DECO vs. QBF

Last updated Aug 5, 2026

DECO (State Street Galaxy Digital Asset Ecosystem ETF) and QBF (Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly) are both Blockchain funds. Both are actively managed. Over the past year, DECO returned 107.22% vs -42.28% for QBF. Their 0.61 correlation means they have sometimes moved together and sometimes differently. DECO charges 0.65%/yr vs 0.79%/yr for QBF.

Performance

DECO vs. QBF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Galaxy Digital Asset Ecosystem ETF (DECO) and Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DECO achieves a 69.59% return, which is significantly higher than QBF's -27.43% return.

DECO

• 1D: 0.38%
• 1M: 1.45%
• 6M: 52.64%
• YTD: 69.59%
• 1Y: 107.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 83.90%

QBF

• 1D: 0.45%
• 1M: 3.01%
• 6M: -19.69%
• YTD: -27.43%
• 1Y: -42.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -27.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DECO State Street Galaxy Digital Asset Ecosystem ETF	$78.29K	$85.73K	$119.46K
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly	$61.34K	$84.88K	$133.05K

DECO vs. QBF - Yearly Performance Comparison

	2026 (YTD)	2025
DECO State Street Galaxy Digital Asset Ecosystem ETF	69.59%	27.50%
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly	-27.43%	-14.76%

Correlation

The correlation between DECO and QBF is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.61

The correlation between DECO and QBF has been stable across timeframes, ranging from 0.61 to 0.61 - a consistent structural relationship.

Return for Risk

DECO vs. QBF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DECO

DECO Risk / Return Rank: 81
DECO Sharpe Ratio Rank: 87
DECO Sortino Ratio Rank: 78
DECO Omega Ratio Rank: 74
DECO Calmar Ratio Rank: 90
DECO Martin Ratio Rank: 78

QBF

QBF Risk / Return Rank: 1
QBF Sharpe Ratio Rank: 0
QBF Sortino Ratio Rank: 0
QBF Omega Ratio Rank: 0
QBF Calmar Ratio Rank: 2
QBF Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DECO vs. QBF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Galaxy Digital Asset Ecosystem ETF (DECO) and Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF). 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.

	DECO	QBF	Difference
Sharpe ratio: Return per unit of total volatility	2.29	-1.56	+3.86
Sortino ratio: Return per unit of downside risk	2.83	-2.43	+5.26
Omega ratio: Gain probability vs. loss probability	1.35	0.74	+0.61
Calmar ratio: Return relative to maximum drawdown	4.21	-0.87	+5.08
Martin ratio: Return relative to average drawdown	11.22	-1.39	+12.60

DECO vs. QBF - Sharpe Ratio Comparison

The current DECO Sharpe Ratio is 2.29, which is higher than the QBF Sharpe Ratio of -1.56. The chart below compares the historical Sharpe Ratios of DECO and QBF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DECO vs. QBF - Drawdown Comparison

The maximum DECO drawdown since its inception was -47.71%, roughly equal to the maximum QBF drawdown of -48.71%. Use the drawdown chart below to compare losses from any high point for DECO and QBF.

Drawdown Indicators

	DECO	QBF	Difference
Max Drawdown Largest peak-to-trough decline	-47.71%	-48.71%	+1.00%
Max Drawdown (1Y) Largest decline over 1 year	-25.60%	-48.71%	+23.11%
Current Drawdown Current decline from peak	-7.09%	-45.76%	+38.67%
Average Drawdown Average peak-to-trough decline	-11.22%	-20.02%	+8.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.59%	30.54%	-20.95%

Volatility

DECO vs. QBF - Volatility Comparison

State Street Galaxy Digital Asset Ecosystem ETF (DECO) has a higher volatility of 19.26% compared to Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) at 5.79%. This indicates that DECO's price experiences larger fluctuations and is considered to be riskier than QBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DECO	QBF	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.26%	5.79%	+13.47%
Volatility (6M) Calculated over the trailing 6-month period	36.67%	19.12%	+17.55%
Volatility (1Y) Calculated over the trailing 1-year period	47.11%	27.19%	+19.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.84%	28.64%	+23.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.84%	28.64%	+23.20%

DECO vs. QBF - Expense Ratio Comparison

DECO has a 0.65% expense ratio, which is lower than QBF's 0.79% expense ratio.

Dividends

DECO vs. QBF - Dividend Comparison

DECO's dividend yield for the trailing twelve months is around 0.68%, less than QBF's 1.90% yield.

Position	TTM	2025	2024
DECO State Street Galaxy Digital Asset Ecosystem ETF	0.68%	1.16%	1.73%
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly	1.90%	1.38%	0.00%

Frequently Asked Questions

Can I hold both DECO and QBF in my portfolio?

DECO and QBF have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DECO or QBF?

DECO has higher volatility (19.26%) compared to QBF (5.79%). In terms of maximum drawdown, DECO dropped -47.71% vs QBF's -48.71%.

Which ETF is better, DECO or QBF?

On 1-year performance, DECO leads with 107.22% vs -42.28% for QBF. On fees, DECO is cheaper at 0.65% per year. On volatility, QBF has been the lower-risk option at 5.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECO or QBF?

Over the 1-year period, DECO has performed better with a 107.22% return vs -42.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECO or QBF?

DECO is cheaper with a 0.65% expense ratio, compared with 0.79% for QBF.

Which ETF pays a higher dividend yield, DECO or QBF?

QBF has the higher dividend yield at 1.90%, compared with 0.68% for DECO.

What is the main difference between DECO and QBF?

They also come from different issuers: State Street and Innovator. Their fees differ too: 0.65% for DECO and 0.79% for QBF.

Which has better risk-adjusted returns?

DECO currently has the higher Sharpe Ratio (2.29 vs -1.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.