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WGMI vs. BITO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


WGMIBITO
YTD Return65.28%100.91%
1Y Return224.84%125.13%
Sharpe Ratio2.412.09
Sortino Ratio2.852.69
Omega Ratio1.321.31
Calmar Ratio3.122.37
Martin Ratio8.278.99
Ulcer Index25.62%13.51%
Daily Std Dev88.10%58.19%
Max Drawdown-85.76%-77.86%
Current Drawdown-1.26%0.00%

Correlation

-0.50.00.51.00.7

The correlation between WGMI and BITO is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

WGMI vs. BITO - Performance Comparison

In the year-to-date period, WGMI achieves a 65.28% return, which is significantly lower than BITO's 100.91% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


-20.00%0.00%20.00%40.00%60.00%80.00%100.00%JuneJulyAugustSeptemberOctoberNovember
91.33%
32.19%
WGMI
BITO

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WGMI vs. BITO - Expense Ratio Comparison

WGMI has a 0.75% expense ratio, which is lower than BITO's 0.95% expense ratio.


BITO
ProShares Bitcoin Strategy ETF
Expense ratio chart for BITO: current value at 0.95% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.95%
Expense ratio chart for WGMI: current value at 0.75% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.75%

Risk-Adjusted Performance

WGMI vs. BITO - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Valkyrie Bitcoin Miners ETF (WGMI) and ProShares Bitcoin Strategy ETF (BITO). 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.


WGMI
Sharpe ratio
The chart of Sharpe ratio for WGMI, currently valued at 2.41, compared to the broader market-2.000.002.004.006.002.41
Sortino ratio
The chart of Sortino ratio for WGMI, currently valued at 2.85, compared to the broader market-2.000.002.004.006.008.0010.0012.002.85
Omega ratio
The chart of Omega ratio for WGMI, currently valued at 1.32, compared to the broader market1.001.502.002.503.001.32
Calmar ratio
The chart of Calmar ratio for WGMI, currently valued at 3.12, compared to the broader market0.005.0010.0015.003.12
Martin ratio
The chart of Martin ratio for WGMI, currently valued at 8.27, compared to the broader market0.0020.0040.0060.0080.00100.008.27
BITO
Sharpe ratio
The chart of Sharpe ratio for BITO, currently valued at 2.09, compared to the broader market-2.000.002.004.006.002.09
Sortino ratio
The chart of Sortino ratio for BITO, currently valued at 2.69, compared to the broader market-2.000.002.004.006.008.0010.0012.002.69
Omega ratio
The chart of Omega ratio for BITO, currently valued at 1.31, compared to the broader market1.001.502.002.503.001.31
Calmar ratio
The chart of Calmar ratio for BITO, currently valued at 4.07, compared to the broader market0.005.0010.0015.004.07
Martin ratio
The chart of Martin ratio for BITO, currently valued at 8.99, compared to the broader market0.0020.0040.0060.0080.00100.008.99

WGMI vs. BITO - Sharpe Ratio Comparison

The current WGMI Sharpe Ratio is 2.41, which is comparable to the BITO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of WGMI and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.00JuneJulyAugustSeptemberOctoberNovember
2.41
2.09
WGMI
BITO

Dividends

WGMI vs. BITO - Dividend Comparison

WGMI's dividend yield for the trailing twelve months is around 0.18%, less than BITO's 50.41% yield.


TTM2023
WGMI
Valkyrie Bitcoin Miners ETF
0.18%0.31%
BITO
ProShares Bitcoin Strategy ETF
50.41%15.14%

Drawdowns

WGMI vs. BITO - Drawdown Comparison

The maximum WGMI drawdown since its inception was -85.76%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for WGMI and BITO. For additional features, visit the drawdowns tool.


-50.00%-40.00%-30.00%-20.00%-10.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-1.26%
0
WGMI
BITO

Volatility

WGMI vs. BITO - Volatility Comparison

Valkyrie Bitcoin Miners ETF (WGMI) has a higher volatility of 27.70% compared to ProShares Bitcoin Strategy ETF (BITO) at 17.98%. This indicates that WGMI's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


10.00%15.00%20.00%25.00%30.00%JuneJulyAugustSeptemberOctoberNovember
27.70%
17.98%
WGMI
BITO