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 -43.53% vs -43.18% for IBIT. A 0.72 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 -31.78% return and IBIT slightly higher at -31.52%.
BTC-USD
- 1D
- 2.00%
- 1M
- -16.29%
- YTD
- -31.78%
- 6M
- -31.78%
- 1Y
- -43.53%
- 3Y*
- 24.93%
- 5Y*
- 12.04%
- 10Y*
- 56.82%
IBIT
- 1D
- 2.13%
- 1M
- -16.03%
- YTD
- -31.52%
- 6M
- -31.52%
- 1Y
- -43.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTC-USD Bitcoin | -31.78% | -6.27% | 100.05% |
IBIT iShares Bitcoin Trust ETF | -31.52% | -6.41% | 89.87% |
Correlation
The correlation between BTC-USD and IBIT is 0.73, 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 | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.72 |
The correlation between BTC-USD and IBIT has been stable across timeframes, ranging from 0.72 to 0.73 - 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 | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.84 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.81 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.37 | -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 -53.30%. 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% | -53.30% | -32.00% |
Max Drawdown (1Y)Largest decline over 1 year | -53.08% | -53.30% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -53.08% | — | — |
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 | -52.14% | -52.31% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -42.47% | -17.20% | -25.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.43% | 31.64% | +0.79% |
Volatility
BTC-USD vs. IBIT - Volatility Comparison
The current volatility for Bitcoin (BTC-USD) is 12.69%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.98%. This indicates that BTC-USD experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. 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 | 12.69% | 13.98% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 34.87% | 34.80% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.71% | 44.50% | -8.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.01% | 50.10% | -6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.37% | 50.10% | +6.27% |
Frequently Asked Questions
BTC-USD and IBIT have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.98%) compared to BTC-USD (12.69%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs IBIT's -53.30%.
IBIT currently has the higher Sharpe Ratio (-0.97 vs -1.01), 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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