BTOP vs. TTOP
BTOP (Bitwise Bitcoin And Ether Equal Weight Strategy ETF) and TTOP (21Shares FTSE Crypto 10 Index ETF) are both Cryptocurrency funds. BTOP is actively managed, while TTOP is passively managed. A 0.52 correlation means they provide meaningful diversification when combined. BTOP charges 0.90%/yr vs 0.50%/yr for TTOP.
Performance
BTOP vs. TTOP - Performance Comparison
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Returns By Period
In the year-to-date period, BTOP achieves a -0.19% return, which is significantly higher than TTOP's -27.68% return.
BTOP
- 1D
- 0.00%
- 1M
- -7.13%
- YTD
- -0.19%
- 6M
- -7.39%
- 1Y
- -10.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TTOP
- 1D
- -3.19%
- 1M
- -17.43%
- YTD
- -27.68%
- 6M
- -33.27%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTOP vs. TTOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTOP Bitwise Bitcoin And Ether Equal Weight Strategy ETF | -0.19% | -7.00% |
TTOP 21Shares FTSE Crypto 10 Index ETF | -27.68% | -11.19% |
Correlation
The correlation between BTOP and TTOP is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | 0.52 |
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Return for Risk
BTOP vs. TTOP — Risk / Return Rank
BTOP
TTOP
BTOP vs. TTOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and 21Shares FTSE Crypto 10 Index ETF (TTOP). 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.
| BTOP | TTOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.94 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | — | — |
| Martin ratioReturn relative to average drawdown | -0.63 | — | — |
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
| BTOP | TTOP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | -1.07 | +1.68 |
Drawdowns
BTOP vs. TTOP - Drawdown Comparison
The maximum BTOP drawdown since its inception was -43.37%, which is greater than TTOP's maximum drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for BTOP and TTOP.
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Drawdown Indicators
| BTOP | TTOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.37% | -37.32% | -6.05% |
Max Drawdown (1Y)Largest decline over 1 year | -31.35% | — | — |
Current DrawdownCurrent decline from peak | -29.59% | -35.77% | +6.18% |
Average DrawdownAverage peak-to-trough decline | -19.28% | -20.66% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.91% | — | — |
Volatility
BTOP vs. TTOP - Volatility Comparison
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Volatility by Period
| BTOP | TTOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.72% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 23.63% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 32.72% | 52.21% | -19.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.22% | 52.21% | -5.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.22% | 52.21% | -5.99% |
BTOP vs. TTOP - Expense Ratio Comparison
BTOP has a 0.90% expense ratio, which is higher than TTOP's 0.50% expense ratio.
Dividends
BTOP vs. TTOP - Dividend Comparison
BTOP's dividend yield for the trailing twelve months is around 2.39%, while TTOP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BTOP Bitwise Bitcoin And Ether Equal Weight Strategy ETF | 2.39% | 2.38% | 59.44% | 5.82% |
TTOP 21Shares FTSE Crypto 10 Index ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTOP and TTOP have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TTOP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TTOP is cheaper with a 0.50% expense ratio, compared with 0.90% for BTOP.
BTOP has the higher dividend yield at 2.39%, compared with 0.00% for TTOP.
They also come from different issuers: Bitwise and 21Shares. Their fees differ too: 0.90% for BTOP and 0.50% for TTOP.
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