WGMI vs. BITX
Compare and contrast key facts about Valkyrie Bitcoin Miners ETF (WGMI) and Volatility Shares 2x Bitcoin Strategy ETF (BITX).
WGMI and BITX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WGMI is an actively managed fund by Valkyrie. It was launched on Feb 7, 2022. BITX is an actively managed fund by Volatility Shares. It was launched on Jun 27, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: WGMI or BITX.
Key characteristics
| WGMI | BITX | |
|---|---|---|
| YTD Return | 65.28% | 163.72% |
| 1Y Return | 224.84% | 212.79% |
| Sharpe Ratio | 2.41 | 1.76 |
| Sortino Ratio | 2.85 | 2.47 |
| Omega Ratio | 1.32 | 1.29 |
| Calmar Ratio | 3.12 | 3.31 |
| Martin Ratio | 8.27 | 6.24 |
| Ulcer Index | 25.62% | 32.51% |
| Daily Std Dev | 88.10% | 115.56% |
| Max Drawdown | -85.76% | -61.28% |
| Current Drawdown | -1.26% | 0.00% |
Correlation
The correlation between WGMI and BITX is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
WGMI vs. BITX - Performance Comparison
In the year-to-date period, WGMI achieves a 65.28% return, which is significantly lower than BITX's 163.72% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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WGMI vs. BITX - Expense Ratio Comparison
WGMI has a 0.75% expense ratio, which is lower than BITX's 1.85% expense ratio.
Risk-Adjusted Performance
WGMI vs. BITX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Valkyrie Bitcoin Miners ETF (WGMI) and Volatility Shares 2x Bitcoin Strategy ETF (BITX). 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.
Dividends
WGMI vs. BITX - Dividend Comparison
WGMI's dividend yield for the trailing twelve months is around 0.18%, less than BITX's 8.24% yield.
| TTM | 2023 | |
|---|---|---|
WGMI Valkyrie Bitcoin Miners ETF | 0.18% | 0.31% |
BITX Volatility Shares 2x Bitcoin Strategy ETF | 8.24% | 0.00% |
Drawdowns
WGMI vs. BITX - Drawdown Comparison
The maximum WGMI drawdown since its inception was -85.76%, which is greater than BITX's maximum drawdown of -61.28%. Use the drawdown chart below to compare losses from any high point for WGMI and BITX. For additional features, visit the drawdowns tool.
Volatility
WGMI vs. BITX - Volatility Comparison
The current volatility for Valkyrie Bitcoin Miners ETF (WGMI) is 27.70%, while Volatility Shares 2x Bitcoin Strategy ETF (BITX) has a volatility of 34.78%. This indicates that WGMI experiences smaller price fluctuations and is considered to be less risky than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.