BITQ vs SPY
Bitwise Crypto Industry Innovators ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BITQ or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. BITQ led over 1Y and 3Y, SPY over 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 60.6%.
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 | BITQ | SPY |
|---|---|---|
| Expense Ratio | 0.85% | 0.09%Best |
| AUM | $420M | $814.4B |
| Dividend Yield | 0.00% | 1.01% |
| Holdings | 30 | 505 |
| YTD Price Return | +25.33%Best | +12.74% |
| 1Y Price Return | +35.13%Best | +18.65% |
| 3Y Price Return (annualized) | +55.14%Best | +19.70% |
| 5Y Price Return (annualized) | +1.31% | +11.30%Best |
| Volatility (annualized) | 70.4% | 15.5%Best |
| Max Drawdown | -90.3% | -25.4%Best |
| $10,000 over 5 years | $10,672 | $17,080Best |
| Top 10 Weight | 60.6% | 38.0%Best |
| Fund Family | Bitwise | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | May 11, 2021 | Jan 22, 1993 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for BITQ. Both funds are measured the same way, so the comparison holds. BITQ yields 0.00% and SPY 1.01% on top.
Volatility and max drawdown are measured over the window both funds cover: May 12, 2021 to Sep 4, 2026 (5.3 years).
BITQ 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 5.3 years both funds cover. Prices exclude distributions, on both funds alike.
BITQ vs SPY Performance
Bitwise Crypto Industry Innovators ETF (BITQ) 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 BITQ returned +35.13% while SPY returned +18.65%. Year to date, BITQ is up 25.33% versus a gain of 12.74% for SPY.
Over three years, BITQ compounded at +55.14% per year against +19.70% for SPY; over five years the annualized figures are +1.31% and +11.30% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BITQ has been the more volatile fund, with annualized monthly volatility of 70.4% compared with 15.5% 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 -90.3% for BITQ and -25.4% 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 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BITQ charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, BITQ currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
22.7% of BITQ's money is in holdings SPY also owns. 2.3% of SPY's money is in holdings BITQ also owns.
BITQ and SPY share little of their money.
7 positions in common, counted across the 31 positions we hold weights for in BITQ and 503 in SPY, against full books of 30 and 505.
What only one of them owns
Our book lists 486 positions for SPY that do not appear in our book for BITQ (97.1% of the fund), and 12 for BITQ that do not appear in SPY (46.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BITQ | Weight in SPY | Difference |
|---|---|---|---|
| COINCoinbase Global, Inc., Class A | 11.05% | 0.05% | 11.00% |
| V'visa Inc., Class 'a'' | 1.94% | 0.92% | 1.02% |
| MAMastercard Inc | 2.02% | 0.69% | 1.33% |
| BLKBlackrock Inc. | 2.00% | 0.25% | 1.75% |
| BKBank Of New York Mellon Corp/The Bk Us Equity | 1.99% | 0.16% | 1.83% |
| HOODRobinhood Markets Inc - A | 1.92% | 0.11% | 1.81% |
| CMECme Group Inc. | 1.82% | 0.14% | 1.68% |
22.7% of BITQ is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BITQ or SPY?
BITQ has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, BITQ or SPY?
Over the past year BITQ returned +35.13% vs +18.65% for SPY, so BITQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BITQ or SPY?
BITQ has been the more volatile fund at 70.4% annualized versus 15.5% for SPY. Worst drawdown: BITQ -90.3% vs SPY -25.4%.
Should I hold both BITQ and SPY?
BITQ and SPY have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BITQ and SPY?
22.7% of BITQ's money is in holdings SPY also owns. 2.3% of SPY's is in holdings BITQ also owns. They hold 7 positions in common, counted across the 31 positions we hold weights for in BITQ and 503 in SPY.
Which pays a higher dividend, BITQ or SPY?
BITQ yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than BITQ?
SPY has a lower expense ratio. BITQ led over 1Y and 3Y, SPY over 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 60.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.