BITEX vs. BTC-USD
BITEX (Brown Advisory Tax-Exempt Sustainable Bond Fund) is Municipal Bonds fund managed by Brown Advisory, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BITEX returned 0.10%/yr vs 10.61%/yr for BTC-USD. Their 0.02 correlation means their historical movements had little consistent relationship.
Performance
BITEX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BITEX achieves a 0.28% return, which is significantly higher than BTC-USD's -27.75% return.
BITEX
- 1D
- -0.11%
- 1M
- -1.53%
- 6M
- -0.34%
- YTD
- 0.28%
- 1Y
- 4.43%
- 3Y*
- 2.93%
- 5Y*
- 0.10%
- 10Y*
- —
- ALL TIME*
- 0.80%
BTC-USD
- 1D
- 0.72%
- 1M
- 1.12%
- 6M
- -17.79%
- YTD
- -27.75%
- 1Y
- -43.83%
- 3Y*
- 29.40%
- 5Y*
- 10.61%
- 10Y*
- 59.66%
- ALL TIME*
- 87.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
BTC-USD Bitcoin | $1569.44T | $1598.63T | $2087.37T |
BITEX vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BITEX Brown Advisory Tax-Exempt Sustainable Bond Fund | 0.28% | 4.27% | 2.02% | 4.35% | -9.40% | 2.21% | 2.08% | 0.19% |
BTC-USD Bitcoin | -27.75% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | -3.22% |
Correlation
The correlation between BITEX and BTC-USD is 0.00, 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. | 0.00 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2019 | 0.02 |
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Return for Risk
BITEX vs. BTC-USD — Risk / Return Rank
BITEX
BTC-USD
BITEX vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) and Bitcoin (BTC-USD). 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.
| BITEX | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.14 | ||
| Sortino ratioReturn per unit of downside risk | +4.82 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 0.85 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | -0.83 | +2.85 |
| Martin ratioReturn relative to average drawdown | 6.55 | -1.27 | +7.82 |
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Drawdowns
BITEX vs. BTC-USD - Drawdown Comparison
The maximum BITEX drawdown since its inception was -13.06%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BITEX and BTC-USD.
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Drawdown Indicators
| BITEX | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.06% | -85.30% | +72.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -53.08% | +50.48% |
Max Drawdown (3Y)Largest decline over 3 years | -4.39% | -53.08% | +48.69% |
Max Drawdown (5Y)Largest decline over 5 years | -13.06% | -76.67% | +63.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -1.57% | -49.31% | +47.74% |
Average DrawdownAverage peak-to-trough decline | -4.45% | -42.73% | +38.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 24.94% | -24.14% |
Volatility
BITEX vs. BTC-USD - Volatility Comparison
The current volatility for Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) is 0.78%, while Bitcoin (BTC-USD) has a volatility of 8.45%. This indicates that BITEX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITEX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 8.45% | -7.67% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 33.72% | -31.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.47% | 35.86% | -33.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.29% | 43.65% | -40.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.01% | 56.22% | -52.21% |
Frequently Asked Questions
BITEX and BTC-USD have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (8.45%) compared to BITEX (0.78%). In terms of maximum drawdown, BITEX dropped -13.06% vs BTC-USD's -85.30%.
BITEX currently has the higher Sharpe Ratio (2.13 vs -1.02), 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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