GRN vs. BIT
GRN (iPath Series B Carbon ETN) is Commodities fund tracking the Barclays Global Carbon II Index, while BIT (BlackRock Multi-Sector Income Trust) is a stock. Over the past 5 years, GRN returned 9.08%/yr vs 2.50%/yr for BIT. At a 0.08 correlation, their price movements are largely independent.
Performance
GRN vs. BIT - Performance Comparison
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Returns By Period
In the year-to-date period, GRN achieves a -10.45% return, which is significantly lower than BIT's 1.70% return.
GRN
- 1D
- -2.02%
- 1M
- 2.13%
- YTD
- -10.45%
- 6M
- -7.22%
- 1Y
- 7.07%
- 3Y*
- -1.57%
- 5Y*
- 9.08%
- 10Y*
- —
BIT
- 1D
- 0.72%
- 1M
- 0.20%
- YTD
- 1.70%
- 6M
- 1.27%
- 1Y
- 1.40%
- 3Y*
- 7.03%
- 5Y*
- 2.50%
- 10Y*
- 7.29%
GRN vs. BIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GRN iPath Series B Carbon ETN | -10.45% | 20.33% | -7.34% | -2.99% | -0.07% | 147.21% | 30.47% | -8.41% |
BIT BlackRock Multi-Sector Income Trust | 1.70% | 2.31% | 7.43% | 16.78% | -14.41% | 12.04% | 19.67% | -3.14% |
Correlation
The correlation between GRN and BIT is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2019 | 0.08 |
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Return for Risk
GRN vs. BIT — Risk / Return Rank
GRN
BIT
GRN vs. BIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Series B Carbon ETN (GRN) and BlackRock Multi-Sector Income Trust (BIT). 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.
| GRN | BIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.04 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 0.16 | +0.08 |
| Martin ratioReturn relative to average drawdown | 0.60 | 0.30 | +0.30 |
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
| GRN | BIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.18 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.21 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.41 | -0.01 |
Drawdowns
GRN vs. BIT - Drawdown Comparison
The maximum GRN drawdown since its inception was -47.96%, which is greater than BIT's maximum drawdown of -43.54%. Use the drawdown chart below to compare losses from any high point for GRN and BIT.
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Drawdown Indicators
| GRN | BIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.96% | -43.54% | -4.42% |
Max Drawdown (1Y)Largest decline over 1 year | -30.39% | -8.99% | -21.40% |
Max Drawdown (3Y)Largest decline over 3 years | -45.30% | -10.42% | -34.88% |
Max Drawdown (5Y)Largest decline over 5 years | -47.96% | -23.72% | -24.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.54% | — |
Current DrawdownCurrent decline from peak | -21.35% | -3.93% | -17.42% |
Average DrawdownAverage peak-to-trough decline | -17.54% | -4.87% | -12.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.87% | 4.70% | +7.17% |
Volatility
GRN vs. BIT - Volatility Comparison
iPath Series B Carbon ETN (GRN) has a higher volatility of 5.88% compared to BlackRock Multi-Sector Income Trust (BIT) at 2.69%. This indicates that GRN's price experiences larger fluctuations and is considered to be riskier than BIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRN | BIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 2.69% | +3.19% |
Volatility (6M)Calculated over the trailing 6-month period | 24.53% | 5.84% | +18.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.73% | 8.02% | +19.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.83% | 12.03% | +27.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.94% | 15.99% | +25.95% |
Dividends
GRN vs. BIT - Dividend Comparison
GRN has not paid dividends to shareholders, while BIT's dividend yield for the trailing twelve months is around 11.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIT BlackRock Multi-Sector Income Trust | 11.64% | 11.15% | 10.17% | 9.90% | 9.58% | 8.18% | 8.46% | 8.84% | 9.12% | 8.44% | 11.65% | 8.66% |
GRN iPath Series B Carbon ETN | 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
GRN and BIT have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRN has higher volatility (5.88%) compared to BIT (2.69%). In terms of maximum drawdown, GRN dropped -47.96% vs BIT's -43.54%.
GRN currently has the higher Sharpe Ratio (0.26 vs 0.18), 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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