ARKW vs. GBTC
ARKW (ARK Next Generation Internet ETF) and GBTC (Grayscale Bitcoin Trust ETF) are both exchange-traded funds - ARKW is a Mid Cap Growth Equities fund actively managed by ARK, while GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. ARKW is actively managed, while GBTC is passively managed. Over the past 10 years, ARKW returned 21.75%/yr vs 47.81%/yr for GBTC. At a 0.40 correlation, their price movements are largely independent. ARKW charges 0.76%/yr vs 1.50%/yr for GBTC.
Performance
ARKW vs. GBTC - Performance Comparison
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Returns By Period
In the year-to-date period, ARKW achieves a -4.04% return, which is significantly higher than GBTC's -27.28% return. Over the past 10 years, ARKW has underperformed GBTC with an annualized return of 21.75%, while GBTC has yielded a comparatively higher 47.81% annualized return.
ARKW
- 1D
- -1.75%
- 1M
- -1.56%
- 6M
- -4.60%
- YTD
- -4.04%
- 1Y
- -9.44%
- 3Y*
- 29.31%
- 5Y*
- 0.55%
- 10Y*
- 21.75%
GBTC
- 1D
- -0.14%
- 1M
- -0.28%
- 6M
- -33.35%
- YTD
- -27.28%
- 1Y
- -46.93%
- 3Y*
- 36.12%
- 5Y*
- 13.67%
- 10Y*
- 47.81%
ARKW vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARKW ARK Next Generation Internet ETF | -4.04% | 38.93% | 42.27% | 96.89% | -67.49% | -18.85% | 157.44% | 35.76% | 4.24% | 87.29% |
GBTC Grayscale Bitcoin Trust ETF | -27.28% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
Correlation
The correlation between ARKW and GBTC is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 4, 2015 | 0.40 |
Over the past year, ARKW and GBTC have become more correlated (0.69) than their long-term average of 0.40, meaning their price movements have been converging.
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Return for Risk
ARKW vs. GBTC — Risk / Return Rank
ARKW
GBTC
ARKW vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ARK Next Generation Internet ETF (ARKW) 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.
| ARKW | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.44 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.82 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | -0.88 | +0.61 |
| Martin ratioReturn relative to average drawdown | -0.50 | -1.40 | +0.90 |
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Drawdowns
ARKW vs. GBTC - Drawdown Comparison
The maximum ARKW drawdown since its inception was -80.52%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for ARKW and GBTC.
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Drawdown Indicators
| ARKW | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.52% | -89.91% | +9.39% |
Max Drawdown (1Y)Largest decline over 1 year | -36.21% | -53.75% | +17.54% |
Max Drawdown (3Y)Largest decline over 3 years | -36.21% | -53.75% | +17.54% |
Max Drawdown (5Y)Largest decline over 5 years | -77.36% | -85.42% | +8.06% |
Max Drawdown (10Y)Largest decline over 10 years | -80.52% | -89.91% | +9.39% |
Current DrawdownCurrent decline from peak | -23.09% | -49.50% | +26.41% |
Average DrawdownAverage peak-to-trough decline | -23.95% | -43.49% | +19.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.82% | 33.53% | -14.71% |
Volatility
ARKW vs. GBTC - Volatility Comparison
The current volatility for ARK Next Generation Internet ETF (ARKW) is 9.03%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 10.67%. This indicates that ARKW 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
| ARKW | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.03% | 10.67% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 25.55% | 34.54% | -8.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.14% | 44.21% | -11.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.71% | 61.81% | -18.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.77% | 81.43% | -43.66% |
ARKW vs. GBTC - Expense Ratio Comparison
ARKW has a 0.76% expense ratio, which is lower than GBTC's 1.50% expense ratio.
Dividends
ARKW vs. GBTC - Dividend Comparison
ARKW's dividend yield for the trailing twelve months is around 1.66%, while GBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARKW ARK Next Generation Internet ETF | 1.66% | 1.59% | 0.00% | 0.00% | 0.00% | 0.17% | 1.29% | 0.00% | 13.05% | 2.05% | 0.00% | 2.29% |
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% | 0.00% | 0.00% |
Frequently Asked Questions
ARKW and GBTC have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (10.67%) compared to ARKW (9.03%). In terms of maximum drawdown, ARKW dropped -80.52% vs GBTC's -89.91%.
On 10-year performance, GBTC leads with 47.81% vs 21.75% for ARKW. On fees, ARKW is cheaper at 0.76% per year. On volatility, ARKW has been the lower-risk option at 9.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GBTC has performed better with a 47.81% return vs 21.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ARKW is cheaper with a 0.76% expense ratio, compared with 1.50% for GBTC.
ARKW has the higher dividend yield at 1.66%, compared with 0.00% for GBTC.
ARKW is categorized as Mid Cap Growth Equities, while GBTC is Cryptocurrency. They also come from different issuers: ARK and Grayscale. Their fees differ too: 0.76% for ARKW and 1.50% for GBTC.
ARKW currently has the higher Sharpe Ratio (-0.29 vs -1.06), 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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