GNMA vs. IBIT
GNMA (iShares GNMA Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - GNMA is a Mortgage Backed Securities fund tracking the Barclays Capital GNMA Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, GNMA returned 6.56% vs -38.74% for IBIT. At a 0.05 correlation, their price movements are largely independent. GNMA charges 0.15%/yr vs 0.25%/yr for IBIT.
Performance
GNMA vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, GNMA achieves a 0.56% return, which is significantly higher than IBIT's -25.48% return.
GNMA
- 1D
- -0.19%
- 1M
- -0.07%
- YTD
- 0.56%
- 6M
- 0.81%
- 1Y
- 6.56%
- 3Y*
- 4.20%
- 5Y*
- 0.53%
- 10Y*
- 1.23%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GNMA vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GNMA iShares GNMA Bond ETF | 0.56% | 8.25% | 1.64% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between GNMA and IBIT is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.05 |
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Return for Risk
GNMA vs. IBIT — Risk / Return Rank
GNMA
IBIT
GNMA vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GNMA Bond ETF (GNMA) and iShares Bitcoin Trust ETF (IBIT). 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.
| GNMA | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.42 | ||
| Sortino ratioReturn per unit of downside risk | +3.58 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.86 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | -0.79 | +3.31 |
| Martin ratioReturn relative to average drawdown | 8.05 | -1.36 | +9.42 |
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
| GNMA | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | -0.89 | +2.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.30 | -0.05 |
Drawdowns
GNMA vs. IBIT - Drawdown Comparison
The maximum GNMA drawdown since its inception was -17.09%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for GNMA and IBIT.
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Drawdown Indicators
| GNMA | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -49.36% | +32.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -49.36% | +46.75% |
Max Drawdown (3Y)Largest decline over 3 years | -7.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.09% | — | — |
Current DrawdownCurrent decline from peak | -1.41% | -48.10% | +46.69% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -16.02% | +12.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 28.44% | -27.62% |
Volatility
GNMA vs. IBIT - Volatility Comparison
The current volatility for iShares GNMA Bond ETF (GNMA) is 1.54%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that GNMA experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GNMA | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 9.50% | -7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 34.44% | -31.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 43.73% | -39.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 50.19% | -43.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 50.19% | -45.06% |
GNMA vs. IBIT - Expense Ratio Comparison
GNMA has a 0.15% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GNMA vs. IBIT - Dividend Comparison
GNMA's dividend yield for the trailing twelve months is around 4.24%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GNMA iShares GNMA Bond ETF | 4.24% | 4.19% | 4.15% | 3.43% | 2.01% | 0.64% | 1.89% | 2.61% | 2.41% | 2.15% | 1.89% | 1.50% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GNMA and IBIT have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to GNMA (1.54%). In terms of maximum drawdown, GNMA dropped -17.09% vs IBIT's -49.36%.
On 1-year performance, GNMA leads with 6.56% vs -38.74% for IBIT. On fees, GNMA is cheaper at 0.15% per year. On volatility, GNMA has been the lower-risk option at 1.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GNMA has performed better with a 6.56% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GNMA is cheaper with a 0.15% expense ratio, compared with 0.25% for IBIT.
GNMA has the higher dividend yield at 4.24%, compared with 0.00% for IBIT.
GNMA is categorized as Mortgage Backed Securities, while IBIT is Cryptocurrency. GNMA tracks Barclays Capital GNMA Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.15% for GNMA and 0.25% for IBIT.
GNMA currently has the higher Sharpe Ratio (1.53 vs -0.89), 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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