MUSQ vs. BITQ

Last updated Jun 5, 2026

MUSQ (MUSQ Global Music Industry Index ETF) and BITQ (Bitwise Crypto Industry Innovators ETF) are both exchange-traded funds - MUSQ is a Communications Equities fund tracking the MUSQ Global Music Industry Index, while BITQ is a Technology Equities fund tracking the Bitwise Crypto Innovators 30 Total Return. Both are passively managed. Over the past year, MUSQ returned -5.67% vs 53.75% for BITQ. At a 0.49 correlation, their price movements are largely independent. MUSQ charges 0.76%/yr vs 0.85%/yr for BITQ.

Performance

MUSQ vs. BITQ - Performance Comparison

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

Returns By Period

In the year-to-date period, MUSQ achieves a -8.93% return, which is significantly lower than BITQ's 37.93% return.

MUSQ

• 1D: -0.00%
• 1M: 0.63%
• YTD: -8.93%
• 6M: -6.57%
• 1Y: -5.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITQ

• 1D: -1.33%
• 1M: 4.84%
• YTD: 37.93%
• 6M: 16.04%
• 1Y: 53.75%
• 3Y*: 60.76%
• 5Y*: 4.91%
• 10Y*: —

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

MUSQ vs. BITQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MUSQ MUSQ Global Music Industry Index ETF	-8.93%	19.60%	-4.94%	1.76%
BITQ Bitwise Crypto Industry Innovators ETF	37.93%	18.00%	46.97%	27.38%

Correlation

The correlation between MUSQ and BITQ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 10, 2023	0.49

MUSQ vs. BITQ - Sectors Allocation Comparison

Sectors	MUSQ	BITQ
Communication Services	76.9%	-
Consumer Cyclical	12.1%	4.8%
Technology	10.3%	28.1%
Industrials	0.7%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	67.1%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MUSQ vs. BITQ — Risk / Return Rank

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

MUSQ

MUSQ Risk / Return Rank: 6
MUSQ Sharpe Ratio Rank: 6
MUSQ Sortino Ratio Rank: 6
MUSQ Omega Ratio Rank: 6
MUSQ Calmar Ratio Rank: 7
MUSQ Martin Ratio Rank: 6

BITQ

BITQ Risk / Return Rank: 27
BITQ Sharpe Ratio Rank: 28
BITQ Sortino Ratio Rank: 30
BITQ Omega Ratio Rank: 28
BITQ Calmar Ratio Rank: 26
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.

MUSQ vs. BITQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MUSQ Global Music Industry Index ETF (MUSQ) 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.

	MUSQ	BITQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	0.97	-1.31
Sortino ratio: Return per unit of downside risk	-0.37	1.57	-1.94
Omega ratio: Gain probability vs. loss probability	0.96	1.18	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.25	1.20	-1.45
Martin ratio: Return relative to average drawdown	-0.60	2.53	-3.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUSQ vs. BITQ - Sharpe Ratio Comparison

The current MUSQ Sharpe Ratio is -0.34, which is lower than the BITQ Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of MUSQ and BITQ, 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

	MUSQ	BITQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	0.97	-1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.07	+0.04

Drawdowns

MUSQ vs. BITQ - Drawdown Comparison

The maximum MUSQ drawdown since its inception was -23.11%, smaller than the maximum BITQ drawdown of -90.32%. Use the drawdown chart below to compare losses from any high point for MUSQ and BITQ.

Drawdown Indicators

	MUSQ	BITQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.11%	-90.32%	+67.21%
Max Drawdown (1Y) Largest decline over 1 year	-23.11%	-44.99%	+21.88%
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	-15.04%	-15.21%	+0.17%
Average Drawdown Average peak-to-trough decline	-6.59%	-52.77%	+46.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.47%	21.33%	-11.86%

Volatility

MUSQ vs. BITQ - Volatility Comparison

The current volatility for MUSQ Global Music Industry Index ETF (MUSQ) is 4.84%, while Bitwise Crypto Industry Innovators ETF (BITQ) has a volatility of 14.24%. This indicates that MUSQ 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.

Volatility by Period

	MUSQ	BITQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.84%	14.24%	-9.40%
Volatility (6M) Calculated over the trailing 6-month period	13.17%	42.58%	-29.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	55.93%	-39.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	67.18%	-49.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.85%	67.21%	-49.36%

MUSQ vs. BITQ - Expense Ratio Comparison

MUSQ has a 0.76% expense ratio, which is lower than BITQ's 0.85% expense ratio.

Dividends

MUSQ vs. BITQ - Dividend Comparison

MUSQ's dividend yield for the trailing twelve months is around 0.69%, 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%
MUSQ MUSQ Global Music Industry Index ETF	0.69%	0.63%	1.08%	0.74%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUSQ and BITQ in my portfolio?

MUSQ and BITQ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUSQ or BITQ?

BITQ has higher volatility (14.24%) compared to MUSQ (4.84%). In terms of maximum drawdown, MUSQ dropped -23.11% vs BITQ's -90.32%.

Which ETF is better, MUSQ or BITQ?

On 1-year performance, BITQ leads with 53.75% vs -5.67% for MUSQ. On fees, MUSQ is cheaper at 0.76% per year. On volatility, MUSQ has been the lower-risk option at 4.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUSQ or BITQ?

Over the 1-year period, BITQ has performed better with a 53.75% return vs -5.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUSQ or BITQ?

MUSQ is cheaper with a 0.76% expense ratio, compared with 0.85% for BITQ.

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

MUSQ has the higher dividend yield at 0.69%, compared with 0.00% for BITQ.

What is the main difference between MUSQ and BITQ?

MUSQ is categorized as Communications Equities, while BITQ is Technology Equities. MUSQ tracks MUSQ Global Music Industry Index, while BITQ tracks Bitwise Crypto Innovators 30 Total Return. Their fees differ too: 0.76% for MUSQ and 0.85% for BITQ.

Which has better risk-adjusted returns?

BITQ currently has the higher Sharpe Ratio (0.97 vs -0.34), 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.