BWOW vs. BFOC

Last updated Jun 4, 2026

BWOW (Bitwise Dogecoin ETF) and BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) are both exchange-traded funds - BWOW is a Cryptocurrency fund tracking the DOGE/USD Exchange Rate - Benchmark Price Return, while BFOC is a Defined Outcome fund actively managed by First Trust. BWOW is passively managed, while BFOC is actively managed. A 0.71 correlation means they provide meaningful diversification when combined. BWOW charges 0.34%/yr vs 0.90%/yr for BFOC.

Performance

BWOW vs. BFOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Dogecoin ETF (BWOW) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BWOW achieves a -21.75% return, which is significantly lower than BFOC's -7.39% return.

BWOW

• 1D: -2.45%
• 1M: -16.98%
• YTD: -21.75%
• 6M: -39.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFOC

• 1D: -0.24%
• 1M: -2.82%
• YTD: -7.39%
• 6M: -9.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BWOW vs. BFOC - Yearly Performance Comparison

	2026 (YTD)	2025
BWOW Bitwise Dogecoin ETF	-21.75%	-24.63%
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October	-7.39%	-1.16%

Correlation

The correlation between BWOW and BFOC is 0.71, 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 28, 2025	0.71

Return for Risk

BWOW vs. BFOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Dogecoin ETF (BWOW) and FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BWOW	BFOC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.87	-1.88	+1.01

Drawdowns

BWOW vs. BFOC - Drawdown Comparison

The maximum BWOW drawdown since its inception was -42.77%, which is greater than BFOC's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for BWOW and BFOC.

Drawdown Indicators

	BWOW	BFOC	Difference
Max Drawdown Largest peak-to-trough decline	-42.77%	-18.20%	-24.57%
Current Drawdown Current decline from peak	-41.02%	-18.20%	-22.82%
Average Drawdown Average peak-to-trough decline	-28.82%	-12.52%	-16.30%

Volatility

Volatility by Period

	BWOW	BFOC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	74.31%	12.61%	+61.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.31%	12.61%	+61.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.31%	12.61%	+61.70%

BWOW vs. BFOC - Expense Ratio Comparison

BWOW has a 0.34% expense ratio, which is lower than BFOC's 0.90% expense ratio.

Dividends

BWOW vs. BFOC - Dividend Comparison

Neither BWOW nor BFOC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BWOW and BFOC in my portfolio?

BWOW and BFOC have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BWOW or BFOC?

On fees, BWOW is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BWOW or BFOC?

BWOW is cheaper with a 0.34% expense ratio, compared with 0.90% for BFOC.

Which ETF pays a higher dividend yield, BWOW or BFOC?

BWOW and BFOC have nearly identical dividend yields, around 0.00%.

What is the main difference between BWOW and BFOC?

BWOW is categorized as Cryptocurrency, while BFOC is Defined Outcome. They also come from different issuers: Bitwise and First Trust. Their fees differ too: 0.34% for BWOW and 0.90% for BFOC.