GFOF vs. BITQ
Compare and contrast key facts about Grayscale Future of Finance ETF (GFOF) and Bitwise Crypto Industry Innovators ETF (BITQ).
GFOF and BITQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GFOF is a passively managed fund by Grayscale that tracks the performance of the Bloomberg Grayscale Future of Finance Index. It was launched on Feb 1, 2022. BITQ is a passively managed fund by Exchange Traded Concepts that tracks the performance of the Bitwise Crypto Innovators 30 Total Return. It was launched on May 11, 2021. Both GFOF and BITQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GFOF or BITQ.
Key characteristics
| GFOF | BITQ | |
|---|---|---|
| YTD Return | -10.50% | -5.35% |
| 1Y Return | 54.14% | 79.49% |
| Sharpe Ratio | 0.96 | 1.23 |
| Daily Std Dev | 57.96% | 65.95% |
| Max Drawdown | -75.18% | -90.32% |
| Current Drawdown | -42.50% | -66.45% |
Correlation
The correlation between GFOF and BITQ is 0.97, 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.
Performance
GFOF vs. BITQ - Performance Comparison
In the year-to-date period, GFOF achieves a -10.50% return, which is significantly lower than BITQ's -5.35% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GFOF vs. BITQ - Expense Ratio Comparison
GFOF has a 0.70% expense ratio, which is lower than BITQ's 0.85% expense ratio.
Risk-Adjusted Performance
GFOF vs. BITQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Future of Finance ETF (GFOF) and Bitwise Crypto Industry Innovators ETF (BITQ). 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.
Dividends
GFOF vs. BITQ - Dividend Comparison
GFOF's dividend yield for the trailing twelve months is around 4.55%, more than BITQ's 1.60% yield.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
GFOF Grayscale Future of Finance ETF | 4.55% | 4.08% | 0.00% | 0.00% |
BITQ Bitwise Crypto Industry Innovators ETF | 1.60% | 1.51% | 0.00% | 3.12% |
Drawdowns
GFOF vs. BITQ - Drawdown Comparison
The maximum GFOF drawdown since its inception was -75.18%, smaller than the maximum BITQ drawdown of -90.32%. Use the drawdown chart below to compare losses from any high point for GFOF and BITQ. For additional features, visit the drawdowns tool.
Volatility
GFOF vs. BITQ - Volatility Comparison
The current volatility for Grayscale Future of Finance ETF (GFOF) is 14.86%, while Bitwise Crypto Industry Innovators ETF (BITQ) has a volatility of 17.19%. This indicates that GFOF experiences smaller price fluctuations and is considered to be less risky than BITQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.