SATO vs. WGMI

Last updated Jun 24, 2026

SATO (Invesco Alerian Galaxy Crypto Economy ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. SATO is passively managed, while WGMI is actively managed. Over the past 3 years, SATO returned 37.72%/yr vs 76.50%/yr for WGMI. Their correlation of 0.93 suggests significant overlap in exposure. SATO charges 0.60%/yr vs 0.75%/yr for WGMI.

Performance

SATO vs. WGMI - Performance Comparison

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

Returns By Period

In the year-to-date period, SATO achieves a 0.09% return, which is significantly lower than WGMI's 85.47% return.

SATO

• 1D: -2.97%
• 1M: -5.75%
• YTD: 0.09%
• 6M: -5.06%
• 1Y: 8.50%
• 3Y*: 37.72%
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -1.39%
• 1M: 14.61%
• YTD: 85.47%
• 6M: 70.99%
• 1Y: 292.37%
• 3Y*: 76.50%
• 5Y*: —
• 10Y*: —

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

SATO vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SATO Invesco Alerian Galaxy Crypto Economy ETF	0.09%	2.26%	55.25%	266.77%	-77.57%
WGMI Valkyrie Bitcoin Miners ETF	85.47%	72.47%	23.54%	304.08%	-82.94%

Correlation

The correlation between SATO and WGMI is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 8, 2022	0.93

The correlation between SATO and WGMI has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

Return for Risk

SATO vs. WGMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SATO

SATO Risk / Return Rank: 11
SATO Sharpe Ratio Rank: 11
SATO Sortino Ratio Rank: 13
SATO Omega Ratio Rank: 13
SATO Calmar Ratio Rank: 10
SATO Martin Ratio Rank: 10

WGMI

WGMI Risk / Return Rank: 82
WGMI Sharpe Ratio Rank: 96
WGMI Sortino Ratio Rank: 81
WGMI Omega Ratio Rank: 75
WGMI Calmar Ratio Rank: 92
WGMI Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SATO vs. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) and Valkyrie Bitcoin Miners ETF (WGMI). 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	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	0.16	3.84	-3.67
Sortino ratio: Return per unit of downside risk	0.61	3.41	-2.81
Omega ratio: Gain probability vs. loss probability	1.07	1.42	-0.35
Calmar ratio: Return relative to maximum drawdown	0.16	5.78	-5.62
Martin ratio: Return relative to average drawdown	0.28	11.70	-11.42

SATO vs. WGMI - Sharpe Ratio Comparison

The current SATO Sharpe Ratio is 0.16, which is lower than the WGMI Sharpe Ratio of 3.84. The chart below compares the historical Sharpe Ratios of SATO and WGMI, 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. WGMI - Drawdown Comparison

The maximum SATO drawdown since its inception was -88.00%, roughly equal to the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for SATO and WGMI.

Drawdown Indicators

	SATO	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-88.00%	-85.76%	-2.24%
Max Drawdown (1Y) Largest decline over 1 year	-53.49%	-50.94%	-2.55%
Max Drawdown (3Y) Largest decline over 3 years	-53.49%	-62.79%	+9.30%
Current Drawdown Current decline from peak	-38.67%	-1.55%	-37.12%
Average Drawdown Average peak-to-trough decline	-50.82%	-42.43%	-8.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.44%	25.12%	+5.32%

Volatility

SATO vs. WGMI - Volatility Comparison

The current volatility for Invesco Alerian Galaxy Crypto Economy ETF (SATO) is 13.50%, while Valkyrie Bitcoin Miners ETF (WGMI) has a volatility of 20.98%. This indicates that SATO experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SATO	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.50%	20.98%	-7.48%
Volatility (6M) Calculated over the trailing 6-month period	38.64%	55.32%	-16.68%
Volatility (1Y) Calculated over the trailing 1-year period	52.11%	76.84%	-24.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.17%	81.51%	-18.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.17%	81.51%	-18.34%

SATO vs. WGMI - Expense Ratio Comparison

SATO has a 0.60% expense ratio, which is lower than WGMI's 0.75% expense ratio.

Dividends

SATO vs. WGMI - Dividend Comparison

SATO's dividend yield for the trailing twelve months is around 6.70%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
SATO Invesco Alerian Galaxy Crypto Economy ETF	6.70%	9.50%	15.03%	2.21%	8.97%	0.73%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SATO and WGMI in my portfolio?

SATO and WGMI have a correlation of 0.85, 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 WGMI?

WGMI has higher volatility (20.98%) compared to SATO (13.50%). In terms of maximum drawdown, SATO dropped -88.00% vs WGMI's -85.76%.

Which ETF is better, SATO or WGMI?

On 3-year performance, WGMI leads with 76.50% 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.

Which ETF has performed better, SATO or WGMI?

Over the 3-year period, WGMI has performed better with a 76.50% return vs 37.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SATO or WGMI?

SATO is cheaper with a 0.60% expense ratio, compared with 0.75% for WGMI.

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

SATO has the higher dividend yield at 6.70%, compared with 0.00% for WGMI.

What is the main difference between SATO and WGMI?

They also come from different issuers: Invesco and Valkyrie. Their fees differ too: 0.60% for SATO and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (3.84 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.