BWEB
Bitwise Web3 ETF
BWEB tracks a tier-weighted index of companies connected to the global Web 3.0 industry. The selection process is overseen by a committee.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
3.7 M
ASSETS UNDER MGMT
85 bp
EXPENSES
Fund Basics
Fund sponsor | Bitwise Asset Management, Inc. |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Oct 04, 2022 |
Assets (mns) | $4 |
Expense ratio | 85 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Annually |
Taxation | 1099 |
Stock selection | Committee |
Weighting | Tiered |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | No |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
ROBLOX CORP. CLASS A | 9.1 % |
EQUINIX INC | 8.2 % |
COINBASE GLOBAL, INC. CLASS A | 8.0 % |
SHOPIFY, INC. CLASS A | 7.8 % |
META PLATFORMS INC | 7.6 % |
CLOUDFLARE INC CLASS A | 4.8 % |
ELECTRONIC ARTS INC | 4.8 % |
MARATHON DIGITAL HOLDINGS INC | 4.3 % |
BLOCK INC. | 4.2 % |
TAKE-TWO INTERACTIVE SOFTWRE | 4.1 % |
Constituent Breakdown
Number of holdings | 43 |
Herfindahl-Hirschman Index | 509 |
Wgt avg mkt cap (mns) | $287,827 |
Large cap (>$10bn) | 78.6% |
Mid cap ($2-10bn) | 12.1% |
Small cap (<$2bn) | 9.3% |
Developed mkts. | 97.0% |
Emerging mkts. | 3.0% |
Country Exposure
UNITED STATES | 83.4 % | |
CANADA | 8.9 % | |
FRANCE | 2.6 % | |
CHINA | 1.8 % | |
TAIWAN | 1.5 % | |
GERMANY | 1.1 % | |
AUSTRALIA | 0.9 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 33.0% | 56.9% | -- | -- | -- | -- | 52.2% | Volatility | 30.3% | 30.7% | 34.7% | -- | -- | -- | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 2.51 | 71% |
MSCI EAFE | 1.69 | 36% |
MSCI Emg Mkts | 1.90 | 46% |
Liquidity Measures
Avg. volume (000) | 2 |
Turnover | 3.1% |
Avg. Bid/Ask (% of price) | 0.21% |
ADV of underlying (mns) | $64,894 |
Technical Indicators
Recent close | $57.55 |
30d moving avg. | $59.40 |
Annualized volatility | 40.1% |
Relative strength (RSI) | 55 |
Short interest (ETF) | 0.0% |
Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. BWEB |
Expenses vs. BWEB |
ALTAR Score™ vs. BWEB |
---|---|---|---|---|
ARKW | ARK Next Generation Internet ETF | 35.6% | +2 bp | -1.4% |
GFOF | Grayscale Future of Finance ETF | 32.6% | -15 bp | -1.5% |
METV | Roundhill Ball Metaverse ETF | 31.9% | -26 bp | +2.6% |
BLCN | Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 31.9% | -17 bp | +1.7% |
BKCH | Global X Blockchain ETF | 31.2% | -35 bp | -3.9% |
BLOK | Amplify Transformational Data Sharing ETF | 30.7% | -10 bp | -0.1% |
ARKF | ARK Fintech Innovation ETF | 30.5% | -10 bp | -1.0% |
IBLC | iShares Blockchain and Tech ETF | 29.8% | -38 bp | -2.5% |
ARKK | ARK Innovation ETF | 29.3% | -10 bp | -3.9% |
DAPP | VanEck Digital Transformation ETF | 29.2% | -35 bp | -3.8% |
Risk and Returns: BWEB vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 12/20/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BWEB
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
BWEB
0.8%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. BWEB's ALTAR Score™ is approximately
1.9 standard deviations
below
the category average. This places BWEB in the 3rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BWEBSELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Rules-Based US Equity ETFs |
# of ETFs | 609 |
Avg. Expense Ratio | 46.6 bp |
Std. Deviation | 32.9 bp |
BWEB (85 bp) Percentile rank | 88 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
BWEB | 85.0 | 20.5 | 105.5 |
Peer Avg. | 44.0 | 16.8 | 60.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .