EZBC vs. EZPZ

Last updated Aug 2, 2026

EZBC (Franklin Bitcoin ETF) and EZPZ (Franklin Crypto Index ETF) are both Cryptocurrency funds from Franklin Templeton - EZBC tracks the CME CF Bitcoin Reference Rate - New York Variant while EZPZ tracks the CF Institutional Digital Asset Index – US-Settlement Price. Both are passively managed. Over the past year, EZBC returned -44.53% vs -46.59% for EZPZ. Their 0.99 correlation means they have historically moved very closely together. Both charge a 0.19% expense ratio.

Performance

EZBC vs. EZPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Bitcoin ETF (EZBC) and Franklin Crypto Index ETF (EZPZ). 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 EZPZ's -30.76% return.

EZBC

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

EZPZ

• 1D: -2.61%
• 1M: 2.14%
• 6M: -27.14%
• YTD: -30.76%
• 1Y: -46.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -28.05%

*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)
EZBC Franklin Bitcoin ETF	$3.11M	$3.63M	$7.00M
EZPZ Franklin Crypto Index ETF	$118.67K	$153.22K	$218.96K

EZBC vs. EZPZ - Yearly Performance Comparison

	2026 (YTD)	2025
EZBC Franklin Bitcoin ETF	-28.20%	-9.22%
EZPZ Franklin Crypto Index ETF	-30.76%	-10.11%

Correlation

The correlation between EZBC and EZPZ is 0.99 - 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.	0.99
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.99

The correlation between EZBC and EZPZ has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

EZBC vs. EZPZ — 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

EZPZ

EZPZ Risk / Return Rank: 2
EZPZ Sharpe Ratio Rank: 1
EZPZ Sortino Ratio Rank: 2
EZPZ Omega Ratio Rank: 2
EZPZ Calmar Ratio Rank: 2
EZPZ 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. EZPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Bitcoin ETF (EZBC) and Franklin Crypto Index ETF (EZPZ). 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	EZPZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-1.02	-0.03
Sortino ratio: Return per unit of downside risk	-1.58	-1.55	-0.03
Omega ratio: Gain probability vs. loss probability	0.83	0.83	0.00
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.86	-0.01
Martin ratio: Return relative to average drawdown	-1.34	-1.31	-0.03

EZBC vs. EZPZ - Sharpe Ratio Comparison

The current EZBC Sharpe Ratio is -1.05, which is comparable to the EZPZ Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of EZBC and EZPZ, 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. EZPZ - Drawdown Comparison

The maximum EZBC drawdown since its inception was -53.35%, smaller than the maximum EZPZ drawdown of -56.63%. Use the drawdown chart below to compare losses from any high point for EZBC and EZPZ.

Drawdown Indicators

	EZBC	EZPZ	Difference
Max Drawdown Largest peak-to-trough decline	-53.35%	-56.63%	+3.28%
Max Drawdown (1Y) Largest decline over 1 year	-53.35%	-56.63%	+3.28%
Current Drawdown Current decline from peak	-50.02%	-53.31%	+3.29%
Average Drawdown Average peak-to-trough decline	-18.28%	-25.14%	+6.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.65%	37.10%	-2.45%

Volatility

EZBC vs. EZPZ - Volatility Comparison

Franklin Bitcoin ETF (EZBC) and Franklin Crypto Index ETF (EZPZ) have volatilities of 9.03% and 9.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZBC	EZPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	9.34%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	33.75%	36.00%	-2.25%
Volatility (1Y) Calculated over the trailing 1-year period	44.37%	47.82%	-3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.52%	46.94%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.52%	46.94%	+2.58%

EZBC vs. EZPZ - Expense Ratio Comparison

Both EZBC and EZPZ have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EZBC vs. EZPZ - Dividend Comparison

Neither EZBC nor EZPZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EZBC and EZPZ in my portfolio?

With a correlation of 0.99, EZBC and EZPZ 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 EZPZ?

EZPZ has higher volatility (9.34%) compared to EZBC (9.03%). In terms of maximum drawdown, EZBC dropped -53.35% vs EZPZ's -56.63%.

Which ETF is better, EZBC or EZPZ?

On 1-year performance, EZBC leads with -44.53% vs -46.59% for EZPZ. Both ETFs have the same 0.19% expense ratio. 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 EZPZ?

Over the 1-year period, EZBC has performed better with a -44.53% return vs -46.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZBC or EZPZ?

EZBC and EZPZ have the same expense ratio: 0.19% per year.

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

EZBC and EZPZ have nearly identical dividend yields, around 0.00%.

What is the main difference between EZBC and EZPZ?

EZBC tracks CME CF Bitcoin Reference Rate - New York Variant, while EZPZ tracks CF Institutional Digital Asset Index – US-Settlement Price.

Which has better risk-adjusted returns?

EZPZ currently has the higher Sharpe Ratio (-1.02 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.