GBTC vs. MOTI
GBTC (Grayscale Bitcoin Trust ETF) and MOTI (VanEck Vectors Morningstar International Moat ETF) are both exchange-traded funds - GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index, while MOTI is a Foreign Large Cap Equities fund tracking the Morningstar Global ex-US Moat Focus Index. Both are passively managed. Over the past 10 years, GBTC returned 46.15%/yr vs 6.42%/yr for MOTI. At a 0.21 correlation, their price movements are largely independent. GBTC charges 1.50%/yr vs 0.57%/yr for MOTI.
Performance
GBTC vs. MOTI - Performance Comparison
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Returns By Period
In the year-to-date period, GBTC achieves a -27.85% return, which is significantly lower than MOTI's -7.14% return. Over the past 10 years, GBTC has outperformed MOTI with an annualized return of 46.15%, while MOTI has yielded a comparatively lower 6.42% annualized return.
GBTC
- 1D
- 2.71%
- 1M
- -21.45%
- YTD
- -27.85%
- 6M
- -31.30%
- 1Y
- -42.50%
- 3Y*
- 55.49%
- 5Y*
- 9.89%
- 10Y*
- 46.15%
MOTI
- 1D
- 0.50%
- 1M
- -2.01%
- YTD
- -7.14%
- 6M
- -7.41%
- 1Y
- 1.82%
- 3Y*
- 6.02%
- 5Y*
- 1.68%
- 10Y*
- 6.42%
GBTC vs. MOTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | -27.85% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
MOTI VanEck Vectors Morningstar International Moat ETF | -7.14% | 25.01% | 1.94% | 10.18% | -6.93% | 0.03% | 7.24% | 17.63% | -13.92% | 34.27% |
Correlation
The correlation between GBTC and MOTI is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015 | 0.21 |
The correlation between GBTC and MOTI shifts across timeframes, from 0.21 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBTC vs. MOTI — Risk / Return Rank
GBTC
MOTI
GBTC vs. MOTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust ETF (GBTC) and VanEck Vectors Morningstar International Moat ETF (MOTI). 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 | MOTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.03 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 0.12 | -0.93 |
| Martin ratioReturn relative to average drawdown | -1.43 | 0.30 | -1.73 |
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Drawdowns
GBTC vs. MOTI - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, which is greater than MOTI's maximum drawdown of -36.70%. Use the drawdown chart below to compare losses from any high point for GBTC and MOTI.
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Drawdown Indicators
| GBTC | MOTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -36.70% | -53.21% |
Max Drawdown (1Y)Largest decline over 1 year | -52.45% | -15.45% | -37.00% |
Max Drawdown (3Y)Largest decline over 3 years | -52.45% | -16.35% | -36.10% |
Max Drawdown (5Y)Largest decline over 5 years | -85.42% | -31.03% | -54.39% |
Max Drawdown (10Y)Largest decline over 10 years | -89.91% | -36.70% | -53.21% |
Current DrawdownCurrent decline from peak | -49.89% | -12.58% | -37.31% |
Average DrawdownAverage peak-to-trough decline | -43.43% | -9.14% | -34.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.68% | 6.04% | +23.64% |
Volatility
GBTC vs. MOTI - Volatility Comparison
Grayscale Bitcoin Trust ETF (GBTC) has a higher volatility of 11.92% compared to VanEck Vectors Morningstar International Moat ETF (MOTI) at 3.50%. This indicates that GBTC's price experiences larger fluctuations and is considered to be riskier than MOTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBTC | MOTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.92% | 3.50% | +8.42% |
Volatility (6M)Calculated over the trailing 6-month period | 34.41% | 11.14% | +23.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.01% | 14.41% | +29.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.27% | 17.55% | +44.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.18% | 18.05% | +64.13% |
GBTC vs. MOTI - Expense Ratio Comparison
GBTC has a 1.50% expense ratio, which is higher than MOTI's 0.57% expense ratio.
Dividends
GBTC vs. MOTI - Dividend Comparison
GBTC has not paid dividends to shareholders, while MOTI's dividend yield for the trailing twelve months is around 3.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MOTI VanEck Vectors Morningstar International Moat ETF | 3.47% | 3.22% | 4.79% | 2.34% | 3.27% | 4.67% | 2.14% | 3.90% | 3.73% | 8.87% | 1.33% | 0.84% |
Frequently Asked Questions
GBTC and MOTI have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (11.92%) compared to MOTI (3.50%). In terms of maximum drawdown, GBTC dropped -89.91% vs MOTI's -36.70%.
On 10-year performance, GBTC leads with 46.15% vs 6.42% for MOTI. On fees, MOTI is cheaper at 0.57% per year. On volatility, MOTI has been the lower-risk option at 3.50%. 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 46.15% return vs 6.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MOTI is cheaper with a 0.57% expense ratio, compared with 1.50% for GBTC.
MOTI has the higher dividend yield at 3.47%, compared with 0.00% for GBTC.
GBTC is categorized as Cryptocurrency, while MOTI is Foreign Large Cap Equities. GBTC tracks CoinDesk Bitcoin Benchmark Rate Index, while MOTI tracks Morningstar Global ex-US Moat Focus Index. They also come from different issuers: Grayscale and VanEck. Their fees differ too: 1.50% for GBTC and 0.57% for MOTI.
MOTI currently has the higher Sharpe Ratio (0.13 vs -0.97), 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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