BWEBvsMMTMETF Comparison
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Bitwise Web3 ETF (BWEB) belongs to the Next Generation Internet segment. State Street SPDR S&P 1500 Momentum Tilt ETF (MMTM) is part of the US Multi-Factor segment. Both ETFs have the same top 3 sector exposures: Information Technology, Communication Services and Financials. BWEB is more expensive with a Total Expense Ratio (TER) of 0.85%, versus 0.12% for MMTM. BWEB is up 4.38% year-to-date (YTD) with - in YTD flows. MMTM performs better with 6.78% YTD performance, and -$9M in YTD flows. Run a side-by-side ETF comparison of BWEB and MMTM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BWEB vs MMTM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BWEB MMTM | +12.76%+13.70% | +0.75%+3.93% | +4.38%+6.78% | +44.77%+31.63% | +159.83%+86.87% | n/a+85.73% |
| Flows | BWEB MMTM | --$4M | --$10M | --$9M | +$2M-$14M | +$4M+$24M | -+$16M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BWEB MMTM | +41.67%+18.45% | +33.26%+14.71% | +34.01%+17.73% | n/a+18.39% |
| Max drawdown | BWEB MMTM | -19.49%-9.89% | -31.43%-9.89% | -33.28%-21.93% | n/a-23.80% |
| Max drawdown duration | BWEB MMTM | 79d44d | 179d44d | 194d155d | n/a708d |
Trading data
BWEB | MMTM | |
Last sale 4/28/2026 at 1:30 PM | $71.91 | $310.93 |
| Previous close 04/27/2026 | $73.50 | $311.02 |
| Consolidated volume 04/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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BWEB | MMTM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/28/2026 at 1:30 PM
Live
Closed
BWEB | MMTM | |
|---|---|---|
| Last price | $71.91 | $310.93 |
| 1D performance | -2.15% | -0.03% |
| AuM | $6.20 M | $164.78 M |
| E/R | 0.85% | 0.12% |
Characteristics
BWEB | MMTM | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Bitwise | State Street Investment Management |
| Benchmark | Bitwise Web3 Equities Index | S&P 1500 Positive Momentum Tilt Index |
| N° of holdings | 30 | 1386 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 4, 2022 | October 24, 2012 |
| ESG | No | No |
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Exposure
Countries
BWEB
USA
71.47%
Other
28.53%
MMTM
USA
97.31%
Other
2.69%
Sectors
BWEB
Information Techn.
31.51%
Communication Ser.
25.75%
Financials
8.67%
Other
34.07%
MMTM
Information Techn.
40.58%
Communication Ser.
10.33%
Financials
10.12%
Industrials
8.8%
Health Care
8.66%
Other
21.51%
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Diversification
BWEB
Total weight of top 15 holdings out of 15
55.63%
MMTM
Total weight of top 15 holdings out of 15
48.06%
Top 15 holdings
Data as of March 31, 2026
BWEB
ROBLOX
7.42%
META PLATFORMS
7.40%
CLOUDFLARE INC
4.96%
EQUINIX INC COMMON STOCK REIT
4.91%
ELECTRONIC ARTS
4.70%
TAKE TWO
3.34%
UNITY SOFTWARE
3.34%
ROBINHOOD MARKETS
3.28%
COINBASE GLOBAL
3.23%
BLOCK INC
3.02%
APPLIED BLOCKCHAIN
2.44%
TERAWULF INC
2.20%
CIPHER MINING INC
1.87%
HUT 8 MINING CORP
1.78%
EXXON
1.76%
MMTM
NVIDIA
12.19%
APPLE
5.82%
MICROSOFT-T
5.20%
ALPHABET INC-CL
4.54%
BROADCOM LIMITED
4.46%
ALPHABET INC-CL
3.42%
JPMORGAN CHASE
1.76%
LILLY
1.74%
AMAZON.COM INC
1.50%
TESLA
1.46%
JOHNSON&JOHNSON
1.41%
EXXON
1.22%
MICRON TECHNOLOGY
1.22%
PALANTIR TECHNOLOGIES
1.07%
ADVANCED MICRO DEVICES
1.06%
Frequently asked questions about BWEB and MMTM
How have the BWEB and MMTM ETFs performed in 2026?
As of April 24, 2026, BWEB is up 4.38% year-to-date (YTD), while MMTM has returned 6.78%. That puts MMTM better performer ahead so far this year.
Which ETF is attracting more investor money: BWEB or MMTM?
Year-to-date, the BWEB ETF saw - in flows, compared to -$9M for MMTM.
Which ETF is more volatile: BWEB or MMTM?
Over the past year, BWEB had a volatility of 33.26%, while MMTM experienced 14.71%.
Which ETF is bigger: BWEB or MMTM?
As of April 24, 2026, BWEB holds $6.20 M in assets under management (AUM), while MMTM manages $164.78 M.
What sectors do the BWEB and MMTM ETFs invest in?
BWEB leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, MMTM focuses on Information Technology, Communication Services and Financials.
What are the top holdings of the BWEB ETF and MMTM ETF?
BWEB top holdings include ROBLOX, META PLATFORMS and CLOUDFLARE INC. MMTM holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: BWEB or MMTM?
BWEB holds 31 securities with 55.63% of its assets in the top 15. MMTM has 1468 securities and a top 15 weight of 48.06%.
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Latest news about BWEB & MMTM
Learn about Web 3 with the Bitwise Web3 ETF
December 12, 2022
BWEB
Bitwise Asset Management's Matthew Hougan
December 5, 2022
BWEB
Strategies for Investing in Web3 and Combating Surging Interest Rates
November 15, 2022
BWEB
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