STCE vs. BITQ

Last updated Aug 2, 2026

STCE (Schwab Crypto Thematic ETF) and BITQ (Bitwise Crypto Industry Innovators ETF) are both Blockchain funds - STCE tracks the Schwab Crypto Thematic Index while BITQ tracks the Bitwise Crypto Innovators 30 Index. Both are passively managed. Over the past 3 years, STCE returned 34.25%/yr vs 33.54%/yr for BITQ. Their 0.96 correlation means they have historically moved very closely together. STCE charges 0.30%/yr vs 0.85%/yr for BITQ.

Performance

STCE vs. BITQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Crypto Thematic ETF (STCE) and Bitwise Crypto Industry Innovators ETF (BITQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STCE achieves a 4.17% return, which is significantly lower than BITQ's 14.35% return.

STCE

• 1D: -4.08%
• 1M: -5.28%
• 6M: -4.26%
• YTD: 4.17%
• 1Y: 23.64%
• 3Y*: 34.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.51%

BITQ

• 1D: -3.47%
• 1M: -4.20%
• 6M: 7.60%
• YTD: 14.35%
• 1Y: 20.58%
• 3Y*: 33.54%
• 5Y*: 1.06%
• 10Y*: —
• ALL TIME*: -0.45%

*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)
BITQ Bitwise Crypto Industry Innovators ETF	$2.41M	$2.10M	$3.18M
STCE Schwab Crypto Thematic ETF	$6.70M	$8.47M	$10.81M

STCE vs. BITQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
STCE Schwab Crypto Thematic ETF	4.17%	36.12%	41.76%	108.65%	-40.98%
BITQ Bitwise Crypto Industry Innovators ETF	14.35%	18.00%	46.97%	246.83%	-60.85%

Correlation

The correlation between STCE and BITQ is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since Aug 4, 2022	0.96

The correlation between STCE and BITQ has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

STCE vs. BITQ - Sectors Allocation Comparison

Sectors	STCE	BITQ
Financial Services	66.5%	77.6%
Technology	26.0%	19.2%
Communication Services	6.6%	-
Utilities	1.0%	-
Energy	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	3.1%
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-

Return for Risk

STCE vs. BITQ — Risk / Return Rank

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

STCE

STCE Risk / Return Rank: 18
STCE Sharpe Ratio Rank: 16
STCE Sortino Ratio Rank: 22
STCE Omega Ratio Rank: 21
STCE Calmar Ratio Rank: 16
STCE Martin Ratio Rank: 14

BITQ

BITQ Risk / Return Rank: 17
BITQ Sharpe Ratio Rank: 15
BITQ Sortino Ratio Rank: 20
BITQ Omega Ratio Rank: 19
BITQ Calmar Ratio Rank: 15
BITQ Martin Ratio Rank: 15

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.

STCE vs. BITQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Crypto Thematic ETF (STCE) 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.

	STCE	BITQ	Difference
Sharpe ratio: Return per unit of total volatility	0.25	0.20	+0.05
Sortino ratio: Return per unit of downside risk	0.81	0.71	+0.10
Omega ratio: Gain probability vs. loss probability	1.09	1.08	+0.01
Calmar ratio: Return relative to maximum drawdown	0.29	0.26	+0.03
Martin ratio: Return relative to average drawdown	0.48	0.53	-0.05

STCE vs. BITQ - Sharpe Ratio Comparison

The current STCE Sharpe Ratio is 0.25, which is comparable to the BITQ Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of STCE and BITQ, 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

STCE vs. BITQ - Drawdown Comparison

The maximum STCE drawdown since its inception was -54.11%, smaller than the maximum BITQ drawdown of -90.32%. Use the drawdown chart below to compare losses from any high point for STCE and BITQ.

Drawdown Indicators

	STCE	BITQ	Difference
Max Drawdown Largest peak-to-trough decline	-54.11%	-90.32%	+36.21%
Max Drawdown (1Y) Largest decline over 1 year	-54.11%	-44.99%	-9.12%
Max Drawdown (3Y) Largest decline over 3 years	-54.11%	-51.22%	-2.89%
Max Drawdown (5Y) Largest decline over 5 years	—	-90.32%	—
Current Drawdown Current decline from peak	-41.31%	-29.70%	-11.61%
Average Drawdown Average peak-to-trough decline	-22.47%	-51.99%	+29.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.87%	22.41%	+10.46%

Volatility

STCE vs. BITQ - Volatility Comparison

Schwab Crypto Thematic ETF (STCE) has a higher volatility of 20.83% compared to Bitwise Crypto Industry Innovators ETF (BITQ) at 19.68%. This indicates that STCE's price experiences larger fluctuations and is considered to be riskier than BITQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STCE	BITQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.83%	19.68%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	44.57%	44.50%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	64.20%	59.30%	+4.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.34%	67.22%	-10.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.34%	67.16%	-10.82%

STCE vs. BITQ - Expense Ratio Comparison

STCE has a 0.30% expense ratio, which is lower than BITQ's 0.85% expense ratio.

Dividends

STCE vs. BITQ - Dividend Comparison

STCE's dividend yield for the trailing twelve months is around 1.82%, 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%
STCE Schwab Crypto Thematic ETF	1.82%	1.96%	0.64%	0.31%	1.46%	0.00%

Frequently Asked Questions

Can I hold both STCE and BITQ in my portfolio?

With a correlation of 0.97, STCE 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.

Which is riskier, STCE or BITQ?

STCE has higher volatility (20.83%) compared to BITQ (19.68%). In terms of maximum drawdown, STCE dropped -54.11% vs BITQ's -90.32%.

Which ETF is better, STCE or BITQ?

On 3-year performance, STCE leads with 34.25% vs 33.54% for BITQ. On fees, STCE is cheaper at 0.30% per year. On volatility, BITQ has been the lower-risk option at 19.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STCE or BITQ?

Over the 3-year period, STCE has performed better with a 34.25% return vs 33.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STCE or BITQ?

STCE is cheaper with a 0.30% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, STCE or BITQ?

STCE has the higher dividend yield at 1.82%, compared with 0.00% for BITQ.

What is the main difference between STCE and BITQ?

STCE tracks Schwab Crypto Thematic Index, while BITQ tracks Bitwise Crypto Innovators 30 Index. They also come from different issuers: Charles Schwab and Bitwise. Their fees differ too: 0.30% for STCE and 0.85% for BITQ.

Which has better risk-adjusted returns?

STCE currently has the higher Sharpe Ratio (0.25 vs 0.20), 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.