BTCFX vs. GBTC
BTCFX (Bitcoin ProFund Investor Class) and GBTC (Grayscale Bitcoin Trust ETF) are both Cryptocurrency funds. BTCFX is actively managed, while GBTC is passively managed. Over the past 3 years, BTCFX returned 21.79%/yr vs 36.79%/yr for GBTC. Their correlation of 0.94 means they have usually moved in the same direction. BTCFX charges 1.18%/yr vs 1.50%/yr for GBTC.
Performance
BTCFX vs. GBTC - Performance Comparison
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Returns By Period
In the year-to-date period, BTCFX achieves a -27.35% return, which is significantly higher than GBTC's -28.72% return.
BTCFX
- 1D
- 2.08%
- 1M
- 5.34%
- 6M
- -23.89%
- YTD
- -27.35%
- 1Y
- -45.02%
- 3Y*
- 21.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.99%
GBTC
- 1D
- -2.85%
- 1M
- 2.29%
- 6M
- -25.46%
- YTD
- -28.72%
- 1Y
- -45.18%
- 3Y*
- 36.79%
- 5Y*
- 7.01%
- 10Y*
- 50.99%
- ALL TIME*
- 54.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $75.53M | $74.63M | $101.29M |
BTCFX vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCFX Bitcoin ProFund Investor Class | -27.35% | -11.83% | 102.93% | 133.31% | -64.04% | -3.69% |
GBTC Grayscale Bitcoin Trust ETF | -28.72% | -7.65% | 113.81% | 317.61% | -75.80% | -4.89% |
Correlation
The correlation between BTCFX and GBTC is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2021 | 0.94 |
The correlation between BTCFX and GBTC has been stable across timeframes, ranging from 0.94 to 1.00 - a consistent structural relationship.
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Return for Risk
BTCFX vs. GBTC — Risk / Return Rank
BTCFX
GBTC
BTCFX vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin ProFund Investor Class (BTCFX) and Grayscale Bitcoin Trust ETF (GBTC). 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.
| BTCFX | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.82 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.88 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.32 | -1.34 | +0.02 |
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Drawdowns
BTCFX vs. GBTC - Drawdown Comparison
The maximum BTCFX drawdown since its inception was -77.89%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for BTCFX and GBTC.
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Drawdown Indicators
| BTCFX | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.89% | -89.91% | +12.02% |
Max Drawdown (1Y)Largest decline over 1 year | -54.81% | -53.75% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -54.81% | -53.75% | -1.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -85.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.91% | — |
Current DrawdownCurrent decline from peak | -50.18% | -50.49% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -36.41% | -43.51% | +7.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.60% | 34.92% | +0.68% |
Volatility
BTCFX vs. GBTC - Volatility Comparison
The current volatility for Bitcoin ProFund Investor Class (BTCFX) is 8.58%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 9.06%. This indicates that BTCFX experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCFX | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 9.06% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 34.17% | 33.68% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.53% | 44.36% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.92% | 60.60% | -5.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.92% | 81.27% | -26.35% |
BTCFX vs. GBTC - Expense Ratio Comparison
BTCFX has a 1.18% expense ratio, which is lower than GBTC's 1.50% expense ratio.
Dividends
BTCFX vs. GBTC - Dividend Comparison
BTCFX's dividend yield for the trailing twelve months is around 32.31%, while GBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BTCFX Bitcoin ProFund Investor Class | 23.51% | 44.62% | 24.28% | 10.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
Frequently Asked Questions
With a correlation of 1.00, BTCFX and GBTC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GBTC has higher volatility (9.06%) compared to BTCFX (8.58%). In terms of maximum drawdown, BTCFX dropped -77.89% vs GBTC's -89.91%.
BTCFX currently has the higher Sharpe Ratio (-1.06 vs -1.06), 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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