BRRR vs. BTC-USD

Last updated Apr 3, 2026

Compare and contrast key facts about Valkyrie Bitcoin ETF (BRRR) and Bitcoin (BTC-USD).

BRRR is a passively managed fund by Valkyrie Digital Assets that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 10, 2024.

Performance

BRRR vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Valkyrie Bitcoin ETF (BRRR) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

BRRR vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BRRR Valkyrie Bitcoin ETF	-23.53%	-6.50%	99.02%
BTC-USD Bitcoin	-23.70%	-6.27%	101.44%

Returns By Period

The year-to-date returns for both stocks are quite close, with BRRR having a -23.53% return and BTC-USD slightly lower at -23.70%.

BRRR

• 1D: -1.72%
• 1M: -1.75%
• YTD: -23.53%
• 6M: -44.69%
• 1Y: -23.04%
• 3Y*: —
• 5Y*: —
• 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

BRRR vs. BTC-USD — Risk / Return Rank

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

BRRR

BRRR Risk / Return Rank: 5
BRRR Sharpe Ratio Rank: 4
BRRR Sortino Ratio Rank: 5
BRRR Omega Ratio Rank: 5
BRRR Calmar Ratio Rank: 5
BRRR Martin Ratio Rank: 4

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.

BRRR vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Valkyrie Bitcoin ETF (BRRR) 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.

	BRRR	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	-0.51	-0.43	-0.08
Sortino ratio Return per unit of downside risk	-0.49	-0.36	-0.13
Omega ratio Gain probability vs. loss probability	0.94	0.96	-0.02
Calmar ratio Return relative to maximum drawdown	-0.43	-1.14	+0.70
Martin ratio Return relative to average drawdown	-0.91	-2.03	+1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRRR vs. BTC-USD - Sharpe Ratio Comparison

The current BRRR Sharpe Ratio is -0.51, which is comparable to the BTC-USD Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of BRRR 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

	BRRR	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	-0.43	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	1.18	-0.84

Correlation

The correlation between BRRR and BTC-USD is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

BRRR vs. BTC-USD - Drawdown Comparison

The maximum BRRR drawdown since its inception was -49.35%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BRRR and BTC-USD.

Drawdown Indicators

	BRRR	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-49.35%	-85.30%	+35.95%
Max Drawdown (1Y) Largest decline over 1 year	-49.35%	-49.65%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-76.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-46.67%	-46.47%	-0.20%
Average Drawdown Average peak-to-trough decline	-14.23%	-42.00%	+27.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.42%	27.75%	-4.33%

Volatility

BRRR vs. BTC-USD - Volatility Comparison

The current volatility for Valkyrie Bitcoin ETF (BRRR) is 10.85%, while Bitcoin (BTC-USD) has a volatility of 13.70%. This indicates that BRRR 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

	BRRR	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.85%	13.70%	-2.85%
Volatility (6M) Calculated over the trailing 6-month period	36.60%	35.96%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	45.07%	36.69%	+8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.86%	46.91%	+3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.86%	56.71%	-5.85%