SATO vs. BITX
SATO (Invesco Alerian Galaxy Crypto Economy ETF) and BITX (2x Bitcoin Strategy ETF) are both Cryptocurrency funds - SATO tracks the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index while BITX tracks the S&P CME Bitcoin Futures Daily Roll Index (200%). Both are passively managed. Over the past 3 years, SATO returned 21.83%/yr vs 5.01%/yr for BITX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. SATO charges 0.60%/yr vs 2.38%/yr for BITX.
Performance
SATO vs. BITX - Performance Comparison
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Returns By Period
In the year-to-date period, SATO achieves a -13.37% return, which is significantly higher than BITX's -57.64% return.
SATO
- 1D
- -3.22%
- 1M
- -4.42%
- 6M
- -16.14%
- YTD
- -13.37%
- 1Y
- -18.39%
- 3Y*
- 21.83%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.90%
BITX
- 1D
- -5.89%
- 1M
- 3.21%
- 6M
- -52.61%
- YTD
- -57.64%
- 1Y
- -77.94%
- 3Y*
- 5.01%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $90.28M | $99.74M | $121.60M | |
| $33.71K | $38.05K | $74.17K |
SATO vs. BITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SATO Invesco Alerian Galaxy Crypto Economy ETF | -13.37% | 2.26% | 55.25% | 74.63% |
BITX 2x Bitcoin Strategy ETF | -57.64% | -38.71% | 163.41% | 46.18% |
Correlation
The correlation between SATO and BITX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.76 |
The correlation between SATO and BITX has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.
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Return for Risk
SATO vs. BITX — Risk / Return Rank
SATO
BITX
SATO vs. BITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) and 2x Bitcoin Strategy ETF (BITX). 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 | BITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.81 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.95 | +0.53 |
| Martin ratioReturn relative to average drawdown | -0.67 | -1.34 | +0.66 |
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Drawdowns
SATO vs. BITX - Drawdown Comparison
The maximum SATO drawdown since its inception was -88.00%, which is greater than BITX's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for SATO and BITX.
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Drawdown Indicators
| SATO | BITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.00% | -83.45% | -4.55% |
Max Drawdown (1Y)Largest decline over 1 year | -53.49% | -83.45% | +29.96% |
Max Drawdown (3Y)Largest decline over 3 years | -53.49% | -83.45% | +29.96% |
Current DrawdownCurrent decline from peak | -46.92% | -81.28% | +34.36% |
Average DrawdownAverage peak-to-trough decline | -50.68% | -34.19% | -16.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.62% | 59.44% | -25.82% |
Volatility
SATO vs. BITX - Volatility Comparison
The current volatility for Invesco Alerian Galaxy Crypto Economy ETF (SATO) is 16.55%, while 2x Bitcoin Strategy ETF (BITX) has a volatility of 17.98%. This indicates that SATO experiences smaller price fluctuations and is considered to be less risky than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SATO | BITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 17.98% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 39.43% | 67.72% | -28.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.26% | 88.19% | -34.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.98% | 97.19% | -34.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.98% | 97.19% | -34.21% |
SATO vs. BITX - Expense Ratio Comparison
SATO has a 0.60% expense ratio, which is lower than BITX's 2.38% expense ratio.
Dividends
SATO vs. BITX - Dividend Comparison
SATO's dividend yield for the trailing twelve months is around 7.74%, less than BITX's 27.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 27.89% | 21.69% | 10.70% | 0.00% | 0.00% | 0.00% |
SATO Invesco Alerian Galaxy Crypto Economy ETF | 7.74% | 9.50% | 15.03% | 2.21% | 8.97% | 0.73% |
Frequently Asked Questions
SATO and BITX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITX has higher volatility (17.98%) compared to SATO (16.55%). In terms of maximum drawdown, SATO dropped -88.00% vs BITX's -83.45%.
On 3-year performance, SATO leads with 21.83% vs 5.01% for BITX. On fees, SATO is cheaper at 0.60% per year. On volatility, SATO has been the lower-risk option at 16.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SATO has performed better with a 21.83% return vs 5.01%. 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 2.38% for BITX.
BITX has the higher dividend yield at 27.89%, compared with 7.74% for SATO.
SATO tracks Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index, while BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%). They also come from different issuers: Invesco and Volatility Shares. Their fees differ too: 0.60% for SATO and 2.38% for BITX.
SATO currently has the higher Sharpe Ratio (-0.42 vs -0.90), 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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