ENZL vs. IBIT
ENZL (iShares MSCI New Zealand ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - ENZL is a Asia Pacific Equities fund tracking the MSCI New Zealand Investable Market 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, ENZL returned 3.15% vs -38.74% for IBIT. At a 0.24 correlation, their price movements are largely independent. ENZL charges 0.50%/yr vs 0.25%/yr for IBIT.
Performance
ENZL vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, ENZL achieves a -0.60% return, which is significantly higher than IBIT's -25.48% return.
ENZL
- 1D
- -1.64%
- 1M
- 0.88%
- YTD
- -0.60%
- 6M
- -1.29%
- 1Y
- 3.15%
- 3Y*
- -0.29%
- 5Y*
- -4.24%
- 10Y*
- 3.34%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENZL vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ENZL iShares MSCI New Zealand ETF | -0.60% | 2.47% | -3.56% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between ENZL and IBIT is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.24 |
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Return for Risk
ENZL vs. IBIT — Risk / Return Rank
ENZL
IBIT
ENZL vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI New Zealand ETF (ENZL) 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.
| ENZL | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.86 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | -0.79 | +1.03 |
| Martin ratioReturn relative to average drawdown | 0.70 | -1.36 | +2.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ENZL | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.20 | -0.89 | +1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.30 | +0.07 |
Drawdowns
ENZL vs. IBIT - Drawdown Comparison
The maximum ENZL drawdown since its inception was -42.44%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for ENZL and IBIT.
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Drawdown Indicators
| ENZL | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.44% | -49.36% | +6.92% |
Max Drawdown (1Y)Largest decline over 1 year | -12.90% | -49.36% | +36.46% |
Max Drawdown (3Y)Largest decline over 3 years | -20.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.44% | — | — |
Current DrawdownCurrent decline from peak | -29.65% | -48.10% | +18.45% |
Average DrawdownAverage peak-to-trough decline | -12.78% | -16.02% | +3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 28.44% | -23.90% |
Volatility
ENZL vs. IBIT - Volatility Comparison
The current volatility for iShares MSCI New Zealand ETF (ENZL) is 6.01%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that ENZL 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
| ENZL | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.01% | 9.50% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 13.02% | 34.44% | -21.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.97% | 43.73% | -27.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.59% | 50.19% | -31.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.44% | 50.19% | -29.75% |
ENZL vs. IBIT - Expense Ratio Comparison
ENZL has a 0.50% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
ENZL vs. IBIT - Dividend Comparison
ENZL's dividend yield for the trailing twelve months is around 2.25%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENZL iShares MSCI New Zealand ETF | 2.25% | 2.23% | 2.13% | 3.00% | 1.62% | 2.46% | 1.66% | 3.35% | 3.60% | 3.69% | 4.79% | 4.29% |
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
ENZL and IBIT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to ENZL (6.01%). In terms of maximum drawdown, ENZL dropped -42.44% vs IBIT's -49.36%.
On 1-year performance, ENZL leads with 3.15% vs -38.74% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, ENZL has been the lower-risk option at 6.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ENZL has performed better with a 3.15% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.50% for ENZL.
ENZL has the higher dividend yield at 2.25%, compared with 0.00% for IBIT.
ENZL is categorized as Asia Pacific Equities, while IBIT is Cryptocurrency. ENZL tracks MSCI New Zealand Investable Market Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.50% for ENZL and 0.25% for IBIT.
ENZL currently has the higher Sharpe Ratio (0.20 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.
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