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GBTC vs. BITO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


GBTCBITO
YTD Return62.85%46.45%
1Y Return223.47%91.54%
Sharpe Ratio3.631.79
Daily Std Dev60.35%50.84%
Max Drawdown-89.91%-77.86%
Current Drawdown-14.03%-16.31%

Correlation

-0.50.00.51.00.9

The correlation between GBTC and BITO is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

GBTC vs. BITO - Performance Comparison

In the year-to-date period, GBTC achieves a 62.85% return, which is significantly higher than BITO's 46.45% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


0.00%50.00%100.00%150.00%200.00%NovemberDecember2024FebruaryMarchApril
158.66%
111.24%
GBTC
BITO

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Grayscale Bitcoin Trust (BTC)

ProShares Bitcoin Strategy ETF

Risk-Adjusted Performance

GBTC vs. BITO - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust (BTC) (GBTC) and ProShares Bitcoin Strategy ETF (BITO). 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
Sharpe ratio
The chart of Sharpe ratio for GBTC, currently valued at 3.63, compared to the broader market-2.00-1.000.001.002.003.003.63
Sortino ratio
The chart of Sortino ratio for GBTC, currently valued at 3.87, compared to the broader market-4.00-2.000.002.004.006.003.87
Omega ratio
The chart of Omega ratio for GBTC, currently valued at 1.45, compared to the broader market0.501.001.501.45
Calmar ratio
The chart of Calmar ratio for GBTC, currently valued at 2.89, compared to the broader market0.001.002.003.004.005.002.89
Martin ratio
The chart of Martin ratio for GBTC, currently valued at 23.04, compared to the broader market-10.000.0010.0020.0030.0023.04
BITO
Sharpe ratio
The chart of Sharpe ratio for BITO, currently valued at 1.79, compared to the broader market-2.00-1.000.001.002.003.001.79
Sortino ratio
The chart of Sortino ratio for BITO, currently valued at 2.46, compared to the broader market-4.00-2.000.002.004.006.002.46
Omega ratio
The chart of Omega ratio for BITO, currently valued at 1.29, compared to the broader market0.501.001.501.29
Calmar ratio
The chart of Calmar ratio for BITO, currently valued at 1.40, compared to the broader market0.001.002.003.004.005.001.40
Martin ratio
The chart of Martin ratio for BITO, currently valued at 9.01, compared to the broader market-10.000.0010.0020.0030.009.01

GBTC vs. BITO - Sharpe Ratio Comparison

The current GBTC Sharpe Ratio is 3.63, which is higher than the BITO Sharpe Ratio of 1.79. The chart below compares the 12-month rolling Sharpe Ratio of GBTC and BITO.


Rolling 12-month Sharpe Ratio0.002.004.006.008.00NovemberDecember2024FebruaryMarchApril
3.63
1.79
GBTC
BITO

Dividends

GBTC vs. BITO - Dividend Comparison

GBTC has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 16.67%.


TTM2023202220212020201920182017
GBTC
Grayscale Bitcoin Trust (BTC)
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.26%
BITO
ProShares Bitcoin Strategy ETF
16.67%15.14%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

GBTC vs. BITO - Drawdown Comparison

The maximum GBTC drawdown since its inception was -89.91%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for GBTC and BITO. For additional features, visit the drawdowns tool.


-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2024FebruaryMarchApril
-14.03%
-16.31%
GBTC
BITO

Volatility

GBTC vs. BITO - Volatility Comparison

Grayscale Bitcoin Trust (BTC) (GBTC) and ProShares Bitcoin Strategy ETF (BITO) have volatilities of 18.69% and 19.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


10.00%12.00%14.00%16.00%18.00%20.00%22.00%NovemberDecember2024FebruaryMarchApril
18.69%
19.04%
GBTC
BITO