GBTC vs. AAPL

Last updated Jun 14, 2026

GBTC (Grayscale Bitcoin Trust ETF) is Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index, while AAPL (Apple Inc) is a stock. Over the past 10 years, GBTC returned 46.47%/yr vs 29.36%/yr for AAPL. At a 0.17 correlation, their price movements are largely independent.

Performance

GBTC vs. AAPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Trust ETF (GBTC) and Apple Inc (AAPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBTC achieves a -27.82% return, which is significantly lower than AAPL's 7.29% return. Over the past 10 years, GBTC has outperformed AAPL with an annualized return of 46.47%, while AAPL has yielded a comparatively lower 29.36% annualized return.

GBTC

• 1D: 0.04%
• 1M: -22.02%
• YTD: -27.82%
• 6M: -30.09%
• 1Y: -40.43%
• 3Y*: 55.55%
• 5Y*: 9.90%
• 10Y*: 46.47%

AAPL

• 1D: -1.52%
• 1M: -2.37%
• YTD: 7.29%
• 6M: 4.81%
• 1Y: 48.78%
• 3Y*: 17.21%
• 5Y*: 18.59%
• 10Y*: 29.36%

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

GBTC vs. AAPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GBTC Grayscale Bitcoin Trust ETF	-27.82%	-7.65%	113.81%	317.61%	-75.80%	7.03%	290.72%	106.56%	-82.10%	1,787.72%
AAPL Apple Inc	7.29%	9.05%	30.71%	49.01%	-26.40%	34.65%	82.31%	88.96%	-5.39%	48.46%

Correlation

The correlation between GBTC and AAPL is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 4, 2015	0.17

The correlation between GBTC and AAPL shifts across timeframes, from 0.15 (3 years) to 0.27 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Total Revenue (TTM) GBTC : $0.00 AAPL : $451.44B
Gross Profit (TTM) GBTC : $0.00 AAPL : $216.07B
EBITDA (TTM) GBTC : $4.58B AAPL : $153.63B

Return for Risk

GBTC vs. AAPL — Risk / Return Rank

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

GBTC

GBTC Risk / Return Rank: 2
GBTC Sharpe Ratio Rank: 2
GBTC Sortino Ratio Rank: 2
GBTC Omega Ratio Rank: 2
GBTC Calmar Ratio Rank: 3
GBTC Martin Ratio Rank: 2

AAPL

AAPL Risk / Return Rank: 88
AAPL Sharpe Ratio Rank: 90
AAPL Sortino Ratio Rank: 89
AAPL Omega Ratio Rank: 88
AAPL Calmar Ratio Rank: 86
AAPL Martin Ratio Rank: 86

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.

GBTC vs. AAPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust ETF (GBTC) and Apple Inc (AAPL). 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.

	GBTC	AAPL	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	2.07	-3.02
Sortino ratio: Return per unit of downside risk	-1.34	2.93	-4.28
Omega ratio: Gain probability vs. loss probability	0.85	1.38	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.79	3.40	-4.19
Martin ratio: Return relative to average drawdown	-1.39	8.47	-9.86

GBTC vs. AAPL - Sharpe Ratio Comparison

The current GBTC Sharpe Ratio is -0.94, which is lower than the AAPL Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of GBTC and AAPL, 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

GBTC vs. AAPL - Drawdown Comparison

The maximum GBTC drawdown since its inception was -89.91%, which is greater than AAPL's maximum drawdown of -81.80%. Use the drawdown chart below to compare losses from any high point for GBTC and AAPL.

Drawdown Indicators

	GBTC	AAPL	Difference
Max Drawdown Largest peak-to-trough decline	-89.91%	-81.80%	-8.11%
Max Drawdown (1Y) Largest decline over 1 year	-52.45%	-13.80%	-38.65%
Max Drawdown (3Y) Largest decline over 3 years	-52.45%	-33.36%	-19.09%
Max Drawdown (5Y) Largest decline over 5 years	-85.42%	-33.36%	-52.06%
Max Drawdown (10Y) Largest decline over 10 years	-89.91%	-38.52%	-51.39%
Current Drawdown Current decline from peak	-49.87%	-7.64%	-42.23%
Average Drawdown Average peak-to-trough decline	-43.43%	-29.59%	-13.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.85%	5.53%	+24.32%

Volatility

GBTC vs. AAPL - Volatility Comparison

Grayscale Bitcoin Trust ETF (GBTC) has a higher volatility of 11.97% compared to Apple Inc (AAPL) at 6.73%. This indicates that GBTC's price experiences larger fluctuations and is considered to be riskier than AAPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBTC	AAPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.97%	6.73%	+5.24%
Volatility (6M) Calculated over the trailing 6-month period	34.41%	16.53%	+17.88%
Volatility (1Y) Calculated over the trailing 1-year period	44.01%	22.64%	+21.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.25%	27.52%	+34.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.84%	28.92%	+52.92%

Dividends

GBTC vs. AAPL - Dividend Comparison

GBTC has not paid dividends to shareholders, while AAPL's dividend yield for the trailing twelve months is around 0.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPL Apple Inc	0.36%	0.38%	0.40%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%
GBTC Grayscale Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.61%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GBTC and AAPL in my portfolio?

GBTC and AAPL have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GBTC or AAPL?

GBTC has higher volatility (11.97%) compared to AAPL (6.73%). In terms of maximum drawdown, GBTC dropped -89.91% vs AAPL's -81.80%.

Which has better risk-adjusted returns?

AAPL currently has the higher Sharpe Ratio (2.07 vs -0.94), 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.