3-year period, BITO has performed better with a 25.27% return vs 9.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLCN or BITO?

BLCN is cheaper with a 0.68% expense ratio, compared with 0.95% for BITO.

Which ETF pays a higher dividend yield, BLCN or BITO?

BITO has the higher dividend yield at 67.63%, compared with 2.66% for BLCN.

What is the main difference between BLCN and BITO?

BLCN is categorized as Large Cap Blend Equities, while BITO is Cryptocurrency. They also come from different issuers: SRN Advisors and ProShares. Their fees differ too: 0.68% for BLCN and 0.95% for BITO.

Which has better risk-adjusted returns?

BLCN currently has the higher Sharpe Ratio (0.76 vs -0.94), 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.