BTOP vs IVV
Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | BTOP | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.03% | |
| AUM | $4M | $865.2B | |
| Dividend Yield | 2.32% | 1.09% | |
| Holdings | 5 | 508 | |
| YTD Return | +0.00% | +13.43% | |
| 1Y Return | -12.09% | +22.61% | |
| 3Y Return (annualized) | - | +21.47% | |
| 5Y Return (annualized) | - | +13.26% | |
| Volatility (annualized) | 53.5% | 15.1% | |
| Max Drawdown | -43.4% | -56.5% | |
| Fund Family | Bitwise | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 29, 2023 | May 15, 2000 |
BTOP vs IVV Performance
Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP) is a ETF from Bitwise and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year BTOP returned -12.09% while IVV returned +22.61%. Year to date, BTOP is up 0.00% versus a gain of 13.43% for IVV.
Risk: Volatility and Drawdowns
BTOP has been the more volatile fund, with annualized monthly volatility of 53.5% compared with 15.1% for IVV. 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 -43.4% for BTOP and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BTOP charges 0.89% per year while IVV charges 0.03%. On a $10,000 position that is $89 vs $3 annually, a gap of $86 per year that compounds over a long holding period. On income, BTOP currently yields 2.32% against 1.09% for IVV.
Holdings Overlap
BTOP and IVV share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BTOP or IVV?
BTOP has an expense ratio of 0.89% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, BTOP or IVV?
Over the past year BTOP returned -12.09% vs +22.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (3 years), BTOP annualized +28.38% vs +7.03% for IVV. Past performance does not guarantee future results.
Which is riskier, BTOP or IVV?
BTOP has been the more volatile fund at 53.5% annualized versus 15.1% for IVV. Worst drawdown: BTOP -43.4% vs IVV -56.5%.
Should I hold both BTOP and IVV?
BTOP and IVV have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BTOP and IVV?
BTOP and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, BTOP or IVV?
BTOP yields 2.32% while IVV yields 1.09%, so BTOP currently pays the higher dividend yield.
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