BWOW vs. SOEZ

Last updated Jun 4, 2026

BWOW (Bitwise Dogecoin ETF) and SOEZ (Franklin Solana ETF) are both Cryptocurrency funds. BWOW is passively managed, while SOEZ is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. BWOW charges 0.34%/yr vs 0.19%/yr for SOEZ.

Performance

BWOW vs. SOEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Dogecoin ETF (BWOW) and Franklin Solana ETF (SOEZ). 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 SOEZ's -40.75% return.

BWOW

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

SOEZ

• 1D: -4.56%
• 1M: -14.51%
• YTD: -40.75%
• 6M: -47.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BWOW vs. SOEZ - Yearly Performance Comparison

	2026 (YTD)	2025
BWOW Bitwise Dogecoin ETF	-21.75%	-22.34%
SOEZ Franklin Solana ETF	-40.75%	-11.97%

Correlation

The correlation between BWOW and SOEZ is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025	0.81

Return for Risk

BWOW vs. SOEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Dogecoin ETF (BWOW) and Franklin Solana ETF (SOEZ). 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	SOEZ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.87	-1.07	+0.20

Drawdowns

BWOW vs. SOEZ - Drawdown Comparison

The maximum BWOW drawdown since its inception was -42.77%, smaller than the maximum SOEZ drawdown of -50.21%. Use the drawdown chart below to compare losses from any high point for BWOW and SOEZ.

Drawdown Indicators

	BWOW	SOEZ	Difference
Max Drawdown Largest peak-to-trough decline	-42.77%	-50.21%	+7.44%
Current Drawdown Current decline from peak	-41.02%	-50.21%	+9.19%
Average Drawdown Average peak-to-trough decline	-28.82%	-30.80%	+1.98%

Volatility

Volatility by Period

	BWOW	SOEZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	74.31%	68.92%	+5.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.31%	68.92%	+5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.31%	68.92%	+5.39%

BWOW vs. SOEZ - Expense Ratio Comparison

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

Dividends

BWOW vs. SOEZ - Dividend Comparison

BWOW has not paid dividends to shareholders, while SOEZ's dividend yield for the trailing twelve months is around 0.57%.

Position	TTM
BWOW Bitwise Dogecoin ETF	0.00%
SOEZ Franklin Solana ETF	0.57%

Frequently Asked Questions

Can I hold both BWOW and SOEZ in my portfolio?

BWOW and SOEZ have a correlation of 0.81, 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 SOEZ?

On fees, SOEZ 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 SOEZ?

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

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

SOEZ has the higher dividend yield at 0.57%, compared with 0.00% for BWOW.

What is the main difference between BWOW and SOEZ?

They also come from different issuers: Bitwise and Franklin. Their fees differ too: 0.34% for BWOW and 0.19% for SOEZ.