PortfoliosLab logo
DEFI vs. GBTC
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between DEFI and GBTC is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


-0.50.00.51.0
Correlation: 0.3

Performance

DEFI vs. GBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hashdex Bitcoin Futures ETF (DEFI) and Grayscale Bitcoin Trust (BTC) (GBTC). The values are adjusted to include any dividend payments, if applicable.

200.00%300.00%400.00%500.00%600.00%NovemberDecember2025FebruaryMarchApril
327.45%
517.03%
DEFI
GBTC

Key characteristics

Sharpe Ratio

DEFI:

0.72

GBTC:

0.44

Sortino Ratio

DEFI:

1.32

GBTC:

1.00

Omega Ratio

DEFI:

1.16

GBTC:

1.12

Calmar Ratio

DEFI:

1.37

GBTC:

0.71

Martin Ratio

DEFI:

2.99

GBTC:

1.56

Ulcer Index

DEFI:

13.02%

GBTC:

15.81%

Daily Std Dev

DEFI:

54.37%

GBTC:

55.75%

Max Drawdown

DEFI:

-28.47%

GBTC:

-89.91%

Current Drawdown

DEFI:

-12.96%

GBTC:

-12.74%

Returns By Period

In the year-to-date period, DEFI achieves a -0.27% return, which is significantly lower than GBTC's -0.14% return.


DEFI

YTD

-0.27%

1M

6.30%

6M

36.25%

1Y

45.00%

5Y*

N/A

10Y*

N/A

GBTC

YTD

-0.14%

1M

6.02%

6M

36.08%

1Y

29.91%

5Y*

54.15%

10Y*

N/A

*Annualized

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Risk-Adjusted Performance

DEFI vs. GBTC — Risk-Adjusted Performance Rank

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

DEFI
The Risk-Adjusted Performance Rank of DEFI is 7676
Overall Rank
The Sharpe Ratio Rank of DEFI is 7171
Sharpe Ratio Rank
The Sortino Ratio Rank of DEFI is 7777
Sortino Ratio Rank
The Omega Ratio Rank of DEFI is 7272
Omega Ratio Rank
The Calmar Ratio Rank of DEFI is 8888
Calmar Ratio Rank
The Martin Ratio Rank of DEFI is 7373
Martin Ratio Rank

GBTC
The Risk-Adjusted Performance Rank of GBTC is 7070
Overall Rank
The Sharpe Ratio Rank of GBTC is 7070
Sharpe Ratio Rank
The Sortino Ratio Rank of GBTC is 6767
Sortino Ratio Rank
The Omega Ratio Rank of GBTC is 6363
Omega Ratio Rank
The Calmar Ratio Rank of GBTC is 7979
Calmar Ratio Rank
The Martin Ratio Rank of GBTC is 7070
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

DEFI vs. GBTC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Hashdex Bitcoin Futures ETF (DEFI) and Grayscale Bitcoin Trust (BTC) (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.


The chart of Sharpe ratio for DEFI, currently valued at 0.72, compared to the broader market-1.000.001.002.003.004.00
DEFI: 0.72
GBTC: 0.44
The chart of Sortino ratio for DEFI, currently valued at 1.32, compared to the broader market-2.000.002.004.006.008.00
DEFI: 1.32
GBTC: 1.00
The chart of Omega ratio for DEFI, currently valued at 1.16, compared to the broader market0.501.001.502.002.50
DEFI: 1.16
GBTC: 1.12
The chart of Calmar ratio for DEFI, currently valued at 1.37, compared to the broader market0.002.004.006.008.0010.0012.00
DEFI: 1.37
GBTC: 0.71
The chart of Martin ratio for DEFI, currently valued at 2.99, compared to the broader market0.0020.0040.0060.00
DEFI: 2.99
GBTC: 1.56

The current DEFI Sharpe Ratio is 0.72, which is higher than the GBTC Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of DEFI and GBTC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-0.500.000.501.001.502.002.503.00NovemberDecember2025FebruaryMarchApril
0.72
0.44
DEFI
GBTC

Dividends

DEFI vs. GBTC - Dividend Comparison

Neither DEFI nor GBTC has paid dividends to shareholders.


TTM20242023202220212020201920182017
DEFI
Hashdex Bitcoin Futures ETF
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GBTC
Grayscale Bitcoin Trust (BTC)
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.23%

Drawdowns

DEFI vs. GBTC - Drawdown Comparison

The maximum DEFI drawdown since its inception was -28.47%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for DEFI and GBTC. For additional features, visit the drawdowns tool.


-30.00%-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-12.96%
-12.74%
DEFI
GBTC

Volatility

DEFI vs. GBTC - Volatility Comparison

Hashdex Bitcoin Futures ETF (DEFI) and Grayscale Bitcoin Trust (BTC) (GBTC) have volatilities of 16.12% and 16.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


8.00%10.00%12.00%14.00%16.00%18.00%20.00%NovemberDecember2025FebruaryMarchApril
16.12%
16.51%
DEFI
GBTC