SATO vs. BITO
Compare and contrast key facts about Invesco Alerian Galaxy Crypto Economy ETF (SATO) and ProShares Bitcoin Strategy ETF (BITO).
SATO and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SATO is a passively managed fund by Invesco that tracks the performance of the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index. It was launched on Oct 7, 2021. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SATO or BITO.
Key characteristics
| SATO | BITO | |
|---|---|---|
| YTD Return | 65.29% | 100.91% |
| 1Y Return | 191.62% | 125.13% |
| 3Y Return (Ann) | -8.54% | 6.57% |
| Sharpe Ratio | 2.73 | 2.09 |
| Sortino Ratio | 3.13 | 2.69 |
| Omega Ratio | 1.36 | 1.31 |
| Calmar Ratio | 2.46 | 2.37 |
| Martin Ratio | 10.01 | 8.99 |
| Ulcer Index | 18.23% | 13.51% |
| Daily Std Dev | 66.90% | 58.19% |
| Max Drawdown | -88.01% | -77.86% |
| Current Drawdown | -24.58% | 0.00% |
Correlation
The correlation between SATO and BITO is 0.78, 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.
Performance
SATO vs. BITO - Performance Comparison
In the year-to-date period, SATO achieves a 65.29% return, which is significantly lower than BITO's 100.91% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SATO vs. BITO - Expense Ratio Comparison
SATO has a 0.60% expense ratio, which is lower than BITO's 0.95% expense ratio.
Risk-Adjusted Performance
SATO vs. BITO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) and ProShares Bitcoin Strategy ETF (BITO). 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.
Dividends
SATO vs. BITO - Dividend Comparison
SATO's dividend yield for the trailing twelve months is around 1.83%, less than BITO's 50.41% yield.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
SATO Invesco Alerian Galaxy Crypto Economy ETF | 1.83% | 2.22% | 8.99% | 0.73% |
BITO ProShares Bitcoin Strategy ETF | 50.41% | 15.14% | 0.00% | 0.00% |
Drawdowns
SATO vs. BITO - Drawdown Comparison
The maximum SATO drawdown since its inception was -88.01%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for SATO and BITO. For additional features, visit the drawdowns tool.
Volatility
SATO vs. BITO - Volatility Comparison
Invesco Alerian Galaxy Crypto Economy ETF (SATO) has a higher volatility of 23.65% compared to ProShares Bitcoin Strategy ETF (BITO) at 17.98%. This indicates that SATO's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.