BRRR vs. IBIT
BRRR (Valkyrie Bitcoin ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds tracking the CME CF Bitcoin Reference Rate - New York Variant, from Valkyrie Digital Assets and iShares respectively. Both are passively managed. Over the past year, BRRR returned -39.82% vs -39.82% for IBIT. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.25% expense ratio.
Performance
BRRR vs. IBIT - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BRRR having a -28.99% return and IBIT slightly higher at -28.88%.
BRRR
- 1D
- -3.30%
- 1M
- -17.84%
- YTD
- -28.99%
- 6M
- -29.02%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BRRR vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRRR Valkyrie Bitcoin ETF | -28.99% | -6.50% | 87.59% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between BRRR and IBIT is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 1.00 |
The correlation between BRRR and IBIT has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
BRRR vs. IBIT — Risk / Return Rank
BRRR
IBIT
BRRR vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Valkyrie Bitcoin ETF (BRRR) and iShares Bitcoin Trust ETF (IBIT). 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.
| BRRR | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.77 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.31 | -1.30 | 0.00 |
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Drawdowns
BRRR vs. IBIT - Drawdown Comparison
The maximum BRRR drawdown since its inception was -52.09%, roughly equal to the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for BRRR and IBIT.
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Drawdown Indicators
| BRRR | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.09% | -52.11% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -52.09% | -52.11% | +0.02% |
Current DrawdownCurrent decline from peak | -50.48% | -50.47% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -16.87% | -16.85% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.55% | 30.58% | -0.03% |
Volatility
BRRR vs. IBIT - Volatility Comparison
Valkyrie Bitcoin ETF (BRRR) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 13.19% and 13.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRRR | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.19% | 13.18% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 34.63% | 34.64% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.20% | 44.31% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.98% | 50.22% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.98% | 50.22% | -0.24% |
BRRR vs. IBIT - Expense Ratio Comparison
Both BRRR and IBIT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BRRR vs. IBIT - Dividend Comparison
Neither BRRR nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, BRRR and IBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BRRR has higher volatility (13.19%) compared to IBIT (13.18%). In terms of maximum drawdown, BRRR dropped -52.09% vs IBIT's -52.11%.
On 1-year performance, IBIT leads with -39.82% vs -39.82% for BRRR. Both ETFs have the same 0.25% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIT has performed better with a -39.82% return vs -39.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BRRR and IBIT have the same expense ratio: 0.25% per year.
BRRR and IBIT have nearly identical dividend yields, around 0.00%.
Both ETFs track CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Valkyrie Digital Assets and iShares.
IBIT currently has the higher Sharpe Ratio (-0.90 vs -0.90), 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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