OBTC vs. SOEZ

Last updated Apr 3, 2026

Compare and contrast key facts about Osprey Bitcoin Trust (OBTC) and Franklin Solana ETF (SOEZ).

OBTC and SOEZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OBTC is a passively managed fund by Osprey Funds that tracks the performance of the Bitcoin (BTC). It was launched on Feb 11, 2021. SOEZ is an actively managed fund by Franklin. It was launched on Dec 3, 2025.

Performance

OBTC vs. SOEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Osprey Bitcoin Trust (OBTC) and Franklin Solana ETF (SOEZ). The values are adjusted to include any dividend payments, if applicable.

OBTC vs. SOEZ - Yearly Performance Comparison

	2026 (YTD)	2025
OBTC Osprey Bitcoin Trust	-23.72%	0.19%
SOEZ Franklin Solana ETF	-35.58%	-11.97%

Returns By Period

In the year-to-date period, OBTC achieves a -23.72% return, which is significantly higher than SOEZ's -35.58% return.

OBTC

• 1D: -2.09%
• 1M: -2.08%
• YTD: -23.72%
• 6M: -40.32%
• 1Y: -17.31%
• 3Y*: 52.99%
• 5Y*: -1.35%
• 10Y*: —

SOEZ

• 1D: -5.73%
• 1M: -6.43%
• YTD: -35.58%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OBTC vs. SOEZ - Expense Ratio Comparison

OBTC has a 0.49% expense ratio, which is higher than SOEZ's 0.19% expense ratio.

OBTC

Osprey Bitcoin Trust

SOEZ

Franklin Solana ETF

Return for Risk

OBTC vs. SOEZ — Risk / Return Rank

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

OBTC

OBTC Risk / Return Rank: 6
OBTC Sharpe Ratio Rank: 5
OBTC Sortino Ratio Rank: 6
OBTC Omega Ratio Rank: 6
OBTC Calmar Ratio Rank: 5
OBTC Martin Ratio Rank: 5

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.

OBTC vs. SOEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osprey Bitcoin Trust (OBTC) and Franklin Solana ETF (SOEZ). 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.

	OBTC	SOEZ	Difference
Sharpe ratio Return per unit of total volatility	-0.38	—	—
Sortino ratio Return per unit of downside risk	-0.27	—	—
Omega ratio Gain probability vs. loss probability	0.97	—	—
Calmar ratio Return relative to maximum drawdown	-0.35	—	—
Martin ratio Return relative to average drawdown	-0.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OBTC	SOEZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.38	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.21	-1.06	+0.85

Correlation

The correlation between OBTC and SOEZ is 0.92, 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.

Dividends

OBTC vs. SOEZ - Dividend Comparison

OBTC has not paid dividends to shareholders, while SOEZ's dividend yield for the trailing twelve months is around 0.10%.

	TTM
OBTC Osprey Bitcoin Trust	0.00%
SOEZ Franklin Solana ETF	0.10%

Drawdowns

OBTC vs. SOEZ - Drawdown Comparison

The maximum OBTC drawdown since its inception was -94.50%, which is greater than SOEZ's maximum drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for OBTC and SOEZ.

Drawdown Indicators

	OBTC	SOEZ	Difference
Max Drawdown Largest peak-to-trough decline	-94.50%	-47.78%	-46.72%
Max Drawdown (1Y) Largest decline over 1 year	-45.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-86.89%	—	—
Current Drawdown Current decline from peak	-61.90%	-45.87%	-16.03%
Average Drawdown Average peak-to-trough decline	-70.05%	-25.55%	-44.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.72%	—	—

Volatility

Volatility by Period

	OBTC	SOEZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	45.60%	77.98%	-32.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.90%	77.98%	-18.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.44%	77.98%	-5.54%