HBIX.NEO vs. IBIT
HBIX.NEO (Harvest Bitcoin Enhanced Income ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - HBIX.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. HBIX.NEO is actively managed, while IBIT is passively managed. Over the past year, HBIX.NEO returned -43.20% vs -38.58% for IBIT. Their correlation of 0.93 suggests significant overlap in exposure. HBIX.NEO charges 0.65%/yr vs 0.25%/yr for IBIT.
Performance
HBIX.NEO vs. IBIT - Performance Comparison
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Different Trading Currencies
HBIX.NEO is traded in CAD, while IBIT is traded in USD. To make them comparable, the IBIT values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HBIX.NEO achieves a -31.13% return, which is significantly lower than IBIT's -26.45% return.
HBIX.NEO
- 1D
- -3.20%
- 1M
- -23.49%
- YTD
- -31.13%
- 6M
- -35.51%
- 1Y
- -43.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -2.55%
- 1M
- -20.51%
- YTD
- -26.45%
- 6M
- -31.64%
- 1Y
- -38.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBIX.NEO vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBIX.NEO Harvest Bitcoin Enhanced Income ETF | -31.13% | -6.82% |
IBIT iShares Bitcoin Trust ETF | -26.45% | -7.72% |
Correlation
The correlation between HBIX.NEO and IBIT is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.93 |
The correlation between HBIX.NEO and IBIT has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
HBIX.NEO vs. IBIT — Risk / Return Rank
HBIX.NEO
IBIT
HBIX.NEO vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) 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.
| HBIX.NEO | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.86 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.77 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.32 | -0.04 |
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
| HBIX.NEO | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | -0.90 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.66 | 0.31 | -0.97 |
Drawdowns
HBIX.NEO vs. IBIT - Drawdown Comparison
The maximum HBIX.NEO drawdown since its inception was -55.90%, which is greater than IBIT's maximum drawdown of -50.21%. Use the drawdown chart below to compare losses from any high point for HBIX.NEO and IBIT.
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Drawdown Indicators
| HBIX.NEO | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.90% | -50.21% | -5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -55.90% | -50.21% | -5.69% |
Current DrawdownCurrent decline from peak | -54.39% | -49.59% | -4.80% |
Average DrawdownAverage peak-to-trough decline | -23.86% | -16.00% | -7.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.75% | 29.15% | +2.60% |
Volatility
HBIX.NEO vs. IBIT - Volatility Comparison
Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) has a higher volatility of 11.19% compared to iShares Bitcoin Trust ETF (IBIT) at 9.08%. This indicates that HBIX.NEO's price experiences larger fluctuations and is considered to be riskier 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
| HBIX.NEO | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.19% | 9.08% | +2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 40.86% | 33.66% | +7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.68% | 43.10% | +8.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.94% | 49.54% | +1.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.94% | 49.54% | +1.40% |
HBIX.NEO vs. IBIT - Expense Ratio Comparison
HBIX.NEO has a 0.65% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
HBIX.NEO vs. IBIT - Dividend Comparison
HBIX.NEO's dividend yield for the trailing twelve months is around 45.99%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
HBIX.NEO Harvest Bitcoin Enhanced Income ETF | 45.99% | 20.21% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, HBIX.NEO and IBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IBIT is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.65% for HBIX.NEO.
HBIX.NEO is categorized as Leveraged Cryptocurrency, while IBIT is Cryptocurrency. They also come from different issuers: Harvest and iShares. Their fees differ too: 0.65% for HBIX.NEO and 0.25% for IBIT.
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