BLCN vs. BITW
BLCN (Siren ETF Trust Siren Nasdaq NexGen Economy ETF) and BITW (Bitwise 10 Crypto Index ETF) are both exchange-traded funds - BLCN is a Large Cap Blend Equities fund tracking the Siren NASDAQ Blockchain Economy Index, while BITW is a Cryptocurrency fund tracking the Bitwise 10 Large Cap Crypto Index. Both are passively managed. Over the past 5 years, BLCN returned -10.03%/yr vs 1.78%/yr for BITW. At a 0.47 correlation, their price movements are largely independent. BLCN charges 0.68%/yr vs 0.75%/yr for BITW.
Performance
BLCN vs. BITW - Performance Comparison
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Returns By Period
In the year-to-date period, BLCN achieves a 8.85% return, which is significantly higher than BITW's -32.35% return.
BLCN
- 1D
- -3.41%
- 1M
- 6.21%
- YTD
- 8.85%
- 6M
- 5.98%
- 1Y
- 25.25%
- 3Y*
- 8.68%
- 5Y*
- -10.03%
- 10Y*
- —
BITW
- 1D
- -3.24%
- 1M
- -17.92%
- YTD
- -32.35%
- 6M
- -32.63%
- 1Y
- -35.22%
- 3Y*
- 52.08%
- 5Y*
- 1.78%
- 10Y*
- —
BLCN vs. BITW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 8.85% | -3.69% | 5.62% | 21.09% | -51.76% | 4.86% | 14.96% |
BITW Bitwise 10 Crypto Index ETF | -32.35% | -2.63% | 160.69% | 331.10% | -85.92% | -36.83% | 403.25% |
Correlation
The correlation between BLCN and BITW is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.47 |
The correlation between BLCN and BITW has been stable across timeframes, ranging from 0.47 to 0.50 - a consistent structural relationship.
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Return for Risk
BLCN vs. BITW — Risk / Return Rank
BLCN
BITW
BLCN vs. BITW - 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 Bitwise 10 Crypto Index ETF (BITW). 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 | BITW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.90 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | -0.64 | +1.50 |
| Martin ratioReturn relative to average drawdown | 1.81 | -1.08 | +2.89 |
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Drawdowns
BLCN vs. BITW - Drawdown Comparison
The maximum BLCN drawdown since its inception was -67.51%, smaller than the maximum BITW drawdown of -96.46%. Use the drawdown chart below to compare losses from any high point for BLCN and BITW.
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Drawdown Indicators
| BLCN | BITW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.51% | -96.46% | +28.95% |
Max Drawdown (1Y)Largest decline over 1 year | -29.53% | -55.51% | +25.98% |
Max Drawdown (3Y)Largest decline over 3 years | -45.26% | -55.51% | +10.25% |
Max Drawdown (5Y)Largest decline over 5 years | -67.51% | -91.93% | +24.42% |
Current DrawdownCurrent decline from peak | -47.17% | -71.40% | +24.23% |
Average DrawdownAverage peak-to-trough decline | -30.38% | -69.56% | +39.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.97% | 32.56% | -18.59% |
Volatility
BLCN vs. BITW - Volatility Comparison
Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) and Bitwise 10 Crypto Index ETF (BITW) have volatilities of 14.35% and 14.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLCN | BITW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.35% | 14.10% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 27.56% | 37.34% | -9.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.88% | 49.87% | -12.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.21% | 65.59% | -30.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.32% | 108.35% | -77.03% |
BLCN vs. BITW - Expense Ratio Comparison
BLCN has a 0.68% expense ratio, which is lower than BITW's 0.75% expense ratio.
Dividends
BLCN vs. BITW - Dividend Comparison
BLCN's dividend yield for the trailing twelve months is around 2.77%, while BITW has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITW Bitwise 10 Crypto Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 2.77% | 3.01% | 0.67% | 0.54% | 1.28% | 0.56% | 0.58% | 1.45% | 1.16% |
Frequently Asked Questions
BLCN and BITW have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BLCN has higher volatility (14.35%) compared to BITW (14.10%). In terms of maximum drawdown, BLCN dropped -67.51% vs BITW's -96.46%.
On 5-year performance, BITW leads with 1.78% vs -10.03% for BLCN. On fees, BLCN is cheaper at 0.68% per year. On volatility, BITW has been the lower-risk option at 14.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BITW has performed better with a 1.78% return vs -10.03%. 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 0.75% for BITW.
BLCN has the higher dividend yield at 2.77%, compared with 0.00% for BITW.
BLCN is categorized as Large Cap Blend Equities, while BITW is Cryptocurrency. BLCN tracks Siren NASDAQ Blockchain Economy Index, while BITW tracks Bitwise 10 Large Cap Crypto Index. They also come from different issuers: SRN Advisors and Bitwise. Their fees differ too: 0.68% for BLCN and 0.75% for BITW.
BLCN currently has the higher Sharpe Ratio (0.69 vs -0.71), 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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