GBTC vs. SPY
Compare and contrast key facts about Grayscale Bitcoin Trust (BTC) (GBTC) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GBTC or SPY.
Correlation
The correlation between GBTC and SPY is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
GBTC vs. SPY - Performance Comparison
Key characteristics
GBTC:
2.21
SPY:
2.49
GBTC:
2.72
SPY:
3.35
GBTC:
1.33
SPY:
1.46
GBTC:
3.18
SPY:
3.59
GBTC:
8.22
SPY:
16.13
GBTC:
15.45%
SPY:
1.87%
GBTC:
57.48%
SPY:
12.09%
GBTC:
-89.91%
SPY:
-55.19%
GBTC:
0.00%
SPY:
-0.59%
Returns By Period
In the year-to-date period, GBTC achieves a 133.30% return, which is significantly higher than SPY's 28.32% return.
GBTC
133.30%
10.93%
38.83%
136.86%
58.99%
N/A
SPY
28.32%
3.15%
12.02%
29.95%
15.41%
13.34%
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Risk-Adjusted Performance
GBTC vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust (BTC) (GBTC) and SPDR S&P 500 ETF (SPY). 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.
Dividends
GBTC vs. SPY - Dividend Comparison
GBTC has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.84%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 0.84% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
GBTC vs. SPY - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GBTC and SPY. For additional features, visit the drawdowns tool.
Volatility
GBTC vs. SPY - Volatility Comparison
Grayscale Bitcoin Trust (BTC) (GBTC) has a higher volatility of 14.61% compared to SPDR S&P 500 ETF (SPY) at 2.35%. This indicates that GBTC's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.