DEFI vs. IBIT
Compare and contrast key facts about Hashdex Bitcoin Futures ETF (DEFI) and iShares Bitcoin Trust (IBIT).
DEFI and IBIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DEFI is a passively managed fund by Hashdex that tracks the performance of the HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index. It was launched on Sep 15, 2022. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024. Both DEFI and IBIT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DEFI or IBIT.
Key characteristics
| DEFI | IBIT | |
|---|---|---|
| Daily Std Dev | 49.53% | 58.76% |
| Max Drawdown | -25.83% | -22.79% |
| Current Drawdown | -15.16% | -14.18% |
Correlation
The correlation between DEFI and IBIT is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
DEFI vs. IBIT - Performance Comparison
The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DEFI vs. IBIT - Expense Ratio Comparison
DEFI has a 0.90% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Risk-Adjusted Performance
DEFI vs. IBIT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Bitcoin Futures ETF (DEFI) and iShares Bitcoin Trust (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.
Not enough dataDividends
DEFI vs. IBIT - Dividend Comparison
Neither DEFI nor IBIT has paid dividends to shareholders.
Drawdowns
DEFI vs. IBIT - Drawdown Comparison
The maximum DEFI drawdown since its inception was -25.83%, which is greater than IBIT's maximum drawdown of -22.79%. Use the drawdown chart below to compare losses from any high point for DEFI and IBIT. For additional features, visit the drawdowns tool.
Volatility
DEFI vs. IBIT - Volatility Comparison
The current volatility for Hashdex Bitcoin Futures ETF (DEFI) is 14.00%, while iShares Bitcoin Trust (IBIT) has a volatility of 15.03%. This indicates that DEFI 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.