BTCL vs. IBIT
BTCL (T-REX 2X Long Bitcoin Daily Target ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - BTCL is a Leveraged Cryptocurrency fund actively managed by REX, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. BTCL is actively managed, while IBIT is passively managed. Over the past year, BTCL returned -78.91% vs -44.50% for IBIT. Their 1.00 correlation means they have historically moved very closely together. BTCL charges 0.95%/yr vs 0.25%/yr for IBIT.
Performance
BTCL vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, BTCL achieves a -58.66% return, which is significantly lower than IBIT's -28.22% return.
BTCL
- 1D
- -5.62%
- 1M
- 3.27%
- 6M
- -53.78%
- YTD
- -58.66%
- 1Y
- -78.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -28.39%
IBIT
- 1D
- -2.89%
- 1M
- 2.21%
- 6M
- -24.95%
- YTD
- -28.22%
- 1Y
- -44.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $874.62K | $895.29K | $1.28M | |
| $1.30B | $1.34B | $1.68B |
BTCL vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCL T-REX 2X Long Bitcoin Daily Target ETF | -58.66% | -39.52% | 101.29% |
IBIT iShares Bitcoin Trust ETF | -28.22% | -6.41% | 60.95% |
Correlation
The correlation between BTCL and IBIT 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 (All Time) Calculated using the full available price history since Jul 10, 2024 | 1.00 |
The correlation between BTCL and IBIT has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
BTCL vs. IBIT — Risk / Return Rank
BTCL
IBIT
BTCL vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and iShares Bitcoin Trust ETF (IBIT). 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.
| BTCL | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.83 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.87 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.34 | -1.34 | 0.00 |
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Drawdowns
BTCL vs. IBIT - Drawdown Comparison
The maximum BTCL drawdown since its inception was -84.01%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for BTCL and IBIT.
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Drawdown Indicators
| BTCL | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.01% | -53.30% | -30.71% |
Max Drawdown (1Y)Largest decline over 1 year | -84.01% | -53.30% | -30.71% |
Current DrawdownCurrent decline from peak | -82.03% | -50.01% | -32.02% |
Average DrawdownAverage peak-to-trough decline | -37.76% | -18.24% | -19.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.98% | 34.66% | +25.32% |
Volatility
BTCL vs. IBIT - Volatility Comparison
T-REX 2X Long Bitcoin Daily Target ETF (BTCL) has a higher volatility of 17.89% compared to iShares Bitcoin Trust ETF (IBIT) at 9.21%. This indicates that BTCL's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCL | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.89% | 9.21% | +8.68% |
Volatility (6M)Calculated over the trailing 6-month period | 68.12% | 33.74% | +34.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.68% | 44.46% | +44.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.26% | 49.60% | +46.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.26% | 49.60% | +46.66% |
BTCL vs. IBIT - Expense Ratio Comparison
BTCL has a 0.95% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
BTCL vs. IBIT - Dividend Comparison
BTCL's dividend yield for the trailing twelve months is around 4.10%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCL T-REX 2X Long Bitcoin Daily Target ETF | 4.10% | 1.70% | 4.35% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, BTCL and IBIT 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.
BTCL has higher volatility (17.89%) compared to IBIT (9.21%). In terms of maximum drawdown, BTCL dropped -84.01% vs IBIT's -53.30%.
On 1-year performance, IBIT leads with -44.50% vs -78.91% for BTCL. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 9.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIT has performed better with a -44.50% return vs -78.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.95% for BTCL.
BTCL has the higher dividend yield at 4.10%, compared with 0.00% for IBIT.
BTCL is categorized as Leveraged Cryptocurrency, while IBIT is Cryptocurrency. They also come from different issuers: REX and iShares. Their fees differ too: 0.95% for BTCL and 0.25% for IBIT.
BTCL currently has the higher Sharpe Ratio (-0.91 vs -1.04), 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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