GARP vs. IBIT

Last updated Aug 2, 2026

GARP (iShares MSCI USA Quality GARP ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - GARP is a Quality Factor fund tracking the MSCI USA Quality GARP Select 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, GARP returned 31.75% vs -44.50% for IBIT. Their 0.39 correlation means their historical movements had little consistent relationship. GARP charges 0.15%/yr vs 0.25%/yr for IBIT.

Performance

GARP vs. IBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, GARP achieves a 16.89% return, which is significantly higher than IBIT's -28.22% return.

GARP

• 1D: 0.66%
• 1M: -1.22%
• 6M: 14.45%
• YTD: 16.89%
• 1Y: 31.75%
• 3Y*: 28.85%
• 5Y*: 17.48%
• 10Y*: —
• ALL TIME*: 20.07%

IBIT

• 1D: -2.89%
• 1M: 2.21%
• 6M: -24.95%
• YTD: -28.22%
• 1Y: -44.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GARP iShares MSCI USA Quality GARP ETF	$25.65M	$25.43M	$23.00M
IBIT iShares Bitcoin Trust ETF	$1.30B	$1.34B	$1.68B

GARP vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GARP iShares MSCI USA Quality GARP ETF	16.89%	21.49%	36.58%
IBIT iShares Bitcoin Trust ETF	-28.22%	-6.41%	89.87%

Correlation

The correlation between GARP and IBIT is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.39

Return for Risk

GARP vs. IBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GARP

GARP Risk / Return Rank: 64
GARP Sharpe Ratio Rank: 66
GARP Sortino Ratio Rank: 62
GARP Omega Ratio Rank: 60
GARP Calmar Ratio Rank: 63
GARP Martin Ratio Rank: 66

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GARP vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) 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.

	GARP	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.50	-1.04	+2.55
Sortino ratio: Return per unit of downside risk	2.08	-1.57	+3.65
Omega ratio: Gain probability vs. loss probability	1.26	0.83	+0.43
Calmar ratio: Return relative to maximum drawdown	2.19	-0.87	+3.07
Martin ratio: Return relative to average drawdown	7.99	-1.34	+9.33

GARP vs. IBIT - Sharpe Ratio Comparison

The current GARP Sharpe Ratio is 1.50, which is higher than the IBIT Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of GARP and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GARP vs. IBIT - Drawdown Comparison

The maximum GARP drawdown since its inception was -31.34%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for GARP and IBIT.

Drawdown Indicators

	GARP	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-53.30%	+21.96%
Max Drawdown (1Y) Largest decline over 1 year	-13.69%	-53.30%	+39.61%
Max Drawdown (3Y) Largest decline over 3 years	-23.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.61%	—	—
Current Drawdown Current decline from peak	-4.34%	-50.01%	+45.67%
Average Drawdown Average peak-to-trough decline	-7.27%	-18.24%	+10.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	34.66%	-30.91%

Volatility

GARP vs. IBIT - Volatility Comparison

The current volatility for iShares MSCI USA Quality GARP ETF (GARP) is 5.68%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.21%. This indicates that GARP 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.

Volatility by Period

	GARP	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	9.21%	-3.53%
Volatility (6M) Calculated over the trailing 6-month period	16.18%	33.74%	-17.56%
Volatility (1Y) Calculated over the trailing 1-year period	20.02%	44.46%	-24.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.34%	49.60%	-27.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.92%	49.60%	-25.68%

GARP vs. IBIT - Expense Ratio Comparison

GARP has a 0.15% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GARP vs. IBIT - Dividend Comparison

GARP's dividend yield for the trailing twelve months is around 0.27%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	0.27%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GARP and IBIT in my portfolio?

GARP and IBIT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GARP or IBIT?

IBIT has higher volatility (9.21%) compared to GARP (5.68%). In terms of maximum drawdown, GARP dropped -31.34% vs IBIT's -53.30%.

Which ETF is better, GARP or IBIT?

On 1-year performance, GARP leads with 31.75% vs -44.50% for IBIT. On fees, GARP is cheaper at 0.15% per year. On volatility, GARP has been the lower-risk option at 5.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GARP or IBIT?

Over the 1-year period, GARP has performed better with a 31.75% return vs -44.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GARP or IBIT?

GARP is cheaper with a 0.15% expense ratio, compared with 0.25% for IBIT.

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

GARP has the higher dividend yield at 0.27%, compared with 0.00% for IBIT.

What is the main difference between GARP and IBIT?

GARP is categorized as Quality Factor, while IBIT is Cryptocurrency. GARP tracks MSCI USA Quality GARP Select Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.15% for GARP and 0.25% for IBIT.

Which has better risk-adjusted returns?

GARP currently has the higher Sharpe Ratio (1.50 vs -1.04), 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.