BYLD vs. IBIT
BYLD (iShares Yield Optimized Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - BYLD is a Intermediate Core-Plus Bond fund tracking the Morningstar U.S. Bond Market Yield-Optimized Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, BYLD returned 6.22% vs -39.82% for IBIT. At a 0.15 correlation, their price movements are largely independent. BYLD charges 0.17%/yr vs 0.25%/yr for IBIT.
Performance
BYLD vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, BYLD achieves a 1.50% return, which is significantly higher than IBIT's -28.88% return.
BYLD
- 1D
- 0.04%
- 1M
- 0.88%
- YTD
- 1.50%
- 6M
- 1.48%
- 1Y
- 6.22%
- 3Y*
- 6.54%
- 5Y*
- 2.21%
- 10Y*
- 2.97%
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BYLD vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 1.50% | 8.41% | 4.72% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between BYLD and IBIT is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.15 |
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Return for Risk
BYLD vs. IBIT — Risk / Return Rank
BYLD
IBIT
BYLD vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) 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.
| BYLD | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.53 | ||
| Sortino ratioReturn per unit of downside risk | +3.68 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.86 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | -0.77 | +3.07 |
| Martin ratioReturn relative to average drawdown | 9.29 | -1.30 | +10.60 |
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Drawdowns
BYLD vs. IBIT - Drawdown Comparison
The maximum BYLD drawdown since its inception was -14.75%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for BYLD and IBIT.
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Drawdown Indicators
| BYLD | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -52.11% | +37.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -52.11% | +49.40% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | -50.47% | +50.34% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -16.85% | +14.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 30.58% | -29.91% |
Volatility
BYLD vs. IBIT - Volatility Comparison
The current volatility for iShares Yield Optimized Bond ETF (BYLD) is 1.13%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. This indicates that BYLD 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.
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Volatility by Period
| BYLD | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 13.18% | -12.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 34.64% | -31.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 44.31% | -40.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 50.22% | -45.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 50.22% | -44.79% |
BYLD vs. IBIT - Expense Ratio Comparison
BYLD has a 0.17% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BYLD vs. IBIT - Dividend Comparison
BYLD's dividend yield for the trailing twelve months is around 5.35%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BYLD and IBIT have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.18%) compared to BYLD (1.13%). In terms of maximum drawdown, BYLD dropped -14.75% vs IBIT's -52.11%.
On 1-year performance, BYLD leads with 6.22% vs -39.82% for IBIT. On fees, BYLD is cheaper at 0.17% per year. On volatility, BYLD has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BYLD has performed better with a 6.22% return vs -39.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BYLD is cheaper with a 0.17% expense ratio, compared with 0.25% for IBIT.
BYLD has the higher dividend yield at 5.35%, compared with 0.00% for IBIT.
BYLD is categorized as Intermediate Core-Plus Bond, while IBIT is Cryptocurrency. BYLD tracks Morningstar U.S. Bond Market Yield-Optimized Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.17% for BYLD and 0.25% for IBIT.
BYLD currently has the higher Sharpe Ratio (1.62 vs -0.90), 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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