BTOP vs. BTC-USD
Compare and contrast key facts about Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and Bitcoin (BTC-USD).
BTOP is an actively managed fund by Bitwise. It was launched on Sep 29, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BTOP or BTC-USD.
Key characteristics
| BTOP | BTC-USD | |
|---|---|---|
| YTD Return | 12.87% | 45.86% |
| Daily Std Dev | 56.02% | 43.29% |
| Max Drawdown | -38.51% | -93.07% |
| Current Drawdown | -33.18% | -15.64% |
Correlation
The correlation between BTOP and BTC-USD is 0.72, 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. BTC-USD - Performance Comparison
In the year-to-date period, BTOP achieves a 12.87% return, which is significantly lower than BTC-USD's 45.86% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
BTOP vs. BTC-USD - 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 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.
Drawdowns
BTOP vs. BTC-USD - Drawdown Comparison
The maximum BTOP drawdown since its inception was -38.51%, smaller than the maximum BTC-USD drawdown of -93.07%. Use the drawdown chart below to compare losses from any high point for BTOP and BTC-USD. For additional features, visit the drawdowns tool.
Volatility
BTOP vs. BTC-USD - Volatility Comparison
Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and Bitcoin (BTC-USD) have volatilities of 13.91% and 14.41%, 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.