BTF vs. QQQ
BTF (Valkyrie Bitcoin and Ether Strategy ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - BTF is a Cryptocurrency fund actively managed by Valkyrie, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. BTF is actively managed, while QQQ is passively managed. Over the past 3 years, BTF returned 13.08%/yr vs 28.78%/yr for QQQ. At a 0.45 correlation, their price movements are largely independent. BTF charges 1.24%/yr vs 0.18%/yr for QQQ.
Performance
BTF vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, BTF achieves a -33.48% return, which is significantly lower than QQQ's 21.30% return.
BTF
- 1D
- -4.19%
- 1M
- -21.21%
- YTD
- -33.48%
- 6M
- -37.41%
- 1Y
- -36.83%
- 3Y*
- 13.08%
- 5Y*
- —
- 10Y*
- —
QQQ
- 1D
- -0.26%
- 1M
- 10.60%
- YTD
- 21.30%
- 6M
- 19.66%
- 1Y
- 41.82%
- 3Y*
- 28.78%
- 5Y*
- 17.97%
- 10Y*
- 21.94%
BTF vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTF Valkyrie Bitcoin and Ether Strategy ETF | -33.48% | -12.44% | 67.60% | 136.86% | -63.05% | -26.38% |
QQQ Invesco QQQ ETF | 21.30% | 20.77% | 25.58% | 54.86% | -32.58% | 6.48% |
Correlation
The correlation between BTF and QQQ is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2021 | 0.45 |
The correlation between BTF and QQQ shifts across timeframes, from 0.40 (3 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTF vs. QQQ — Risk / Return Rank
BTF
QQQ
BTF vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Valkyrie Bitcoin and Ether Strategy ETF (BTF) and Invesco QQQ ETF (QQQ). 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.
| BTF | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.32 | ||
| Sortino ratioReturn per unit of downside risk | -4.25 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.45 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 3.51 | -4.17 |
| Martin ratioReturn relative to average drawdown | -1.11 | 13.49 | -14.60 |
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
| BTF | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.68 | 2.64 | -3.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.81 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.99 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 0.41 | -0.57 |
Drawdowns
BTF vs. QQQ - Drawdown Comparison
The maximum BTF drawdown since its inception was -77.50%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for BTF and QQQ.
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Drawdown Indicators
| BTF | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.50% | -82.97% | +5.47% |
Max Drawdown (1Y)Largest decline over 1 year | -56.49% | -11.96% | -44.53% |
Max Drawdown (3Y)Largest decline over 3 years | -56.49% | -22.77% | -33.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -56.49% | -0.26% | -56.23% |
Average DrawdownAverage peak-to-trough decline | -39.65% | -32.79% | -6.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.32% | 3.11% | +30.21% |
Volatility
BTF vs. QQQ - Volatility Comparison
Valkyrie Bitcoin and Ether Strategy ETF (BTF) has a higher volatility of 9.55% compared to Invesco QQQ ETF (QQQ) at 4.49%. This indicates that BTF's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTF | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.55% | 4.49% | +5.06% |
Volatility (6M)Calculated over the trailing 6-month period | 39.47% | 12.10% | +27.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.33% | 15.94% | +38.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.43% | 22.38% | +36.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.43% | 22.29% | +36.14% |
BTF vs. QQQ - Expense Ratio Comparison
BTF has a 1.24% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
BTF vs. QQQ - Dividend Comparison
BTF's dividend yield for the trailing twelve months is around 219.12%, more than QQQ's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTF Valkyrie Bitcoin and Ether Strategy ETF | 219.12% | 146.05% | 52.96% | 15.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ ETF | 0.38% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
BTF and QQQ have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTF has higher volatility (9.55%) compared to QQQ (4.49%). In terms of maximum drawdown, BTF dropped -77.50% vs QQQ's -82.97%.
On 3-year performance, QQQ leads with 28.78% vs 13.08% for BTF. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QQQ has performed better with a 28.78% return vs 13.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 1.24% for BTF.
BTF has the higher dividend yield at 219.12%, compared with 0.38% for QQQ.
BTF is categorized as Cryptocurrency, while QQQ is Nasdaq-100. They also come from different issuers: Valkyrie and Invesco. Their fees differ too: 1.24% for BTF and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (2.64 vs -0.68), 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.
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