BWEBvsNLSIETF Comparison
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Bitwise Web3 ETF (BWEB) belongs to the Next Generation Internet segment. NEOS Long/Short Equity Income ETF (NLSI) is part of the Alternatives segment. Both ETFs have the same top 3 sector exposures: Information Technology, Communication Services and Financials. BWEB is less expensive with a Total Expense Ratio (TER) of 0.85%, versus 2.89% for NLSI. BWEB is up 0.77% year-to-date (YTD) with - in YTD flows. NLSI performs worse with -5.11% YTD performance, and -$3M in YTD flows. Run a side-by-side ETF comparison of BWEB and NLSI 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 NLSI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BWEB NLSI | +18.13%+5.06% | -3.43%-0.69% | +0.77%-5.11% | +37.16%n/a | +155.43%n/a | n/an/a |
| Flows | BWEB NLSI | --$457K | --$2M | --$3M | +$2M- | +$4M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BWEB NLSI | +41.63%+21.38% | +33.32%n/a | +33.99%n/a | n/an/a |
| Max drawdown | BWEB NLSI | -18.25%-9.08% | -31.43%n/a | -33.28%n/a | n/an/a |
| Max drawdown duration | BWEB NLSI | 77d57d | 184dn/a | 194dn/a | n/an/a |
Trading data
BWEB | NLSI | |
Last sale 5/1/2026 at 1:30 PM | $72.01 | |
| Previous close 04/29/2026 | $71.77 | |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of April 29, 2026
1-year trailing difference
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NLSI
is actively managed and doesn’t replicate an indexBWEB | NLSI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 5/1/2026 at 1:30 PM
Live
Closed
BWEB | NLSI | |
|---|---|---|
| Last price | $72.01 | – |
| 1D performance | +0.34% | – |
| AuM | $5.99 M | $1.91 M |
| E/R | 0.85% | 2.89% |
Characteristics
BWEB | NLSI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Bitwise | NEOS Investment Management |
| Benchmark | Bitwise Web3 Equities Index | - |
| N° of holdings | 30 | 59 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 4, 2022 | December 10, 2025 |
| ESG | No | No |
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Exposure
Countries
BWEB
USA
71.47%
Other
28.53%
NLSI
Data will be available soon
Sectors
BWEB
Information Techn.
31.51%
Communication Ser.
25.75%
Financials
8.67%
Other
34.07%
NLSI
Data will be available soon
Diversification
BWEB
Total weight of top 15 holdings out of 15
55.63%
NLSI
Data will be available soon
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%
NLSI
Data will be available soon
Frequently asked questions about BWEB and NLSI
How have the BWEB and NLSI ETFs performed in 2026?
As of April 29, 2026, BWEB is up 0.77% year-to-date (YTD), while NLSI has lost -5.11%. That puts BWEB better performer ahead so far this year.
Which ETF is attracting more investor money: BWEB or NLSI?
Year-to-date, the BWEB ETF saw - in flows, compared to -$3M for NLSI.
Which ETF is bigger: BWEB or NLSI?
As of April 29, 2026, BWEB holds $5.99 M in assets under management (AUM), while NLSI manages $1.91 M.
What sectors do the BWEB and NLSI ETFs invest in?
BWEB leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, NLSI focuses on Information Technology, Communication Services and Financials.
What are the top holdings of the BWEB ETF and NLSI ETF?
BWEB top holdings include ROBLOX, META PLATFORMS and CLOUDFLARE INC. NLSI holds in its top three: MICRON TECHNOLOGY, OCCIDENTAL U and T-MOBILE US INC.
Which ETF is more diversified: BWEB or NLSI?
BWEB holds 31 securities with 55.63% of its assets in the top 15. NLSI has 60 securities and a top 15 weight of 64.38%.
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Latest news about BWEB & NLSI
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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