BTCW vs. EZPZ

Last updated Jun 24, 2026

BTCW (Wisdom Tree Bitcoin Fund) and EZPZ (Franklin Crypto Index ETF) are both Cryptocurrency funds. Over the past year, BTCW returned -39.83% vs -40.20% for EZPZ. With a 0.99 correlation, they move nearly in lockstep. BTCW charges 0.30%/yr vs 0.19%/yr for EZPZ.

Performance

BTCW vs. EZPZ - Performance Comparison

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

Returns By Period

In the year-to-date period, BTCW achieves a -28.98% return, which is significantly higher than EZPZ's -32.10% return.

BTCW

• 1D: -3.29%
• 1M: -17.89%
• YTD: -28.98%
• 6M: -29.03%
• 1Y: -39.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EZPZ

• 1D: -3.39%
• 1M: -18.22%
• YTD: -32.10%
• 6M: -32.65%
• 1Y: -40.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCW vs. EZPZ - Yearly Performance Comparison

	2026 (YTD)	2025
BTCW Wisdom Tree Bitcoin Fund	-28.98%	-9.09%
EZPZ Franklin Crypto Index ETF	-32.10%	-10.11%

Correlation

The correlation between BTCW and EZPZ is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.99

The correlation between BTCW and EZPZ has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

BTCW vs. EZPZ — Risk / Return Rank

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

BTCW

BTCW Risk / Return Rank: 2
BTCW Sharpe Ratio Rank: 2
BTCW Sortino Ratio Rank: 2
BTCW Omega Ratio Rank: 2
BTCW Calmar Ratio Rank: 2
BTCW Martin Ratio Rank: 2

EZPZ

EZPZ Risk / Return Rank: 3
EZPZ Sharpe Ratio Rank: 2
EZPZ Sortino Ratio Rank: 3
EZPZ Omega Ratio Rank: 3
EZPZ Calmar Ratio Rank: 3
EZPZ Martin Ratio Rank: 3

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. EZPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wisdom Tree Bitcoin Fund (BTCW) and Franklin Crypto Index ETF (EZPZ). 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.

	BTCW	EZPZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	-0.85	-0.06
Sortino ratio: Return per unit of downside risk	-1.26	-1.15	-0.12
Omega ratio: Gain probability vs. loss probability	0.86	0.87	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.77	-0.72	-0.04
Martin ratio: Return relative to average drawdown	-1.31	-1.23	-0.08

BTCW vs. EZPZ - Sharpe Ratio Comparison

The current BTCW Sharpe Ratio is -0.91, which is comparable to the EZPZ Sharpe Ratio of -0.85. The chart below compares the historical Sharpe Ratios of BTCW and EZPZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTCW vs. EZPZ - Drawdown Comparison

The maximum BTCW drawdown since its inception was -52.10%, smaller than the maximum EZPZ drawdown of -55.78%. Use the drawdown chart below to compare losses from any high point for BTCW and EZPZ.

Drawdown Indicators

	BTCW	EZPZ	Difference
Max Drawdown Largest peak-to-trough decline	-52.10%	-55.78%	+3.68%
Max Drawdown (1Y) Largest decline over 1 year	-52.10%	-55.78%	+3.68%
Current Drawdown Current decline from peak	-50.50%	-54.21%	+3.71%
Average Drawdown Average peak-to-trough decline	-16.79%	-22.87%	+6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.54%	32.74%	-2.20%

Volatility

BTCW vs. EZPZ - Volatility Comparison

The current volatility for Wisdom Tree Bitcoin Fund (BTCW) is 13.13%, while Franklin Crypto Index ETF (EZPZ) has a volatility of 14.24%. This indicates that BTCW experiences smaller price fluctuations and is considered to be less risky than EZPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCW	EZPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.13%	14.24%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	34.47%	37.14%	-2.67%
Volatility (1Y) Calculated over the trailing 1-year period	44.10%	47.70%	-3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.09%	47.87%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.09%	47.87%	+2.22%

BTCW vs. EZPZ - Expense Ratio Comparison

BTCW has a 0.30% expense ratio, which is higher than EZPZ's 0.19% expense ratio.

Dividends

BTCW vs. EZPZ - Dividend Comparison

Neither BTCW nor EZPZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BTCW and EZPZ in my portfolio?

With a correlation of 0.99, BTCW and EZPZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BTCW or EZPZ?

EZPZ has higher volatility (14.24%) compared to BTCW (13.13%). In terms of maximum drawdown, BTCW dropped -52.10% vs EZPZ's -55.78%.

Which ETF is better, BTCW or EZPZ?

On 1-year performance, BTCW leads with -39.83% vs -40.20% for EZPZ. On fees, EZPZ is cheaper at 0.19% per year. On volatility, BTCW has been the lower-risk option at 13.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCW or EZPZ?

Over the 1-year period, BTCW has performed better with a -39.83% return vs -40.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCW or EZPZ?

EZPZ is cheaper with a 0.19% expense ratio, compared with 0.30% for BTCW.

Which ETF pays a higher dividend yield, BTCW or EZPZ?

BTCW and EZPZ have nearly identical dividend yields, around 0.00%.

What is the main difference between BTCW and EZPZ?

They also come from different issuers: WisdomTree and Franklin Templeton. Their fees differ too: 0.30% for BTCW and 0.19% for EZPZ.

Which has better risk-adjusted returns?

EZPZ currently has the higher Sharpe Ratio (-0.85 vs -0.91), 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.