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 20.64%/yr vs 30.63%/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 -11.75% return, which is significantly lower than BITQ's 16.31% return.
SATO
- 1D
- -3.36%
- 1M
- -10.88%
- 6M
- -23.63%
- YTD
- -11.75%
- 1Y
- -22.30%
- 3Y*
- 20.64%
- 5Y*
- —
- 10Y*
- —
BITQ
- 1D
- -3.13%
- 1M
- -13.44%
- 6M
- 0.39%
- YTD
- 16.31%
- 1Y
- 12.14%
- 3Y*
- 30.63%
- 5Y*
- 3.43%
- 10Y*
- —
SATO vs. BITQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SATO Invesco Alerian Galaxy Crypto Economy ETF | -11.75% | 2.26% | 55.25% | 266.77% | -80.20% | -17.33% |
BITQ Bitwise Crypto Industry Innovators ETF | 16.31% | 18.00% | 46.97% | 246.83% | -83.86% | -10.39% |
Correlation
The correlation between SATO and BITQ is 0.94, 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 | 0.94 |
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 0.94 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 | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.08 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 0.27 | -0.69 |
| Martin ratioReturn relative to average drawdown | -0.70 | 0.55 | -1.25 |
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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 | -45.92% | -28.50% | -17.42% |
Average DrawdownAverage peak-to-trough decline | -50.75% | -52.25% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.01% | 21.97% | +10.04% |
Volatility
SATO vs. BITQ - Volatility Comparison
The current volatility for Invesco Alerian Galaxy Crypto Economy ETF (SATO) is 12.67%, while Bitwise Crypto Industry Innovators ETF (BITQ) has a volatility of 13.90%. 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 | 12.67% | 13.90% | -1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 38.10% | 42.45% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.01% | 57.22% | -5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.99% | 67.33% | -4.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.99% | 67.06% | -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 7.60%, 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 | 7.60% | 9.50% | 15.03% | 2.21% | 8.97% | 0.73% |
Frequently Asked Questions
With a correlation of 0.94, 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 (13.90%) compared to SATO (12.67%). In terms of maximum drawdown, SATO dropped -88.00% vs BITQ's -90.32%.
On 3-year performance, BITQ leads with 30.63% vs 20.64% for SATO. On fees, SATO is cheaper at 0.60% per year. On volatility, SATO has been the lower-risk option at 12.67%. 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 30.63% return vs 20.64%. 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 7.60%, 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 (0.21 vs -0.43), 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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