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LEGR vs OWNB

First Trust Indxx Innovative Transaction & Process ETF

LEGRBNasdaq

Bitwise Bitcoin Standard Corporations ETF

OWNBFNYSE Arca

Overlap

Expense ratio

LEGR −0.20pt a year

LEGR0.65%OWNB0.85%

Avg volume · 30D

LEGR 1.1×the volume

LEGR2.75KOWNB2.55K

LEGR vs OWNB Performance

Nov 7, 2025 – Nov 9, 2026

+16.8%LEGR−43.6%OWNB

Nov 7, 2025 to Nov 9, 2026. LEGR +16.8%. OWNB −43.6%. Use the arrow keys to read each point.−20%0%Nov 2025May 2026Nov 2026
Expense ratio
LEGR 0.65%, better
OWNB 0.85%
Fund size
LEGR $124M
OWNB $13M
1Y total return
LEGR +16.8%, better
OWNB −43.6%
Yield (12M)
LEGR 1.83%
OWNB No data
Holdings
LEGR 110
OWNB 24
Avg volume (30D)
LEGR 2.75K sh, better
OWNB 2.55K sh
NAV per share
LEGR $65.02
OWNB $16.87
52W range

ETF.net Grade

LEGR: Cost 55, Risk 90, Mission not scored, Tradability 39, Holdings 89, Durability 79. OWNB: Cost 13, Risk 26, Mission not scored, Tradability 35, Holdings 29, Durability 36.
Pillar letters and Scores for LEGR, OWNB, with each pillar’s weight
PillarLEGROWNB
Cost30% weightB55HigherF13
Mission25% weightNot scoredNot scored
Risk15% weightA90HigherD26
Tradability15% weightD39HigherD35
Holdings10% weightA89HigherD29
Durability5% weightA79HigherD36

Rank among Crypto Industry Stocks funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. LEGR and OWNB are both graded against the same 20 Crypto Industry Stocks funds, so their Grades compare head to head.

Crypto Industry Stocks⁠

Category · 20 funds
See all 20 ›

LEGR ranks 3rd and OWNB 20th of 20 funds in the Crypto Industry Stocks Category.

  1. Rank 1AFDIGFidelity Crypto Industry and Digital Payments ETFScore 77
  2. Rank 1ASTCESchwab Crypto Thematic ETFScore 77
  3. Rank 3BLEGRFirst Trust Indxx Innovative Transaction & Process ETFScore 65
  4. Rank 4BDAPPVanEck Digital Transformation ETFScore 63
  5. Rank 19DCRPTFirst Trust SkyBridge Crypto Industry and Digital Economy ETFScore 30
  6. Rank 20FOWNBBitwise Bitcoin Standard Corporations ETFScore 23

Our read on each fund

ETF.net Research

LEGRBFirst Trust Indxx Innovative Transaction & Process ETF

OWNBFBitwise Bitcoin Standard Corporations ETF

In short

LEGR Blockchain, hold the coins. LEGR has tracked the Indxx Blockchain Index since January 2018, owning roughly 110 global companies that build with the technology or stand to benefit from it, rather than the tokens themselves.

OWNB Most crypto equity funds buy the miners and the exchanges. This one buys the balance sheet: public companies holding at least 1,000 bitcoin in treasury, weighted by the coins they own rather than by market cap. Bitwise launched it in 2025 as a first of its kind.

Stated mandate

LEGR The Fund seeks to track the performance of the Indxx Blockchain Index before fees and expenses. The index targets companies involved with blockchain technology or positioned to benefit from its use in business processes.

OWNB The fund seeks to track the Bitwise Bitcoin Standard Corporations Index before fees and expenses. The index selects publicly traded companies meeting bitcoin-treasury, size, liquidity, and free-float requirements.

Why people hold it

  • LEGR A first-wave name: launched January 2018, and it has tracked the same blockchain index through a full crypto boom and bust.
  • Picks and shovels, not whitepapers: roughly 110 global stocks either working with blockchain or positioned to benefit from it inside their own business processes.
  • Spreading the theme across about 110 operating companies keeps any single name from dominating, and the fund sits in the upper half of its global thematic peer group.
  • OWNB A hard rule, not a theme: a company needs at least 1,000 bitcoin on its books to qualify, and weights track the size of the coin stack, subject to caps.businesswire.com
  • Global reach: at launch the basket held Tokyo, Hong Kong and Oslo-listed treasury owners, exposure that is fiddly to assemble in a US brokerage account.businesswire.com
  • Roughly 26 stocks, rebalanced quarterly, so new treasury converts can enter and companies that shed their coins fall out.coindesk.com

Worth knowing

  • LEGR The 0.65% expense ratio sits above the typical fee among global thematic ETFs, and several funds in that group charge a fraction of it.
  • It trades thinly, so bid-ask spreads can run wider than on giant ETFs. Limit orders do real work here.
  • Stocks, not coins. Crypto moves reach this fund only through share prices of companies where blockchain may be one line in a much larger business.
  • OWNB At 0.85% a year it prices above the crypto-equity median of 0.69%, and well above broad blockchain rivals like BKCH at 0.50%.
  • Weighting by coins owned puts one dominant treasury holder at the top of the book, so a single company's story can move the fund as much as bitcoin does.businesswire.comcoindesk.com
  • It launched in 2025 and stays small and thinly traded, so spreads can run wider than in established funds and the record is short.

Full LEGR profile⁠

Full OWNB profile⁠

LEGR vs OWNB Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

LEGR vs OWNB Cost

Overpaying OWNB vs LEGR

$3,482

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • LEGR 0.65%

    $12,717

  • OWNB 0.85%

    $16,199

$10,000
30 years

Cost over time

  • LEGR 0.65%
  • OWNB 0.85%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530OWNB $16,199LEGR $12,717

Year by year

YearLEGROWNBOverpaying
10$1,163$1,508$345
20$4,440$5,706$1,266
30$12,717$16,199$3,482

Expense ratio

  • 0.65%LEGR, cheaper
  • 0.85%OWNB
  • Middle half of Crypto Industry Stocks funds
  • Median 0.66%

LEGR 8th cheapest of 20 funds

OWNB 16th cheapest of 20 funds

LEGR vs OWNB Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
LEGR 1.83%
OWNB No data
Payout (12M)
LEGR $1.20
OWNB No data
Last payment
LEGR $0.18
OWNB $0.19
Ex-dividend
LEGR Sep 24, 2026
OWNB Dec 8, 2025
Paid on
LEGR Sep 30, 2026
OWNB Dec 10, 2025
Frequency
LEGR Quarterly
OWNB Irregular

Distribution history

Per share, 2018 to 2026, same scale for both

LEGRQuarterly · 35 paymentsAll LEGR payments⁠
One bar per payment. 35 payments from 2018 to 2026 YTD. Mar 22, 2018 $0.01; Jun 21, 2018 $0.12; Sep 14, 2018 $0.10; Dec 18, 2018 $0.10; Mar 21, 2019 $0.08; Jun 14, 2019 $0.20; Sep 25, 2019 $0.27; Dec 13, 2019 $0.11; Mar 26, 2020 $0.03; Jun 25, 2020 $0.14; Sep 24, 2020 $0.09; Dec 24, 2020 $0.10; Mar 25, 2021 $0.03; Jun 24, 2021 $0.27; Sep 23, 2021 $0.17; Dec 23, 2021 $0.32; Mar 25, 2022 $0.06; Jun 24, 2022 $0.51; Sep 23, 2022 $0.24; Dec 23, 2022 $0.09; Mar 24, 2023 $0.11; Jun 27, 2023 $0.48; Sep 22, 2023 $0.28; Dec 22, 2023 $0.17; Mar 21, 2024 $0.09; Jun 27, 2024 $0.54; Sep 26, 2024 $0.26; Dec 13, 2024 $0.22; Mar 27, 2025 $0.13; Jun 26, 2025 $0.56; Sep 25, 2025 $0.15; Dec 12, 2025 $0.26; Mar 26, 2026 $0.14; Jun 25, 2026 $0.62; Sep 24, 2026 $0.18. Use the arrow keys to read each point.$0$0.50202020232026YTD
OWNBIrregular · 1 paymentAll OWNB payments⁠
One bar per payment. 1 payment from 2018 to 2026 YTD. Dec 8, 2025 $0.19. Use the arrow keys to read each point.$0$0.50202020232026YTD

LEGR vs OWNB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
LEGR 11.7%OWNB 53.9%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
LEGR 1.59OWNB −0.06since Apr 2025
Worst fallMax drawdown, 5 years
LEGR −31.5%OWNB −59.5%since Mar 2025
Market sensitivityBeta, 5 years
LEGR 0.90OWNB 3.23

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