EZBC vs. BTCL

Last updated Aug 2, 2026

EZBC (Franklin Bitcoin ETF) and BTCL (T-REX 2X Long Bitcoin Daily Target ETF) are both exchange-traded funds - EZBC is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while BTCL is a Leveraged Cryptocurrency fund actively managed by REX. EZBC is passively managed, while BTCL is actively managed. Over the past year, EZBC returned -44.53% vs -78.91% for BTCL. Their 1.00 correlation means they have historically moved very closely together. EZBC charges 0.19%/yr vs 0.95%/yr for BTCL.

Performance

EZBC vs. BTCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Bitcoin ETF (EZBC) and T-REX 2X Long Bitcoin Daily Target ETF (BTCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZBC achieves a -28.20% return, which is significantly higher than BTCL's -58.66% return.

EZBC

• 1D: -2.86%
• 1M: 2.28%
• 6M: -25.05%
• YTD: -28.20%
• 1Y: -44.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.49%

BTCL

• 1D: -5.62%
• 1M: 3.27%
• 6M: -53.78%
• YTD: -58.66%
• 1Y: -78.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -28.39%

*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)
BTCL T-REX 2X Long Bitcoin Daily Target ETF	$874.62K	$895.29K	$1.28M
EZBC Franklin Bitcoin ETF	$3.11M	$3.63M	$7.00M

EZBC vs. BTCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZBC Franklin Bitcoin ETF	-28.20%	-6.56%	60.97%
BTCL T-REX 2X Long Bitcoin Daily Target ETF	-58.66%	-39.52%	101.29%

Correlation

The correlation between EZBC and BTCL is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	1.00

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

Return for Risk

EZBC vs. BTCL — Risk / Return Rank

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

EZBC

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

BTCL

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

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.

EZBC vs. BTCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Bitcoin ETF (EZBC) and T-REX 2X Long Bitcoin Daily Target ETF (BTCL). 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.

	EZBC	BTCL	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-0.91	-0.14
Sortino ratio: Return per unit of downside risk	-1.58	-1.83	+0.25
Omega ratio: Gain probability vs. loss probability	0.83	0.80	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.96	+0.09
Martin ratio: Return relative to average drawdown	-1.34	-1.34	0.00

EZBC vs. BTCL - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -1.05, which is comparable to the BTCL Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of EZBC and BTCL, 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

EZBC vs. BTCL - Drawdown Comparison

The maximum EZBC drawdown since its inception was -53.35%, smaller than the maximum BTCL drawdown of -84.01%. Use the drawdown chart below to compare losses from any high point for EZBC and BTCL.

Drawdown Indicators

	EZBC	BTCL	Difference
Max Drawdown Largest peak-to-trough decline	-53.35%	-84.01%	+30.66%
Max Drawdown (1Y) Largest decline over 1 year	-53.35%	-84.01%	+30.66%
Current Drawdown Current decline from peak	-50.02%	-82.03%	+32.01%
Average Drawdown Average peak-to-trough decline	-18.28%	-37.76%	+19.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.65%	59.98%	-25.33%

Volatility

EZBC vs. BTCL - Volatility Comparison

The current volatility for Franklin Bitcoin ETF (EZBC) is 9.03%, while T-REX 2X Long Bitcoin Daily Target ETF (BTCL) has a volatility of 17.89%. This indicates that EZBC experiences smaller price fluctuations and is considered to be less risky than BTCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZBC	BTCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	17.89%	-8.86%
Volatility (6M) Calculated over the trailing 6-month period	33.75%	68.12%	-34.37%
Volatility (1Y) Calculated over the trailing 1-year period	44.37%	88.68%	-44.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.52%	96.26%	-46.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.52%	96.26%	-46.74%

EZBC vs. BTCL - Expense Ratio Comparison

EZBC has a 0.19% expense ratio, which is lower than BTCL's 0.95% expense ratio.

Dividends

EZBC vs. BTCL - Dividend Comparison

EZBC has not paid dividends to shareholders, while BTCL's dividend yield for the trailing twelve months is around 4.10%.

Position	TTM	2025	2024
BTCL T-REX 2X Long Bitcoin Daily Target ETF	4.10%	1.70%	4.35%
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZBC and BTCL in my portfolio?

With a correlation of 1.00, EZBC and BTCL 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 BTCL?

BTCL has higher volatility (17.89%) compared to EZBC (9.03%). In terms of maximum drawdown, EZBC dropped -53.35% vs BTCL's -84.01%.

Which ETF is better, EZBC or BTCL?

On 1-year performance, EZBC leads with -44.53% vs -78.91% for BTCL. On fees, EZBC is cheaper at 0.19% per year. On volatility, EZBC has been the lower-risk option at 9.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZBC or BTCL?

Over the 1-year period, EZBC has performed better with a -44.53% return vs -78.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZBC or BTCL?

EZBC is cheaper with a 0.19% expense ratio, compared with 0.95% for BTCL.

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

BTCL has the higher dividend yield at 4.10%, compared with 0.00% for EZBC.

What is the main difference between EZBC and BTCL?

EZBC is categorized as Cryptocurrency, while BTCL is Leveraged Cryptocurrency. They also come from different issuers: Franklin Templeton and REX. Their fees differ too: 0.19% for EZBC and 0.95% for BTCL.

Which has better risk-adjusted returns?

BTCL currently has the higher Sharpe Ratio (-0.91 vs -1.05), 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.