EZET vs. BITB

Last updated Aug 5, 2026

EZET (Franklin Ethereum ETF) and BITB (Bitwise Bitcoin ETF) are both Cryptocurrency funds - EZET tracks the CME CF Ether-Dollar Reference Rate - New York Variant while BITB tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, EZET returned -49.07% vs -44.15% for BITB. Their correlation of 0.82 means they have usually moved in the same direction. EZET charges 0.19%/yr vs 0.20%/yr for BITB.

Performance

EZET vs. BITB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Ethereum ETF (EZET) and Bitwise Bitcoin ETF (BITB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZET achieves a -36.99% return, which is significantly lower than BITB's -26.70% return.

EZET

• 1D: 0.28%
• 1M: 10.09%
• 6M: -18.59%
• YTD: -36.99%
• 1Y: -49.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.66%

BITB

• 1D: 0.61%
• 1M: 4.53%
• 6M: -15.94%
• YTD: -26.70%
• 1Y: -44.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.81%

*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)
BITB Bitwise Bitcoin ETF	$37.03M	$37.92M	$55.56M
EZET Franklin Ethereum ETF	$400.33K	$484.91K	$668.91K

EZET vs. BITB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZET Franklin Ethereum ETF	-36.99%	-11.23%	-4.77%
BITB Bitwise Bitcoin ETF	-26.70%	-6.47%	36.66%

Correlation

The correlation between EZET and BITB is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.82

The correlation between EZET and BITB has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

EZET vs. BITB — Risk / Return Rank

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

EZET

EZET Risk / Return Rank: 3
EZET Sharpe Ratio Rank: 3
EZET Sortino Ratio Rank: 3
EZET Omega Ratio Rank: 3
EZET Calmar Ratio Rank: 3
EZET Martin Ratio Rank: 4

BITB

BITB Risk / Return Rank: 2
BITB Sharpe Ratio Rank: 2
BITB Sortino Ratio Rank: 2
BITB Omega Ratio Rank: 2
BITB Calmar Ratio Rank: 2
BITB 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.

EZET vs. BITB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Ethereum ETF (EZET) and Bitwise Bitcoin ETF (BITB). 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.

	EZET	BITB	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	-1.00	+0.26
Sortino ratio: Return per unit of downside risk	-0.95	-1.47	+0.52
Omega ratio: Gain probability vs. loss probability	0.89	0.84	+0.06
Calmar ratio: Return relative to maximum drawdown	-0.72	-0.83	+0.11
Martin ratio: Return relative to average drawdown	-1.07	-1.27	+0.19

EZET vs. BITB - Sharpe Ratio Comparison

The current EZET Sharpe Ratio is -0.74, which is comparable to the BITB Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of EZET and BITB, 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

EZET vs. BITB - Drawdown Comparison

The maximum EZET drawdown since its inception was -67.89%, which is greater than BITB's maximum drawdown of -53.33%. Use the drawdown chart below to compare losses from any high point for EZET and BITB.

Drawdown Indicators

	EZET	BITB	Difference
Max Drawdown Largest peak-to-trough decline	-67.89%	-53.33%	-14.56%
Max Drawdown (1Y) Largest decline over 1 year	-67.89%	-53.33%	-14.56%
Current Drawdown Current decline from peak	-61.38%	-48.94%	-12.44%
Average Drawdown Average peak-to-trough decline	-35.30%	-18.34%	-16.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.69%	34.91%	+10.78%

Volatility

EZET vs. BITB - Volatility Comparison

Franklin Ethereum ETF (EZET) has a higher volatility of 11.10% compared to Bitwise Bitcoin ETF (BITB) at 8.10%. This indicates that EZET's price experiences larger fluctuations and is considered to be riskier than BITB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZET	BITB	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	8.10%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	43.45%	33.02%	+10.43%
Volatility (1Y) Calculated over the trailing 1-year period	66.94%	44.31%	+22.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.19%	49.31%	+21.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.19%	49.31%	+21.88%

EZET vs. BITB - Expense Ratio Comparison

EZET has a 0.19% expense ratio, which is lower than BITB's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EZET vs. BITB - Dividend Comparison

Neither EZET nor BITB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EZET and BITB in my portfolio?

With a correlation of 0.91, EZET and BITB 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, EZET or BITB?

EZET has higher volatility (11.10%) compared to BITB (8.10%). In terms of maximum drawdown, EZET dropped -67.89% vs BITB's -53.33%.

Which ETF is better, EZET or BITB?

On 1-year performance, BITB leads with -44.15% vs -49.07% for EZET. On fees, EZET is cheaper at 0.19% per year. On volatility, BITB has been the lower-risk option at 8.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZET or BITB?

Over the 1-year period, BITB has performed better with a -44.15% return vs -49.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZET or BITB?

EZET is cheaper with a 0.19% expense ratio, compared with 0.20% for BITB.

Which ETF pays a higher dividend yield, EZET or BITB?

EZET and BITB have nearly identical dividend yields, around 0.00%.

What is the main difference between EZET and BITB?

EZET tracks CME CF Ether-Dollar Reference Rate - New York Variant, while BITB tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Franklin Templeton and Bitwise. Their fees differ too: 0.19% for EZET and 0.20% for BITB.

Which has better risk-adjusted returns?

EZET currently has the higher Sharpe Ratio (-0.74 vs -1.00), 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.