BTC-USD vs. IEV
BTC-USD (Bitcoin) is a cryptocurrency, while IEV (iShares Europe ETF) is Europe Equities fund tracking the S&P Europe 350 Index. Over the past 10 years, BTC-USD returned 55.97%/yr vs 10.08%/yr for IEV. At a 0.11 correlation, their price movements are largely independent.
Performance
BTC-USD vs. IEV - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -25.06% return, which is significantly lower than IEV's 7.67% return. Over the past 10 years, BTC-USD has outperformed IEV with an annualized return of 55.97%, while IEV has yielded a comparatively lower 10.08% annualized return.
BTC-USD
- 1D
- 2.42%
- 1M
- -17.06%
- YTD
- -25.06%
- 6M
- -25.64%
- 1Y
- -37.83%
- 3Y*
- 36.87%
- 5Y*
- 10.30%
- 10Y*
- 55.97%
IEV
- 1D
- 0.24%
- 1M
- 4.78%
- YTD
- 7.67%
- 6M
- 9.80%
- 1Y
- 19.81%
- 3Y*
- 16.38%
- 5Y*
- 8.81%
- 10Y*
- 10.08%
BTC-USD vs. IEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -25.06% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
IEV iShares Europe ETF | 7.67% | 35.63% | 1.36% | 20.14% | -14.24% | 16.73% | 4.07% | 24.03% | -14.68% | 24.84% |
Correlation
The correlation between BTC-USD and IEV is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
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 | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2012 | 0.11 |
Over the past year, BTC-USD and IEV have become more correlated (0.35) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
BTC-USD vs. IEV — Risk / Return Rank
BTC-USD
IEV
BTC-USD vs. IEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and iShares Europe ETF (IEV). 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 | IEV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.84 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.20 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.44 | -2.18 |
| Martin ratioReturn relative to average drawdown | -1.28 | 5.27 | -6.55 |
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Drawdowns
BTC-USD vs. IEV - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than IEV's maximum drawdown of -63.27%. Use the drawdown chart below to compare losses from any high point for BTC-USD and IEV.
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Drawdown Indicators
| BTC-USD | IEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -63.27% | -22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -12.31% | -38.90% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -14.63% | -36.58% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -30.60% | -46.07% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -36.62% | -47.18% |
Current DrawdownCurrent decline from peak | -47.43% | -0.66% | -46.77% |
Average DrawdownAverage peak-to-trough decline | -42.37% | -15.03% | -27.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.28% | 3.39% | +31.89% |
Volatility
BTC-USD vs. IEV - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 12.10% compared to iShares Europe ETF (IEV) at 5.78%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than IEV 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 | IEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.10% | 5.78% | +6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 34.64% | 13.54% | +21.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.63% | 16.13% | +19.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.55% | 17.66% | +26.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.61% | 18.66% | +37.95% |
Frequently Asked Questions
BTC-USD and IEV have a correlation of 0.35, 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 (12.10%) compared to IEV (5.78%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs IEV's -63.27%.
IEV currently has the higher Sharpe Ratio (1.10 vs -0.88), 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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