BTOP vs. BITO
Compare and contrast key facts about Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and ProShares Bitcoin Strategy ETF (BITO).
BTOP and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTOP is an actively managed fund by Bitwise. It was launched on Sep 29, 2023. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BTOP or BITO.
Performance
BTOP vs. BITO - Performance Comparison
Returns By Period
In the year-to-date period, BTOP achieves a 63.58% return, which is significantly lower than BITO's 102.65% return.
BTOP
63.58%
34.32%
4.98%
86.49%
N/A
N/A
BITO
102.65%
35.47%
29.15%
128.81%
N/A
N/A
Key characteristics
| BTOP | BITO | |
|---|---|---|
| Sharpe Ratio | 1.50 | 2.23 |
| Sortino Ratio | 2.12 | 2.79 |
| Omega Ratio | 1.26 | 1.33 |
| Calmar Ratio | 2.25 | 2.67 |
| Martin Ratio | 4.58 | 9.53 |
| Ulcer Index | 18.87% | 13.51% |
| Daily Std Dev | 57.85% | 57.84% |
| Max Drawdown | -38.51% | -77.86% |
| Current Drawdown | -4.59% | -8.58% |
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BTOP vs. BITO - Expense Ratio Comparison
BTOP has a 0.90% expense ratio, which is lower than BITO's 0.95% expense ratio.
Correlation
The correlation between BTOP and BITO is 0.93, 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.
Risk-Adjusted Performance
BTOP vs. BITO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and ProShares Bitcoin Strategy ETF (BITO). 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.
Dividends
BTOP vs. BITO - Dividend Comparison
BTOP's dividend yield for the trailing twelve months is around 3.56%, less than BITO's 49.98% yield.
| TTM | 2023 | |
|---|---|---|
BTOP Bitwise Bitcoin And Ether Equal Weight Strategy ETF | 3.56% | 5.82% |
BITO ProShares Bitcoin Strategy ETF | 49.98% | 15.14% |
Drawdowns
BTOP vs. BITO - Drawdown Comparison
The maximum BTOP drawdown since its inception was -38.51%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BTOP and BITO. For additional features, visit the drawdowns tool.
Volatility
BTOP vs. BITO - Volatility Comparison
Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and ProShares Bitcoin Strategy ETF (BITO) have volatilities of 19.70% and 19.42%, 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.