BTOP vs VOO
Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | BTOP | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.03% | |
| AUM | $4M | $979.0B | |
| Dividend Yield | 2.32% | 1.09% | |
| Holdings | 5 | 509 | |
| YTD Return | +0.00% | +13.79% | |
| 1Y Return | -12.09% | +23.01% | |
| 3Y Return (annualized) | - | +21.78% | |
| 5Y Return (annualized) | - | +13.39% | |
| Volatility (annualized) | 53.5% | 14.1% | |
| Max Drawdown | -43.4% | -34.3% | |
| Fund Family | Bitwise | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 29, 2023 | Sep 7, 2010 |
BTOP vs VOO Performance
Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP) is a ETF from Bitwise and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year BTOP returned -12.09% while VOO returned +23.01%. Year to date, BTOP is up 0.00% versus a gain of 13.79% for VOO.
Risk: Volatility and Drawdowns
BTOP has been the more volatile fund, with annualized monthly volatility of 53.5% compared with 14.1% for VOO. 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 -34.3% for VOO. 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 VOO 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 VOO.
Holdings Overlap
BTOP and VOO 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 VOO?
BTOP has an expense ratio of 0.89% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, BTOP or VOO?
Over the past year BTOP returned -12.09% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (3 years), BTOP annualized +28.38% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, BTOP or VOO?
BTOP has been the more volatile fund at 53.5% annualized versus 14.1% for VOO. Worst drawdown: BTOP -43.4% vs VOO -34.3%.
Should I hold both BTOP and VOO?
BTOP and VOO 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 VOO?
BTOP and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, BTOP or VOO?
BTOP yields 2.32% while VOO yields 1.09%, so BTOP currently pays the higher dividend yield.
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