TDOG vs. WGMI

Last updated Jun 4, 2026

TDOG (21Shares Dogecoin ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. TDOG is passively managed, while WGMI is actively managed. At a 0.43 correlation, their price movements are largely independent. TDOG charges 0.50%/yr vs 0.75%/yr for WGMI.

Performance

TDOG vs. WGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Dogecoin ETF (TDOG) and Valkyrie Bitcoin Miners ETF (WGMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TDOG

• 1D: -2.41%
• 1M: -17.01%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -1.11%
• 1M: 40.03%
• YTD: 84.78%
• 6M: 55.52%
• 1Y: 294.61%
• 3Y*: 86.17%
• 5Y*: —
• 10Y*: —

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

TDOG vs. WGMI - Yearly Performance Comparison

	2026 (YTD)
TDOG 21Shares Dogecoin ETF	-26.19%
WGMI Valkyrie Bitcoin Miners ETF	50.68%

Correlation

The correlation between TDOG and WGMI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 23, 2026	0.43

Return for Risk

TDOG vs. WGMI — Risk / Return Rank

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

WGMI

WGMI Risk / Return Rank: 79
WGMI Sharpe Ratio Rank: 95
WGMI Sortino Ratio Rank: 76
WGMI Omega Ratio Rank: 69
WGMI Calmar Ratio Rank: 91
WGMI Martin Ratio Rank: 64

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.

TDOG vs. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Dogecoin ETF (TDOG) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TDOG	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.85	0.31	-1.16

Drawdowns

TDOG vs. WGMI - Drawdown Comparison

The maximum TDOG drawdown since its inception was -29.24%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for TDOG and WGMI.

Drawdown Indicators

	TDOG	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-29.24%	-85.76%	+56.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-50.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-62.79%	—
Current Drawdown Current decline from peak	-27.22%	-1.11%	-26.11%
Average Drawdown Average peak-to-trough decline	-20.46%	-42.90%	+22.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	25.08%	—

Volatility

Volatility by Period

	TDOG	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	55.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	67.14%	76.03%	-8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.14%	81.53%	-14.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.14%	81.53%	-14.39%

TDOG vs. WGMI - Expense Ratio Comparison

TDOG has a 0.50% expense ratio, which is lower than WGMI's 0.75% expense ratio.

Dividends

TDOG vs. WGMI - Dividend Comparison

Neither TDOG nor WGMI has paid dividends to shareholders.

Position	TTM	2025	2024	2023
TDOG 21Shares Dogecoin ETF	0.00%	0.00%	0.00%	0.00%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both TDOG and WGMI in my portfolio?

TDOG and WGMI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TDOG or WGMI?

On fees, TDOG is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TDOG or WGMI?

TDOG is cheaper with a 0.50% expense ratio, compared with 0.75% for WGMI.

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

TDOG and WGMI have nearly identical dividend yields, around 0.00%.

What is the main difference between TDOG and WGMI?

They also come from different issuers: 21Shares and Valkyrie. Their fees differ too: 0.50% for TDOG and 0.75% for WGMI.