IBIT vs. FCX
IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while FCX (Freeport-McMoRan Inc.) is a stock. Over the past year, IBIT returned -40.63% vs 68.06% for FCX. At a 0.24 correlation, their price movements are largely independent.
Performance
IBIT vs. FCX - 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 FCX's 35.32% return.
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FCX
- 1D
- 3.12%
- 1M
- 1.86%
- YTD
- 35.32%
- 6M
- 45.06%
- 1Y
- 68.06%
- 3Y*
- 21.38%
- 5Y*
- 12.26%
- 10Y*
- 22.12%
IBIT vs. FCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
FCX Freeport-McMoRan Inc. | 35.32% | 35.41% | -6.63% |
Correlation
The correlation between IBIT and FCX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.24 |
The correlation between IBIT and FCX shifts across timeframes, from 0.24 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBIT vs. FCX — Risk / Return Rank
IBIT
FCX
IBIT vs. FCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Freeport-McMoRan Inc. (FCX). 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 | FCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.09 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.25 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.75 | -3.53 |
| Martin ratioReturn relative to average drawdown | -1.37 | 6.85 | -8.22 |
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Drawdowns
IBIT vs. FCX - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum FCX drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for IBIT and FCX.
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Drawdown Indicators
| IBIT | FCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -92.52% | +40.41% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -24.90% | -27.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -46.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -51.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -72.59% | — |
Current DrawdownCurrent decline from peak | -49.45% | -4.62% | -44.83% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -39.62% | +23.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 9.97% | +19.67% |
Volatility
IBIT vs. FCX - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 12.07%, while Freeport-McMoRan Inc. (FCX) has a volatility of 17.98%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than FCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | FCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 17.98% | -5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 37.53% | -3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 48.88% | -4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 45.14% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 48.65% | +1.61% |
Dividends
IBIT vs. FCX - Dividend Comparison
IBIT has not paid dividends to shareholders, while FCX's dividend yield for the trailing twelve months is around 0.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCX Freeport-McMoRan Inc. | 0.88% | 1.18% | 1.58% | 1.41% | 0.99% | 0.54% | 0.19% | 1.52% | 1.45% | 0.00% | 0.00% | 8.46% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBIT and FCX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCX has higher volatility (17.98%) compared to IBIT (12.07%). In terms of maximum drawdown, IBIT dropped -52.11% vs FCX's -92.52%.
FCX currently has the higher Sharpe Ratio (1.40 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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