IBIT vs. BTCZ
IBIT (iShares Bitcoin Trust ETF) and BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) are both Cryptocurrency funds. IBIT is passively managed, while BTCZ is actively managed. Over the past year, IBIT returned -39.60% vs 60.52% for BTCZ. At a correlation of -1.00, they often move in opposite directions. IBIT charges 0.25%/yr vs 0.95%/yr for BTCZ.
Performance
IBIT vs. BTCZ - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.45% return, which is significantly lower than BTCZ's 39.90% return.
IBIT
- 1D
- -2.65%
- 1M
- -22.17%
- YTD
- -27.45%
- 6M
- -31.40%
- 1Y
- -39.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCZ
- 1D
- 5.56%
- 1M
- 60.49%
- YTD
- 39.90%
- 6M
- 53.41%
- 1Y
- 60.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT vs. BTCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.45% | -6.41% | 62.38% |
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF | 39.90% | -29.11% | -76.58% |
Correlation
The correlation between IBIT and BTCZ is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | -1.00 |
The correlation between IBIT and BTCZ has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
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Return for Risk
IBIT vs. BTCZ — Risk / Return Rank
IBIT
BTCZ
IBIT vs. BTCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). 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.
| IBIT | BTCZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.17 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 1.24 | -2.04 |
| Martin ratioReturn relative to average drawdown | -1.39 | 2.36 | -3.74 |
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
| IBIT | BTCZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.91 | 0.69 | -1.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | -0.55 | +0.82 |
Drawdowns
IBIT vs. BTCZ - Drawdown Comparison
The maximum IBIT drawdown since its inception was -49.47%, smaller than the maximum BTCZ drawdown of -91.06%. Use the drawdown chart below to compare losses from any high point for IBIT and BTCZ.
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Drawdown Indicators
| IBIT | BTCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.47% | -91.06% | +41.59% |
Max Drawdown (1Y)Largest decline over 1 year | -49.47% | -49.02% | -0.45% |
Current DrawdownCurrent decline from peak | -49.47% | -77.44% | +27.97% |
Average DrawdownAverage peak-to-trough decline | -16.07% | -73.73% | +57.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.61% | 25.76% | +2.85% |
Volatility
IBIT vs. BTCZ - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 9.14%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 17.24%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than BTCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | BTCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.14% | 17.24% | -8.10% |
Volatility (6M)Calculated over the trailing 6-month period | 33.89% | 67.20% | -33.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.76% | 87.54% | -43.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.18% | 97.10% | -46.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.18% | 97.10% | -46.92% |
IBIT vs. BTCZ - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is lower than BTCZ's 0.95% expense ratio.
Dividends
IBIT vs. BTCZ - Dividend Comparison
IBIT has not paid dividends to shareholders, while BTCZ's dividend yield for the trailing twelve months is around 0.01%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF | 0.01% | 0.02% | 0.08% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBIT and BTCZ have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTCZ has higher volatility (17.24%) compared to IBIT (9.14%). In terms of maximum drawdown, IBIT dropped -49.47% vs BTCZ's -91.06%.
On 1-year performance, BTCZ leads with 60.52% vs -39.60% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 9.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTCZ has performed better with a 60.52% return vs -39.60%. 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 0.95% for BTCZ.
BTCZ has the higher dividend yield at 0.01%, compared with 0.00% for IBIT.
They also come from different issuers: iShares and T-Rex. Their fees differ too: 0.25% for IBIT and 0.95% for BTCZ.
BTCZ currently has the higher Sharpe Ratio (0.69 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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