FTMA vs. EZBC

Last updated Jun 4, 2026

FTMA (Franklin Massachusetts Municipal Income ETF) and EZBC (Franklin Bitcoin ETF) are both exchange-traded funds - FTMA is a Municipal Bonds fund tracking the Actively Managed, while EZBC is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. At a 0.04 correlation, their price movements are largely independent. FTMA charges 0.35%/yr vs 0.19%/yr for EZBC.

Performance

FTMA vs. EZBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Massachusetts Municipal Income ETF (FTMA) and Franklin Bitcoin ETF (EZBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMA achieves a 2.06% return, which is significantly higher than EZBC's -25.36% return.

FTMA

• 1D: -0.06%
• 1M: 0.80%
• YTD: 2.06%
• 6M: 2.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EZBC

• 1D: -2.73%
• 1M: -18.42%
• YTD: -25.36%
• 6M: -29.82%
• 1Y: -38.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTMA vs. EZBC - Yearly Performance Comparison

	2026 (YTD)	2025
FTMA Franklin Massachusetts Municipal Income ETF	2.06%	0.43%
EZBC Franklin Bitcoin ETF	-25.36%	-17.55%

Correlation

The correlation between FTMA and EZBC is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 11, 2025	0.04

Return for Risk

FTMA vs. EZBC — Risk / Return Rank

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

EZBC

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

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.

FTMA vs. EZBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Massachusetts Municipal Income ETF (FTMA) and Franklin Bitcoin ETF (EZBC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FTMA	EZBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	0.30	+0.99

Drawdowns

FTMA vs. EZBC - Drawdown Comparison

The maximum FTMA drawdown since its inception was -2.27%, smaller than the maximum EZBC drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for FTMA and EZBC.

Drawdown Indicators

	FTMA	EZBC	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-49.37%	+47.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-49.37%	—
Current Drawdown Current decline from peak	-0.06%	-48.04%	+47.98%
Average Drawdown Average peak-to-trough decline	-0.51%	-16.01%	+15.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.42%	—

Volatility

Volatility by Period

	FTMA	EZBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	43.67%	-40.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	50.06%	-46.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	50.06%	-46.54%

FTMA vs. EZBC - Expense Ratio Comparison

FTMA has a 0.35% expense ratio, which is higher than EZBC's 0.19% expense ratio.

Dividends

FTMA vs. EZBC - Dividend Comparison

FTMA's dividend yield for the trailing twelve months is around 1.96%, while EZBC has not paid dividends to shareholders.

Position	TTM	2025
EZBC Franklin Bitcoin ETF	0.00%	0.00%
FTMA Franklin Massachusetts Municipal Income ETF	1.96%	0.54%

Frequently Asked Questions

Can I hold both FTMA and EZBC in my portfolio?

FTMA and EZBC have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMA or EZBC?

On fees, EZBC is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMA or EZBC?

EZBC is cheaper with a 0.19% expense ratio, compared with 0.35% for FTMA.

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

FTMA has the higher dividend yield at 1.96%, compared with 0.00% for EZBC.

What is the main difference between FTMA and EZBC?

FTMA is categorized as Municipal Bonds, while EZBC is Cryptocurrency. FTMA tracks Actively Managed, while EZBC tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.35% for FTMA and 0.19% for EZBC.