BITEX vs. BTC-USD
BITEX (Brown Advisory Tax-Exempt Sustainable Bond Fund) is Municipal Bonds fund managed by Brown Advisory Funds, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BITEX returned 0.51%/yr vs 12.68%/yr for BTC-USD. At a 0.02 correlation, their price movements are largely independent.
Performance
BITEX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BITEX achieves a 1.33% return, which is significantly higher than BTC-USD's -28.07% return.
BITEX
- 1D
- -0.11%
- 1M
- 1.18%
- YTD
- 1.33%
- 6M
- 1.86%
- 1Y
- 6.05%
- 3Y*
- 3.48%
- 5Y*
- 0.51%
- 10Y*
- —
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
BITEX vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BITEX Brown Advisory Tax-Exempt Sustainable Bond Fund | 1.33% | 4.27% | 2.02% | 4.35% | -9.40% | 2.21% | 2.08% | 0.19% |
BTC-USD Bitcoin | -28.07% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | -3.22% |
Correlation
The correlation between BITEX and BTC-USD is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year 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 | +3.51 | ||
| Sortino ratioReturn per unit of downside risk | +5.54 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 0.86 | +0.79 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | -0.79 | +3.17 |
| Martin ratioReturn relative to average drawdown | 8.09 | -1.32 | +9.41 |
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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% | -51.21% | +48.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.76% | -51.21% | +46.45% |
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 | -0.54% | -49.54% | +49.00% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -42.40% | +37.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 31.29% | -30.53% |
Volatility
BITEX vs. BTC-USD - Volatility Comparison
The current volatility for Brown Advisory Tax-Exempt Sustainable Bond Fund (BITEX) is 0.68%, while Bitcoin (BTC-USD) has a volatility of 12.23%. 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 | 0.68% | 12.23% | -11.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 34.57% | -32.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.42% | 35.70% | -33.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.27% | 44.26% | -40.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 56.41% | -52.38% |
Frequently Asked Questions
BITEX and BTC-USD have a correlation of -0.02, 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 (12.23%) compared to BITEX (0.68%). In terms of maximum drawdown, BITEX dropped -13.06% vs BTC-USD's -85.30%.
BITEX currently has the higher Sharpe Ratio (2.56 vs -0.94), 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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