SATO vs. BITQ
SATO (Invesco Alerian Galaxy Crypto Economy ETF) and BITQ (Bitwise Crypto Industry Innovators ETF) are both exchange-traded funds - SATO is a Cryptocurrency fund tracking the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index, while BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index. Both are passively managed. Over the past 3 years, SATO returned 37.72%/yr vs 53.03%/yr for BITQ. With a 0.97 correlation, they move nearly in lockstep. SATO charges 0.60%/yr vs 0.85%/yr for BITQ.
Performance
SATO vs. BITQ - Performance Comparison
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Returns By Period
In the year-to-date period, SATO achieves a 0.09% return, which is significantly lower than BITQ's 34.62% return.
SATO
- 1D
- -2.97%
- 1M
- -5.75%
- YTD
- 0.09%
- 6M
- -5.06%
- 1Y
- 8.50%
- 3Y*
- 37.72%
- 5Y*
- —
- 10Y*
- —
BITQ
- 1D
- -2.61%
- 1M
- 0.04%
- YTD
- 34.62%
- 6M
- 25.61%
- 1Y
- 49.39%
- 3Y*
- 53.03%
- 5Y*
- 4.41%
- 10Y*
- —
SATO vs. BITQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SATO Invesco Alerian Galaxy Crypto Economy ETF | 0.09% | 2.26% | 55.25% | 266.77% | -80.20% | -17.33% |
BITQ Bitwise Crypto Industry Innovators ETF | 34.62% | 18.00% | 46.97% | 246.83% | -83.86% | -10.39% |
Correlation
The correlation between SATO and BITQ is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021 | 0.97 |
The correlation between SATO and BITQ has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
SATO vs. BITQ — Risk / Return Rank
SATO
BITQ
SATO vs. BITQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Bitwise Crypto Industry Innovators ETF (BITQ). 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.
| SATO | BITQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.17 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 1.10 | -0.94 |
| Martin ratioReturn relative to average drawdown | 0.28 | 2.30 | -2.02 |
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Drawdowns
SATO vs. BITQ - Drawdown Comparison
The maximum SATO drawdown since its inception was -88.00%, roughly equal to the maximum BITQ drawdown of -90.32%. Use the drawdown chart below to compare losses from any high point for SATO and BITQ.
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Drawdown Indicators
| SATO | BITQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.00% | -90.32% | +2.32% |
Max Drawdown (1Y)Largest decline over 1 year | -53.49% | -44.99% | -8.50% |
Max Drawdown (3Y)Largest decline over 3 years | -53.49% | -51.22% | -2.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.32% | — |
Current DrawdownCurrent decline from peak | -38.67% | -17.24% | -21.43% |
Average DrawdownAverage peak-to-trough decline | -50.82% | -52.52% | +1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.44% | 21.50% | +8.94% |
Volatility
SATO vs. BITQ - Volatility Comparison
The current volatility for Invesco Alerian Galaxy Crypto Economy ETF (SATO) is 13.50%, while Bitwise Crypto Industry Innovators ETF (BITQ) has a volatility of 16.45%. This indicates that SATO experiences smaller price fluctuations and is considered to be less risky than BITQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SATO | BITQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.50% | 16.45% | -2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 38.64% | 43.05% | -4.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.11% | 56.94% | -4.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.17% | 67.32% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.17% | 67.24% | -4.07% |
SATO vs. BITQ - Expense Ratio Comparison
SATO has a 0.60% expense ratio, which is lower than BITQ's 0.85% expense ratio.
Dividends
SATO vs. BITQ - Dividend Comparison
SATO's dividend yield for the trailing twelve months is around 6.70%, while BITQ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 0.00% | 0.00% | 0.90% | 1.51% | 0.00% | 3.12% |
SATO Invesco Alerian Galaxy Crypto Economy ETF | 6.70% | 9.50% | 15.03% | 2.21% | 8.97% | 0.73% |
Frequently Asked Questions
With a correlation of 0.93, SATO and BITQ 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.
BITQ has higher volatility (16.45%) compared to SATO (13.50%). In terms of maximum drawdown, SATO dropped -88.00% vs BITQ's -90.32%.
On 3-year performance, BITQ leads with 53.03% vs 37.72% for SATO. On fees, SATO is cheaper at 0.60% per year. On volatility, SATO has been the lower-risk option at 13.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITQ has performed better with a 53.03% return vs 37.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SATO is cheaper with a 0.60% expense ratio, compared with 0.85% for BITQ.
SATO has the higher dividend yield at 6.70%, compared with 0.00% for BITQ.
SATO is categorized as Cryptocurrency, while BITQ is Blockchain. SATO tracks Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index, while BITQ tracks Bitwise Crypto Innovators 30 Index. They also come from different issuers: Invesco and Bitwise. Their fees differ too: 0.60% for SATO and 0.85% for BITQ.
BITQ currently has the higher Sharpe Ratio (0.87 vs 0.16), 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.
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