BITSX vs. GBTC
BITSX (iShares Total U.S. Stock Market Index Fund) and GBTC (Grayscale Bitcoin Trust ETF) are both funds - BITSX is a Large Cap Blend Equities fund managed by BlackRock, while GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. Over the past 10 years, BITSX returned 15.00%/yr vs 49.21%/yr for GBTC. At a 0.28 correlation, their price movements are largely independent. BITSX charges 0.08%/yr vs 1.50%/yr for GBTC.
Performance
BITSX vs. GBTC - Performance Comparison
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Returns By Period
In the year-to-date period, BITSX achieves a 10.88% return, which is significantly higher than GBTC's -27.82% return. Over the past 10 years, BITSX has underperformed GBTC with an annualized return of 15.00%, while GBTC has yielded a comparatively higher 49.21% annualized return.
BITSX
- 1D
- -0.75%
- 1M
- 4.00%
- YTD
- 10.88%
- 6M
- 10.60%
- 1Y
- 27.66%
- 3Y*
- 21.94%
- 5Y*
- 12.72%
- 10Y*
- 15.00%
GBTC
- 1D
- -2.74%
- 1M
- -22.25%
- YTD
- -27.82%
- 6M
- -31.83%
- 1Y
- -40.35%
- 3Y*
- 53.36%
- 5Y*
- 9.81%
- 10Y*
- 49.21%
BITSX vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BITSX iShares Total U.S. Stock Market Index Fund | 10.88% | 17.10% | 23.79% | 25.97% | -19.10% | 25.50% | 20.76% | 31.06% | -5.42% | 20.99% |
GBTC Grayscale Bitcoin Trust ETF | -27.82% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
Correlation
The correlation between BITSX and GBTC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.28 |
Over the past year, BITSX and GBTC have become more correlated (0.49) than their long-term average of 0.28, meaning their price movements have been converging.
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Return for Risk
BITSX vs. GBTC — Risk / Return Rank
BITSX
GBTC
BITSX vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Total U.S. Stock Market Index Fund (BITSX) and Grayscale Bitcoin Trust ETF (GBTC). 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.
| BITSX | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.21 | ||
| Sortino ratioReturn per unit of downside risk | +4.44 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 0.85 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | -0.81 | +3.94 |
| Martin ratioReturn relative to average drawdown | 14.38 | -1.40 | +15.79 |
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
| BITSX | GBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.28 | -0.93 | +3.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.16 | +0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.60 | +0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.65 | +0.17 |
Drawdowns
BITSX vs. GBTC - Drawdown Comparison
The maximum BITSX drawdown since its inception was -34.97%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for BITSX and GBTC.
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Drawdown Indicators
| BITSX | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.97% | -89.91% | +54.94% |
Max Drawdown (1Y)Largest decline over 1 year | -8.87% | -49.87% | +41.00% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -49.87% | +30.58% |
Max Drawdown (5Y)Largest decline over 5 years | -25.00% | -85.42% | +60.42% |
Max Drawdown (10Y)Largest decline over 10 years | -34.97% | -89.91% | +54.94% |
Current DrawdownCurrent decline from peak | -0.75% | -49.87% | +49.12% |
Average DrawdownAverage peak-to-trough decline | -4.54% | -43.43% | +38.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 28.81% | -26.88% |
Volatility
BITSX vs. GBTC - Volatility Comparison
The current volatility for iShares Total U.S. Stock Market Index Fund (BITSX) is 3.05%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 9.07%. This indicates that BITSX experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITSX | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 9.07% | -6.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.16% | 33.86% | -24.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.20% | 43.69% | -31.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 62.44% | -45.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.42% | 82.20% | -63.78% |
BITSX vs. GBTC - Expense Ratio Comparison
BITSX has a 0.08% expense ratio, which is lower than GBTC's 1.50% expense ratio.
Dividends
BITSX vs. GBTC - Dividend Comparison
BITSX's dividend yield for the trailing twelve months is around 1.02%, while GBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITSX iShares Total U.S. Stock Market Index Fund | 1.02% | 1.10% | 1.24% | 1.42% | 1.59% | 1.53% | 1.47% | 2.11% | 2.44% | 2.14% | 1.51% |
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% | 0.00% |
Frequently Asked Questions
BITSX and GBTC have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (9.07%) compared to BITSX (3.05%). In terms of maximum drawdown, BITSX dropped -34.97% vs GBTC's -89.91%.
BITSX currently has the higher Sharpe Ratio (2.28 vs -0.93), 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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