BTC-USD vs. ZSP.TO
BTC-USD (Bitcoin) is a cryptocurrency, while ZSP.TO (BMO S&P 500 Index ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, BTC-USD returned 59.68%/yr vs 14.98%/yr for ZSP.TO. At a 0.09 correlation, their price movements are largely independent.
Performance
BTC-USD vs. ZSP.TO - Performance Comparison
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Different Trading Currencies
BTC-USD is traded in USD, while ZSP.TO is traded in CAD. To make them comparable, the ZSP.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTC-USD achieves a -28.54% return, which is significantly lower than ZSP.TO's 8.46% return. Over the past 10 years, BTC-USD has outperformed ZSP.TO with an annualized return of 59.68%, while ZSP.TO has yielded a comparatively lower 14.98% annualized return.
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
ZSP.TO
- 1D
- 0.12%
- 1M
- 0.25%
- YTD
- 8.46%
- 6M
- 8.59%
- 1Y
- 24.52%
- 3Y*
- 21.23%
- 5Y*
- 13.21%
- 10Y*
- 14.98%
BTC-USD vs. ZSP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
ZSP.TO BMO S&P 500 Index ETF | 8.40% | 17.73% | 24.53% | 26.31% | -17.88% | 27.60% | 18.42% | 30.05% | -4.73% | 21.85% |
Correlation
The correlation between BTC-USD and ZSP.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 27, 2012 | 0.09 |
Over the past year, BTC-USD and ZSP.TO have become more correlated (0.29) than their long-term average of 0.09, meaning their price movements have been converging.
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Return for Risk
BTC-USD vs. ZSP.TO — Risk / Return Rank
BTC-USD
ZSP.TO
BTC-USD vs. ZSP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and BMO S&P 500 Index ETF (ZSP.TO). 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.
| BTC-USD | ZSP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.90 | ||
| Sortino ratioReturn per unit of downside risk | -3.99 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.36 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.70 | -3.50 |
| Martin ratioReturn relative to average drawdown | -1.42 | 11.80 | -13.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTC-USD | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.95 | 1.95 | -2.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.82 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.86 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.88 | +0.25 |
Drawdowns
BTC-USD vs. ZSP.TO - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than ZSP.TO's maximum drawdown of -33.11%. Use the drawdown chart below to compare losses from any high point for BTC-USD and ZSP.TO.
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Drawdown Indicators
| BTC-USD | ZSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -33.11% | -52.19% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -9.11% | -42.10% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -18.80% | -32.41% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -24.35% | -52.32% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | -33.11% | -50.69% |
Current DrawdownCurrent decline from peak | -49.86% | -2.72% | -47.14% |
Average DrawdownAverage peak-to-trough decline | -42.32% | -3.85% | -38.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.46% | 2.08% | +32.38% |
Volatility
BTC-USD vs. ZSP.TO - Volatility Comparison
Bitcoin (BTC-USD) has a higher volatility of 11.59% compared to BMO S&P 500 Index ETF (ZSP.TO) at 3.86%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than ZSP.TO 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 | ZSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.59% | 3.86% | +7.73% |
Volatility (6M)Calculated over the trailing 6-month period | 34.53% | 9.58% | +24.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.67% | 12.69% | +22.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.95% | 16.13% | +28.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.71% | 17.53% | +39.18% |
Frequently Asked Questions
BTC-USD and ZSP.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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