EZBC vs. BITX

Last updated Jun 4, 2026

EZBC (Franklin Bitcoin ETF) and BITX (Volatility Shares 2x Bitcoin Strategy ETF) are both Cryptocurrency funds. EZBC is passively managed, while BITX is actively managed. Over the past year, EZBC returned -38.68% vs -73.21% for BITX. With a 1.00 correlation, they move nearly in lockstep. EZBC charges 0.19%/yr vs 1.85%/yr for BITX.

Performance

EZBC vs. BITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Bitcoin ETF (EZBC) and Volatility Shares 2x Bitcoin Strategy ETF (BITX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZBC achieves a -25.36% return, which is significantly higher than BITX's -52.31% return.

EZBC

• 1D: -2.73%
• 1M: -18.42%
• YTD: -25.36%
• 6M: -29.82%
• 1Y: -38.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITX

• 1D: -5.39%
• 1M: -34.65%
• YTD: -52.31%
• 6M: -58.66%
• 1Y: -73.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EZBC vs. BITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZBC Franklin Bitcoin ETF	-25.36%	-6.56%	100.18%
BITX Volatility Shares 2x Bitcoin Strategy ETF	-52.31%	-38.71%	124.88%

Correlation

The correlation between EZBC and BITX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	1.00

The correlation between EZBC and BITX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

EZBC vs. BITX — Risk / Return Rank

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

EZBC

EZBC Risk / Return Rank: 2
EZBC Sharpe Ratio Rank: 2
EZBC Sortino Ratio Rank: 2
EZBC Omega Ratio Rank: 2
EZBC Calmar Ratio Rank: 2
EZBC Martin Ratio Rank: 2

BITX

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

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.

EZBC vs. BITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Bitcoin ETF (EZBC) and Volatility Shares 2x Bitcoin Strategy ETF (BITX). 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.

	EZBC	BITX	Difference
Sharpe ratio Return per unit of total volatility	-0.89	-0.85	-0.04
Sortino ratio Return per unit of downside risk	-1.23	-1.45	+0.22
Omega ratio Gain probability vs. loss probability	0.86	0.84	+0.02
Calmar ratio Return relative to maximum drawdown	-0.79	-0.93	+0.14
Martin ratio Return relative to average drawdown	-1.36	-1.46	+0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZBC vs. BITX - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -0.89, which is comparable to the BITX Sharpe Ratio of -0.85. The chart below compares the historical Sharpe Ratios of EZBC and BITX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EZBC	BITX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.89	-0.85	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.04	+0.26

Drawdowns

EZBC vs. BITX - Drawdown Comparison

The maximum EZBC drawdown since its inception was -49.37%, smaller than the maximum BITX drawdown of -78.92%. Use the drawdown chart below to compare losses from any high point for EZBC and BITX.

Drawdown Indicators

	EZBC	BITX	Difference
Max Drawdown Largest peak-to-trough decline	-49.37%	-78.92%	+29.55%
Max Drawdown (1Y) Largest decline over 1 year	-49.37%	-78.92%	+29.55%
Current Drawdown Current decline from peak	-48.04%	-78.92%	+30.88%
Average Drawdown Average peak-to-trough decline	-16.01%	-31.70%	+15.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.42%	50.03%	-21.61%

Volatility

EZBC vs. BITX - Volatility Comparison

The current volatility for Franklin Bitcoin ETF (EZBC) is 9.43%, while Volatility Shares 2x Bitcoin Strategy ETF (BITX) has a volatility of 19.24%. This indicates that EZBC experiences smaller price fluctuations and is considered to be less risky than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZBC	BITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.43%	19.24%	-9.81%
Volatility (6M) Calculated over the trailing 6-month period	34.44%	69.07%	-34.63%
Volatility (1Y) Calculated over the trailing 1-year period	43.67%	86.83%	-43.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.06%	98.27%	-48.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.06%	98.27%	-48.21%

EZBC vs. BITX - Expense Ratio Comparison

EZBC has a 0.19% expense ratio, which is lower than BITX's 1.85% expense ratio.

Dividends

EZBC vs. BITX - Dividend Comparison

EZBC has not paid dividends to shareholders, while BITX's dividend yield for the trailing twelve months is around 33.24%.

Position	TTM	2025	2024
BITX Volatility Shares 2x Bitcoin Strategy ETF	33.24%	21.69%	10.70%
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZBC and BITX in my portfolio?

With a correlation of 1.00, EZBC and BITX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EZBC or BITX?

BITX has higher volatility (19.24%) compared to EZBC (9.43%). In terms of maximum drawdown, EZBC dropped -49.37% vs BITX's -78.92%.

Which ETF is better, EZBC or BITX?

On 1-year performance, EZBC leads with -38.68% vs -73.21% for BITX. On fees, EZBC is cheaper at 0.19% per year. On volatility, EZBC has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZBC or BITX?

Over the 1-year period, EZBC has performed better with a -38.68% return vs -73.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZBC or BITX?

EZBC is cheaper with a 0.19% expense ratio, compared with 1.85% for BITX.

Which ETF pays a higher dividend yield, EZBC or BITX?

BITX has the higher dividend yield at 33.24%, compared with 0.00% for EZBC.

What is the main difference between EZBC and BITX?

They also come from different issuers: Franklin Templeton and Volatility Shares. Their fees differ too: 0.19% for EZBC and 1.85% for BITX.

Which has better risk-adjusted returns?

BITX currently has the higher Sharpe Ratio (-0.85 vs -0.89), 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.