BWOW vs. EZET

Last updated Jun 4, 2026

BWOW (Bitwise Dogecoin ETF) and EZET (Franklin Ethereum ETF) are both Cryptocurrency funds - BWOW tracks the DOGE/USD Exchange Rate - Benchmark Price Return while EZET tracks the CME CF Ether-Dollar Reference Rate - New York Variant. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. BWOW charges 0.34%/yr vs 0.19%/yr for EZET.

Performance

BWOW vs. EZET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Dogecoin ETF (BWOW) and Franklin Ethereum ETF (EZET). 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 higher than EZET's -39.43% return.

BWOW

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

EZET

• 1D: -5.67%
• 1M: -23.67%
• YTD: -39.43%
• 6M: -42.74%
• 1Y: -31.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BWOW vs. EZET - Yearly Performance Comparison

	2026 (YTD)	2025
BWOW Bitwise Dogecoin ETF	-21.75%	-24.63%
EZET Franklin Ethereum ETF	-39.43%	-1.96%

Correlation

The correlation between BWOW and EZET is 0.79, 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	0.79

Return for Risk

BWOW vs. EZET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EZET

EZET Risk / Return Rank: 5
EZET Sharpe Ratio Rank: 5
EZET Sortino Ratio Rank: 6
EZET Omega Ratio Rank: 6
EZET Calmar Ratio Rank: 5
EZET Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BWOW vs. EZET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Dogecoin ETF (BWOW) and Franklin Ethereum ETF (EZET). 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	EZET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.87	-0.41	-0.46

Drawdowns

BWOW vs. EZET - Drawdown Comparison

The maximum BWOW drawdown since its inception was -42.77%, smaller than the maximum EZET drawdown of -64.05%. Use the drawdown chart below to compare losses from any high point for BWOW and EZET.

Drawdown Indicators

	BWOW	EZET	Difference
Max Drawdown Largest peak-to-trough decline	-42.77%	-64.05%	+21.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-62.87%	—
Current Drawdown Current decline from peak	-41.02%	-62.87%	+21.85%
Average Drawdown Average peak-to-trough decline	-28.82%	-32.67%	+3.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	37.73%	—

Volatility

Volatility by Period

	BWOW	EZET	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	74.31%	68.43%	+5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.31%	72.37%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.31%	72.37%	+1.94%

BWOW vs. EZET - Expense Ratio Comparison

BWOW has a 0.34% expense ratio, which is higher than EZET's 0.19% expense ratio.

Dividends

BWOW vs. EZET - Dividend Comparison

Neither BWOW nor EZET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BWOW and EZET in my portfolio?

BWOW and EZET have a correlation of 0.79, 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 EZET?

On fees, EZET is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BWOW or EZET?

EZET is cheaper with a 0.19% expense ratio, compared with 0.34% for BWOW.

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

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

What is the main difference between BWOW and EZET?

BWOW tracks DOGE/USD Exchange Rate - Benchmark Price Return, while EZET tracks CME CF Ether-Dollar Reference Rate - New York Variant. They also come from different issuers: Bitwise and Franklin Templeton. Their fees differ too: 0.34% for BWOW and 0.19% for EZET.