GSY vs. BTC-USD
GSY (Invesco Ultra Short Duration ETF) is Ultrashort Bond fund actively managed by Invesco, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, GSY returned 2.86%/yr vs 57.23%/yr for BTC-USD. At a 0.02 correlation, their price movements are largely independent.
Performance
GSY vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, GSY achieves a 1.72% return, which is significantly higher than BTC-USD's -26.27% return. Over the past 10 years, GSY has underperformed BTC-USD with an annualized return of 2.86%, while BTC-USD has yielded a comparatively higher 57.23% annualized return.
GSY
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.72%
- 6M
- 1.96%
- 1Y
- 4.49%
- 3Y*
- 5.48%
- 5Y*
- 3.68%
- 10Y*
- 2.86%
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
GSY vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 1.72% | 4.96% | 5.95% | 5.99% | 0.01% | 0.03% | 1.88% | 3.39% | 2.18% | 1.86% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between GSY and BTC-USD is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2012 | 0.02 |
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Return for Risk
GSY vs. BTC-USD — Risk / Return Rank
GSY
BTC-USD
GSY vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Ultra Short Duration ETF (GSY) and Bitcoin (BTC-USD). 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.
| GSY | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +12.12 | ||
| Sortino ratioReturn per unit of downside risk | +28.62 | ||
| Omega ratioGain probability vs. loss probability | 6.54 | 0.87 | +5.67 |
| Calmar ratioReturn relative to maximum drawdown | 75.72 | -0.77 | +76.48 |
| Martin ratioReturn relative to average drawdown | 373.96 | -1.33 | +375.29 |
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Drawdowns
GSY vs. BTC-USD - Drawdown Comparison
The maximum GSY drawdown since its inception was -12.14%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for GSY and BTC-USD.
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Drawdown Indicators
| GSY | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.14% | -85.30% | +73.16% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -51.21% | +51.15% |
Max Drawdown (3Y)Largest decline over 3 years | -0.18% | -51.21% | +51.03% |
Max Drawdown (5Y)Largest decline over 5 years | -1.48% | -76.67% | +75.19% |
Max Drawdown (10Y)Largest decline over 10 years | -5.25% | -83.80% | +78.55% |
Current DrawdownCurrent decline from peak | 0.00% | -48.27% | +48.27% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -42.36% | +39.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 35.16% | -35.15% |
Volatility
GSY vs. BTC-USD - Volatility Comparison
The current volatility for Invesco Ultra Short Duration ETF (GSY) is 0.15%, while Bitcoin (BTC-USD) has a volatility of 11.97%. This indicates that GSY experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSY | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 11.97% | -11.82% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 34.64% | -34.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.40% | 35.59% | -35.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 44.57% | -43.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.22% | 56.61% | -55.39% |
Frequently Asked Questions
GSY and BTC-USD have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.97%) compared to GSY (0.15%). In terms of maximum drawdown, GSY dropped -12.14% vs BTC-USD's -85.30%.
GSY currently has the higher Sharpe Ratio (11.20 vs -0.92), 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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