EZBC vs. BTRN

Last updated Apr 2, 2026

Compare and contrast key facts about Franklin Bitcoin ETF (EZBC) and Global X Bitcoin Trend Strategy ETF (BTRN).

EZBC and BTRN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EZBC is a passively managed fund by Franklin Templeton that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 11, 2024. BTRN is a passively managed fund by Global X that tracks the performance of the CoinDesk Bitcoin Trend Indicator Futures Index. It was launched on Mar 20, 2024. Both EZBC and BTRN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EZBC vs. BTRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Bitcoin ETF (EZBC) and Global X Bitcoin Trend Strategy ETF (BTRN). The values are adjusted to include any dividend payments, if applicable.

EZBC vs. BTRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZBC Franklin Bitcoin ETF	-22.09%	-6.56%	42.91%
BTRN Global X Bitcoin Trend Strategy ETF	-1.55%	4.89%	5.22%

Returns By Period

In the year-to-date period, EZBC achieves a -22.09% return, which is significantly lower than BTRN's -1.55% return.

EZBC

• 1D: 0.59%
• 1M: -1.43%
• YTD: -22.09%
• 6M: -42.07%
• 1Y: -19.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTRN

• 1D: 0.04%
• 1M: -0.80%
• YTD: -1.55%
• 6M: -11.91%
• 1Y: 2.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EZBC vs. BTRN - Expense Ratio Comparison

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

BTRN

Global X Bitcoin Trend Strategy ETF

EZBC

Franklin Bitcoin ETF

Return for Risk

EZBC vs. BTRN — Risk / Return Rank

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

EZBC

EZBC Risk / Return Rank: 6
EZBC Sharpe Ratio Rank: 5
EZBC Sortino Ratio Rank: 5
EZBC Omega Ratio Rank: 6
EZBC Calmar Ratio Rank: 6
EZBC Martin Ratio Rank: 6

BTRN

BTRN Risk / Return Rank: 14
BTRN Sharpe Ratio Rank: 14
BTRN Sortino Ratio Rank: 14
BTRN Omega Ratio Rank: 15
BTRN Calmar Ratio Rank: 14
BTRN Martin Ratio Rank: 13

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. BTRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Bitcoin ETF (EZBC) and Global X Bitcoin Trend Strategy ETF (BTRN). 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	BTRN	Difference
Sharpe ratio Return per unit of total volatility	-0.44	0.13	-0.58
Sortino ratio Return per unit of downside risk	-0.37	0.33	-0.70
Omega ratio Gain probability vs. loss probability	0.96	1.05	-0.09
Calmar ratio Return relative to maximum drawdown	-0.35	0.18	-0.53
Martin ratio Return relative to average drawdown	-0.75	0.28	-1.03
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. BTRN - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -0.44, which is lower than the BTRN Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of EZBC and BTRN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EZBC	BTRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	0.13	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.13	+0.23

Correlation

The correlation between EZBC and BTRN is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EZBC vs. BTRN - Dividend Comparison

EZBC has not paid dividends to shareholders, while BTRN's dividend yield for the trailing twelve months is around 28.19%.

	TTM	2025	2024
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%
BTRN Global X Bitcoin Trend Strategy ETF	28.19%	27.76%	2.56%

Drawdowns

EZBC vs. BTRN - Drawdown Comparison

The maximum EZBC drawdown since its inception was -49.37%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for EZBC and BTRN.

Drawdown Indicators

	EZBC	BTRN	Difference
Max Drawdown Largest peak-to-trough decline	-49.37%	-36.97%	-12.40%
Max Drawdown (1Y) Largest decline over 1 year	-49.37%	-19.80%	-29.57%
Current Drawdown Current decline from peak	-45.77%	-18.92%	-26.85%
Average Drawdown Average peak-to-trough decline	-14.18%	-14.13%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.25%	12.79%	+10.46%

Volatility

EZBC vs. BTRN - Volatility Comparison

Franklin Bitcoin ETF (EZBC) has a higher volatility of 13.02% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 2.69%. This indicates that EZBC's price experiences larger fluctuations and is considered to be riskier than BTRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZBC	BTRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.02%	2.69%	+10.33%
Volatility (6M) Calculated over the trailing 6-month period	36.81%	9.24%	+27.57%
Volatility (1Y) Calculated over the trailing 1-year period	45.37%	20.02%	+25.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.08%	31.64%	+19.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.08%	31.64%	+19.44%