GVI vs. IBIT
GVI (iShares Intermediate Government/Credit Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - GVI is a Short-Term Bond fund tracking the Bloomberg U.S. Intermediate Government/Credit Bond, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, GVI returned 3.57% vs -39.60% for IBIT. At a 0.02 correlation, their price movements are largely independent. GVI charges 0.20%/yr vs 0.25%/yr for IBIT.
Performance
GVI vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, GVI achieves a 0.09% return, which is significantly higher than IBIT's -27.45% return.
GVI
- 1D
- 0.09%
- 1M
- 0.02%
- YTD
- 0.09%
- 6M
- 0.31%
- 1Y
- 3.57%
- 3Y*
- 4.23%
- 5Y*
- 1.00%
- 10Y*
- 1.81%
IBIT
- 1D
- -2.65%
- 1M
- -22.17%
- YTD
- -27.45%
- 6M
- -31.40%
- 1Y
- -39.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GVI vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GVI iShares Intermediate Government/Credit Bond ETF | 0.09% | 6.66% | 2.98% |
IBIT iShares Bitcoin Trust ETF | -27.45% | -6.41% | 99.21% |
Correlation
The correlation between GVI and IBIT 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 Jan 12, 2024 | 0.02 |
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Return for Risk
GVI vs. IBIT — Risk / Return Rank
GVI
IBIT
GVI vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Intermediate Government/Credit Bond ETF (GVI) 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.
| GVI | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.36 | ||
| Sortino ratioReturn per unit of downside risk | +3.47 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.86 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | -0.80 | +2.80 |
| Martin ratioReturn relative to average drawdown | 6.04 | -1.39 | +7.43 |
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
| GVI | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | -0.91 | +2.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.27 | +0.49 |
Drawdowns
GVI vs. IBIT - Drawdown Comparison
The maximum GVI drawdown since its inception was -12.93%, smaller than the maximum IBIT drawdown of -49.47%. Use the drawdown chart below to compare losses from any high point for GVI and IBIT.
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Drawdown Indicators
| GVI | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.93% | -49.47% | +36.54% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -49.47% | +47.68% |
Max Drawdown (3Y)Largest decline over 3 years | -2.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.93% | — | — |
Current DrawdownCurrent decline from peak | -1.08% | -49.47% | +48.39% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -16.07% | +14.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 28.61% | -28.02% |
Volatility
GVI vs. IBIT - Volatility Comparison
The current volatility for iShares Intermediate Government/Credit Bond ETF (GVI) is 0.78%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.14%. This indicates that GVI 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
| GVI | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 9.14% | -8.36% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 33.89% | -32.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 43.76% | -41.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.97% | 50.18% | -46.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.53% | 50.18% | -46.65% |
GVI vs. IBIT - Expense Ratio Comparison
GVI has a 0.20% 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
GVI vs. IBIT - Dividend Comparison
GVI's dividend yield for the trailing twelve months is around 3.62%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GVI iShares Intermediate Government/Credit Bond ETF | 3.62% | 3.48% | 3.40% | 2.75% | 1.86% | 1.46% | 1.84% | 2.29% | 2.16% | 1.91% | 1.77% | 1.75% |
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
GVI and IBIT 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.
IBIT has higher volatility (9.14%) compared to GVI (0.78%). In terms of maximum drawdown, GVI dropped -12.93% vs IBIT's -49.47%.
On 1-year performance, GVI leads with 3.57% vs -39.60% for IBIT. On fees, GVI is cheaper at 0.20% per year. On volatility, GVI has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GVI has performed better with a 3.57% return vs -39.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GVI is cheaper with a 0.20% expense ratio, compared with 0.25% for IBIT.
GVI has the higher dividend yield at 3.62%, compared with 0.00% for IBIT.
GVI is categorized as Short-Term Bond, while IBIT is Cryptocurrency. GVI tracks Bloomberg U.S. Intermediate Government/Credit Bond, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.20% for GVI and 0.25% for IBIT.
GVI currently has the higher Sharpe Ratio (1.45 vs -0.91), 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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