BITEX vs. BTC-USD

Last updated Apr 3, 2026

Compare and contrast key facts about Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) and Bitcoin (BTC-USD).

BITEX is managed by Brown Advisory Funds. It was launched on Dec 1, 2019.

Performance

BITEX vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

BITEX vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BITEX Brown Advisory Tax-Exempt Sustainable Bond Fund	-0.22%	4.27%	2.02%	4.35%	-9.40%	2.21%	2.08%	0.19%
BTC-USD Bitcoin	-23.70%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	-1.91%

Returns By Period

In the year-to-date period, BITEX achieves a -0.22% return, which is significantly higher than BTC-USD's -23.70% return.

BITEX

• 1D: 0.22%
• 1M: -1.31%
• YTD: -0.22%
• 6M: 1.46%
• 1Y: 3.91%
• 3Y*: 2.86%
• 5Y*: 0.53%
• 10Y*: —

BTC-USD

• 1D: -1.99%
• 1M: -2.31%
• YTD: -23.70%
• 6M: -44.66%
• 1Y: -19.07%
• 3Y*: 33.89%
• 5Y*: 3.18%
• 10Y*: 66.03%

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

Return for Risk

BITEX vs. BTC-USD — Risk / Return Rank

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

BITEX

BITEX Risk / Return Rank: 38
BITEX Sharpe Ratio Rank: 41
BITEX Sortino Ratio Rank: 36
BITEX Omega Ratio Rank: 60
BITEX Calmar Ratio Rank: 28
BITEX Martin Ratio Rank: 27

BTC-USD

BTC-USD Risk / Return Rank: 39
BTC-USD Sharpe Ratio Rank: 66
BTC-USD Sortino Ratio Rank: 60
BTC-USD Omega Ratio Rank: 59
BTC-USD Calmar Ratio Rank: 12
BTC-USD Martin Ratio Rank: 0

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.

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.

	BITEX	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	0.99	-0.43	+1.42
Sortino ratio Return per unit of downside risk	1.35	-0.36	+1.72
Omega ratio Gain probability vs. loss probability	1.27	0.96	+0.30
Calmar ratio Return relative to maximum drawdown	1.10	-1.14	+2.24
Martin ratio Return relative to average drawdown	3.95	-2.03	+5.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITEX vs. BTC-USD - Sharpe Ratio Comparison

The current BITEX Sharpe Ratio is 0.99, which is higher than the BTC-USD Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of BITEX and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BITEX	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	-0.43	+1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.06	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	1.18	-0.99

Correlation

The correlation between BITEX and BTC-USD is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

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.

Drawdown Indicators

	BITEX	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-13.06%	-85.30%	+72.24%
Max Drawdown (1Y) Largest decline over 1 year	-3.86%	-49.65%	+45.79%
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 Drawdown Current decline from peak	-2.06%	-46.47%	+44.41%
Average Drawdown Average peak-to-trough decline	-4.64%	-42.00%	+37.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	27.75%	-26.67%

Volatility

BITEX vs. BTC-USD - Volatility Comparison

The current volatility for Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) is 0.91%, while Bitcoin (BTC-USD) has a volatility of 13.70%. 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.

Volatility by Period

	BITEX	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	13.70%	-12.79%
Volatility (6M) Calculated over the trailing 6-month period	1.59%	35.96%	-34.37%
Volatility (1Y) Calculated over the trailing 1-year period	3.99%	36.69%	-32.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.24%	46.91%	-43.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.07%	56.71%	-52.64%