BTOP vs SCHD
Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF vs Schwab US Dividend Equity ETF
Which is better, BTOP or SCHD?
Multi Alternative against Large Cap Value.
SCHD has a lower expense ratio. BTOP led over the full window, SCHD over 1Y.
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 | BTOP | SCHD |
|---|---|---|
| Expense Ratio | 0.88% | 0.06%Best |
| AUM | $4M | $112.1B |
| Dividend Yield | 2.32% | 3.00% |
| Holdings | 5 | 103 |
| Volatility (annualized) | 53.5% | 13.2%Best |
| Max Drawdown | -43.4% | -16.1%Best |
| $10,000 over 2.6 years | $19,147Best | $15,058 |
| Fund Family | Bitwise | Charles Schwab Asset Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Sep 29, 2023 | Oct 20, 2011 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 120 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. BTOP has data through May 21, 2026 and SCHD through Sep 18, 2026.
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Oct 2, 2023 to May 21, 2026 (2.6 years).
Risk: Volatility and Drawdowns
BTOP has been the more volatile fund, with annualized monthly volatility of 53.5% compared with 13.2% for SCHD. 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 -16.1% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.25. They move largely independently of each other.
Fees and Cost Over Time
BTOP charges 0.88% per year while SCHD charges 0.06%. On a $10,000 position that is $88 vs $6 annually, a gap of $82 per year that compounds over a long holding period. On income, BTOP currently yields 2.32% against 3.00% for SCHD.
Holdings Overlap
We hold position weights for 1 holding in BTOP and 100 in SCHD, totalling 83.2% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 213 days apart, BTOP as of Jan 30, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 1 positions we hold weights for in BTOP and 100 in SCHD, against full books of 5 and 103.
You are not choosing between two funds in isolation.
Whichever of BTOP and SCHD 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, BTOP or SCHD?
BTOP has an expense ratio of 0.88% while SCHD charges 0.06%. SCHD is the cheaper option, by $82 a year on a $10,000 investment.
Which is riskier, BTOP or SCHD?
BTOP has been the more volatile fund at 53.5% annualized versus 13.2% for SCHD. Worst drawdown: BTOP -43.4% vs SCHD -16.1%.
Should I hold both BTOP and SCHD?
BTOP and SCHD have a monthly-return correlation of 0.25, 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, BTOP or SCHD?
BTOP yields 2.32% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is SCHD better than BTOP?
SCHD has a lower expense ratio. BTOP led over the full window, SCHD over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.