BTC-USD vs. ICSH
BTC-USD (Bitcoin) is a cryptocurrency, while ICSH (iShares Ultra Short Duration Bond Active ETF) is Ultrashort Bond fund actively managed by iShares. Over the past 10 years, BTC-USD returned 58.69%/yr vs 2.80%/yr for ICSH. At a 0.01 correlation, their price movements are largely independent.
Performance
BTC-USD vs. ICSH - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -23.90% return, which is significantly lower than ICSH's 1.91% return. Over the past 10 years, BTC-USD has outperformed ICSH with an annualized return of 58.69%, while ICSH has yielded a comparatively lower 2.80% annualized return.
BTC-USD
- 1D
- 2.10%
- 1M
- 5.29%
- 6M
- -24.60%
- YTD
- -23.90%
- 1Y
- -43.30%
- 3Y*
- 30.74%
- 5Y*
- 15.58%
- 10Y*
- 58.69%
- ALL TIME*
- 89.03%
ICSH
- 1D
- -0.01%
- 1M
- 0.35%
- 6M
- 1.75%
- YTD
- 1.91%
- 1Y
- 4.11%
- 3Y*
- 5.08%
- 5Y*
- 3.76%
- 10Y*
- 2.80%
- ALL TIME*
- 2.32%
BTC-USD vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -23.90% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.91% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
Correlation
The correlation between BTC-USD and ICSH is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2013 | 0.01 |
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Return for Risk
BTC-USD vs. ICSH — Risk / Return Rank
BTC-USD
ICSH
BTC-USD vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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 | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.93 | ||
| Sortino ratioReturn per unit of downside risk | -23.56 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 5.46 | -4.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 41.80 | -42.62 |
| Martin ratioReturn relative to average drawdown | -1.30 | 235.74 | -237.03 |
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Drawdowns
BTC-USD vs. ICSH - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for BTC-USD and ICSH.
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Drawdown Indicators
| BTC-USD | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -3.94% | -81.36% |
Max Drawdown (1Y)Largest decline over 1 year | -53.08% | -0.10% | -52.98% |
Max Drawdown (3Y)Largest decline over 3 years | -53.08% | -0.10% | -52.98% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -0.73% | -75.94% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -3.94% | -79.86% |
Current DrawdownCurrent decline from peak | -46.61% | -0.01% | -46.60% |
Average DrawdownAverage peak-to-trough decline | -42.62% | -0.08% | -42.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.11% | 0.02% | +27.09% |
Volatility
BTC-USD vs. ICSH - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 9.38% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.12%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than ICSH 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 | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.38% | 0.12% | +9.26% |
Volatility (6M)Calculated over the trailing 6-month period | 34.69% | 0.32% | +34.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.80% | 0.42% | +35.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.84% | 0.49% | +43.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.33% | 1.05% | +55.28% |
Frequently Asked Questions
BTC-USD and ICSH have a correlation of -0.01, 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 (9.38%) compared to ICSH (0.12%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs ICSH's -3.94%.
ICSH currently has the higher Sharpe Ratio (9.93 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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