DSPIX vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Bitcoin (BTC-USD).

DSPIX is a passively managed fund by BNY Mellon that tracks the performance of the S&P 500 Index. It was launched on Sep 30, 1993.

Performance

DSPIX vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

DSPIX vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DSPIX BNY Mellon Institutional S&P 500 Stock Index Fund	-4.37%	17.81%	24.40%	26.36%	-18.51%	28.64%	14.18%	31.31%	-4.36%	21.59%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Returns By Period

In the year-to-date period, DSPIX achieves a -4.37% return, which is significantly higher than BTC-USD's -21.63% return. Over the past 10 years, DSPIX has underperformed BTC-USD with an annualized return of 13.50%, while BTC-USD has yielded a comparatively higher 66.45% annualized return.

DSPIX

• 1D: 2.93%
• 1M: -5.03%
• YTD: -4.37%
• 6M: -2.09%
• 1Y: 17.31%
• 3Y*: 18.13%
• 5Y*: 11.57%
• 10Y*: 13.50%

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

DSPIX vs. BTC-USD — Risk / Return Rank

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

DSPIX

DSPIX Risk / Return Rank: 58
DSPIX Sharpe Ratio Rank: 47
DSPIX Sortino Ratio Rank: 51
DSPIX Omega Ratio Rank: 55
DSPIX Calmar Ratio Rank: 62
DSPIX Martin Ratio Rank: 74

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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.

DSPIX vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Bitcoin (BTC-USD). 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.

	DSPIX	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	0.97	-0.44	+1.41
Sortino ratio Return per unit of downside risk	1.49	-0.38	+1.87
Omega ratio Gain probability vs. loss probability	1.23	0.96	+0.27
Calmar ratio Return relative to maximum drawdown	1.52	-1.11	+2.62
Martin ratio Return relative to average drawdown	7.28	-1.99	+9.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DSPIX vs. BTC-USD - Sharpe Ratio Comparison

The current DSPIX Sharpe Ratio is 0.97, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of DSPIX and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DSPIX	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	-0.44	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.05	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.97	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.19	-0.64

Correlation

The correlation between DSPIX and BTC-USD is 0.13, 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.

Drawdowns

DSPIX vs. BTC-USD - Drawdown Comparison

The maximum DSPIX drawdown since its inception was -55.32%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for DSPIX and BTC-USD.

Drawdown Indicators

	DSPIX	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-55.32%	-85.30%	+29.98%
Max Drawdown (1Y) Largest decline over 1 year	-12.15%	-49.65%	+37.50%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-76.67%	+52.05%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	-83.80%	+50.01%
Current Drawdown Current decline from peak	-6.25%	-45.02%	+38.77%
Average Drawdown Average peak-to-trough decline	-9.32%	-41.99%	+32.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	27.60%	-25.07%

Volatility

DSPIX vs. BTC-USD - Volatility Comparison

The current volatility for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) is 5.35%, while Bitcoin (BTC-USD) has a volatility of 13.58%. This indicates that DSPIX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPIX	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.35%	13.58%	-8.23%
Volatility (6M) Calculated over the trailing 6-month period	9.56%	35.98%	-26.42%
Volatility (1Y) Calculated over the trailing 1-year period	18.37%	36.76%	-18.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	46.90%	-29.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	56.70%	-38.69%