BTC vs. SCUS

Last updated Aug 4, 2026

BTC (Grayscale Bitcoin Mini Trust ETF) and SCUS (Schwab Ultra-Short Income ETF) are both exchange-traded funds - BTC is a Cryptocurrency fund actively managed by Grayscale, while SCUS is a Ultrashort Bond fund actively managed by Charles Schwab. Both are actively managed. Over the past year, BTC returned -43.60% vs 3.87% for SCUS. Their -0.08 correlation means they have often moved in opposite directions in the past. BTC charges 0.15%/yr vs 0.14%/yr for SCUS.

Performance

BTC vs. SCUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Mini Trust ETF (BTC) and Schwab Ultra-Short Income ETF (SCUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTC achieves a -27.11% return, which is significantly lower than SCUS's 2.04% return.

BTC

• 1D: 1.51%
• 1M: 3.86%
• 6M: -18.15%
• YTD: -27.11%
• 1Y: -43.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.17%

SCUS

• 1D: 0.01%
• 1M: 0.37%
• 6M: 1.64%
• YTD: 2.04%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTC Grayscale Bitcoin Mini Trust ETF	$40.45M	$40.65M	$54.59M
SCUS Schwab Ultra-Short Income ETF	$3.00M	$2.70M	$2.96M

BTC vs. SCUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTC Grayscale Bitcoin Mini Trust ETF	-27.11%	-7.50%	59.81%
SCUS Schwab Ultra-Short Income ETF	2.04%	4.51%	2.00%

Correlation

The correlation between BTC and SCUS is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (All Time) Calculated using the full available price history since Aug 13, 2024	-0.08

Return for Risk

BTC vs. SCUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BTC

BTC Risk / Return Rank: 2
BTC Sharpe Ratio Rank: 2
BTC Sortino Ratio Rank: 2
BTC Omega Ratio Rank: 2
BTC Calmar Ratio Rank: 2
BTC Martin Ratio Rank: 3

SCUS

SCUS Risk / Return Rank: 99
SCUS Sharpe Ratio Rank: 99
SCUS Sortino Ratio Rank: 99
SCUS Omega Ratio Rank: 99
SCUS Calmar Ratio Rank: 99
SCUS Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BTC vs. SCUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Mini Trust ETF (BTC) and Schwab Ultra-Short Income ETF (SCUS). 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	SCUS	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	5.68	-6.66
Sortino ratio: Return per unit of downside risk	-1.44	10.66	-12.11
Omega ratio: Gain probability vs. loss probability	0.84	2.50	-1.66
Calmar ratio: Return relative to maximum drawdown	-0.82	23.33	-24.15
Martin ratio: Return relative to average drawdown	-1.26	98.31	-99.56

BTC vs. SCUS - Sharpe Ratio Comparison

The current BTC Sharpe Ratio is -0.99, which is lower than the SCUS Sharpe Ratio of 5.68. The chart below compares the historical Sharpe Ratios of BTC and SCUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTC vs. SCUS - Drawdown Comparison

The maximum BTC drawdown since its inception was -53.30%, which is greater than SCUS's maximum drawdown of -0.17%. Use the drawdown chart below to compare losses from any high point for BTC and SCUS.

Drawdown Indicators

	BTC	SCUS	Difference
Max Drawdown Largest peak-to-trough decline	-53.30%	-0.17%	-53.13%
Max Drawdown (1Y) Largest decline over 1 year	-53.30%	-0.17%	-53.13%
Current Drawdown Current decline from peak	-49.20%	0.00%	-49.20%
Average Drawdown Average peak-to-trough decline	-19.45%	-0.02%	-19.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.74%	0.04%	+34.70%

Volatility

BTC vs. SCUS - Volatility Comparison

Grayscale Bitcoin Mini Trust ETF (BTC) has a higher volatility of 8.87% compared to Schwab Ultra-Short Income ETF (SCUS) at 0.19%. This indicates that BTC's price experiences larger fluctuations and is considered to be riskier than SCUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTC	SCUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.87%	0.19%	+8.68%
Volatility (6M) Calculated over the trailing 6-month period	33.76%	0.51%	+33.25%
Volatility (1Y) Calculated over the trailing 1-year period	44.40%	0.69%	+43.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.49%	0.70%	+46.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.49%	0.70%	+46.79%

BTC vs. SCUS - Expense Ratio Comparison

BTC has a 0.15% expense ratio, which is higher than SCUS's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BTC vs. SCUS - Dividend Comparison

BTC has not paid dividends to shareholders, while SCUS's dividend yield for the trailing twelve months is around 3.87%.

Position	TTM	2025	2024
BTC Grayscale Bitcoin Mini Trust ETF	0.00%	0.00%	0.00%
SCUS Schwab Ultra-Short Income ETF	3.87%	4.17%	1.62%

Frequently Asked Questions

Can I hold both BTC and SCUS in my portfolio?

BTC and SCUS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTC or SCUS?

BTC has higher volatility (8.87%) compared to SCUS (0.19%). In terms of maximum drawdown, BTC dropped -53.30% vs SCUS's -0.17%.

Which ETF is better, BTC or SCUS?

On 1-year performance, SCUS leads with 3.87% vs -43.60% for BTC. On fees, SCUS is cheaper at 0.14% per year. On volatility, SCUS has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTC or SCUS?

Over the 1-year period, SCUS has performed better with a 3.87% return vs -43.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTC or SCUS?

SCUS is cheaper with a 0.14% expense ratio, compared with 0.15% for BTC.

Which ETF pays a higher dividend yield, BTC or SCUS?

SCUS has the higher dividend yield at 3.87%, compared with 0.00% for BTC.

What is the main difference between BTC and SCUS?

BTC is categorized as Cryptocurrency, while SCUS is Ultrashort Bond. They also come from different issuers: Grayscale and Charles Schwab. Their fees differ too: 0.15% for BTC and 0.14% for SCUS.

Which has better risk-adjusted returns?

SCUS currently has the higher Sharpe Ratio (5.68 vs -0.99), 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.