BAVA vs MARB

Comparison between Bitwise Avalanche ETF (BAVA, ETF) and FIRST TRUST MERGER ARBITRAGE ETF (MARB, ETF).

BAVA vs MARB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BAVA(ETF)	MARB(ETF)
Net Assets	$16M	$16M
Expense Ratio	0.34%	0.95%
Max Drawdown	40.15%	11.99%
Sharpe Ratio	-1.06	0.10
5Y Beta	1.96	0.03

Net Assets

Winner

BAVA

$16M

MARB

$16M

Expense Ratio

Winner

BAVA

0.34%

MARB

0.95%

Max Drawdown

BAVA

40.15%

Winner

MARB

11.99%

Sharpe Ratio

BAVA

-1.06

Winner

MARB

0.10

5Y Beta

BAVA

1.96

Winner

MARB

0.03

BAVA vs MARB - Historical Returns

Returns include dividend reinvestment.

Period	BAVA	MARB
1 month	+20.00%	+0.00%
3 months	-17.79%	+0.54%
6 months	N/A	+1.50%
1 year	N/A	+4.24%
5 years(CAGR)	N/A	+3.14%
Max(CAGR)	-46.78%	+2.02%

Winner

BAVA

+20.00%

MARB

+0.00%

BAVA

-17.79%

Winner

MARB

+0.54%

BAVA

N/A

MARB

+1.50%

BAVA

N/A

MARB

+4.24%

5Y(CAGR)

BAVA

N/A

MARB

+3.14%

Max(CAGR)

BAVA

-46.78%

Winner

MARB

+2.02%

BAVA vs MARB - Annual Returns (2020 - 2026)

Returns include dividend reinvestment.

Year	BAVA	MARB
2026	-20.38%	+1.96%
2025	N/A	+7.15%
2024	N/A	+0.87%
2023	N/A	+2.02%
2022	N/A	+4.08%
2021	N/A	+0.32%
2020	N/A	-2.35%

BAVA vs MARB Drawdown Comparison

The maximum drawdown for BAVA was -40.15%, occurring on Jun 25, 2026. This drawdown has not yet recovered.

The maximum drawdown for MARB was -11.99%, occurring on Mar 18, 2020. Recovery took 545 trading sessions.

The current BAVA drawdown is -26.22%.

Rank	BAVA	MARB
#1	-40.15% May 11, 2026 - Jun 25, 2026	-11.99% Feb 21, 2020 - Apr 20, 2022
#2	-8.30% Apr 16, 2026 - May 8, 2026	-3.67% Dec 21, 2023 - Dec 24, 2024
#3	N/A	-3.45% Feb 23, 2023 - Aug 28, 2023
#4	N/A	-3.19% Apr 20, 2022 - Aug 10, 2022
#5	N/A	-2.43% Jul 14, 2025 - Jul 22, 2025
#6	N/A	-1.80% Feb 28, 2025 - Apr 28, 2025
#7	N/A	-1.71% Nov 1, 2022 - Feb 22, 2023
#8	N/A	-1.28% Sep 13, 2022 - Oct 24, 2022
#9	N/A	-1.23% Oct 30, 2025 - Nov 7, 2025
#10	N/A	-1.15% Jan 24, 2025 - Feb 13, 2025
#11	N/A	-1.14% Oct 17, 2023 - Dec 8, 2023
#12	N/A	-1.01% Apr 6, 2026 - Apr 9, 2026
#13	N/A	-0.91% Aug 21, 2025 - Oct 2, 2025
#14	N/A	-0.82% Jan 23, 2026 - Apr 1, 2026
#15	N/A	-0.79% Nov 7, 2025 - Nov 11, 2025

Correlation

Correlation between BAVA and MARB is -0.94 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.

-0.94

-101