BTC-USD vs. IBIT
BTC-USD (Bitcoin) is a cryptocurrency, while IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, BTC-USD returned -44.00% vs -43.68% for IBIT. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
BTC-USD vs. IBIT - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BTC-USD having a -29.41% return and IBIT slightly higher at -29.35%.
BTC-USD
- 1D
- 0.13%
- 1M
- -24.42%
- YTD
- -29.41%
- 6M
- -32.89%
- 1Y
- -44.00%
- 3Y*
- 33.54%
- 5Y*
- 10.59%
- 10Y*
- 57.02%
IBIT
- 1D
- -0.17%
- 1M
- -24.51%
- YTD
- -29.35%
- 6M
- -33.17%
- 1Y
- -43.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTC-USD Bitcoin | -29.41% | -6.27% | 100.05% |
IBIT iShares Bitcoin Trust ETF | -29.35% | -6.41% | 89.87% |
Correlation
The correlation between BTC-USD and IBIT is 0.71, 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 | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.71 |
The correlation between BTC-USD and IBIT has been stable across timeframes, ranging from 0.71 to 0.71 - a consistent structural relationship.
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Return for Risk
BTC-USD vs. IBIT — Risk / Return Rank
BTC-USD
IBIT
BTC-USD vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) 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.
| BTC-USD | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.84 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.84 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.51 | -1.49 | -0.02 |
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Drawdowns
BTC-USD vs. IBIT - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for BTC-USD and IBIT.
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Drawdown Indicators
| BTC-USD | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -52.11% | -33.19% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -52.11% | +0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | — | — |
Current DrawdownCurrent decline from peak | -50.48% | -50.79% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -42.33% | -16.42% | -25.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.75% | 29.32% | +5.43% |
Volatility
BTC-USD vs. IBIT - Volatility Comparison
Bitcoin (BTC-USD) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 11.36% and 11.32%, 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
| BTC-USD | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.36% | 11.32% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 34.49% | 34.44% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.52% | 44.01% | -8.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.73% | 50.31% | -5.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.69% | 50.31% | +6.38% |
Frequently Asked Questions
BTC-USD and IBIT have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.36%) compared to IBIT (11.32%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs IBIT's -52.11%.
IBIT currently has the higher Sharpe Ratio (-1.00 vs -1.03), 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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