OWNB vs. NODE

Last updated Jun 4, 2026

OWNB (Bitwise Bitcoin Standard Corporations ETF) and NODE (VanEck Onchain Economy ETF) are both Blockchain funds. OWNB is passively managed, while NODE is actively managed. Over the past year, OWNB returned -28.07% vs 71.73% for NODE. Their correlation of 0.87 suggests significant overlap in exposure. OWNB charges 0.85%/yr vs 0.69%/yr for NODE.

Performance

OWNB vs. NODE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Bitcoin Standard Corporations ETF (OWNB) and VanEck Onchain Economy ETF (NODE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWNB achieves a -1.56% return, which is significantly lower than NODE's 33.28% return.

OWNB

• 1D: -1.95%
• 1M: -2.79%
• YTD: -1.56%
• 6M: -18.67%
• 1Y: -28.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NODE

• 1D: -1.79%
• 1M: 10.04%
• YTD: 33.28%
• 6M: 21.22%
• 1Y: 71.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OWNB vs. NODE - Yearly Performance Comparison

	2026 (YTD)	2025
OWNB Bitwise Bitcoin Standard Corporations ETF	-1.56%	-23.33%
NODE VanEck Onchain Economy ETF	33.28%	32.44%

Correlation

The correlation between OWNB and NODE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 15, 2025	0.87

The correlation between OWNB and NODE has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

Return for Risk

OWNB vs. NODE — Risk / Return Rank

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

OWNB

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

NODE

NODE Risk / Return Rank: 41
NODE Sharpe Ratio Rank: 46
NODE Sortino Ratio Rank: 43
NODE Omega Ratio Rank: 41
NODE Calmar Ratio Rank: 42
NODE Martin Ratio Rank: 31

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.

OWNB vs. NODE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Standard Corporations ETF (OWNB) and VanEck Onchain Economy ETF (NODE). 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.

	OWNB	NODE	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	1.59	-2.08
Sortino ratio: Return per unit of downside risk	-0.41	2.12	-2.53
Omega ratio: Gain probability vs. loss probability	0.96	1.26	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.47	2.04	-2.51
Martin ratio: Return relative to average drawdown	-0.83	4.50	-5.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OWNB vs. NODE - Sharpe Ratio Comparison

The current OWNB Sharpe Ratio is -0.49, which is lower than the NODE Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of OWNB and NODE, 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

	OWNB	NODE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.49	1.59	-2.08
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	1.62	-1.68

Drawdowns

OWNB vs. NODE - Drawdown Comparison

The maximum OWNB drawdown since its inception was -59.47%, which is greater than NODE's maximum drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for OWNB and NODE.

Drawdown Indicators

	OWNB	NODE	Difference
Max Drawdown Largest peak-to-trough decline	-59.47%	-35.35%	-24.12%
Max Drawdown (1Y) Largest decline over 1 year	-59.47%	-35.35%	-24.12%
Current Drawdown Current decline from peak	-44.54%	-2.42%	-42.12%
Average Drawdown Average peak-to-trough decline	-24.89%	-11.30%	-13.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.96%	16.00%	+17.96%

Volatility

OWNB vs. NODE - Volatility Comparison

Bitwise Bitcoin Standard Corporations ETF (OWNB) has a higher volatility of 13.15% compared to VanEck Onchain Economy ETF (NODE) at 12.39%. This indicates that OWNB's price experiences larger fluctuations and is considered to be riskier than NODE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWNB	NODE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.15%	12.39%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	42.52%	34.83%	+7.69%
Volatility (1Y) Calculated over the trailing 1-year period	57.85%	45.44%	+12.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.36%	44.59%	+17.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.36%	44.59%	+17.77%

OWNB vs. NODE - Expense Ratio Comparison

OWNB has a 0.85% expense ratio, which is higher than NODE's 0.69% expense ratio.

Dividends

OWNB vs. NODE - Dividend Comparison

OWNB's dividend yield for the trailing twelve months is around 0.88%, more than NODE's 0.84% yield.

Position	TTM	2025
NODE VanEck Onchain Economy ETF	0.84%	1.12%
OWNB Bitwise Bitcoin Standard Corporations ETF	0.88%	0.87%

Frequently Asked Questions

Can I hold both OWNB and NODE in my portfolio?

OWNB and NODE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWNB or NODE?

OWNB has higher volatility (13.15%) compared to NODE (12.39%). In terms of maximum drawdown, OWNB dropped -59.47% vs NODE's -35.35%.

Which ETF is better, OWNB or NODE?

On 1-year performance, NODE leads with 71.73% vs -28.07% for OWNB. On fees, NODE is cheaper at 0.69% per year. On volatility, NODE has been the lower-risk option at 12.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OWNB or NODE?

Over the 1-year period, NODE has performed better with a 71.73% return vs -28.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OWNB or NODE?

NODE is cheaper with a 0.69% expense ratio, compared with 0.85% for OWNB.

Which ETF pays a higher dividend yield, OWNB or NODE?

OWNB has the higher dividend yield at 0.88%, compared with 0.84% for NODE.

What is the main difference between OWNB and NODE?

They also come from different issuers: Bitwise and VanEck. Their fees differ too: 0.85% for OWNB and 0.69% for NODE.

Which has better risk-adjusted returns?

NODE currently has the higher Sharpe Ratio (1.59 vs -0.49), 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.