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IBIT vs. GBTC
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between IBIT and GBTC is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.0
Correlation: 1.0

Performance

IBIT vs. GBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (BTC) (GBTC). The values are adjusted to include any dividend payments, if applicable.

20.00%40.00%60.00%80.00%100.00%120.00%NovemberDecember2025FebruaryMarchApril
81.37%
65.05%
IBIT
GBTC

Key characteristics

Sharpe Ratio

IBIT:

0.36

GBTC:

0.11

Sortino Ratio

IBIT:

0.90

GBTC:

0.57

Omega Ratio

IBIT:

1.10

GBTC:

1.07

Calmar Ratio

IBIT:

0.70

GBTC:

0.18

Martin Ratio

IBIT:

1.54

GBTC:

0.40

Ulcer Index

IBIT:

12.54%

GBTC:

15.71%

Daily Std Dev

IBIT:

54.32%

GBTC:

55.49%

Max Drawdown

IBIT:

-27.51%

GBTC:

-89.91%

Current Drawdown

IBIT:

-20.47%

GBTC:

-20.72%

Returns By Period

The year-to-date returns for both stocks are quite close, with IBIT having a -8.95% return and GBTC slightly lower at -9.27%.


IBIT

YTD

-8.95%

1M

0.84%

6M

37.49%

1Y

21.51%

5Y*

N/A

10Y*

N/A

GBTC

YTD

-9.27%

1M

0.83%

6M

36.73%

1Y

8.01%

5Y*

54.40%

10Y*

N/A

*Annualized

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Risk-Adjusted Performance

IBIT vs. GBTC — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBIT
The Risk-Adjusted Performance Rank of IBIT is 5252
Overall Rank
The Sharpe Ratio Rank of IBIT is 4040
Sharpe Ratio Rank
The Sortino Ratio Rank of IBIT is 5858
Sortino Ratio Rank
The Omega Ratio Rank of IBIT is 5353
Omega Ratio Rank
The Calmar Ratio Rank of IBIT is 6464
Calmar Ratio Rank
The Martin Ratio Rank of IBIT is 4545
Martin Ratio Rank

GBTC
The Risk-Adjusted Performance Rank of GBTC is 5757
Overall Rank
The Sharpe Ratio Rank of GBTC is 5757
Sharpe Ratio Rank
The Sortino Ratio Rank of GBTC is 5555
Sortino Ratio Rank
The Omega Ratio Rank of GBTC is 5353
Omega Ratio Rank
The Calmar Ratio Rank of GBTC is 6262
Calmar Ratio Rank
The Martin Ratio Rank of GBTC is 5858
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

IBIT vs. GBTC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (BTC) (GBTC). 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.


The chart of Sharpe ratio for IBIT, currently valued at 0.36, compared to the broader market-1.000.001.002.003.004.005.00
IBIT: 0.36
GBTC: 0.11
The chart of Sortino ratio for IBIT, currently valued at 0.90, compared to the broader market-2.000.002.004.006.008.0010.00
IBIT: 0.90
GBTC: 0.57
The chart of Omega ratio for IBIT, currently valued at 1.10, compared to the broader market0.501.001.502.002.503.00
IBIT: 1.10
GBTC: 1.07
The chart of Calmar ratio for IBIT, currently valued at 0.70, compared to the broader market0.005.0010.0015.00
IBIT: 0.70
GBTC: 0.18
The chart of Martin ratio for IBIT, currently valued at 1.54, compared to the broader market0.0020.0040.0060.0080.00100.00
IBIT: 1.54
GBTC: 0.40

The current IBIT Sharpe Ratio is 0.36, which is higher than the GBTC Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of IBIT and GBTC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-0.500.000.501.001.502.002.503.00Jan 19Jan 26Feb 02Feb 09Feb 16Feb 23Mar 02Mar 09Mar 16Mar 23Mar 30
0.36
0.11
IBIT
GBTC

Dividends

IBIT vs. GBTC - Dividend Comparison

Neither IBIT nor GBTC has paid dividends to shareholders.


TTM20242023202220212020201920182017
IBIT
iShares Bitcoin Trust
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GBTC
Grayscale Bitcoin Trust (BTC)
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.23%

Drawdowns

IBIT vs. GBTC - Drawdown Comparison

The maximum IBIT drawdown since its inception was -27.51%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for IBIT and GBTC. For additional features, visit the drawdowns tool.


-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-20.47%
-20.72%
IBIT
GBTC

Volatility

IBIT vs. GBTC - Volatility Comparison

iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (BTC) (GBTC) have volatilities of 16.77% and 16.75%, 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.


8.00%10.00%12.00%14.00%16.00%18.00%20.00%NovemberDecember2025FebruaryMarchApril
16.77%
16.75%
IBIT
GBTC