BLCN vs. BITO
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 2.06%/yr vs 22.88%/yr for BITO. Their 0.54 correlation means they have sometimes moved together and sometimes differently. BLCN charges 0.68%/yr vs 0.95%/yr for BITO.
Performance
BLCN vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, BLCN achieves a 1.35% return, which is significantly higher than BITO's -27.23% return.
BLCN
- 1D
- 0.00%
- 1M
- -5.31%
- 6M
- 6.61%
- YTD
- 1.35%
- 1Y
- 5.88%
- 3Y*
- 2.06%
- 5Y*
- -10.83%
- 10Y*
- —
- ALL TIME*
- 1.13%
BITO
- 1D
- 1.04%
- 1M
- 1.67%
- 6M
- -12.90%
- YTD
- -27.23%
- 1Y
- -45.00%
- 3Y*
- 22.88%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $991.40M | $2.39B | $2.05B |
BLCN vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 1.35% | -3.69% | 5.62% | 21.09% | -51.76% | -10.16% |
BITO ProShares Bitcoin Strategy ETF | -27.23% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between BLCN and BITO is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 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.
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Return for Risk
BLCN vs. BITO — Risk / Return Rank
BLCN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BITO
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.
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.
| BLCN | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.83 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | -0.83 | +0.85 |
| Martin ratioReturn relative to average drawdown | 0.05 | -1.25 | +1.31 |
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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.
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Drawdown Indicators
| BLCN | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.51% | -77.86% | +10.35% |
Max Drawdown (1Y)Largest decline over 1 year | -29.53% | -54.47% | +24.94% |
Max Drawdown (3Y)Largest decline over 3 years | -45.26% | -54.47% | +9.21% |
Max Drawdown (5Y)Largest decline over 5 years | -67.51% | — | — |
Current DrawdownCurrent decline from peak | -50.81% | -49.81% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -30.52% | -37.21% | +6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.43% | 35.90% | -21.47% |
Volatility
BLCN vs. BITO - Volatility Comparison
Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) has a higher volatility of 9.60% compared to ProShares Bitcoin Strategy ETF (BITO) at 8.06%. 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.
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Volatility by Period
| BLCN | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.60% | 8.06% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 28.35% | 32.73% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.43% | 44.11% | -6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.38% | 54.54% | -19.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.34% | 54.54% | -23.20% |
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 has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 46.28%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 46.28% | 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 | 2.85% | 3.01% | 0.67% | 0.54% | 1.28% | 0.56% | 0.58% | 1.45% | 1.16% |
Frequently Asked Questions
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.
BLCN has higher volatility (9.60%) compared to BITO (8.06%). In terms of maximum drawdown, BLCN dropped -67.51% vs BITO's -77.86%.
On 3-year performance, BITO leads with 22.88% vs 2.06% for BLCN. On fees, BLCN is cheaper at 0.68% per year. On volatility, BITO has been the lower-risk option at 8.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITO has performed better with a 22.88% return vs 2.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BLCN is cheaper with a 0.68% expense ratio, compared with 0.95% for BITO.
BITO has the higher dividend yield at 46.28%, compared with 2.85% for BLCN.
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.
BLCN currently has the higher Sharpe Ratio (0.02 vs -1.02), 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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