STCE vs. OBTC
STCE (Schwab Crypto Thematic ETF) and OBTC (Osprey Bitcoin Trust) are both exchange-traded funds - STCE is a Blockchain fund tracking the Schwab Crypto Thematic Index, while OBTC is a Cryptocurrency fund tracking the Bitcoin (BTC). Both are passively managed. Over the past 3 years, STCE returned 39.06%/yr vs 42.55%/yr for OBTC. Their 0.61 correlation means they have sometimes moved together and sometimes differently. STCE charges 0.30%/yr vs 0.49%/yr for OBTC.
Performance
STCE vs. OBTC - Performance Comparison
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Returns By Period
In the year-to-date period, STCE achieves a 8.56% return, which is significantly higher than OBTC's -26.66% return.
STCE
- 1D
- 0.25%
- 1M
- -1.29%
- 6M
- 4.24%
- YTD
- 8.56%
- 1Y
- 22.67%
- 3Y*
- 39.06%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.73%
OBTC
- 1D
- 0.95%
- 1M
- 4.80%
- 6M
- -16.02%
- YTD
- -26.66%
- 1Y
- -36.66%
- 3Y*
- 42.55%
- 5Y*
- 5.44%
- 10Y*
- —
- ALL TIME*
- -6.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $131.03K | $187.41K | $211.76K | |
| $6.33M | $7.66M | $10.53M |
STCE vs. OBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
STCE Schwab Crypto Thematic ETF | 8.56% | 36.12% | 41.76% | 108.65% | -40.98% |
OBTC Osprey Bitcoin Trust | -26.66% | -1.87% | 130.89% | 277.81% | -48.51% |
Correlation
The correlation between STCE and OBTC is 0.64, 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. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2022 | 0.61 |
The correlation between STCE and OBTC has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.
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Return for Risk
STCE vs. OBTC — Risk / Return Rank
STCE
OBTC
STCE vs. OBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Crypto Thematic ETF (STCE) and Osprey Bitcoin Trust (OBTC). 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 | OBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.88 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | -0.74 | +1.16 |
| Martin ratioReturn relative to average drawdown | 0.69 | -1.18 | +1.86 |
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Drawdowns
STCE vs. OBTC - Drawdown Comparison
The maximum STCE drawdown since its inception was -54.11%, smaller than the maximum OBTC drawdown of -94.50%. Use the drawdown chart below to compare losses from any high point for STCE and OBTC.
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Drawdown Indicators
| STCE | OBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.11% | -94.50% | +40.39% |
Max Drawdown (1Y)Largest decline over 1 year | -54.11% | -49.62% | -4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -54.11% | -49.62% | -4.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -83.76% | — |
Current DrawdownCurrent decline from peak | -38.84% | -63.37% | +24.53% |
Average DrawdownAverage peak-to-trough decline | -22.50% | -69.41% | +46.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.05% | 31.21% | +1.84% |
Volatility
STCE vs. OBTC - Volatility Comparison
Schwab Crypto Thematic ETF (STCE) has a higher volatility of 20.36% compared to Osprey Bitcoin Trust (OBTC) at 8.17%. This indicates that STCE's price experiences larger fluctuations and is considered to be riskier than OBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STCE | OBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.36% | 8.17% | +12.19% |
Volatility (6M)Calculated over the trailing 6-month period | 44.42% | 33.39% | +11.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.97% | 44.92% | +19.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.31% | 56.36% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.31% | 76.18% | -19.87% |
STCE vs. OBTC - Expense Ratio Comparison
STCE has a 0.30% expense ratio, which is lower than OBTC's 0.49% expense ratio.
Dividends
STCE vs. OBTC - Dividend Comparison
STCE's dividend yield for the trailing twelve months is around 1.74%, while OBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
OBTC Osprey Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
STCE Schwab Crypto Thematic ETF | 1.74% | 1.96% | 0.64% | 0.31% | 1.46% |
Frequently Asked Questions
STCE and OBTC have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STCE has higher volatility (20.36%) compared to OBTC (8.17%). In terms of maximum drawdown, STCE dropped -54.11% vs OBTC's -94.50%.
On 3-year performance, OBTC leads with 42.55% vs 39.06% for STCE. On fees, STCE is cheaper at 0.30% per year. On volatility, OBTC has been the lower-risk option at 8.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OBTC has performed better with a 42.55% return vs 39.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STCE is cheaper with a 0.30% expense ratio, compared with 0.49% for OBTC.
STCE has the higher dividend yield at 1.74%, compared with 0.00% for OBTC.
STCE is categorized as Blockchain, while OBTC is Cryptocurrency. STCE tracks Schwab Crypto Thematic Index, while OBTC tracks Bitcoin (BTC). They also come from different issuers: Charles Schwab and Osprey. Their fees differ too: 0.30% for STCE and 0.49% for OBTC.
STCE currently has the higher Sharpe Ratio (0.36 vs -0.82), 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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