SATO vs. EZBC

Last updated Aug 2, 2026

SATO (Invesco Alerian Galaxy Crypto Economy ETF) and EZBC (Franklin Bitcoin ETF) are both Cryptocurrency funds - SATO tracks the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index while EZBC tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SATO returned -18.39% vs -44.53% for EZBC. Their 0.77 correlation means they have sometimes moved together and sometimes differently. SATO charges 0.60%/yr vs 0.19%/yr for EZBC.

Performance

SATO vs. EZBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Franklin Bitcoin ETF (EZBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SATO achieves a -13.37% return, which is significantly higher than EZBC's -28.20% 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%

EZBC

• 1D: -2.86%
• 1M: 2.28%
• 6M: -25.05%
• YTD: -28.20%
• 1Y: -44.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EZBC Franklin Bitcoin ETF	$3.11M	$3.63M	$7.00M
SATO Invesco Alerian Galaxy Crypto Economy ETF	$33.71K	$38.05K	$74.17K

SATO vs. EZBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SATO Invesco Alerian Galaxy Crypto Economy ETF	-13.37%	2.26%	59.59%
EZBC Franklin Bitcoin ETF	-28.20%	-6.56%	87.83%

Correlation

The correlation between SATO and EZBC 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 (All Time) Calculated using the full available price history since Jan 11, 2024	0.77

The correlation between SATO and EZBC has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

Return for Risk

SATO vs. EZBC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SATO

SATO Risk / Return Rank: 6
SATO Sharpe Ratio Rank: 6
SATO Sortino Ratio Rank: 7
SATO Omega Ratio Rank: 7
SATO Calmar Ratio Rank: 6
SATO Martin Ratio Rank: 6

EZBC

EZBC Risk / Return Rank: 1
EZBC Sharpe Ratio Rank: 1
EZBC Sortino Ratio Rank: 1
EZBC Omega Ratio Rank: 2
EZBC Calmar Ratio Rank: 2
EZBC Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SATO vs. EZBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Franklin Bitcoin ETF (EZBC). 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	EZBC	Difference
Sharpe ratio: Return per unit of total volatility	-0.42	-1.05	+0.62
Sortino ratio: Return per unit of downside risk	-0.31	-1.58	+1.28
Omega ratio: Gain probability vs. loss probability	0.97	0.83	+0.14
Calmar ratio: Return relative to maximum drawdown	-0.42	-0.87	+0.45
Martin ratio: Return relative to average drawdown	-0.67	-1.34	+0.67

SATO vs. EZBC - Sharpe Ratio Comparison

The current SATO Sharpe Ratio is -0.42, which is higher than the EZBC Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of SATO and EZBC, 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

SATO vs. EZBC - Drawdown Comparison

The maximum SATO drawdown since its inception was -88.00%, which is greater than EZBC's maximum drawdown of -53.35%. Use the drawdown chart below to compare losses from any high point for SATO and EZBC.

Drawdown Indicators

	SATO	EZBC	Difference
Max Drawdown Largest peak-to-trough decline	-88.00%	-53.35%	-34.65%
Max Drawdown (1Y) Largest decline over 1 year	-53.49%	-53.35%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-53.49%	—	—
Current Drawdown Current decline from peak	-46.92%	-50.02%	+3.10%
Average Drawdown Average peak-to-trough decline	-50.68%	-18.28%	-32.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.62%	34.65%	-1.03%

Volatility

SATO vs. EZBC - Volatility Comparison

Invesco Alerian Galaxy Crypto Economy ETF (SATO) has a higher volatility of 16.55% compared to Franklin Bitcoin ETF (EZBC) at 9.03%. This indicates that SATO's price experiences larger fluctuations and is considered to be riskier than EZBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SATO	EZBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.55%	9.03%	+7.52%
Volatility (6M) Calculated over the trailing 6-month period	39.43%	33.75%	+5.68%
Volatility (1Y) Calculated over the trailing 1-year period	53.26%	44.37%	+8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.98%	49.52%	+13.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.98%	49.52%	+13.46%

SATO vs. EZBC - Expense Ratio Comparison

SATO has a 0.60% expense ratio, which is higher than EZBC's 0.19% expense ratio.

Dividends

SATO vs. EZBC - Dividend Comparison

SATO's dividend yield for the trailing twelve months is around 7.74%, while EZBC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
EZBC Franklin Bitcoin ETF	0.00%	0.00%	0.00%	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

Can I hold both SATO and EZBC in my portfolio?

SATO and EZBC 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.

Which is riskier, SATO or EZBC?

SATO has higher volatility (16.55%) compared to EZBC (9.03%). In terms of maximum drawdown, SATO dropped -88.00% vs EZBC's -53.35%.

Which ETF is better, SATO or EZBC?

On 1-year performance, SATO leads with -18.39% vs -44.53% for EZBC. On fees, EZBC is cheaper at 0.19% per year. On volatility, EZBC has been the lower-risk option at 9.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SATO or EZBC?

Over the 1-year period, SATO has performed better with a -18.39% return vs -44.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SATO or EZBC?

EZBC is cheaper with a 0.19% expense ratio, compared with 0.60% for SATO.

Which ETF pays a higher dividend yield, SATO or EZBC?

SATO has the higher dividend yield at 7.74%, compared with 0.00% for EZBC.

What is the main difference between SATO and EZBC?

SATO tracks Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index, while EZBC tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Invesco and Franklin Templeton. Their fees differ too: 0.60% for SATO and 0.19% for EZBC.

Which has better risk-adjusted returns?

SATO currently has the higher Sharpe Ratio (-0.42 vs -1.05), 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.