GBTC vs. RBIL
GBTC (Grayscale Bitcoin Trust ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. Both are passively managed. Over the past year, GBTC returned -46.99% vs 4.04% for RBIL. At a correlation of -0.08, they often move in opposite directions. GBTC charges 1.50%/yr vs 0.17%/yr for RBIL.
Performance
GBTC vs. RBIL - Performance Comparison
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Returns By Period
In the year-to-date period, GBTC achieves a -27.18% return, which is significantly lower than RBIL's 2.59% return.
GBTC
- 1D
- -1.11%
- 1M
- -2.22%
- 6M
- -33.03%
- YTD
- -27.18%
- 1Y
- -46.99%
- 3Y*
- 35.70%
- 5Y*
- 13.70%
- 10Y*
- 45.97%
RBIL
- 1D
- 0.05%
- 1M
- 0.14%
- 6M
- 2.44%
- YTD
- 2.59%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBTC vs. RBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | -27.18% | -8.04% |
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF | 2.59% | 2.85% |
Correlation
The correlation between GBTC and RBIL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025 | -0.08 |
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Return for Risk
GBTC vs. RBIL — Risk / Return Rank
GBTC
RBIL
GBTC vs. RBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust ETF (GBTC) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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 | RBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.34 | ||
| Sortino ratioReturn per unit of downside risk | -8.19 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 2.10 | -1.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 7.22 | -8.09 |
| Martin ratioReturn relative to average drawdown | -1.41 | 30.11 | -31.52 |
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Drawdowns
GBTC vs. RBIL - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, which is greater than RBIL's maximum drawdown of -0.56%. Use the drawdown chart below to compare losses from any high point for GBTC and RBIL.
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Drawdown Indicators
| GBTC | RBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -0.56% | -89.35% |
Max Drawdown (1Y)Largest decline over 1 year | -53.75% | -0.56% | -53.19% |
Max Drawdown (3Y)Largest decline over 3 years | -53.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -85.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.91% | — | — |
Current DrawdownCurrent decline from peak | -49.43% | -0.24% | -49.19% |
Average DrawdownAverage peak-to-trough decline | -43.49% | -0.08% | -43.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.38% | 0.13% | +33.25% |
Volatility
GBTC vs. RBIL - Volatility Comparison
Grayscale Bitcoin Trust ETF (GBTC) has a higher volatility of 10.75% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.31%. This indicates that GBTC's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBTC | RBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.75% | 0.31% | +10.44% |
Volatility (6M)Calculated over the trailing 6-month period | 34.74% | 0.88% | +33.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.29% | 0.95% | +43.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.83% | 1.06% | +60.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.43% | 1.06% | +80.37% |
GBTC vs. RBIL - Expense Ratio Comparison
GBTC has a 1.50% expense ratio, which is higher than RBIL's 0.17% expense ratio.
Dividends
GBTC vs. RBIL - Dividend Comparison
GBTC has not paid dividends to shareholders, while RBIL's dividend yield for the trailing twelve months is around 4.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF | 4.58% | 3.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBTC and RBIL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (10.75%) compared to RBIL (0.31%). In terms of maximum drawdown, GBTC dropped -89.91% vs RBIL's -0.56%.
On 1-year performance, RBIL leads with 4.04% vs -46.99% for GBTC. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RBIL has performed better with a 4.04% return vs -46.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RBIL is cheaper with a 0.17% expense ratio, compared with 1.50% for GBTC.
RBIL has the higher dividend yield at 4.58%, compared with 0.00% for GBTC.
GBTC is categorized as Cryptocurrency, while RBIL is Inflation-Protected Bonds. GBTC tracks CoinDesk Bitcoin Benchmark Rate Index, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: Grayscale and F/m. Their fees differ too: 1.50% for GBTC and 0.17% for RBIL.
RBIL currently has the higher Sharpe Ratio (4.27 vs -1.07), 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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