^UTY vs. GBTC
^UTY (PHLX Utility Sector Index) is an index, while GBTC (Grayscale Bitcoin Trust ETF) is Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. Over the past 10 years, ^UTY returned 5.93%/yr vs 44.88%/yr for GBTC. At a 0.08 correlation, their price movements are largely independent.
Performance
^UTY vs. GBTC - Performance Comparison
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Returns By Period
In the year-to-date period, ^UTY achieves a 6.10% return, which is significantly higher than GBTC's -29.27% return. Over the past 10 years, ^UTY has underperformed GBTC with an annualized return of 5.93%, while GBTC has yielded a comparatively higher 44.88% annualized return.
^UTY
- 1D
- 0.97%
- 1M
- -0.53%
- YTD
- 6.10%
- 6M
- 6.28%
- 1Y
- 11.86%
- 3Y*
- 10.50%
- 5Y*
- 6.60%
- 10Y*
- 5.93%
GBTC
- 1D
- -3.22%
- 1M
- -17.84%
- YTD
- -29.27%
- 6M
- -29.42%
- 1Y
- -40.53%
- 3Y*
- 36.07%
- 5Y*
- 10.30%
- 10Y*
- 44.88%
^UTY vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^UTY PHLX Utility Sector Index | 6.10% | 13.45% | 16.89% | -12.33% | -2.35% | 14.64% | -0.62% | 22.62% | -0.16% | 8.96% |
GBTC Grayscale Bitcoin Trust ETF | -29.27% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
Correlation
The correlation between ^UTY and GBTC is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since May 4, 2015 | 0.08 |
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Return for Risk
^UTY vs. GBTC — Risk / Return Rank
^UTY
GBTC
^UTY vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PHLX Utility Sector Index (^UTY) and Grayscale Bitcoin Trust ETF (GBTC). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^UTY | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.86 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | -0.78 | +2.06 |
| Martin ratioReturn relative to average drawdown | 2.72 | -1.32 | +4.03 |
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Drawdowns
^UTY vs. GBTC - Drawdown Comparison
The maximum ^UTY drawdown since its inception was -48.16%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for ^UTY and GBTC.
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Drawdown Indicators
| ^UTY | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.16% | -89.91% | +41.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.28% | -52.45% | +43.17% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -52.45% | +33.95% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -85.42% | +56.30% |
Max Drawdown (10Y)Largest decline over 10 years | -36.10% | -89.91% | +53.81% |
Current DrawdownCurrent decline from peak | -4.69% | -50.88% | +46.19% |
Average DrawdownAverage peak-to-trough decline | -12.45% | -43.44% | +30.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 30.79% | -26.42% |
Volatility
^UTY vs. GBTC - Volatility Comparison
The current volatility for PHLX Utility Sector Index (^UTY) is 5.49%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 13.05%. This indicates that ^UTY experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^UTY | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 13.05% | -7.56% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 34.57% | -22.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.59% | 44.21% | -29.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.49% | 62.13% | -44.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 81.46% | -61.91% |
Frequently Asked Questions
^UTY and GBTC have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (13.05%) compared to ^UTY (5.49%). In terms of maximum drawdown, ^UTY dropped -48.16% vs GBTC's -89.91%.
^UTY currently has the higher Sharpe Ratio (0.82 vs -0.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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