BTCO vs. SPHQ
Compare and contrast key facts about Invesco Galaxy Bitcoin ETF (BTCO) and Invesco S&P 500 Quality ETF (SPHQ).
BTCO and SPHQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCO is a passively managed fund by Invesco that tracks the performance of the Lukka Prime Reference Bitcoin Rate. It was launched on Jan 11, 2024. SPHQ is a passively managed fund by Invesco that tracks the performance of the S&P 500 Quality Index. It was launched on Dec 6, 2005. Both BTCO and SPHQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BTCO vs. SPHQ - Performance Comparison
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BTCO vs. SPHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCO Invesco Galaxy Bitcoin ETF | -22.16% | -6.58% | 100.54% |
SPHQ Invesco S&P 500 Quality ETF | 1.46% | 13.25% | 24.79% |
Returns By Period
In the year-to-date period, BTCO achieves a -22.16% return, which is significantly lower than SPHQ's 1.46% return.
BTCO
- 1D
- 0.56%
- 1M
- -1.48%
- YTD
- -22.16%
- 6M
- -42.11%
- 1Y
- -20.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPHQ
- 1D
- 0.89%
- 1M
- -5.57%
- YTD
- 1.46%
- 6M
- 3.57%
- 1Y
- 16.02%
- 3Y*
- 18.54%
- 5Y*
- 12.70%
- 10Y*
- 13.63%
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BTCO vs. SPHQ - Expense Ratio Comparison
BTCO has a 0.39% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Return for Risk
BTCO vs. SPHQ — Risk / Return Rank
BTCO
SPHQ
BTCO vs. SPHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Bitcoin ETF (BTCO) and Invesco S&P 500 Quality ETF (SPHQ). 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.
| BTCO | SPHQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.45 | 0.94 | -1.39 |
Sortino ratioReturn per unit of downside risk | -0.38 | 1.44 | -1.82 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.20 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.45 | -1.81 |
Martin ratioReturn relative to average drawdown | -0.75 | 6.35 | -7.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCO | SPHQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.45 | 0.94 | -1.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.78 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.50 | -0.13 |
Correlation
The correlation between BTCO and SPHQ is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BTCO vs. SPHQ - Dividend Comparison
BTCO has not paid dividends to shareholders, while SPHQ's dividend yield for the trailing twelve months is around 1.18%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTCO Invesco Galaxy Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHQ Invesco S&P 500 Quality ETF | 1.18% | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% |
Drawdowns
BTCO vs. SPHQ - Drawdown Comparison
The maximum BTCO drawdown since its inception was -49.33%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for BTCO and SPHQ.
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Drawdown Indicators
| BTCO | SPHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -57.83% | +8.50% |
Max Drawdown (1Y)Largest decline over 1 year | -49.33% | -10.84% | -38.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.04% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.60% | — |
Current DrawdownCurrent decline from peak | -45.78% | -5.92% | -39.86% |
Average DrawdownAverage peak-to-trough decline | -14.11% | -10.78% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.23% | 2.48% | +20.75% |
Volatility
BTCO vs. SPHQ - Volatility Comparison
Invesco Galaxy Bitcoin ETF (BTCO) has a higher volatility of 13.03% compared to Invesco S&P 500 Quality ETF (SPHQ) at 5.32%. This indicates that BTCO's price experiences larger fluctuations and is considered to be riskier than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCO | SPHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.03% | 5.32% | +7.71% |
Volatility (6M)Calculated over the trailing 6-month period | 36.73% | 9.67% | +27.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.12% | 17.13% | +27.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.78% | 16.40% | +34.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.78% | 17.81% | +32.97% |