BWOW vs. XRP

Last updated Jun 4, 2026

BWOW (Bitwise Dogecoin ETF) and XRP (Bitwise XRP ETF) are both Cryptocurrency funds from Bitwise. BWOW is passively managed, while XRP is actively managed. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.34% expense ratio.

Performance

BWOW vs. XRP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Dogecoin ETF (BWOW) and Bitwise XRP ETF (XRP). 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 XRP's -34.50% return.

BWOW

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

XRP

• 1D: -1.54%
• 1M: -14.12%
• YTD: -34.50%
• 6M: -45.52%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BWOW vs. XRP - Yearly Performance Comparison

	2026 (YTD)	2025
BWOW Bitwise Dogecoin ETF	-21.75%	-24.63%
XRP Bitwise XRP ETF	-34.50%	-17.85%

Correlation

The correlation between BWOW and XRP is 0.88, 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 Nov 28, 2025	0.88

Return for Risk

BWOW vs. XRP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Dogecoin ETF (BWOW) and Bitwise XRP ETF (XRP). 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	XRP	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.87	-0.83	-0.04

Drawdowns

BWOW vs. XRP - Drawdown Comparison

The maximum BWOW drawdown since its inception was -42.77%, smaller than the maximum XRP drawdown of -48.71%. Use the drawdown chart below to compare losses from any high point for BWOW and XRP.

Drawdown Indicators

	BWOW	XRP	Difference
Max Drawdown Largest peak-to-trough decline	-42.77%	-48.71%	+5.94%
Current Drawdown Current decline from peak	-41.02%	-48.21%	+7.19%
Average Drawdown Average peak-to-trough decline	-28.82%	-29.70%	+0.88%

Volatility

Volatility by Period

	BWOW	XRP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	74.31%	75.13%	-0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.31%	75.13%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.31%	75.13%	-0.82%

BWOW vs. XRP - Expense Ratio Comparison

Both BWOW and XRP have an expense ratio of 0.34%.

Dividends

BWOW vs. XRP - Dividend Comparison

Neither BWOW nor XRP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BWOW and XRP in my portfolio?

BWOW and XRP have a correlation of 0.88, 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 XRP?

Both ETFs have the same 0.34% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BWOW or XRP?

BWOW and XRP have the same expense ratio: 0.34% per year.

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

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