OWNB vs. WGMI

Last updated Jul 15, 2026

OWNB (Bitwise Bitcoin Standard Corporations ETF) and WGMI (CoinShares Bitcoin Miners ETF) are both exchange-traded funds - OWNB is a Blockchain fund tracking the Bitwise Bitcoin Standard Corporations Inde, while WGMI is a Cryptocurrency fund actively managed by CoinShares. OWNB is passively managed, while WGMI is actively managed. Over the past year, OWNB returned -50.22% vs 104.26% for WGMI. A 0.79 correlation means they provide meaningful diversification when combined. OWNB charges 0.85%/yr vs 0.75%/yr for WGMI.

Performance

OWNB vs. WGMI - Performance Comparison

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

Returns By Period

In the year-to-date period, OWNB achieves a -17.12% return, which is significantly lower than WGMI's 36.48% return.

OWNB

• 1D: 2.87%
• 1M: -12.84%
• 6M: -29.13%
• YTD: -17.12%
• 1Y: -50.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -0.08%
• 1M: -20.83%
• 6M: 6.88%
• YTD: 36.48%
• 1Y: 104.26%
• 3Y*: 43.43%
• 5Y*: —
• 10Y*: —

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

OWNB vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025
OWNB Bitwise Bitcoin Standard Corporations ETF	-17.12%	-1.19%
WGMI CoinShares Bitcoin Miners ETF	36.48%	164.30%

Correlation

The correlation between OWNB and WGMI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025	0.79

The correlation between OWNB and WGMI has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

OWNB vs. WGMI - Sectors Allocation Comparison

Sectors	OWNB	WGMI
Financial Services	48.0%	50.9%
Technology	36.7%	45.2%
Consumer Cyclical	8.5%	-
Communication Services	5.2%	1.4%
Utilities	1.6%	2.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.5%
Real Estate	-	-

Return for Risk

OWNB vs. WGMI — Risk / Return Rank

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

OWNB

OWNB Risk / Return Rank: 3
OWNB Sharpe Ratio Rank: 3
OWNB Sortino Ratio Rank: 3
OWNB Omega Ratio Rank: 3
OWNB Calmar Ratio Rank: 2
OWNB Martin Ratio Rank: 2

WGMI

WGMI Risk / Return Rank: 45
WGMI Sharpe Ratio Rank: 49
WGMI Sortino Ratio Rank: 49
WGMI Omega Ratio Rank: 44
WGMI Calmar Ratio Rank: 51
WGMI Martin Ratio Rank: 34

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. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Standard Corporations ETF (OWNB) and CoinShares Bitcoin Miners ETF (WGMI). 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	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	1.35	-2.22
Sortino ratio: Return per unit of downside risk	-1.26	1.98	-3.24
Omega ratio: Gain probability vs. loss probability	0.87	1.23	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.85	2.06	-2.90
Martin ratio: Return relative to average drawdown	-1.33	4.09	-5.42

OWNB vs. WGMI - Sharpe Ratio Comparison

The current OWNB Sharpe Ratio is -0.86, which is lower than the WGMI Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of OWNB and WGMI, 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. WGMI - Drawdown Comparison

The maximum OWNB drawdown since its inception was -59.47%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for OWNB and WGMI.

Drawdown Indicators

	OWNB	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-59.47%	-85.76%	+26.29%
Max Drawdown (1Y) Largest decline over 1 year	-59.47%	-50.94%	-8.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-62.79%	—
Current Drawdown Current decline from peak	-53.30%	-27.56%	-25.74%
Average Drawdown Average peak-to-trough decline	-26.85%	-42.13%	+15.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.75%	25.56%	+12.19%

Volatility

OWNB vs. WGMI - Volatility Comparison

The current volatility for Bitwise Bitcoin Standard Corporations ETF (OWNB) is 15.01%, while CoinShares Bitcoin Miners ETF (WGMI) has a volatility of 20.72%. This indicates that OWNB experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWNB	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.01%	20.72%	-5.71%
Volatility (6M) Calculated over the trailing 6-month period	43.55%	56.03%	-12.48%
Volatility (1Y) Calculated over the trailing 1-year period	58.27%	77.51%	-19.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.16%	81.51%	-19.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.16%	81.51%	-19.35%

OWNB vs. WGMI - Expense Ratio Comparison

OWNB has a 0.85% expense ratio, which is higher than WGMI's 0.75% expense ratio.

Dividends

OWNB vs. WGMI - Dividend Comparison

OWNB's dividend yield for the trailing twelve months is around 1.05%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
OWNB Bitwise Bitcoin Standard Corporations ETF	1.05%	0.87%	0.00%	0.00%
WGMI CoinShares Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both OWNB and WGMI in my portfolio?

OWNB and WGMI have a correlation of 0.78, 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 WGMI?

WGMI has higher volatility (20.72%) compared to OWNB (15.01%). In terms of maximum drawdown, OWNB dropped -59.47% vs WGMI's -85.76%.

Which ETF is better, OWNB or WGMI?

On 1-year performance, WGMI leads with 104.26% vs -50.22% for OWNB. On fees, WGMI is cheaper at 0.75% per year. On volatility, OWNB has been the lower-risk option at 15.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OWNB or WGMI?

Over the 1-year period, WGMI has performed better with a 104.26% return vs -50.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OWNB or WGMI?

WGMI is cheaper with a 0.75% expense ratio, compared with 0.85% for OWNB.

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

OWNB has the higher dividend yield at 1.05%, compared with 0.00% for WGMI.

What is the main difference between OWNB and WGMI?

OWNB is categorized as Blockchain, while WGMI is Cryptocurrency. They also come from different issuers: Bitwise and CoinShares. Their fees differ too: 0.85% for OWNB and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (1.35 vs -0.86), 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.