GBTC vs. BITO

The year-to-date returns for both stocks are quite close, with GBTC having a -22.40% return and BITO slightly lower at -22.79%.

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This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust (BTC) (GBTC) and ProShares Bitcoin Strategy ETF (BITO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

The current GBTC Sharpe Ratio is -0.47, which is comparable to the BITO Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of GBTC and BITO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

The correlation between GBTC and BITO is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

GBTC has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 80.47%.

The maximum GBTC drawdown since its inception was -89.91%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for GBTC and BITO.

Grayscale Bitcoin Trust (BTC) (GBTC) and ProShares Bitcoin Strategy ETF (BITO) have volatilities of 12.99% and 12.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.