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 58.04%/yr vs 53.99%/yr for OBTC. A 0.61 correlation means they provide meaningful diversification when combined. 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 32.00% return, which is significantly higher than OBTC's -25.45% return.
STCE
- 1D
- -1.96%
- 1M
- 16.12%
- YTD
- 32.00%
- 6M
- 10.29%
- 1Y
- 84.98%
- 3Y*
- 58.04%
- 5Y*
- —
- 10Y*
- —
OBTC
- 1D
- -2.72%
- 1M
- -18.30%
- YTD
- -25.45%
- 6M
- -25.31%
- 1Y
- -28.83%
- 3Y*
- 53.99%
- 5Y*
- 8.44%
- 10Y*
- —
STCE vs. OBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
STCE Schwab Crypto Thematic ETF | 32.00% | 36.12% | 41.76% | 108.65% | -38.86% |
OBTC Osprey Bitcoin Trust | -25.45% | -1.87% | 130.89% | 277.81% | -46.42% |
Correlation
The correlation between STCE and OBTC is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 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.
| STCE | OBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.91 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | -0.64 | +2.22 |
| Martin ratioReturn relative to average drawdown | 2.85 | -1.15 | +4.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| STCE | OBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | -0.65 | +2.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | -0.21 | +0.86 |
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% | -45.41% | -8.70% |
Max Drawdown (3Y)Largest decline over 3 years | -54.11% | -45.41% | -8.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -83.76% | — |
Current DrawdownCurrent decline from peak | -25.63% | -62.77% | +37.14% |
Average DrawdownAverage peak-to-trough decline | -21.98% | -69.63% | +47.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.87% | 25.06% | +4.81% |
Volatility
STCE vs. OBTC - Volatility Comparison
Schwab Crypto Thematic ETF (STCE) has a higher volatility of 14.89% compared to Osprey Bitcoin Trust (OBTC) at 9.55%. 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 | 14.89% | 9.55% | +5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 42.80% | 34.48% | +8.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.14% | 44.27% | +16.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.86% | 58.11% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.86% | 71.56% | -15.70% |
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 1.49%, 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 | 1.49% | 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 (14.89%) compared to OBTC (9.55%). In terms of maximum drawdown, STCE dropped -54.11% vs OBTC's -94.50%.
On 3-year performance, STCE leads with 58.04% vs 53.99% for OBTC. On fees, STCE is cheaper at 0.30% per year. On volatility, OBTC has been the lower-risk option at 9.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, STCE has performed better with a 58.04% return vs 53.99%. 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 1.49%, 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 Funds. Their fees differ too: 0.30% for STCE and 0.49% for OBTC.
STCE currently has the higher Sharpe Ratio (1.40 vs -0.65), 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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