BITS vs. IREN

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Blockchain & Bitcoin Strategy ETF (BITS) and Iris Energy Limited (IREN).

BITS is a passively managed fund by Global X that tracks the performance of the NONE. It was launched on Nov 15, 2021.

Performance

BITS vs. IREN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Blockchain & Bitcoin Strategy ETF (BITS) and Iris Energy Limited (IREN). The values are adjusted to include any dividend payments, if applicable.

BITS vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BITS Global X Blockchain & Bitcoin Strategy ETF	-17.29%	14.90%	61.84%	212.23%	-75.46%	-28.65%
IREN Iris Energy Limited	-9.74%	284.62%	37.34%	472.00%	-92.27%	-33.87%

Returns By Period

In the year-to-date period, BITS achieves a -17.29% return, which is significantly lower than IREN's -9.74% return.

BITS

• 1D: 0.67%
• 1M: -7.35%
• YTD: -17.29%
• 6M: -36.24%
• 1Y: 20.57%
• 3Y*: 40.85%
• 5Y*: —
• 10Y*: —

IREN

• 1D: -0.55%
• 1M: -17.64%
• YTD: -9.74%
• 6M: -27.59%
• 1Y: 413.40%
• 3Y*: 123.34%
• 5Y*: —
• 10Y*: —

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

Return for Risk

BITS vs. IREN — Risk / Return Rank

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

BITS

BITS Risk / Return Rank: 24
BITS Sharpe Ratio Rank: 22
BITS Sortino Ratio Rank: 29
BITS Omega Ratio Rank: 24
BITS Calmar Ratio Rank: 23
BITS Martin Ratio Rank: 20

IREN

IREN Risk / Return Rank: 95
IREN Sharpe Ratio Rank: 99
IREN Sortino Ratio Rank: 94
IREN Omega Ratio Rank: 91
IREN Calmar Ratio Rank: 97
IREN Martin Ratio Rank: 95

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.

BITS vs. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain & Bitcoin Strategy ETF (BITS) and Iris Energy Limited (IREN). 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.

	BITS	IREN	Difference
Sharpe ratio Return per unit of total volatility	0.38	4.25	-3.87
Sortino ratio Return per unit of downside risk	0.89	3.52	-2.63
Omega ratio Gain probability vs. loss probability	1.10	1.41	-0.31
Calmar ratio Return relative to maximum drawdown	0.53	7.84	-7.32
Martin ratio Return relative to average drawdown	1.16	16.96	-15.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITS vs. IREN - Sharpe Ratio Comparison

The current BITS Sharpe Ratio is 0.38, which is lower than the IREN Sharpe Ratio of 4.25. The chart below compares the historical Sharpe Ratios of BITS and IREN, 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

	BITS	IREN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	4.25	-3.87
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	0.07	-0.13

Correlation

The correlation between BITS and IREN is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BITS vs. IREN - Dividend Comparison

BITS's dividend yield for the trailing twelve months is around 27.56%, while IREN has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
BITS Global X Blockchain & Bitcoin Strategy ETF	27.56%	22.80%	29.49%	13.69%	0.48%	1.90%
IREN Iris Energy Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BITS vs. IREN - Drawdown Comparison

The maximum BITS drawdown since its inception was -83.11%, smaller than the maximum IREN drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for BITS and IREN.

Drawdown Indicators

	BITS	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-83.11%	-95.73%	+12.62%
Max Drawdown (1Y) Largest decline over 1 year	-48.38%	-58.62%	+10.24%
Current Drawdown Current decline from peak	-45.55%	-55.39%	+9.84%
Average Drawdown Average peak-to-trough decline	-43.20%	-63.97%	+20.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.10%	27.12%	-5.02%

Volatility

BITS vs. IREN - Volatility Comparison

The current volatility for Global X Blockchain & Bitcoin Strategy ETF (BITS) is 17.37%, while Iris Energy Limited (IREN) has a volatility of 29.75%. This indicates that BITS experiences smaller price fluctuations and is considered to be less risky than IREN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITS	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.37%	29.75%	-12.38%
Volatility (6M) Calculated over the trailing 6-month period	43.69%	77.52%	-33.83%
Volatility (1Y) Calculated over the trailing 1-year period	54.51%	98.41%	-43.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.49%	119.09%	-57.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.49%	119.09%	-57.60%