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.
Key characteristics
| BTOP | BITO | |
|---|---|---|
| YTD Return | 13.65% | 35.29% |
| Daily Std Dev | 56.13% | 55.82% |
| Max Drawdown | -38.51% | -77.86% |
| Current Drawdown | -32.72% | -22.69% |
Correlation
The correlation between BTOP and BITO is 0.94, 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.
Performance
BTOP vs. BITO - Performance Comparison
In the year-to-date period, BTOP achieves a 13.65% return, which is significantly lower than BITO's 35.29% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
BTOP vs. BITO - Expense Ratio Comparison
BTOP has a 0.90% expense ratio, which is lower than BITO's 0.95% expense ratio.
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.
Not enough dataDividends
BTOP vs. BITO - Dividend Comparison
BTOP's dividend yield for the trailing twelve months is around 5.12%, less than BITO's 56.79% yield.
| TTM | 2023 | |
|---|---|---|
BTOP Bitwise Bitcoin And Ether Equal Weight Strategy ETF | 5.12% | 5.82% |
BITO ProShares Bitcoin Strategy ETF | 56.79% | 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 14.01% and 14.49%, 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.