BTC-USD vs. IEMG
BTC-USD (Bitcoin) is a cryptocurrency, while IEMG (iShares Core MSCI Emerging Markets ETF) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Over the past 10 years, BTC-USD returned 57.23%/yr vs 10.42%/yr for IEMG. At a 0.10 correlation, their price movements are largely independent.
Performance
BTC-USD vs. IEMG - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -26.27% return, which is significantly lower than IEMG's 22.84% return. Over the past 10 years, BTC-USD has outperformed IEMG with an annualized return of 57.23%, while IEMG has yielded a comparatively lower 10.42% annualized return.
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
IEMG
- 1D
- 0.61%
- 1M
- 0.34%
- YTD
- 22.84%
- 6M
- 25.59%
- 1Y
- 44.83%
- 3Y*
- 21.33%
- 5Y*
- 7.15%
- 10Y*
- 10.42%
BTC-USD vs. IEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
IEMG iShares Core MSCI Emerging Markets ETF | 22.84% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
Correlation
The correlation between BTC-USD and IEMG is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012 | 0.10 |
Over the past year, BTC-USD and IEMG have become more correlated (0.37) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
BTC-USD vs. IEMG — Risk / Return Rank
BTC-USD
IEMG
BTC-USD vs. IEMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and iShares Core MSCI Emerging Markets ETF (IEMG). 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 | IEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.94 | ||
| Sortino ratioReturn per unit of downside risk | -3.92 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.39 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 3.23 | -4.00 |
| Martin ratioReturn relative to average drawdown | -1.33 | 11.89 | -13.22 |
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Drawdowns
BTC-USD vs. IEMG - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for BTC-USD and IEMG.
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Drawdown Indicators
| BTC-USD | IEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -38.71% | -46.59% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -13.21% | -38.00% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -17.21% | -34.00% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -35.75% | -40.92% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -38.71% | -45.09% |
Current DrawdownCurrent decline from peak | -48.27% | -3.98% | -44.29% |
Average DrawdownAverage peak-to-trough decline | -42.36% | -12.95% | -29.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.16% | 3.59% | +31.57% |
Volatility
BTC-USD vs. IEMG - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 11.97% compared to iShares Core MSCI Emerging Markets ETF (IEMG) at 10.60%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than IEMG 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 | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 10.60% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 34.64% | 18.89% | +15.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.59% | 21.08% | +14.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.57% | 18.73% | +25.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.61% | 20.17% | +36.44% |
Frequently Asked Questions
BTC-USD and IEMG have a correlation of 0.37, 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 (11.97%) compared to IEMG (10.60%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs IEMG's -38.71%.
IEMG currently has the higher Sharpe Ratio (2.03 vs -0.92), 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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