IBIT vs. BTC-USD
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, IBIT returned -40.63% vs -39.85% for BTC-USD. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
IBIT vs. BTC-USD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IBIT having a -27.41% return and BTC-USD slightly higher at -27.32%.
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 0.05%
- 1M
- -19.79%
- YTD
- -27.32%
- 6M
- -29.56%
- 1Y
- -39.85%
- 3Y*
- 34.86%
- 5Y*
- 10.27%
- 10Y*
- 57.32%
IBIT vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
BTC-USD Bitcoin | -27.32% | -6.27% | 100.05% |
Correlation
The correlation between IBIT and BTC-USD is 0.71, 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 | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.71 |
The correlation between IBIT and BTC-USD has been stable across timeframes, ranging from 0.71 to 0.71 - a consistent structural relationship.
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Return for Risk
IBIT vs. BTC-USD — Risk / Return Rank
IBIT
BTC-USD
IBIT vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.
| IBIT | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.87 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.78 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.36 | -0.01 |
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Drawdowns
IBIT vs. BTC-USD - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for IBIT and BTC-USD.
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Drawdown Indicators
| IBIT | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -85.30% | +33.19% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -51.21% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.21% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -49.45% | -49.01% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -42.35% | +25.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 35.02% | -5.38% |
Volatility
IBIT vs. BTC-USD - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) and Bitcoin (BTC-USD) have volatilities of 12.07% and 12.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 12.11% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 34.59% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 35.62% | +8.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 44.71% | +5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 56.62% | -6.36% |
Frequently Asked Questions
IBIT and BTC-USD have a correlation of 0.71, 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 (12.11%) compared to IBIT (12.07%). In terms of maximum drawdown, IBIT dropped -52.11% vs BTC-USD's -85.30%.
IBIT currently has the higher Sharpe Ratio (-0.92 vs -0.93), 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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