EZPZ vs. BTOP

Last updated Jun 6, 2026

EZPZ (Franklin Crypto Index ETF) and BTOP (Bitwise Bitcoin And Ether Equal Weight Strategy ETF) are both Cryptocurrency funds. EZPZ is passively managed, while BTOP is actively managed. Over the past year, EZPZ returned -42.21% vs -10.61% for BTOP. A 0.53 correlation means they provide meaningful diversification when combined. EZPZ charges 0.19%/yr vs 0.90%/yr for BTOP.

Performance

EZPZ vs. BTOP - Performance Comparison

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

Returns By Period

In the year-to-date period, EZPZ achieves a -34.43% return, which is significantly lower than BTOP's -0.19% return.

EZPZ

• 1D: -6.18%
• 1M: -26.82%
• YTD: -34.43%
• 6M: -36.79%
• 1Y: -42.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTOP

• 1D: 0.00%
• 1M: -7.75%
• YTD: -0.19%
• 6M: -3.62%
• 1Y: -10.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EZPZ vs. BTOP - Yearly Performance Comparison

	2026 (YTD)	2025
EZPZ Franklin Crypto Index ETF	-34.43%	-10.23%
BTOP Bitwise Bitcoin And Ether Equal Weight Strategy ETF	-0.19%	3.79%

Correlation

The correlation between EZPZ and BTOP is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.53

The correlation between EZPZ and BTOP has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

Return for Risk

EZPZ vs. BTOP — Risk / Return Rank

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

EZPZ

EZPZ Risk / Return Rank: 2
EZPZ Sharpe Ratio Rank: 2
EZPZ Sortino Ratio Rank: 2
EZPZ Omega Ratio Rank: 2
EZPZ Calmar Ratio Rank: 3
EZPZ Martin Ratio Rank: 2

BTOP

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

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. BTOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Crypto Index ETF (EZPZ) and Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP). 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	BTOP	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	-0.42	-0.48
Sortino ratio: Return per unit of downside risk	-1.25	-0.41	-0.85
Omega ratio: Gain probability vs. loss probability	0.86	0.94	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.44	-0.32
Martin ratio: Return relative to average drawdown	-1.37	-0.63	-0.74
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. BTOP - Sharpe Ratio Comparison

The current EZPZ Sharpe Ratio is -0.90, which is lower than the BTOP Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of EZPZ and BTOP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EZPZ	BTOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	-0.42	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	-0.71	0.61	-1.32

Drawdowns

EZPZ vs. BTOP - Drawdown Comparison

The maximum EZPZ drawdown since its inception was -55.78%, which is greater than BTOP's maximum drawdown of -43.37%. Use the drawdown chart below to compare losses from any high point for EZPZ and BTOP.

Drawdown Indicators

	EZPZ	BTOP	Difference
Max Drawdown Largest peak-to-trough decline	-55.78%	-43.37%	-12.41%
Max Drawdown (1Y) Largest decline over 1 year	-55.78%	-31.35%	-24.43%
Current Drawdown Current decline from peak	-55.78%	-29.59%	-26.19%
Average Drawdown Average peak-to-trough decline	-21.92%	-19.28%	-2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.82%	21.91%	+8.91%

Volatility

EZPZ vs. BTOP - Volatility Comparison

Franklin Crypto Index ETF (EZPZ) has a higher volatility of 10.69% compared to Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) at 7.72%. This indicates that EZPZ's price experiences larger fluctuations and is considered to be riskier than BTOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZPZ	BTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.69%	7.72%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	36.53%	23.63%	+12.90%
Volatility (1Y) Calculated over the trailing 1-year period	47.23%	32.72%	+14.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.86%	46.22%	+1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.86%	46.22%	+1.64%

EZPZ vs. BTOP - Expense Ratio Comparison

EZPZ has a 0.19% expense ratio, which is lower than BTOP's 0.90% expense ratio.

Dividends

EZPZ vs. BTOP - Dividend Comparison

EZPZ has not paid dividends to shareholders, while BTOP's dividend yield for the trailing twelve months is around 2.39%.

Position	TTM	2025	2024	2023
BTOP Bitwise Bitcoin And Ether Equal Weight Strategy ETF	2.39%	2.38%	59.44%	5.82%
EZPZ Franklin Crypto Index ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZPZ and BTOP in my portfolio?

EZPZ and BTOP have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZPZ or BTOP?

EZPZ has higher volatility (10.69%) compared to BTOP (7.72%). In terms of maximum drawdown, EZPZ dropped -55.78% vs BTOP's -43.37%.

Which ETF is better, EZPZ or BTOP?

On 1-year performance, BTOP leads with -10.61% vs -42.21% for EZPZ. On fees, EZPZ is cheaper at 0.19% per year. On volatility, BTOP has been the lower-risk option at 7.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZPZ or BTOP?

Over the 1-year period, BTOP has performed better with a -10.61% return vs -42.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZPZ or BTOP?

EZPZ is cheaper with a 0.19% expense ratio, compared with 0.90% for BTOP.

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

BTOP has the higher dividend yield at 2.39%, compared with 0.00% for EZPZ.

What is the main difference between EZPZ and BTOP?

They also come from different issuers: Franklin Templeton and Bitwise. Their fees differ too: 0.19% for EZPZ and 0.90% for BTOP.

Which has better risk-adjusted returns?

BTOP currently has the higher Sharpe Ratio (-0.42 vs -0.90), 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.