FOVL vs. IBIT

Last updated Jun 24, 2026

FOVL (iShares Focused Value Factor ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - FOVL is a Mid Cap Value Equities fund tracking the MSCI USA IMI Focused Value Factor Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. At a 0.25 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

FOVL vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Focused Value Factor ETF (FOVL) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FOVL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -3.26%
• 1M: -17.81%
• YTD: -28.88%
• 6M: -28.88%
• 1Y: -39.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FOVL vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FOVL iShares Focused Value Factor ETF	0.00%	6.43%	24.26%
IBIT iShares Bitcoin Trust ETF	-28.88%	-6.41%	89.87%

Correlation

The correlation between FOVL and IBIT is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.25

The correlation between FOVL and IBIT shifts across timeframes, from -0.01 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FOVL vs. IBIT — Risk / Return Rank

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

FOVL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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.

FOVL vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Focused Value Factor ETF (FOVL) 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.

	FOVL	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.90	—
Sortino ratio: Return per unit of downside risk	—	-1.25	—
Omega ratio: Gain probability vs. loss probability	—	0.86	—
Calmar ratio: Return relative to maximum drawdown	—	-0.77	—
Martin ratio: Return relative to average drawdown	—	-1.30	—

Drawdowns

Drawdown Indicators

	FOVL	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	—	-52.11%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-52.11%	—
Current Drawdown Current decline from peak	—	-50.47%	—
Average Drawdown Average peak-to-trough decline	—	-16.85%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.58%	—

Volatility

Volatility by Period

	FOVL	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	44.31%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	50.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	50.22%	—

FOVL vs. IBIT - Expense Ratio Comparison

Both FOVL and IBIT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FOVL vs. IBIT - Dividend Comparison

Neither FOVL nor IBIT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FOVL iShares Focused Value Factor ETF	0.00%	1.36%	2.08%	2.59%	3.38%	2.80%	2.88%	2.09%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FOVL and IBIT in my portfolio?

FOVL and IBIT have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FOVL or IBIT?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FOVL or IBIT?

FOVL and IBIT have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, FOVL or IBIT?

FOVL and IBIT have nearly identical dividend yields, around 0.00%.

What is the main difference between FOVL and IBIT?

FOVL is categorized as Mid Cap Value Equities, while IBIT is Cryptocurrency. FOVL tracks MSCI USA IMI Focused Value Factor Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant.