BWOW vs. BITC
BWOW (Bitwise Dogecoin ETF) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds from Bitwise. BWOW is passively managed, while BITC is actively managed. At a 0.46 correlation, their price movements are largely independent. BWOW charges 0.34%/yr vs 0.88%/yr for BITC.
Performance
BWOW vs. BITC - Performance Comparison
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Returns By Period
In the year-to-date period, BWOW achieves a -33.12% return, which is significantly lower than BITC's 3.58% return.
BWOW
- 1D
- -5.22%
- 1M
- -24.37%
- YTD
- -33.12%
- 6M
- -39.60%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITC
- 1D
- -3.33%
- 1M
- -3.10%
- YTD
- 3.58%
- 6M
- 3.49%
- 1Y
- -13.86%
- 3Y*
- 28.98%
- 5Y*
- —
- 10Y*
- —
BWOW vs. BITC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BWOW Bitwise Dogecoin ETF | -33.12% | -22.26% |
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.58% | -7.59% |
Correlation
The correlation between BWOW and BITC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025 | 0.46 |
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Return for Risk
BWOW vs. BITC — Risk / Return Rank
BWOW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BITC
BWOW vs. BITC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Dogecoin ETF (BWOW) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BWOW | BITC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.90 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.52 | — |
| Martin ratioReturn relative to average drawdown | — | -0.73 | — |
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Drawdowns
BWOW vs. BITC - Drawdown Comparison
The maximum BWOW drawdown since its inception was -49.59%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for BWOW and BITC.
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Drawdown Indicators
| BWOW | BITC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.59% | -38.51% | -11.08% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.51% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -38.51% | — |
Current DrawdownCurrent decline from peak | -49.59% | -28.82% | -20.77% |
Average DrawdownAverage peak-to-trough decline | -30.13% | -16.51% | -13.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 18.94% | — |
Volatility
BWOW vs. BITC - Volatility Comparison
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Volatility by Period
| BWOW | BITC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.42% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.00% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 73.06% | 25.12% | +47.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.06% | 46.29% | +26.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.06% | 46.29% | +26.77% |
BWOW vs. BITC - Expense Ratio Comparison
BWOW has a 0.34% expense ratio, which is lower than BITC's 0.88% expense ratio.
Dividends
BWOW vs. BITC - Dividend Comparison
BWOW has not paid dividends to shareholders, while BITC's dividend yield for the trailing twelve months is around 3.25%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.25% | 3.36% | 42.68% | 5.82% |
BWOW Bitwise Dogecoin ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BWOW and BITC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BWOW is cheaper with a 0.34% expense ratio, compared with 0.88% for BITC.
BITC has the higher dividend yield at 3.25%, compared with 0.00% for BWOW.
Their fees differ too: 0.34% for BWOW and 0.88% for BITC.
Find the right allocation for BWOW and BITC
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