BITB vs SPY
Bitwise Bitcoin ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BITB or SPY?
Single Currency against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BITB | SPY |
|---|---|---|
| Expense Ratio | 0.20% | 0.09%Best |
| AUM | $2.9B | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 1 | 505 |
| YTD Return | -14.90% | +12.22%Best |
| 1Y Return | -33.99% | +16.97%Best |
| 3Y Return (annualized) | - | +21.16% |
| 5Y Return (annualized) | - | +13.00% |
| Volatility (annualized) | 53.9% | 12.0%Best |
| Max Drawdown | -53.3% | -18.8%Best |
| $10,000 over 2.7 years | $16,312 | $16,545Best |
| Fund Family | Bitwise | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Single Currency | Large Cap Blend |
| Inception | Jan 10, 2024 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Jan 11, 2024 to Sep 17, 2026 (2.7 years).
BITB vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.7 years both funds cover.
BITB vs SPY Performance
Bitwise Bitcoin ETF (BITB) is an ETF from Bitwise and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BITB returned -33.99% while SPY returned +16.97%. Year to date, BITB is down 14.90% versus a gain of 12.22% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BITB has been the more volatile fund, with annualized monthly volatility of 53.9% compared with 12.0% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.3% for BITB and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BITB charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, BITB currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of BITB and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BITB or SPY?
BITB has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, BITB or SPY?
Over the past year BITB returned -33.99% vs +16.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BITB or SPY?
BITB has been the more volatile fund at 53.9% annualized versus 12.0% for SPY. Worst drawdown: BITB -53.3% vs SPY -18.8%.
Should I hold both BITB and SPY?
BITB and SPY have a monthly-return correlation of 0.49, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BITB or SPY?
BITB yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than BITB?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.