BLCN vs. BITW

Last updated Jun 4, 2026

BLCN (Siren ETF Trust Siren Nasdaq NexGen Economy ETF) is Large Cap Blend Equities fund tracking the Siren NASDAQ Blockchain Economy Index, while BITW (Bitwise 10 Crypto Index Fund) is a stock. Over the past 5 years, BLCN returned -9.77%/yr vs -7.67%/yr for BITW. At a 0.47 correlation, their price movements are largely independent.

Performance

BLCN vs. BITW - 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 Bitwise 10 Crypto Index Fund (BITW). 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 BITW's -28.62% return.

BLCN

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

BITW

• 1D: -3.34%
• 1M: -18.81%
• YTD: -28.62%
• 6M: -33.87%
• 1Y: -32.03%
• 3Y*: 58.56%
• 5Y*: -7.67%
• 10Y*: —

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

BLCN vs. BITW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	13.09%	-3.69%	5.62%	21.09%	-51.76%	4.86%	15.55%
BITW Bitwise 10 Crypto Index Fund	-28.62%	-2.63%	160.69%	331.10%	-85.92%	-36.83%	403.25%

Correlation

The correlation between BLCN and BITW is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 16, 2020	0.47

Return for Risk

BLCN vs. BITW — 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

BITW

BITW Risk / Return Rank: 16
BITW Sharpe Ratio Rank: 13
BITW Sortino Ratio Rank: 15
BITW Omega Ratio Rank: 16
BITW Calmar Ratio Rank: 18
BITW Martin Ratio Rank: 18

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. 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 Fund (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.

	BLCN	BITW	Difference
Sharpe ratio: Return per unit of total volatility	0.76	-0.66	+1.41
Sortino ratio: Return per unit of downside risk	1.25	-0.75	+2.00
Omega ratio: Gain probability vs. loss probability	1.15	0.91	+0.24
Calmar ratio: Return relative to maximum drawdown	0.92	-0.62	+1.54
Martin ratio: Return relative to average drawdown	1.97	-1.06	+3.03
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. BITW - Sharpe Ratio Comparison

The current BLCN Sharpe Ratio is 0.76, which is higher than the BITW Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of BLCN and BITW, 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	BITW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	-0.66	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	-0.12	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.23	-0.15

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.

Drawdown Indicators

	BLCN	BITW	Difference
Max Drawdown Largest peak-to-trough decline	-67.51%	-96.46%	+28.95%
Max Drawdown (1Y) Largest decline over 1 year	-29.53%	-52.10%	+22.57%
Max Drawdown (3Y) Largest decline over 3 years	-45.26%	-52.10%	+6.84%
Max Drawdown (5Y) Largest decline over 5 years	-67.51%	-92.13%	+24.62%
Current Drawdown Current decline from peak	-45.11%	-69.83%	+24.72%
Average Drawdown Average peak-to-trough decline	-30.29%	-69.59%	+39.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.82%	30.25%	-16.43%

Volatility

BLCN vs. BITW - Volatility Comparison

Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) has a higher volatility of 14.45% compared to Bitwise 10 Crypto Index Fund (BITW) at 9.49%. This indicates that BLCN's price experiences larger fluctuations and is considered to be riskier than BITW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLCN	BITW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.45%	9.49%	+4.96%
Volatility (6M) Calculated over the trailing 6-month period	29.11%	37.71%	-8.60%
Volatility (1Y) Calculated over the trailing 1-year period	36.03%	49.10%	-13.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.93%	66.30%	-31.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.22%	108.75%	-77.53%

Dividends

BLCN vs. BITW - Dividend Comparison

BLCN's dividend yield for the trailing twelve months is around 2.66%, while BITW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITW Bitwise 10 Crypto Index Fund	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	2.66%	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 BITW in my portfolio?

BLCN and BITW have a correlation of 0.49, 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 BITW?

BLCN has higher volatility (14.45%) compared to BITW (9.49%). In terms of maximum drawdown, BLCN dropped -67.51% vs BITW's -96.46%.

Which has better risk-adjusted returns?

BLCN currently has the higher Sharpe Ratio (0.76 vs -0.66), 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.