BITB vs NMZ
Comparison between Bitwise Bitcoin ETF (BITB, ETF) and Nuveen Municipal High Income Opportunity Fund (NMZ, ETF).
BITB vs NMZ - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
BITB
$2.10B
Winner
NMZ
$2.20B
Expense Ratio
BITB
0.20%
NMZ
N/A
Max Drawdown
Winner
BITB
53.33%
NMZ
63.45%
Sharpe Ratio
BITB
-1.17
Winner
NMZ
0.68
5Y Beta
BITB
1.19
Winner
NMZ
0.23
5Y Dividends CAGR
BITB
N/A
NMZ
2.41%
BITB vs NMZ - Historical Returns
Returns include dividend reinvestment.
1M
Winner
BITB
+1.76%
NMZ
-1.48%
3M
BITB
-19.03%
Winner
NMZ
+2.52%
6M
BITB
-7.36%
Winner
NMZ
+1.39%
1Y
BITB
-44.92%
Winner
NMZ
+10.50%
5Y(CAGR)
BITB
N/A
NMZ
-1.74%
10Y(CAGR)
BITB
N/A
NMZ
+2.13%
Max(CAGR)
Winner
BITB
+13.34%
NMZ
+4.98%
BITB vs NMZ - Annual Returns (2003 - 2026)
Returns include dividend reinvestment.
| Year | BITB | NMZ |
|---|---|---|
| 2026 | -27.79% | +5.43% |
| 2025 | -10.26% | +0.23% |
| 2024 | +99.10% | +15.82% |
| 2023 | N/A | -1.16% |
| 2022 | N/A | -27.24% |
| 2021 | N/A | +12.04% |
| 2020 | N/A | +7.47% |
| 2019 | N/A | +25.87% |
| 2018 | N/A | -9.94% |
| 2017 | N/A | +12.41% |
| 2016 | N/A | -1.39% |
| 2015 | N/A | +9.91% |
| 2014 | N/A | +19.39% |
| 2013 | N/A | -9.82% |
| 2012 | N/A | +23.60% |
| 2011 | N/A | +15.64% |
| 2010 | N/A | -0.99% |
| 2009 | N/A | +49.88% |
| 2008 | N/A | -35.08% |
| 2007 | N/A | -8.16% |
| 2006 | N/A | +16.86% |
| 2005 | N/A | +14.20% |
| 2004 | N/A | +9.13% |
| 2003 | N/A | +0.00% |
BITB vs NMZ Drawdown Comparison
The maximum drawdown for BITB was -53.33%, occurring on Jun 30, 2026. This drawdown has not yet recovered.
The maximum drawdown for NMZ was -58.44%, occurring on Dec 16, 2008. Recovery took 1179 trading sessions.
The current BITB drawdown is -48.38%. The current NMZ drawdown is -10.39%.
| Rank | BITB | NMZ |
|---|---|---|
| #1 | -53.33% Oct 6, 2025 - Jun 30, 2026 | -58.44% May 11, 2007 - Jan 13, 2012 |
| #2 | -28.19% Dec 17, 2024 - May 20, 2025 | -40.01% Jul 13, 2021 - Oct 27, 2023 |
| #3 | -27.44% Mar 13, 2024 - Nov 6, 2024 | -32.56% Feb 20, 2020 - Dec 30, 2020 |
| #4 | -16.25% Jan 11, 2024 - Feb 9, 2024 | -22.40% Jan 24, 2013 - May 13, 2014 |
| #5 | -11.96% Aug 13, 2025 - Oct 6, 2025 | -15.03% Jul 8, 2016 - Mar 8, 2019 |
| #6 | -8.50% Mar 4, 2024 - Mar 7, 2024 | -12.78% Mar 17, 2004 - Oct 14, 2004 |
| #7 | -8.45% Nov 22, 2024 - Dec 6, 2024 | -6.78% Feb 2, 2015 - Sep 22, 2015 |
| #8 | -8.38% May 22, 2025 - Jul 9, 2025 | -5.68% Feb 2, 2012 - Mar 28, 2012 |
| #9 | -5.73% Jul 14, 2025 - Aug 13, 2025 | -5.52% Feb 11, 2021 - Apr 13, 2021 |
| #10 | -5.30% Dec 6, 2024 - Dec 13, 2024 | -5.15% Jun 2, 2006 - Aug 8, 2006 |
| #11 | -2.48% Nov 13, 2024 - Nov 15, 2024 | -5.05% Aug 12, 2019 - Nov 11, 2019 |
| #12 | -1.94% Feb 20, 2024 - Feb 22, 2024 | -4.75% Nov 1, 2012 - Dec 5, 2012 |
| #13 | -1.83% Feb 22, 2024 - Feb 26, 2024 | -4.52% May 28, 2014 - Oct 20, 2014 |
| #14 | -1.50% Feb 12, 2024 - Feb 14, 2024 | -4.47% Dec 13, 2012 - Jan 4, 2013 |
| #15 | -0.94% Mar 11, 2024 - Mar 13, 2024 | -4.05% Jul 31, 2012 - Sep 18, 2012 |
Correlation
Correlation between BITB and NMZ is 0.18 which considered as a very weak or no correlation - the stocks move independently of each other.
0.18
-101
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