BTCW vs. BRRR

Last updated Apr 2, 2026

Compare and contrast key facts about Wisdom Tree Bitcoin Fund (BTCW) and Valkyrie Bitcoin ETF (BRRR).

BTCW and BRRR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCW is managed by WisdomTree. It was launched on Jan 11, 2024. BRRR is a passively managed fund by Valkyrie Digital Assets that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 10, 2024.

Performance

BTCW vs. BRRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wisdom Tree Bitcoin Fund (BTCW) and Valkyrie Bitcoin ETF (BRRR). The values are adjusted to include any dividend payments, if applicable.

BTCW vs. BRRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCW Wisdom Tree Bitcoin Fund	-22.24%	-6.05%	100.00%
BRRR Valkyrie Bitcoin ETF	-22.20%	-6.50%	99.02%

Returns By Period

The year-to-date returns for both investments are quite close, with BTCW having a -22.24% return and BRRR slightly higher at -22.20%.

BTCW

• 1D: 0.50%
• 1M: -1.54%
• YTD: -22.24%
• 6M: -42.12%
• 1Y: -19.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRRR

• 1D: 0.58%
• 1M: -1.43%
• YTD: -22.20%
• 6M: -42.06%
• 1Y: -19.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCW vs. BRRR - Expense Ratio Comparison

BTCW has a 0.30% expense ratio, which is higher than BRRR's 0.25% expense ratio.

BTCW

Wisdom Tree Bitcoin Fund

BRRR

Valkyrie Bitcoin ETF

Return for Risk

BTCW vs. BRRR — Risk / Return Rank

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

BTCW

BTCW Risk / Return Rank: 6
BTCW Sharpe Ratio Rank: 5
BTCW Sortino Ratio Rank: 5
BTCW Omega Ratio Rank: 6
BTCW Calmar Ratio Rank: 6
BTCW Martin Ratio Rank: 6

BRRR

BRRR Risk / Return Rank: 6
BRRR Sharpe Ratio Rank: 5
BRRR Sortino Ratio Rank: 5
BRRR Omega Ratio Rank: 6
BRRR Calmar Ratio Rank: 6
BRRR Martin Ratio Rank: 6

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.

BTCW vs. BRRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wisdom Tree Bitcoin Fund (BTCW) and Valkyrie Bitcoin ETF (BRRR). 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.

	BTCW	BRRR	Difference
Sharpe ratio Return per unit of total volatility	-0.44	-0.44	0.00
Sortino ratio Return per unit of downside risk	-0.37	-0.37	0.00
Omega ratio Gain probability vs. loss probability	0.96	0.96	0.00
Calmar ratio Return relative to maximum drawdown	-0.35	-0.35	0.00
Martin ratio Return relative to average drawdown	-0.75	-0.75	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCW vs. BRRR - Sharpe Ratio Comparison

The current BTCW Sharpe Ratio is -0.44, which is comparable to the BRRR Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of BTCW and BRRR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BTCW	BRRR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	-0.44	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.36	+0.01

Correlation

The correlation between BTCW and BRRR is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BTCW vs. BRRR - Dividend Comparison

Neither BTCW nor BRRR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

BTCW vs. BRRR - Drawdown Comparison

The maximum BTCW drawdown since its inception was -49.29%, roughly equal to the maximum BRRR drawdown of -49.35%. Use the drawdown chart below to compare losses from any high point for BTCW and BRRR.

Drawdown Indicators

	BTCW	BRRR	Difference
Max Drawdown Largest peak-to-trough decline	-49.29%	-49.35%	+0.06%
Max Drawdown (1Y) Largest decline over 1 year	-49.29%	-49.35%	+0.06%
Current Drawdown Current decline from peak	-45.80%	-45.74%	-0.06%
Average Drawdown Average peak-to-trough decline	-14.16%	-14.17%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.23%	23.23%	0.00%

Volatility

BTCW vs. BRRR - Volatility Comparison

Wisdom Tree Bitcoin Fund (BTCW) and Valkyrie Bitcoin ETF (BRRR) have volatilities of 12.82% and 13.03%, 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.

Volatility by Period

	BTCW	BRRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.82%	13.03%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	36.58%	36.71%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	45.26%	45.15%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.13%	50.90%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.13%	50.90%	+0.23%