AIRR vs. IBIT
AIRR (First Trust RBA American Industrial Renaissance ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, AIRR returned 65.25% vs -40.63% for IBIT. At a 0.38 correlation, their price movements are largely independent. AIRR charges 0.69%/yr vs 0.25%/yr for IBIT.
Performance
AIRR vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, AIRR achieves a 31.74% return, which is significantly higher than IBIT's -27.41% return.
AIRR
- 1D
- 0.83%
- 1M
- -0.02%
- YTD
- 31.74%
- 6M
- 28.77%
- 1Y
- 65.25%
- 3Y*
- 35.29%
- 5Y*
- 25.46%
- 10Y*
- 22.05%
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIRR vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 31.74% | 27.92% | 39.20% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between AIRR and IBIT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.38 |
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Return for Risk
AIRR vs. IBIT — Risk / Return Rank
AIRR
IBIT
AIRR vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and iShares Bitcoin Trust ETF (IBIT). 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.
| AIRR | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.43 | ||
| Sortino ratioReturn per unit of downside risk | +4.53 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.85 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 5.01 | -0.78 | +5.79 |
| Martin ratioReturn relative to average drawdown | 18.33 | -1.37 | +19.70 |
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Drawdowns
AIRR vs. IBIT - Drawdown Comparison
The maximum AIRR drawdown since its inception was -42.37%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for AIRR and IBIT.
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Drawdown Indicators
| AIRR | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.37% | -52.11% | +9.74% |
Max Drawdown (1Y)Largest decline over 1 year | -13.09% | -52.11% | +39.02% |
Max Drawdown (3Y)Largest decline over 3 years | -27.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.37% | — | — |
Current DrawdownCurrent decline from peak | -1.89% | -49.45% | +47.56% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -16.53% | +9.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 29.64% | -26.07% |
Volatility
AIRR vs. IBIT - Volatility Comparison
The current volatility for First Trust RBA American Industrial Renaissance ETF (AIRR) is 9.32%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that AIRR experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIRR | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.32% | 12.07% | -2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 20.81% | 34.45% | -13.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.19% | 44.10% | -17.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.45% | 50.26% | -24.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.36% | 50.26% | -23.90% |
AIRR vs. IBIT - Expense Ratio Comparison
AIRR has a 0.69% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
AIRR vs. IBIT - Dividend Comparison
AIRR's dividend yield for the trailing twelve months is around 0.13%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AIRR and IBIT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to AIRR (9.32%). In terms of maximum drawdown, AIRR dropped -42.37% vs IBIT's -52.11%.
On 1-year performance, AIRR leads with 65.25% vs -40.63% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, AIRR has been the lower-risk option at 9.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AIRR has performed better with a 65.25% return vs -40.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.69% for AIRR.
AIRR has the higher dividend yield at 0.13%, compared with 0.00% for IBIT.
AIRR is categorized as Building & Construction, while IBIT is Cryptocurrency. AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.69% for AIRR and 0.25% for IBIT.
AIRR currently has the higher Sharpe Ratio (2.50 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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