GBF vs. IBIT
GBF (iShares Government/Credit Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - GBF is a Intermediate Core Bond fund tracking the Bloomberg U.S. Government/Credit Bond 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, GBF returned 3.91% vs -45.30% for IBIT. At a 0.04 correlation, their price movements are largely independent. GBF charges 0.20%/yr vs 0.25%/yr for IBIT.
Performance
GBF vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, GBF achieves a 0.93% return, which is significantly higher than IBIT's -32.49% return.
GBF
- 1D
- 0.06%
- 1M
- 0.86%
- YTD
- 0.93%
- 6M
- 0.70%
- 1Y
- 3.91%
- 3Y*
- 3.73%
- 5Y*
- -0.13%
- 10Y*
- 1.40%
IBIT
- 1D
- -1.03%
- 1M
- -22.03%
- YTD
- -32.49%
- 6M
- -32.23%
- 1Y
- -45.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBF vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 0.93% | 6.41% | 1.87% |
IBIT iShares Bitcoin Trust ETF | -32.49% | -6.41% | 89.87% |
Correlation
The correlation between GBF and IBIT is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.04 |
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Return for Risk
GBF vs. IBIT — Risk / Return Rank
GBF
IBIT
GBF vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Government/Credit Bond ETF (GBF) 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.
| GBF | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +3.12 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.83 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | -0.86 | +2.29 |
| Martin ratioReturn relative to average drawdown | 3.98 | -1.47 | +5.45 |
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Drawdowns
GBF vs. IBIT - Drawdown Comparison
The maximum GBF drawdown since its inception was -19.67%, smaller than the maximum IBIT drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for GBF and IBIT.
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Drawdown Indicators
| GBF | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.67% | -52.98% | +33.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -52.98% | +50.25% |
Max Drawdown (3Y)Largest decline over 3 years | -5.78% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -4.16% | -52.98% | +48.82% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -16.97% | +13.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 30.94% | -29.96% |
Volatility
GBF vs. IBIT - Volatility Comparison
The current volatility for iShares Government/Credit Bond ETF (GBF) is 1.10%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.43%. This indicates that GBF 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
| GBF | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 13.43% | -12.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 34.60% | -31.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 44.41% | -40.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.94% | 50.21% | -44.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 50.21% | -44.93% |
GBF vs. IBIT - Expense Ratio Comparison
GBF has a 0.20% 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
GBF vs. IBIT - Dividend Comparison
GBF's dividend yield for the trailing twelve months is around 3.76%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 3.76% | 3.81% | 3.94% | 3.03% | 2.13% | 1.22% | 1.64% | 2.64% | 2.59% | 2.31% | 2.09% | 2.04% |
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
GBF and IBIT have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.43%) compared to GBF (1.10%). In terms of maximum drawdown, GBF dropped -19.67% vs IBIT's -52.98%.
On 1-year performance, GBF leads with 3.91% vs -45.30% for IBIT. On fees, GBF is cheaper at 0.20% per year. On volatility, GBF has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GBF has performed better with a 3.91% return vs -45.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBF is cheaper with a 0.20% expense ratio, compared with 0.25% for IBIT.
GBF has the higher dividend yield at 3.76%, compared with 0.00% for IBIT.
GBF is categorized as Intermediate Core Bond, while IBIT is Cryptocurrency. GBF tracks Bloomberg U.S. Government/Credit Bond Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.20% for GBF and 0.25% for IBIT.
GBF currently has the higher Sharpe Ratio (1.05 vs -1.02), 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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