BGRN vs. IBIT
BGRN (iShares USD Green Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - BGRN is a Global Bonds fund tracking the Bloomberg MSCI USD Green Bond Select 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, BGRN returned 5.19% vs -38.74% for IBIT. At a 0.10 correlation, their price movements are largely independent. BGRN charges 0.20%/yr vs 0.25%/yr for IBIT.
Performance
BGRN vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, BGRN achieves a 0.43% return, which is significantly higher than IBIT's -25.48% return.
BGRN
- 1D
- -0.20%
- 1M
- 0.31%
- YTD
- 0.43%
- 6M
- 0.49%
- 1Y
- 5.19%
- 3Y*
- 4.75%
- 5Y*
- 0.54%
- 10Y*
- —
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BGRN vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BGRN iShares USD Green Bond ETF | 0.43% | 7.27% | 3.05% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between BGRN and IBIT is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.10 |
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Return for Risk
BGRN vs. IBIT — Risk / Return Rank
BGRN
IBIT
BGRN vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Green Bond ETF (BGRN) 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.
| BGRN | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.65 | ||
| Sortino ratioReturn per unit of downside risk | +3.91 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.86 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | -0.79 | +3.13 |
| Martin ratioReturn relative to average drawdown | 7.85 | -1.36 | +9.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BGRN | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | -0.89 | +2.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.30 | +0.15 |
Drawdowns
BGRN vs. IBIT - Drawdown Comparison
The maximum BGRN drawdown since its inception was -19.16%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for BGRN and IBIT.
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Drawdown Indicators
| BGRN | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.16% | -49.36% | +30.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -49.36% | +47.13% |
Max Drawdown (3Y)Largest decline over 3 years | -4.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.73% | — | — |
Current DrawdownCurrent decline from peak | -0.83% | -48.10% | +47.27% |
Average DrawdownAverage peak-to-trough decline | -5.79% | -16.02% | +10.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 28.44% | -27.78% |
Volatility
BGRN vs. IBIT - Volatility Comparison
The current volatility for iShares USD Green Bond ETF (BGRN) is 1.06%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that BGRN 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
| BGRN | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 9.50% | -8.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 34.44% | -32.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.97% | 43.73% | -40.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.46% | 50.19% | -44.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 50.19% | -45.19% |
BGRN vs. IBIT - Expense Ratio Comparison
BGRN has a 0.20% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BGRN vs. IBIT - Dividend Comparison
BGRN's dividend yield for the trailing twelve months is around 4.29%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BGRN iShares USD Green Bond ETF | 4.29% | 4.21% | 4.07% | 3.52% | 2.66% | 0.78% | 1.82% | 3.66% | 0.21% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BGRN and IBIT have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to BGRN (1.06%). In terms of maximum drawdown, BGRN dropped -19.16% vs IBIT's -49.36%.
On 1-year performance, BGRN leads with 5.19% vs -38.74% for IBIT. On fees, BGRN is cheaper at 0.20% per year. On volatility, BGRN has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BGRN has performed better with a 5.19% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BGRN is cheaper with a 0.20% expense ratio, compared with 0.25% for IBIT.
BGRN has the higher dividend yield at 4.29%, compared with 0.00% for IBIT.
BGRN is categorized as Global Bonds, while IBIT is Cryptocurrency. BGRN tracks Bloomberg MSCI USD Green Bond Select Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.20% for BGRN and 0.25% for IBIT.
BGRN currently has the higher Sharpe Ratio (1.76 vs -0.89), 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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