HBTC vs. QBF
HBTC (Fortuna Hedged Bitcoin ETF) and QBF (Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly) are both Blockchain funds. Both are actively managed. Over the past year, HBTC returned -34.86% vs -42.47% for QBF. Their correlation of 0.93 means they have usually moved in the same direction. HBTC charges 1.75%/yr vs 0.79%/yr for QBF.
Performance
HBTC vs. QBF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HBTC achieves a -22.91% return, which is significantly higher than QBF's -28.48% return.
HBTC
- 1D
- -2.53%
- 1M
- -0.25%
- 6M
- -19.07%
- YTD
- -22.91%
- 1Y
- -34.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -16.63%
QBF
- 1D
- -1.89%
- 1M
- 1.51%
- 6M
- -25.66%
- YTD
- -28.48%
- 1Y
- -42.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -28.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $620.05 | $1.99K | $5.81K | |
| $57.51K | $91.87K | $133.71K |
HBTC vs. QBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBTC Fortuna Hedged Bitcoin ETF | -22.91% | 1.18% |
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | -28.48% | -0.69% |
Correlation
The correlation between HBTC and QBF 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 Mar 19, 2025 | 0.93 |
The correlation between HBTC and QBF has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HBTC vs. QBF — Risk / Return Rank
HBTC
QBF
HBTC vs. QBF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fortuna Hedged Bitcoin ETF (HBTC) and Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF). 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.
| HBTC | QBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.73 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.90 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.44 | -1.45 | +0.01 |
Loading charts...
Drawdowns
HBTC vs. QBF - Drawdown Comparison
The maximum HBTC drawdown since its inception was -40.45%, smaller than the maximum QBF drawdown of -48.71%. Use the drawdown chart below to compare losses from any high point for HBTC and QBF.
Loading charts...
Drawdown Indicators
| HBTC | QBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.45% | -48.71% | +8.26% |
Max Drawdown (1Y)Largest decline over 1 year | -40.45% | -48.71% | +8.26% |
Current DrawdownCurrent decline from peak | -39.12% | -46.54% | +7.42% |
Average DrawdownAverage peak-to-trough decline | -17.14% | -19.89% | +2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.22% | 30.27% | -5.05% |
Volatility
HBTC vs. QBF - Volatility Comparison
Fortuna Hedged Bitcoin ETF (HBTC) has a higher volatility of 7.39% compared to Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF) at 6.30%. This indicates that HBTC's price experiences larger fluctuations and is considered to be riskier than QBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HBTC | QBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 6.30% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 18.26% | 19.72% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.00% | 27.26% | +0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.62% | 28.70% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.62% | 28.70% | -0.08% |
HBTC vs. QBF - Expense Ratio Comparison
HBTC has a 1.75% expense ratio, which is higher than QBF's 0.79% expense ratio.
Dividends
HBTC vs. QBF - Dividend Comparison
HBTC's dividend yield for the trailing twelve months is around 14.21%, more than QBF's 1.93% yield.
| Position | TTM | 2025 |
|---|---|---|
HBTC Fortuna Hedged Bitcoin ETF | 14.21% | 10.96% |
QBF Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly | 1.93% | 1.38% |
Frequently Asked Questions
With a correlation of 0.91, HBTC and QBF 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.
HBTC has higher volatility (7.39%) compared to QBF (6.30%). In terms of maximum drawdown, HBTC dropped -40.45% vs QBF's -48.71%.
On 1-year performance, HBTC leads with -34.86% vs -42.47% for QBF. On fees, QBF is cheaper at 0.79% per year. On volatility, QBF has been the lower-risk option at 6.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HBTC has performed better with a -34.86% return vs -42.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QBF is cheaper with a 0.79% expense ratio, compared with 1.75% for HBTC.
HBTC has the higher dividend yield at 14.21%, compared with 1.93% for QBF.
They also come from different issuers: Fortuna Funds and Innovator. Their fees differ too: 1.75% for HBTC and 0.79% for QBF.
HBTC currently has the higher Sharpe Ratio (-1.30 vs -1.62), 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.
Find the right allocation for HBTC and QBF
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer