INDF vs. BITQ

Last updated Jun 4, 2026

INDF (Nifty India Financials ETF) and BITQ (Bitwise Crypto Industry Innovators ETF) are both exchange-traded funds - INDF is a Financials Equities fund tracking the Nifty Financial Services 25/50 Index, while BITQ is a Technology Equities fund tracking the Bitwise Crypto Innovators 30 Total Return. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. INDF charges 0.75%/yr vs 0.85%/yr for BITQ.

Performance

INDF vs. BITQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nifty India Financials ETF (INDF) and Bitwise Crypto Industry Innovators ETF (BITQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

INDF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITQ

• 1D: -2.21%
• 1M: 11.04%
• YTD: 39.79%
• 6M: 21.39%
• 1Y: 60.30%
• 3Y*: 58.56%
• 5Y*: 5.19%
• 10Y*: —

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

INDF vs. BITQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
INDF Nifty India Financials ETF	0.00%	8.17%	6.32%	19.86%	-5.28%	11.05%
BITQ Bitwise Crypto Industry Innovators ETF	39.79%	18.00%	46.97%	246.83%	-83.86%	-7.06%

Correlation

The correlation between INDF and BITQ 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 (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since May 13, 2021	0.30

Over the past year, the correlation between INDF and BITQ has dropped to 0.04 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

INDF vs. BITQ - Sectors Allocation Comparison

Sectors	INDF	BITQ
Financial Services	100.0%	67.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	4.8%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	28.1%
Utilities	-	-

Return for Risk

INDF vs. BITQ — Risk / Return Rank

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

BITQ

BITQ Risk / Return Rank: 28
BITQ Sharpe Ratio Rank: 29
BITQ Sortino Ratio Rank: 31
BITQ Omega Ratio Rank: 29
BITQ Calmar Ratio Rank: 27
BITQ Martin Ratio Rank: 22

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.

INDF vs. BITQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nifty India Financials ETF (INDF) 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.

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

Sharpe Ratios by Period

	INDF	BITQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.08	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.07	—

Drawdowns

Drawdown Indicators

	INDF	BITQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-90.32%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-44.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-51.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.32%	—
Current Drawdown Current decline from peak	—	-14.06%	—
Average Drawdown Average peak-to-trough decline	—	-52.80%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	21.32%	—

Volatility

Volatility by Period

	INDF	BITQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	42.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	56.05%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	67.17%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	67.23%	—

INDF vs. BITQ - Expense Ratio Comparison

INDF has a 0.75% expense ratio, which is lower than BITQ's 0.85% expense ratio.

Dividends

INDF vs. BITQ - Dividend Comparison

INDF's dividend yield for the trailing twelve months is around 21.29%, while BITQ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%

Frequently Asked Questions

Can I hold both INDF and BITQ in my portfolio?

INDF and BITQ 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, INDF or BITQ?

On fees, INDF is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INDF or BITQ?

INDF is cheaper with a 0.75% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, INDF or BITQ?

INDF has the higher dividend yield at 21.29%, compared with 0.00% for BITQ.

What is the main difference between INDF and BITQ?

INDF is categorized as Financials Equities, while BITQ is Technology Equities. INDF tracks Nifty Financial Services 25/50 Index, while BITQ tracks Bitwise Crypto Innovators 30 Total Return. Their fees differ too: 0.75% for INDF and 0.85% for BITQ.