GBTC vs. ARKW
GBTC (Grayscale Bitcoin Trust ETF) and ARKW (ARK Next Generation Internet ETF) are both exchange-traded funds - GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index, while ARKW is a Mid Cap Growth Equities fund actively managed by ARK. GBTC is passively managed, while ARKW is actively managed. Over the past 10 years, GBTC returned 49.21%/yr vs 22.88%/yr for ARKW. At a 0.40 correlation, their price movements are largely independent. GBTC charges 1.50%/yr vs 0.76%/yr for ARKW.
Performance
GBTC vs. ARKW - Performance Comparison
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Returns By Period
In the year-to-date period, GBTC achieves a -27.82% return, which is significantly lower than ARKW's -0.87% return. Over the past 10 years, GBTC has outperformed ARKW with an annualized return of 49.21%, while ARKW has yielded a comparatively lower 22.88% annualized return.
GBTC
- 1D
- -2.74%
- 1M
- -22.25%
- YTD
- -27.82%
- 6M
- -31.83%
- 1Y
- -40.35%
- 3Y*
- 53.36%
- 5Y*
- 9.81%
- 10Y*
- 49.21%
ARKW
- 1D
- -0.08%
- 1M
- 3.39%
- YTD
- -0.87%
- 6M
- -4.77%
- 1Y
- 19.34%
- 3Y*
- 39.46%
- 5Y*
- 1.88%
- 10Y*
- 22.88%
GBTC vs. ARKW - 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% |
ARKW ARK Next Generation Internet ETF | -0.87% | 38.93% | 42.27% | 96.89% | -67.49% | -18.85% | 157.44% | 35.76% | 4.24% | 87.29% |
Correlation
The correlation between GBTC and ARKW is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 5, 2015 | 0.40 |
Over the past year, GBTC and ARKW have become more correlated (0.68) than their long-term average of 0.40, meaning their price movements have been converging.
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Return for Risk
GBTC vs. ARKW — Risk / Return Rank
GBTC
ARKW
GBTC vs. ARKW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust ETF (GBTC) and ARK Next Generation Internet ETF (ARKW). 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.
| GBTC | ARKW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.12 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 0.54 | -1.35 |
| Martin ratioReturn relative to average drawdown | -1.40 | 1.10 | -2.51 |
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
| GBTC | ARKW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | 0.59 | -1.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.04 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.61 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.58 | +0.08 |
Drawdowns
GBTC vs. ARKW - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, which is greater than ARKW's maximum drawdown of -80.52%. Use the drawdown chart below to compare losses from any high point for GBTC and ARKW.
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Drawdown Indicators
| GBTC | ARKW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -80.52% | -9.39% |
Max Drawdown (1Y)Largest decline over 1 year | -49.87% | -36.21% | -13.66% |
Max Drawdown (3Y)Largest decline over 3 years | -49.87% | -36.21% | -13.66% |
Max Drawdown (5Y)Largest decline over 5 years | -85.42% | -77.36% | -8.06% |
Max Drawdown (10Y)Largest decline over 10 years | -89.91% | -80.52% | -9.39% |
Current DrawdownCurrent decline from peak | -49.87% | -20.55% | -29.32% |
Average DrawdownAverage peak-to-trough decline | -43.43% | -23.98% | -19.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.81% | 17.55% | +11.26% |
Volatility
GBTC vs. ARKW - Volatility Comparison
Grayscale Bitcoin Trust ETF (GBTC) has a higher volatility of 9.07% compared to ARK Next Generation Internet ETF (ARKW) at 7.88%. This indicates that GBTC's price experiences larger fluctuations and is considered to be riskier than ARKW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBTC | ARKW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 7.88% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 33.86% | 23.49% | +10.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.69% | 32.86% | +10.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.44% | 43.49% | +18.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.20% | 37.68% | +44.52% |
GBTC vs. ARKW - Expense Ratio Comparison
GBTC has a 1.50% expense ratio, which is higher than ARKW's 0.76% expense ratio.
Dividends
GBTC vs. ARKW - Dividend Comparison
GBTC has not paid dividends to shareholders, while ARKW's dividend yield for the trailing twelve months is around 1.61%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARKW ARK Next Generation Internet ETF | 1.61% | 1.59% | 0.00% | 0.00% | 0.00% | 0.17% | 1.29% | 0.00% | 13.05% | 2.05% | 0.00% | 2.29% |
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
GBTC and ARKW have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (9.07%) compared to ARKW (7.88%). In terms of maximum drawdown, GBTC dropped -89.91% vs ARKW's -80.52%.
On 10-year performance, GBTC leads with 49.21% vs 22.88% for ARKW. On fees, ARKW is cheaper at 0.76% per year. On volatility, ARKW has been the lower-risk option at 7.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GBTC has performed better with a 49.21% return vs 22.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ARKW is cheaper with a 0.76% expense ratio, compared with 1.50% for GBTC.
ARKW has the higher dividend yield at 1.61%, compared with 0.00% for GBTC.
GBTC is categorized as Cryptocurrency, while ARKW is Mid Cap Growth Equities. They also come from different issuers: Grayscale and ARK. Their fees differ too: 1.50% for GBTC and 0.76% for ARKW.
ARKW currently has the higher Sharpe Ratio (0.59 vs -0.93), 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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