IBIT vs. BMNR
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while BMNR (BitMine Immersion Technologies, Inc.) is a stock. Over the past year, IBIT returned -43.61% vs 217.29% for BMNR. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
IBIT vs. BMNR - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -31.78% return, which is significantly higher than BMNR's -48.36% return.
IBIT
- 1D
- -4.08%
- 1M
- -21.16%
- YTD
- -31.78%
- 6M
- -31.52%
- 1Y
- -43.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNR
- 1D
- -7.34%
- 1M
- -25.74%
- YTD
- -48.36%
- 6M
- -52.23%
- 1Y
- 217.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT vs. BMNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBIT iShares Bitcoin Trust ETF | -31.78% | -16.75% |
BMNR BitMine Immersion Technologies, Inc. | -48.36% | 274.59% |
Correlation
The correlation between IBIT and BMNR is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.67 |
The correlation between IBIT and BMNR has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.
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Return for Risk
IBIT vs. BMNR — Risk / Return Rank
IBIT
BMNR
IBIT vs. BMNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and BitMine Immersion Technologies, Inc. (BMNR). 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 | BMNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -9.81 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.99 | -1.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 2.44 | -3.27 |
| Martin ratioReturn relative to average drawdown | -1.42 | 2.92 | -4.34 |
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Drawdowns
IBIT vs. BMNR - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.49%, smaller than the maximum BMNR drawdown of -89.61%. Use the drawdown chart below to compare losses from any high point for IBIT and BMNR.
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Drawdown Indicators
| IBIT | BMNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.49% | -89.61% | +37.12% |
Max Drawdown (1Y)Largest decline over 1 year | -52.49% | -89.61% | +37.12% |
Current DrawdownCurrent decline from peak | -52.49% | -89.61% | +37.12% |
Average DrawdownAverage peak-to-trough decline | -16.91% | -71.30% | +54.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.76% | 74.78% | -44.02% |
Volatility
IBIT vs. BMNR - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 13.48%, while BitMine Immersion Technologies, Inc. (BMNR) has a volatility of 22.24%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than BMNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | BMNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.48% | 22.24% | -8.76% |
Volatility (6M)Calculated over the trailing 6-month period | 34.60% | 59.04% | -24.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.48% | 717.39% | -672.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.25% | 701.40% | -651.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.25% | 701.40% | -651.15% |
Dividends
IBIT vs. BMNR - Dividend Comparison
IBIT has not paid dividends to shareholders, while BMNR's dividend yield for the trailing twelve months is around 0.07%.
| Position | TTM | 2025 |
|---|---|---|
BMNR BitMine Immersion Technologies, Inc. | 0.07% | 0.04% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% |
Frequently Asked Questions
IBIT and BMNR have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMNR has higher volatility (22.24%) compared to IBIT (13.48%). In terms of maximum drawdown, IBIT dropped -52.49% vs BMNR's -89.61%.
BMNR currently has the higher Sharpe Ratio (0.30 vs -0.98), 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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