^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 5.66%/yr vs 49.81%/yr for GBTC. Their 0.07 correlation means their historical movements had little consistent relationship.
Performance
^UTY vs. GBTC - Performance Comparison
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Returns By Period
In the year-to-date period, ^UTY achieves a 4.57% return, which is significantly higher than GBTC's -27.69% return. Over the past 10 years, ^UTY has underperformed GBTC with an annualized return of 5.66%, while GBTC has yielded a comparatively higher 49.81% annualized return.
^UTY
- 1D
- -0.14%
- 1M
- -3.04%
- 6M
- 4.42%
- YTD
- 4.57%
- 1Y
- 4.80%
- 3Y*
- 10.78%
- 5Y*
- 5.08%
- 10Y*
- 5.66%
- ALL TIME*
- 4.68%
GBTC
- 1D
- 1.44%
- 1M
- 3.76%
- 6M
- -18.73%
- YTD
- -27.69%
- 1Y
- -44.39%
- 3Y*
- 37.01%
- 5Y*
- 8.32%
- 10Y*
- 49.81%
- ALL TIME*
- 54.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $78.35M | $76.63M | $100.73M |
^UTY vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^UTY PHLX Utility Sector Index | 4.57% | 13.45% | 16.89% | -12.33% | -2.35% | 14.64% | -0.62% | 22.62% | -0.16% | 8.96% |
GBTC Grayscale Bitcoin Trust ETF | -27.69% | -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 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 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 | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.84 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | -0.83 | +1.35 |
| Martin ratioReturn relative to average drawdown | 1.05 | -1.27 | +2.32 |
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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% | -53.75% | +44.47% |
Max Drawdown (3Y)Largest decline over 3 years | -13.75% | -53.75% | +40.00% |
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 | -6.06% | -49.78% | +43.72% |
Average DrawdownAverage peak-to-trough decline | -12.43% | -43.51% | +31.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.57% | 35.06% | -30.49% |
Volatility
^UTY vs. GBTC - Volatility Comparison
The current volatility for PHLX Utility Sector Index (^UTY) is 4.11%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 8.85%. 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 | 4.11% | 8.85% | -4.74% |
Volatility (6M)Calculated over the trailing 6-month period | 12.21% | 33.72% | -21.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.94% | 44.38% | -29.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 60.56% | -43.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.57% | 81.19% | -61.62% |
Frequently Asked Questions
^UTY and GBTC have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (8.85%) compared to ^UTY (4.11%). In terms of maximum drawdown, ^UTY dropped -48.16% vs GBTC's -89.91%.
^UTY currently has the higher Sharpe Ratio (0.32 vs -1.01), 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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