OWNB vs. STCE

Last updated Jun 24, 2026

OWNB (Bitwise Bitcoin Standard Corporations ETF) and STCE (Schwab Crypto Thematic ETF) are both Blockchain funds - OWNB tracks the Bitwise Bitcoin Standard Corporations Inde while STCE tracks the Schwab Crypto Thematic Index. Both are passively managed. Over the past year, OWNB returned -34.38% vs 80.72% for STCE. Their correlation of 0.89 suggests significant overlap in exposure. OWNB charges 0.85%/yr vs 0.30%/yr for STCE.

Performance

OWNB vs. STCE - Performance Comparison

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

Returns By Period

In the year-to-date period, OWNB achieves a -9.32% return, which is significantly lower than STCE's 28.85% return.

OWNB

• 1D: -2.77%
• 1M: -11.48%
• YTD: -9.32%
• 6M: -15.24%
• 1Y: -34.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

STCE

• 1D: -2.15%
• 1M: 3.34%
• YTD: 28.85%
• 6M: 18.77%
• 1Y: 80.72%
• 3Y*: 54.83%
• 5Y*: —
• 10Y*: —

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

OWNB vs. STCE - Yearly Performance Comparison

	2026 (YTD)	2025
OWNB Bitwise Bitcoin Standard Corporations ETF	-9.32%	-1.19%
STCE Schwab Crypto Thematic ETF	28.85%	77.51%

Correlation

The correlation between OWNB and STCE is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025	0.89

The correlation between OWNB and STCE has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

OWNB vs. STCE - Sectors Allocation Comparison

Sectors	OWNB	STCE
Financial Services	48.0%	69.0%
Technology	36.7%	26.3%
Consumer Cyclical	8.5%	-
Communication Services	5.2%	4.7%
Utilities	1.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-

Return for Risk

OWNB vs. STCE — Risk / Return Rank

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

OWNB

OWNB Risk / Return Rank: 4
OWNB Sharpe Ratio Rank: 4
OWNB Sortino Ratio Rank: 5
OWNB Omega Ratio Rank: 5
OWNB Calmar Ratio Rank: 4
OWNB Martin Ratio Rank: 5

STCE

STCE Risk / Return Rank: 33
STCE Sharpe Ratio Rank: 39
STCE Sortino Ratio Rank: 38
STCE Omega Ratio Rank: 35
STCE Calmar Ratio Rank: 31
STCE 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.

OWNB vs. STCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Standard Corporations ETF (OWNB) and Schwab Crypto Thematic ETF (STCE). 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.

	OWNB	STCE	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	1.31	-1.90
Sortino ratio: Return per unit of downside risk	-0.62	1.90	-2.52
Omega ratio: Gain probability vs. loss probability	0.93	1.23	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.58	1.50	-2.08
Martin ratio: Return relative to average drawdown	-0.97	2.65	-3.62

OWNB vs. STCE - Sharpe Ratio Comparison

The current OWNB Sharpe Ratio is -0.59, which is lower than the STCE Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of OWNB and STCE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OWNB vs. STCE - Drawdown Comparison

The maximum OWNB drawdown since its inception was -59.47%, which is greater than STCE's maximum drawdown of -54.11%. Use the drawdown chart below to compare losses from any high point for OWNB and STCE.

Drawdown Indicators

	OWNB	STCE	Difference
Max Drawdown Largest peak-to-trough decline	-59.47%	-54.11%	-5.36%
Max Drawdown (1Y) Largest decline over 1 year	-59.47%	-54.11%	-5.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-54.11%	—
Current Drawdown Current decline from peak	-48.91%	-27.40%	-21.51%
Average Drawdown Average peak-to-trough decline	-25.71%	-22.05%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.62%	30.56%	+5.06%

Volatility

OWNB vs. STCE - Volatility Comparison

Bitwise Bitcoin Standard Corporations ETF (OWNB) and Schwab Crypto Thematic ETF (STCE) have volatilities of 15.85% and 16.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWNB	STCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.85%	16.59%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	43.46%	42.95%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	58.05%	62.01%	-3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.38%	56.01%	+6.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.38%	56.01%	+6.37%

OWNB vs. STCE - Expense Ratio Comparison

OWNB has a 0.85% expense ratio, which is higher than STCE's 0.30% expense ratio.

Dividends

OWNB vs. STCE - Dividend Comparison

OWNB's dividend yield for the trailing twelve months is around 0.96%, less than STCE's 1.52% yield.

Position	TTM	2025	2024	2023	2022
OWNB Bitwise Bitcoin Standard Corporations ETF	0.96%	0.87%	0.00%	0.00%	0.00%
STCE Schwab Crypto Thematic ETF	1.52%	1.96%	0.64%	0.31%	1.46%

Frequently Asked Questions

Can I hold both OWNB and STCE in my portfolio?

With a correlation of 0.90, OWNB and STCE 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.

Which is riskier, OWNB or STCE?

STCE has higher volatility (16.59%) compared to OWNB (15.85%). In terms of maximum drawdown, OWNB dropped -59.47% vs STCE's -54.11%.

Which ETF is better, OWNB or STCE?

On 1-year performance, STCE leads with 80.72% vs -34.38% for OWNB. On fees, STCE is cheaper at 0.30% per year. On volatility, OWNB has been the lower-risk option at 15.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OWNB or STCE?

Over the 1-year period, STCE has performed better with a 80.72% return vs -34.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OWNB or STCE?

STCE is cheaper with a 0.30% expense ratio, compared with 0.85% for OWNB.

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

STCE has the higher dividend yield at 1.52%, compared with 0.96% for OWNB.

What is the main difference between OWNB and STCE?

OWNB tracks Bitwise Bitcoin Standard Corporations Inde, while STCE tracks Schwab Crypto Thematic Index. They also come from different issuers: Bitwise and Charles Schwab. Their fees differ too: 0.85% for OWNB and 0.30% for STCE.

Which has better risk-adjusted returns?

STCE currently has the higher Sharpe Ratio (1.31 vs -0.59), 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.