IBIT vs. AVES
IBIT (iShares Bitcoin Trust ETF) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while AVES is a Emerging Markets Equities fund actively managed by Avantis. IBIT is passively managed, while AVES is actively managed. Over the past year, IBIT returned -39.67% vs 31.51% for AVES. At a 0.33 correlation, their price movements are largely independent. IBIT charges 0.25%/yr vs 0.36%/yr for AVES.
Performance
IBIT vs. AVES - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly lower than AVES's 15.51% return.
IBIT
- 1D
- -0.03%
- 1M
- -21.94%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AVES
- 1D
- 0.32%
- 1M
- 0.12%
- YTD
- 15.51%
- 6M
- 18.20%
- 1Y
- 31.51%
- 3Y*
- 19.19%
- 5Y*
- —
- 10Y*
- —
IBIT vs. AVES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
AVES Avantis Emerging Markets Value ETF | 15.51% | 30.49% | 7.75% |
Correlation
The correlation between IBIT and AVES is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.33 |
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Return for Risk
IBIT vs. AVES — Risk / Return Rank
IBIT
AVES
IBIT vs. AVES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Avantis Emerging Markets Value ETF (AVES). 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.
| IBIT | AVES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.56 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.31 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.32 | -3.11 |
| Martin ratioReturn relative to average drawdown | -1.37 | 8.40 | -9.77 |
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Drawdowns
IBIT vs. AVES - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for IBIT and AVES.
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Drawdown Indicators
| IBIT | AVES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -27.40% | -24.71% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -12.90% | -39.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.50% | — |
Current DrawdownCurrent decline from peak | -49.45% | -2.45% | -47.00% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -7.70% | -8.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 3.56% | +26.08% |
Volatility
IBIT vs. AVES - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.07% compared to Avantis Emerging Markets Value ETF (AVES) at 8.89%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | AVES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 8.89% | +3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 15.88% | +18.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 18.34% | +25.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 17.20% | +33.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 17.20% | +33.06% |
IBIT vs. AVES - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is lower than AVES's 0.36% expense ratio.
Dividends
IBIT vs. AVES - Dividend Comparison
IBIT has not paid dividends to shareholders, while AVES's dividend yield for the trailing twelve months is around 3.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 3.53% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBIT and AVES have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to AVES (8.89%). In terms of maximum drawdown, IBIT dropped -52.11% vs AVES's -27.40%.
On 1-year performance, AVES leads with 31.51% vs -39.67% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, AVES has been the lower-risk option at 8.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AVES has performed better with a 31.51% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.36% for AVES.
AVES has the higher dividend yield at 3.53%, compared with 0.00% for IBIT.
IBIT is categorized as Cryptocurrency, while AVES is Emerging Markets Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.25% for IBIT and 0.36% for AVES.
AVES currently has the higher Sharpe Ratio (1.64 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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