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Trending ETFs

Name

As of 05/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.47

$140 M

0.00%

0.85%

Vitals

YTD Return

-1.0%

1 yr return

72.6%

3 Yr Avg Return

-17.1%

5 Yr Avg Return

N/A

Net Assets

$140 M

Holdings in Top 10

61.5%

52 WEEK LOW AND HIGH

$11.4
$6.23
$13.56

Expenses

OPERATING FEES

Expense Ratio 0.85%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.47

$140 M

0.00%

0.85%

BITQ - Profile

Distributions

  • YTD Total Return -1.0%
  • 3 Yr Annualized Total Return -17.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Bitwise Crypto Industry Innovators ETF
  • Fund Family Name
    EXCHANGE TRADED CONCEPTS TRUST
  • Inception Date
    May 11, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Gabriel Tan

Fund Description

The Fund invests in securities comprising the Index and in depositary receipts representing securities of the Index. The Index was designed by Bitwise Index Services, LLC (the “Index Sponsor”) to measure the performance of companies involved in servicing the cryptocurrency markets, including crypto mining firms, crypto mining equipment suppliers, crypto financial services companies, or other financial institutions servicing primarily crypto-related clientele (i.e., the crypto ecosystem). Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) in securities of Crypto Innovators, as defined below.

In constructing the Index, the Index Sponsor identifies a two-tiered universe of companies as follows:

1) Tier 1 Companies (“Crypto Innovators”). Companies that: (a) derive more than 75% of their revenue directly from the crypto ecosystem; or (b) have more than 75% of their net assets accounted for by direct holdings of bitcoin, ether, or another liquid crypto asset and, in either case, are not involved in bankruptcy proceedings. Crypto Innovators will make up 85% of the Index at the time of each rebalance.
2) Tier 2 Companies. Companies that are not classified as Crypto Innovators, have a market capitalization of at least $10 billion, and either: (a) have a significant dedicated business initiative explicitly focused on the crypto ecosystem that is reported in at least one of the company’s official quarterly or annual filings from the past 12 months, including initiatives involving the purchase, sale, development, custody, mining, trading, transacting in, processing transactions with, or holding of crypto assets or derivative instruments that track the value of crypto assets; or (b) hold at least $100 million of bitcoin, ether, or another liquid crypto asset as a balance sheet asset. Tier 2 Companies will make up 15% of the Index at the time of each rebalance.

Companies identified as part of the universe described above are then subject to certain eligibility criteria, including that the company’s shares be listed on an eligible stock exchange, as determined by the Index Sponsor. Companies are also screened for size (companies must have a minimum market capitalization of at least $100 million at the time of initial inclusion), liquidity (shares must have a 3-month average daily traded value of at least $1 million), and free float (shares must have a free float, which refers to the portion of shares publicly available for purchase on the secondary market, of at least 10%). Shares of common stock, units, tracking stocks, American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) are eligible for inclusion in the Index. Where securities of eligible companies have multiple share classes listed on major exchanges, the most liquid share class is included as determined by the average daily traded value for the sixth month period preceding the date companies are screened for inclusion. The Index may include securities of non-U.S. issuers (including emerging market issuers), China A-shares (which are shares of mainland China-based companies that trade on the Chinese stock exchanges), and securities issued in an initial public offering (“IPO”). The Index may include companies that only have indirect involvement in the crypto ecosystem.

After applying the above screening criteria, the Index comprises the top 20 Crypto Innovators and the top 10 Tier 2 Companies, in each case selected by market capitalization. Crypto Innovators are weighted according to free float-adjusted market capitalization and Tier 2 Companies are equally weighted. For all companies included in the Index, the exposure to the securities of any single issuer is limited to 10%. The Index is reconstituted and rebalanced on a quarterly basis. If, in between quarterly rebalances, the cumulative weight of Crypto Innovators falls below 80% of the Index, the Index Sponsor will implement a special rebalance to restore the cumulative weight of Crypto Innovators to be 85% of the Index. As of July 3, 2023, the Index comprised 27 component securities with an average market capitalization of $47.17 billion.

The Fund will not invest in crypto assets directly or through the use of derivatives. The Fund also will not invest in initial coin offerings. The Fund may, however, have indirect exposure to crypto assets by virtue of its investments in companies that use one or more crypto assets as part of their business activities or that hold crypto assets as proprietary investments. Because the Fund will not invest directly in any cryptocurrency, it will not track price movements of any cryptocurrency.

The Fund employs a “passive management” investment strategy designed to track the performance of the Index. Exchange Traded Concepts, LLC (the “Adviser”) generally will use a replication methodology, meaning it will invest in all of the securities comprising the Index in proportion to their respective weightings in the Index. However, the Adviser may utilize a sampling methodology under various circumstances, including when it may not be possible or practicable to purchase all of the securities in the Index. The Adviser expects that over time, if the Fund has sufficient assets, the correlation between the Fund’s performance, before fees and expenses, and that of the Index will be 95% or better. A figure of 100% would indicate perfect correlation.

The Fund may invest up to 20% of its total assets in investments that are not included in the Index, but that the Adviser believes will help the Fund track the performance of the Index.

The Fund will concentrate its investments (i.e., invest more than 25% of its total assets) in a particular industry or group of industries to approximately the same extent that the Index concentrates in an industry or group of industries. As of July 3, 2023, the Index was concentrated in the Software Industry. In addition, in replicating the Index, the Fund may from time to time invest a significant portion of its assets in the securities of companies in one or more sectors. As of July 3, 2023, a significant portion of the Index consisted of companies in the Information Technology Sector and Financials Sector.

The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940 (the “1940 Act”) and, therefore, may invest a greater percentage of its assets in a particular issuer than a diversified fund.

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BITQ - Performance

Return Ranking - Trailing

Period BITQ Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -24.9% 7.0% 98.51%
1 Yr 72.6% -64.8% 21.6% N/A
3 Yr -17.1%* -31.8% 48.3% N/A
5 Yr N/A* -15.7% 35.1% N/A
10 Yr N/A* 4.5% 20.5% N/A

* Annualized

Return Ranking - Calendar

Period BITQ Return Category Return Low Category Return High Rank in Category (%)
2023 241.9% -41.2% 27.4% N/A
2022 -83.9% -34.0% 233.6% N/A
2021 N/A -31.4% 66.0% N/A
2020 N/A -52.1% 6.5% N/A
2019 N/A -8.2% 589.1% N/A

Total Return Ranking - Trailing

Period BITQ Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -51.7% 11.0% 94.03%
1 Yr 72.6% -64.8% 21.6% N/A
3 Yr -17.1%* -31.8% 48.3% N/A
5 Yr N/A* -15.7% 35.1% N/A
10 Yr N/A* 4.5% 20.5% N/A

* Annualized

Total Return Ranking - Calendar

Period BITQ Return Category Return Low Category Return High Rank in Category (%)
2023 246.8% -41.2% 27.4% N/A
2022 -83.9% -34.0% 233.6% N/A
2021 N/A -31.4% 66.0% N/A
2020 N/A -47.9% 6.5% N/A
2019 N/A -8.2% 589.1% N/A

BITQ - Holdings

Concentration Analysis

BITQ Category Low Category High BITQ % Rank
Net Assets 140 M 2.35 M 29.8 B 50.00%
Number of Holdings 30 1 389 60.27%
Net Assets in Top 10 88.2 M -5.3 M 5.86 B 42.47%
Weighting of Top 10 61.52% 7.8% 100.0% 28.99%

Top 10 Holdings

  1. MARATHON DIGITAL HOLDINGS IN COMMON STOCK 13.00%
  2. COINBASE GLOBAL INC -CLASS A COMMON STOCK 9.86%
  3. MICROSTRATEGY INC-CL A COMMON STOCK 9.07%
  4. BITFARMS LTD/CANADA COMMON STOCK 5.98%
  5. BAKKT HOLDINGS INC COMMON STOCK 4.05%
  6. HUT 8 CORP COMMON STOCK 4.00%
  7. APPLIED DIGITAL CORP COMMON STOCK 3.99%
  8. GALAXY DIGITAL HOLDINGS LTD COMMON STOCK 3.98%
  9. RIOT PLATFORMS INC COMMON STOCK 3.83%
  10. NORTHERN DATA AG COMMON STOCK 3.76%

Asset Allocation

Weighting Return Low Return High BITQ % Rank
Stocks
99.73% 0.00% 100.37% 49.32%
Cash
2.75% -0.37% 105.50% 49.32%
Preferred Stocks
0.00% 0.00% 29.30% 90.41%
Other
0.00% -5.50% 91.95% 89.04%
Convertible Bonds
0.00% 0.00% 3.35% 90.41%
Bonds
0.00% 0.00% 88.23% 90.41%

Stock Sector Breakdown

Weighting Return Low Return High BITQ % Rank
Utilities
0.00% 0.00% 82.46% 91.94%
Technology
0.00% 0.00% 75.55% 8.06%
Real Estate
0.00% 0.00% 57.04% 93.55%
Industrials
0.00% 0.00% 91.16% 98.39%
Healthcare
0.00% 0.00% 100.00% 91.94%
Financial Services
0.00% 0.00% 95.21% 6.45%
Energy
0.00% 0.00% 25.93% 88.71%
Communication Services
0.00% 0.00% 17.25% 91.94%
Consumer Defense
0.00% 0.00% 41.78% 93.55%
Consumer Cyclical
0.00% 0.00% 53.18% 69.35%
Basic Materials
0.00% 0.00% 23.22% 98.39%

Stock Geographic Breakdown

Weighting Return Low Return High BITQ % Rank
US
73.46% 0.00% 85.81% 20.55%
Non US
26.27% 0.00% 97.87% 60.27%

BITQ - Expenses

Operational Fees

BITQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.85% 0.22% 4.26% 32.91%
Management Fee 0.85% 0.25% 1.90% 79.45%
12b-1 Fee N/A 0.00% 1.00% 79.17%
Administrative Fee N/A 0.03% 0.19% N/A

Sales Fees

BITQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 2.25% N/A

Trading Fees

BITQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BITQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 210.00% N/A

BITQ - Distributions

Dividend Yield Analysis

BITQ Category Low Category High BITQ % Rank
Dividend Yield 0.00% 0.00% 24.54% 5.06%

Dividend Distribution Analysis

BITQ Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annually

Net Income Ratio Analysis

BITQ Category Low Category High BITQ % Rank
Net Income Ratio N/A -2.66% 5.19% N/A

Capital Gain Distribution Analysis

BITQ Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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BITQ - Fund Manager Analysis

Managers

Gabriel Tan


Start Date

Tenure

Tenure Rank

Apr 27, 2021

1.09

1.1%

Mr. Tan joined Exchange Traded Concepts, LLC in May 2019 as an Associate Portfolio Manager and was promoted to Portfolio Manager in December 2020. He began his career at UBS and BBR Partners where he worked as a financial planning analyst and a portfolio strategist for over four years. During his time there, he developed comprehensive wealth management solutions focused on portfolio optimization, trust and estate planning, and tax planning.

Todd Alberico


Start Date

Tenure

Tenure Rank

Apr 27, 2021

1.09

1.1%

Mr. Alberico joined Exchange Traded Concepts, LLC in November 2020, having spent the past 14 years in ETF trading at Goldman Sachs, Cantor Fitzgerald, and, most recently, Virtu Financial. He spent most of that time focused on the Trading and Portfolio Risk Management of ETFs exposed to international and domestic equity. He has worked on several different strategies including lead market-making and electronic trading, to customer facing institutional business developing models for block trading as well as transitional trades. Mr. Alberico graduated from St. John’s University in NY with a Bachelor of Science degree in Finance.

Andrew Serowik


Start Date

Tenure

Tenure Rank

Apr 27, 2021

1.09

1.1%

Mr. Serowik joined Exchange Traded Concepts, LLC from Goldman Sachs in May 2018. He began his career at Spear, Leeds & Kellogg, continuing with Goldman after its acquisition of SLK in September 2000. During his career of more than 18 years at the combined companies, he held various roles, including managing the global Quant ETF Strats team and One Delta ETF Strats. He designed and developed systems for portfolio risk calculation, algorithmic ETF trading, and execution monitoring, with experience across all asset classes. He graduated from the University of Michigan with a Bachelor of Business Administration degree in Finance.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.24 22.93 4.63 3.13