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BKKT vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BKKT vs. IWM

Last updated Jun 4, 2026

BKKT (Bakkt Holdings, Inc.) is a stock, while IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 5 years, BKKT returned -48.91%/yr vs 6.11%/yr for IWM. At a 0.49 correlation, their price movements are largely independent.

Performance

BKKT vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bakkt Holdings, Inc. (BKKT) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, BKKT achieves a -11.16% return, which is significantly lower than IWM's 17.07% return.

BKKT

1D
-8.98%
1M
-0.45%
YTD
-11.16%
6M
-39.20%
1Y
-33.13%
3Y*
-37.48%
5Y*
-48.91%
10Y*
—

IWM

1D
-1.37%
1M
3.52%
YTD
17.07%
6M
15.83%
1Y
39.10%
3Y*
17.88%
5Y*
6.11%
10Y*
10.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BKKT vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
BKKT
Bakkt Holdings, Inc.		-11.16%-59.47%-55.57%87.39%-86.02%-15.58%-8.36%
IWM
iShares Russell 2000 ETF		17.07%12.66%11.38%16.83%-20.48%14.54%10.92%

Correlation

The correlation between BKKT and IWM is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.51

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2020

0.49

The correlation between BKKT and IWM has been stable across timeframes, ranging from 0.49 to 0.52 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Bakkt Holdings, Inc.

iShares Russell 2000 ETF

Often compared with BKKT:
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Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO

Return for Risk

BKKT vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BKKT
BKKT Risk / Return Rank: 3636
Overall Rank
BKKT Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
BKKT Sortino Ratio Rank: 4747
Sortino Ratio Rank
BKKT Omega Ratio Rank: 4545
Omega Ratio Rank
BKKT Calmar Ratio Rank: 2727
Calmar Ratio Rank
BKKT Martin Ratio Rank: 3131
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 6262
Overall Rank
IWM Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 5959
Sortino Ratio Rank
IWM Omega Ratio Rank: 5353
Omega Ratio Rank
IWM Calmar Ratio Rank: 7070
Calmar Ratio Rank
IWM Martin Ratio Rank: 6767
Martin Ratio Rank
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.

BKKT vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bakkt Holdings, Inc. (BKKT) and iShares Russell 2000 ETF (IWM). 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.

BKKTIWMDifference
Sharpe ratioReturn per unit of total volatility
-0.22
2.05

-2.28

Sortino ratioReturn per unit of downside risk
0.74
2.85

-2.11

Omega ratioGain probability vs. loss probability

1.09

1.34

-0.25

Calmar ratioReturn relative to maximum drawdown

-0.39

3.56

-3.96

Martin ratioReturn relative to average drawdown

-0.53

12.64

-13.18

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKKT vs. IWM - Sharpe Ratio Comparison

The current BKKT Sharpe Ratio is -0.22, which is lower than the IWM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of BKKT and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BKKTIWMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.22

2.05

-2.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.26

0.27

-0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.48

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.25

0.37

-0.62

Drawdowns

BKKT vs. IWM - Drawdown Comparison

The maximum BKKT drawdown since its inception was -99.41%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for BKKT and IWM.

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Drawdown Indicators

BKKTIWMDifference

Max Drawdown

Largest peak-to-trough decline

-99.41%

-59.05%

-40.36%

Max Drawdown (1Y)

Largest decline over 1 year

-84.57%

-11.03%

-73.54%

Max Drawdown (3Y)

Largest decline over 3 years

-89.36%

-27.50%

-61.86%

Max Drawdown (5Y)

Largest decline over 5 years

-99.41%

-31.91%

-67.50%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.13%

—

Current Drawdown

Current decline from peak

-99.16%

-1.49%

-97.67%

Average Drawdown

Average peak-to-trough decline

-84.77%

-10.77%

-74.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

62.11%

3.10%

+59.01%

Volatility

BKKT vs. IWM - Volatility Comparison

Bakkt Holdings, Inc. (BKKT) has a higher volatility of 36.58% compared to iShares Russell 2000 ETF (IWM) at 5.75%. This indicates that BKKT's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BKKTIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

36.58%

5.75%

+30.83%

Volatility (6M)

Calculated over the trailing 6-month period

79.89%

13.53%

+66.36%

Volatility (1Y)

Calculated over the trailing 1-year period

149.42%

19.20%

+130.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

189.49%

22.52%

+166.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

183.20%

23.04%

+160.16%

Dividends

BKKT vs. IWM - Dividend Comparison

BKKT has not paid dividends to shareholders, while IWM's dividend yield for the trailing twelve months is around 0.88%.

PositionTTM20252024202320222021202020192018201720162015
BKKT
Bakkt Holdings, Inc.		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IWM
iShares Russell 2000 ETF		0.88%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%

Frequently Asked Questions

BKKT and IWM have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BKKT has higher volatility (36.58%) compared to IWM (5.75%). In terms of maximum drawdown, BKKT dropped -99.41% vs IWM's -59.05%.

IWM currently has the higher Sharpe Ratio (2.05 vs -0.22), 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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