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 -43.08% vs 77.07% for BTCZ. Their -1.00 correlation means they have often moved in opposite directions in the past. 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 -26.00% return, which is significantly lower than BTCZ's 26.37% return.
IBIT
- 1D
- 0.96%
- 1M
- 1.72%
- 6M
- -11.62%
- YTD
- -26.00%
- 1Y
- -43.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.26%
BTCZ
- 1D
- -2.56%
- 1M
- -5.17%
- 6M
- -5.67%
- YTD
- 26.37%
- 1Y
- 77.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -52.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $81.92M | $102.22M | $120.66M | |
| $1.32B | $1.30B | $1.64B |
IBIT vs. BTCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -26.00% | -6.41% | 60.95% |
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF | 26.37% | -29.11% | -76.45% |
Correlation
The correlation between IBIT and BTCZ is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 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.
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 | BTCZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.04 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.19 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 1.58 | -2.39 |
| Martin ratioReturn relative to average drawdown | -1.23 | 3.41 | -4.64 |
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Drawdowns
IBIT vs. BTCZ - Drawdown Comparison
The maximum IBIT drawdown since its inception was -53.30%, 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 | -53.30% | -91.06% | +37.76% |
Max Drawdown (1Y)Largest decline over 1 year | -53.30% | -49.02% | -4.28% |
Current DrawdownCurrent decline from peak | -48.46% | -79.62% | +31.16% |
Average DrawdownAverage peak-to-trough decline | -18.39% | -73.94% | +55.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.07% | 22.68% | +12.39% |
Volatility
IBIT vs. BTCZ - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 8.34%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 16.44%. 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 | 8.34% | 16.44% | -8.10% |
Volatility (6M)Calculated over the trailing 6-month period | 33.03% | 66.00% | -32.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.38% | 88.92% | -44.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.50% | 95.41% | -45.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.50% | 95.41% | -45.91% |
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 (16.44%) compared to IBIT (8.34%). In terms of maximum drawdown, IBIT dropped -53.30% vs BTCZ's -91.06%.
On 1-year performance, BTCZ leads with 77.07% vs -43.08% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 8.34%. 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 77.07% return vs -43.08%. 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 (0.87 vs -0.97), 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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