BTCW vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Wisdom Tree Bitcoin Fund (BTCW) and Bitcoin (BTC-USD).

BTCW is managed by WisdomTree. It was launched on Jan 11, 2024.

Performance

BTCW vs. BTC-USD - Performance Comparison

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

BTCW vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCW Wisdom Tree Bitcoin Fund	-22.24%	-6.05%	100.00%
BTC-USD Bitcoin	-21.63%	-6.27%	101.44%

Returns By Period

The year-to-date returns for both investments are quite close, with BTCW having a -22.24% return and BTC-USD slightly higher at -21.63%.

BTCW

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

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

BTCW vs. BTC-USD — 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

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wisdom Tree Bitcoin Fund (BTCW) and Bitcoin (BTC-USD). 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	BTC-USD	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	-0.38	+0.01
Omega ratio Gain probability vs. loss probability	0.96	0.96	0.00
Calmar ratio Return relative to maximum drawdown	-0.35	-1.11	+0.75
Martin ratio Return relative to average drawdown	-0.75	-1.99	+1.24
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. BTC-USD - Sharpe Ratio Comparison

The current BTCW Sharpe Ratio is -0.44, which is comparable to the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of BTCW and BTC-USD, 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	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	-0.44	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.19	-0.82

Correlation

The correlation between BTCW and BTC-USD is 0.73, 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.

Drawdowns

BTCW vs. BTC-USD - Drawdown Comparison

The maximum BTCW drawdown since its inception was -49.29%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BTCW and BTC-USD.

Drawdown Indicators

	BTCW	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-49.29%	-85.30%	+36.01%
Max Drawdown (1Y) Largest decline over 1 year	-49.29%	-49.65%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	—	-76.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-45.80%	-45.02%	-0.78%
Average Drawdown Average peak-to-trough decline	-14.16%	-41.99%	+27.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.23%	27.60%	-4.37%

Volatility

BTCW vs. BTC-USD - Volatility Comparison

The current volatility for Wisdom Tree Bitcoin Fund (BTCW) is 12.82%, while Bitcoin (BTC-USD) has a volatility of 13.58%. This indicates that BTCW experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCW	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.82%	13.58%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	36.58%	35.98%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	45.26%	36.76%	+8.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.13%	46.90%	+4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.13%	56.70%	-5.57%