EZPZ vs. BITO

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Crypto Index ETF (EZPZ) and ProShares Bitcoin Strategy ETF (BITO).

EZPZ and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EZPZ is a passively managed fund by Franklin Templeton that tracks the performance of the CF Institutional Digital Asset Index – US-Settlement Price. It was launched on Feb 20, 2025. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.

Performance

EZPZ vs. BITO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Crypto Index ETF (EZPZ) and ProShares Bitcoin Strategy ETF (BITO). The values are adjusted to include any dividend payments, if applicable.

EZPZ vs. BITO - Yearly Performance Comparison

	2026 (YTD)	2025
EZPZ Franklin Crypto Index ETF	-23.94%	-10.23%
BITO ProShares Bitcoin Strategy ETF	-23.25%	-14.95%

Returns By Period

The year-to-date returns for both investments are quite close, with EZPZ having a -23.94% return and BITO slightly higher at -23.25%.

EZPZ

• 1D: 2.11%
• 1M: 3.63%
• YTD: -23.94%
• 6M: -43.46%
• 1Y: -16.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITO

• 1D: 1.75%
• 1M: 2.92%
• YTD: -23.25%
• 6M: -41.96%
• 1Y: -21.48%
• 3Y*: 24.62%
• 5Y*: —
• 10Y*: —

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

EZPZ vs. BITO - Expense Ratio Comparison

EZPZ has a 0.19% expense ratio, which is lower than BITO's 0.95% expense ratio.

BITO

ProShares Bitcoin Strategy ETF

EZPZ

Franklin Crypto Index ETF

Return for Risk

EZPZ vs. BITO — Risk / Return Rank

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

EZPZ

EZPZ Risk / Return Rank: 7
EZPZ Sharpe Ratio Rank: 6
EZPZ Sortino Ratio Rank: 7
EZPZ Omega Ratio Rank: 7
EZPZ Calmar Ratio Rank: 7
EZPZ Martin Ratio Rank: 6

BITO

BITO Risk / Return Rank: 5
BITO Sharpe Ratio Rank: 4
BITO Sortino Ratio Rank: 5
BITO Omega Ratio Rank: 5
BITO Calmar Ratio Rank: 5
BITO Martin Ratio Rank: 5

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.

EZPZ vs. BITO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Crypto Index ETF (EZPZ) and ProShares Bitcoin Strategy ETF (BITO). 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.

	EZPZ	BITO	Difference
Sharpe ratio Return per unit of total volatility	-0.33	-0.48	+0.14
Sortino ratio Return per unit of downside risk	-0.16	-0.43	+0.26
Omega ratio Gain probability vs. loss probability	0.98	0.95	+0.03
Calmar ratio Return relative to maximum drawdown	-0.33	-0.46	+0.13
Martin ratio Return relative to average drawdown	-0.71	-0.97	+0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZPZ vs. BITO - Sharpe Ratio Comparison

The current EZPZ Sharpe Ratio is -0.33, which is higher than the BITO Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of EZPZ and BITO, 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

	EZPZ	BITO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	-0.48	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.59	-0.08	-0.51

Correlation

The correlation between EZPZ and BITO is 0.99, 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

EZPZ vs. BITO - Dividend Comparison

EZPZ has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 84.71%.

	TTM	2025	2024	2023
EZPZ Franklin Crypto Index ETF	0.00%	0.00%	0.00%	0.00%
BITO ProShares Bitcoin Strategy ETF	84.71%	78.29%	61.59%	15.14%

Drawdowns

EZPZ vs. BITO - Drawdown Comparison

The maximum EZPZ drawdown since its inception was -52.38%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for EZPZ and BITO.

Drawdown Indicators

	EZPZ	BITO	Difference
Max Drawdown Largest peak-to-trough decline	-52.38%	-77.86%	+25.48%
Max Drawdown (1Y) Largest decline over 1 year	-52.38%	-50.05%	-2.33%
Current Drawdown Current decline from peak	-48.71%	-47.07%	-1.64%
Average Drawdown Average peak-to-trough decline	-18.25%	-36.56%	+18.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.42%	23.55%	+0.87%

Volatility

EZPZ vs. BITO - Volatility Comparison

Franklin Crypto Index ETF (EZPZ) has a higher volatility of 14.00% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.89%. This indicates that EZPZ's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZPZ	BITO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.00%	12.89%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	39.76%	36.69%	+3.07%
Volatility (1Y) Calculated over the trailing 1-year period	48.54%	45.35%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.47%	55.79%	-6.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.47%	55.79%	-6.32%