BABX vs. IBIT

Last updated Jul 15, 2026

BABX (GraniteShares 2x Long BABA Daily ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - BABX is a Leveraged Equities fund actively managed by GraniteShares, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. BABX is actively managed, while IBIT is passively managed. Over the past year, BABX returned -16.91% vs -46.35% for IBIT. At a 0.26 correlation, their price movements are largely independent. BABX charges 1.15%/yr vs 0.25%/yr for IBIT.

Performance

BABX vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long BABA Daily ETF (BABX) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BABX achieves a -48.20% return, which is significantly lower than IBIT's -26.32% return.

BABX

• 1D: -0.16%
• 1M: -3.31%
• 6M: -59.30%
• YTD: -48.20%
• 1Y: -16.91%
• 3Y*: -8.06%
• 5Y*: —
• 10Y*: —

IBIT

• 1D: 3.86%
• 1M: 1.50%
• 6M: -31.72%
• YTD: -26.32%
• 1Y: -46.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BABX vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BABX GraniteShares 2x Long BABA Daily ETF	-48.20%	123.85%	17.60%
IBIT iShares Bitcoin Trust ETF	-26.32%	-6.41%	89.87%

Correlation

The correlation between BABX and IBIT is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.26

Return for Risk

BABX vs. IBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BABX

BABX Risk / Return Rank: 9
BABX Sharpe Ratio Rank: 7
BABX Sortino Ratio Rank: 12
BABX Omega Ratio Rank: 11
BABX Calmar Ratio Rank: 7
BABX Martin Ratio Rank: 7

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BABX vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) 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.

	BABX	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	-1.05	+0.86
Sortino ratio: Return per unit of downside risk	0.38	-1.58	+1.96
Omega ratio: Gain probability vs. loss probability	1.04	0.83	+0.21
Calmar ratio: Return relative to maximum drawdown	-0.22	-0.87	+0.66
Martin ratio: Return relative to average drawdown	-0.39	-1.41	+1.02

BABX vs. IBIT - Sharpe Ratio Comparison

The current BABX Sharpe Ratio is -0.19, which is higher than the IBIT Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of BABX and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BABX vs. IBIT - Drawdown Comparison

The maximum BABX drawdown since its inception was -78.83%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for BABX and IBIT.

Drawdown Indicators

	BABX	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-78.83%	-53.30%	-25.53%
Max Drawdown (1Y) Largest decline over 1 year	-78.83%	-53.30%	-25.53%
Max Drawdown (3Y) Largest decline over 3 years	-78.83%	—	—
Current Drawdown Current decline from peak	-70.76%	-48.69%	-22.07%
Average Drawdown Average peak-to-trough decline	-46.05%	-17.61%	-28.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.18%	32.86%	+10.32%

Volatility

BABX vs. IBIT - Volatility Comparison

GraniteShares 2x Long BABA Daily ETF (BABX) has a higher volatility of 26.72% compared to iShares Bitcoin Trust ETF (IBIT) at 11.82%. This indicates that BABX's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BABX	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.72%	11.82%	+14.90%
Volatility (6M) Calculated over the trailing 6-month period	60.20%	35.03%	+25.17%
Volatility (1Y) Calculated over the trailing 1-year period	90.15%	44.48%	+45.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.34%	49.99%	+33.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.34%	49.99%	+33.35%

BABX vs. IBIT - Expense Ratio Comparison

BABX has a 1.15% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

BABX vs. IBIT - Dividend Comparison

Neither BABX nor IBIT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BABX and IBIT in my portfolio?

BABX and IBIT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BABX or IBIT?

BABX has higher volatility (26.72%) compared to IBIT (11.82%). In terms of maximum drawdown, BABX dropped -78.83% vs IBIT's -53.30%.

Which ETF is better, BABX or IBIT?

On 1-year performance, BABX leads with -16.91% vs -46.35% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 11.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BABX or IBIT?

Over the 1-year period, BABX has performed better with a -16.91% return vs -46.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BABX or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 1.15% for BABX.

Which ETF pays a higher dividend yield, BABX or IBIT?

BABX and IBIT have nearly identical dividend yields, around 0.00%.

What is the main difference between BABX and IBIT?

BABX is categorized as Leveraged Equities, while IBIT is Cryptocurrency. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.15% for BABX and 0.25% for IBIT.

Which has better risk-adjusted returns?

BABX currently has the higher Sharpe Ratio (-0.19 vs -1.05), 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.