BTCLX vs. IBIT

Last updated Jun 3, 2026

BTCLX (Vest Bitcoin Strategy Managed Volatility Fund Investor Class) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. BTCLX is actively managed, while IBIT is passively managed. Over the past year, BTCLX returned -29.41% vs -38.74% for IBIT. With a 0.95 correlation, they move nearly in lockstep. BTCLX charges 3.44%/yr vs 0.25%/yr for IBIT.

Performance

BTCLX vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vest Bitcoin Strategy Managed Volatility Fund Investor Class (BTCLX) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCLX achieves a -15.79% return, which is significantly higher than IBIT's -25.48% return.

BTCLX

• 1D: -2.73%
• 1M: -8.81%
• YTD: -15.79%
• 6M: -18.82%
• 1Y: -29.41%
• 3Y*: 26.73%
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -2.76%
• 1M: -18.50%
• YTD: -25.48%
• 6M: -29.84%
• 1Y: -38.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCLX vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCLX Vest Bitcoin Strategy Managed Volatility Fund Investor Class	-15.79%	-13.23%	81.86%
IBIT iShares Bitcoin Trust ETF	-25.48%	-6.41%	99.21%

Correlation

The correlation between BTCLX and IBIT is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.95

The correlation between BTCLX and IBIT has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

BTCLX vs. IBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTCLX

BTCLX Risk / Return Rank: 1
BTCLX Sharpe Ratio Rank: 1
BTCLX Sortino Ratio Rank: 1
BTCLX Omega Ratio Rank: 1
BTCLX Calmar Ratio Rank: 1
BTCLX Martin Ratio Rank: 1

IBIT

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTCLX vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vest Bitcoin Strategy Managed Volatility Fund Investor Class (BTCLX) 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.

	BTCLX	IBIT	Difference
Sharpe ratio Return per unit of total volatility	-0.76	-0.89	+0.13
Sortino ratio Return per unit of downside risk	-0.97	-1.23	+0.26
Omega ratio Gain probability vs. loss probability	0.89	0.86	+0.03
Calmar ratio Return relative to maximum drawdown	-0.69	-0.79	+0.10
Martin ratio Return relative to average drawdown	-1.22	-1.36	+0.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCLX vs. IBIT - Sharpe Ratio Comparison

The current BTCLX Sharpe Ratio is -0.76, which is comparable to the IBIT Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of BTCLX and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTCLX	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.76	-0.89	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.30	-0.15

Drawdowns

BTCLX vs. IBIT - Drawdown Comparison

The maximum BTCLX drawdown since its inception was -64.43%, which is greater than IBIT's maximum drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for BTCLX and IBIT.

Drawdown Indicators

	BTCLX	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-64.43%	-49.36%	-15.07%
Max Drawdown (1Y) Largest decline over 1 year	-45.44%	-49.36%	+3.92%
Max Drawdown (3Y) Largest decline over 3 years	-45.44%	—	—
Current Drawdown Current decline from peak	-40.80%	-48.10%	+7.30%
Average Drawdown Average peak-to-trough decline	-27.58%	-16.02%	-11.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.77%	28.44%	-2.67%

Volatility

BTCLX vs. IBIT - Volatility Comparison

The current volatility for Vest Bitcoin Strategy Managed Volatility Fund Investor Class (BTCLX) is 8.38%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that BTCLX experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCLX	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.38%	9.50%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	30.15%	34.44%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	39.84%	43.73%	-3.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.68%	50.19%	-5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.68%	50.19%	-5.51%

BTCLX vs. IBIT - Expense Ratio Comparison

BTCLX has a 3.44% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

BTCLX vs. IBIT - Dividend Comparison

BTCLX's dividend yield for the trailing twelve months is around 15.24%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BTCLX Vest Bitcoin Strategy Managed Volatility Fund Investor Class	15.24%	12.83%	9.04%	10.73%	0.00%	12.81%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTCLX and IBIT in my portfolio?

With a correlation of 0.94, BTCLX 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.

Which is riskier, BTCLX or IBIT?

IBIT has higher volatility (9.50%) compared to BTCLX (8.38%). In terms of maximum drawdown, BTCLX dropped -64.43% vs IBIT's -49.36%.

Which has better risk-adjusted returns?

BTCLX currently has the higher Sharpe Ratio (-0.76 vs -0.89), 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.