SPBC vs. BITQ
SPBC (Simplify US Equity PLUS GBTC ETF) and BITQ (Bitwise Crypto Industry Innovators ETF) are both exchange-traded funds - SPBC is a Diversified Portfolio fund actively managed by Simplify, while BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index. SPBC is actively managed, while BITQ is passively managed. Over the past 5 years, SPBC returned 15.20%/yr vs 4.41%/yr for BITQ. A 0.74 correlation means they provide meaningful diversification when combined. SPBC charges 0.50%/yr vs 0.85%/yr for BITQ.
Performance
SPBC vs. BITQ - Performance Comparison
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Returns By Period
In the year-to-date period, SPBC achieves a 4.82% return, which is significantly lower than BITQ's 34.62% return.
SPBC
- 1D
- -1.56%
- 1M
- -2.89%
- YTD
- 4.82%
- 6M
- 3.92%
- 1Y
- 17.62%
- 3Y*
- 25.41%
- 5Y*
- 15.20%
- 10Y*
- —
BITQ
- 1D
- -2.61%
- 1M
- 0.04%
- YTD
- 34.62%
- 6M
- 25.61%
- 1Y
- 49.39%
- 3Y*
- 53.03%
- 5Y*
- 4.41%
- 10Y*
- —
SPBC vs. BITQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPBC Simplify US Equity PLUS GBTC ETF | 4.82% | 16.83% | 37.32% | 48.04% | -28.00% | 13.87% |
BITQ Bitwise Crypto Industry Innovators ETF | 34.62% | 18.00% | 46.97% | 246.83% | -83.86% | 0.75% |
Correlation
The correlation between SPBC and BITQ is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since May 25, 2021 | 0.74 |
The correlation between SPBC and BITQ has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.
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Return for Risk
SPBC vs. BITQ — Risk / Return Rank
SPBC
BITQ
SPBC vs. BITQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS GBTC ETF (SPBC) 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.
| SPBC | BITQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.17 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.10 | +0.34 |
| Martin ratioReturn relative to average drawdown | 5.13 | 2.30 | +2.83 |
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Drawdowns
SPBC vs. BITQ - Drawdown Comparison
The maximum SPBC drawdown since its inception was -33.99%, smaller than the maximum BITQ drawdown of -90.32%. Use the drawdown chart below to compare losses from any high point for SPBC and BITQ.
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Drawdown Indicators
| SPBC | BITQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -90.32% | +56.33% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -44.99% | +32.75% |
Max Drawdown (3Y)Largest decline over 3 years | -21.00% | -51.22% | +30.22% |
Max Drawdown (5Y)Largest decline over 5 years | -33.99% | -90.32% | +56.33% |
Current DrawdownCurrent decline from peak | -3.93% | -17.24% | +13.31% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -52.52% | +43.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 21.50% | -18.06% |
Volatility
SPBC vs. BITQ - Volatility Comparison
The current volatility for Simplify US Equity PLUS GBTC ETF (SPBC) is 5.19%, while Bitwise Crypto Industry Innovators ETF (BITQ) has a volatility of 16.45%. This indicates that SPBC 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
| SPBC | BITQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 16.45% | -11.26% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 43.05% | -31.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.02% | 56.94% | -41.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.52% | 67.32% | -46.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 67.24% | -46.84% |
SPBC vs. BITQ - Expense Ratio Comparison
SPBC has a 0.50% expense ratio, which is lower than BITQ's 0.85% expense ratio.
Dividends
SPBC vs. BITQ - Dividend Comparison
SPBC's dividend yield for the trailing twelve months is around 0.86%, 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% |
SPBC Simplify US Equity PLUS GBTC ETF | 0.86% | 0.85% | 0.98% | 3.79% | 0.60% | 1.41% |
Frequently Asked Questions
SPBC and BITQ have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITQ has higher volatility (16.45%) compared to SPBC (5.19%). In terms of maximum drawdown, SPBC dropped -33.99% vs BITQ's -90.32%.
On 5-year performance, SPBC leads with 15.20% vs 4.41% for BITQ. On fees, SPBC is cheaper at 0.50% per year. On volatility, SPBC has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPBC has performed better with a 15.20% return vs 4.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPBC is cheaper with a 0.50% expense ratio, compared with 0.85% for BITQ.
SPBC has the higher dividend yield at 0.86%, compared with 0.00% for BITQ.
SPBC is categorized as Diversified Portfolio, while BITQ is Blockchain. They also come from different issuers: Simplify and Bitwise. Their fees differ too: 0.50% for SPBC and 0.85% for BITQ.
SPBC currently has the higher Sharpe Ratio (1.18 vs 0.87), 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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