DHS vs. GBTC
DHS (WisdomTree US High Dividend Fund) and GBTC (Grayscale Bitcoin Trust ETF) are both exchange-traded funds - DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index, while GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. Both are passively managed. Over the past 10 years, DHS returned 9.75%/yr vs 46.15%/yr for GBTC. At a 0.15 correlation, their price movements are largely independent. DHS charges 0.38%/yr vs 1.50%/yr for GBTC.
Performance
DHS vs. GBTC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DHS achieves a 12.81% return, which is significantly higher than GBTC's -27.85% return. Over the past 10 years, DHS has underperformed GBTC with an annualized return of 9.75%, while GBTC has yielded a comparatively higher 46.15% annualized return.
DHS
- 1D
- 0.56%
- 1M
- 2.48%
- YTD
- 12.81%
- 6M
- 12.76%
- 1Y
- 22.47%
- 3Y*
- 16.75%
- 5Y*
- 11.12%
- 10Y*
- 9.75%
GBTC
- 1D
- 2.71%
- 1M
- -21.45%
- YTD
- -27.85%
- 6M
- -31.30%
- 1Y
- -42.50%
- 3Y*
- 55.49%
- 5Y*
- 9.89%
- 10Y*
- 46.15%
DHS vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHS WisdomTree US High Dividend Fund | 12.81% | 12.87% | 18.02% | -0.19% | 7.97% | 23.20% | -5.70% | 22.59% | -7.41% | 11.69% |
GBTC Grayscale Bitcoin Trust ETF | -27.85% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
Correlation
The correlation between DHS and GBTC is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 4, 2015 | 0.15 |
The correlation between DHS and GBTC shifts across timeframes, from 0.13 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DHS vs. GBTC — Risk / Return Rank
DHS
GBTC
DHS vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree US High Dividend Fund (DHS) and Grayscale Bitcoin Trust ETF (GBTC). 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.
| DHS | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.22 | ||
| Sortino ratioReturn per unit of downside risk | +4.77 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.84 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | -0.81 | +4.40 |
| Martin ratioReturn relative to average drawdown | 13.09 | -1.43 | +14.53 |
Loading charts...
Drawdowns
DHS vs. GBTC - Drawdown Comparison
The maximum DHS drawdown since its inception was -67.25%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for DHS and GBTC.
Loading charts...
Drawdown Indicators
| DHS | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.25% | -89.91% | +22.66% |
Max Drawdown (1Y)Largest decline over 1 year | -6.30% | -52.45% | +46.15% |
Max Drawdown (3Y)Largest decline over 3 years | -11.87% | -52.45% | +40.58% |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | -85.42% | +70.14% |
Max Drawdown (10Y)Largest decline over 10 years | -37.35% | -89.91% | +52.56% |
Current DrawdownCurrent decline from peak | -0.00% | -49.89% | +49.89% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -43.43% | +33.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 29.68% | -27.96% |
Volatility
DHS vs. GBTC - Volatility Comparison
The current volatility for WisdomTree US High Dividend Fund (DHS) is 3.07%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 11.92%. This indicates that DHS experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DHS | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 11.92% | -8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.35% | 34.41% | -27.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.02% | 44.01% | -33.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.90% | 62.27% | -48.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 82.18% | -66.10% |
DHS vs. GBTC - Expense Ratio Comparison
DHS has a 0.38% expense ratio, which is lower than GBTC's 1.50% expense ratio.
Dividends
DHS vs. GBTC - Dividend Comparison
DHS's dividend yield for the trailing twelve months is around 3.27%, while GBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHS WisdomTree US High Dividend Fund | 3.27% | 3.32% | 3.66% | 4.31% | 3.42% | 3.29% | 4.14% | 3.69% | 3.76% | 3.00% | 3.25% | 3.53% |
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% | 0.00% | 0.00% |
Frequently Asked Questions
DHS and GBTC have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (11.92%) compared to DHS (3.07%). In terms of maximum drawdown, DHS dropped -67.25% vs GBTC's -89.91%.
On 10-year performance, GBTC leads with 46.15% vs 9.75% for DHS. On fees, DHS is cheaper at 0.38% per year. On volatility, DHS has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GBTC has performed better with a 46.15% return vs 9.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DHS is cheaper with a 0.38% expense ratio, compared with 1.50% for GBTC.
DHS has the higher dividend yield at 3.27%, compared with 0.00% for GBTC.
DHS is categorized as Large Cap Value Equities, while GBTC is Cryptocurrency. DHS tracks WisdomTree U.S. High Dividend Index, while GBTC tracks CoinDesk Bitcoin Benchmark Rate Index. They also come from different issuers: WisdomTree and Grayscale. Their fees differ too: 0.38% for DHS and 1.50% for GBTC.
DHS currently has the higher Sharpe Ratio (2.25 vs -0.97), 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.
Find the right allocation for DHS and GBTC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer