IBIT vs. IBTM.L

Last updated Jun 9, 2026

IBIT (iShares Bitcoin Trust ETF) and IBTM.L (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while IBTM.L is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past year, IBIT returned -39.44% vs 3.94% for IBTM.L. At a 0.02 correlation, their price movements are largely independent. IBIT charges 0.25%/yr vs 0.07%/yr for IBTM.L.

Performance

IBIT vs. IBTM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bitcoin Trust ETF (IBIT) and iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IBIT is traded in USD, while IBTM.L is traded in GBP. To make them comparable, the IBTM.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IBIT achieves a -27.71% return, which is significantly lower than IBTM.L's -1.33% return.

IBIT

• 1D: 5.13%
• 1M: -21.03%
• YTD: -27.71%
• 6M: -30.34%
• 1Y: -39.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBTM.L

• 1D: 0.23%
• 1M: -1.12%
• YTD: -1.33%
• 6M: -0.69%
• 1Y: 3.94%
• 3Y*: 2.61%
• 5Y*: -1.15%
• 10Y*: 0.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBIT vs. IBTM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBIT iShares Bitcoin Trust ETF	-27.71%	-6.41%	99.21%
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)	-1.33%	8.50%	0.14%

Correlation

The correlation between IBIT and IBTM.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.02

Return for Risk

IBIT vs. IBTM.L — Risk / Return Rank

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

IBIT

IBIT Risk / Return Rank: 3
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 3
IBIT Omega Ratio Rank: 3
IBIT Calmar Ratio Rank: 3
IBIT Martin Ratio Rank: 2

IBTM.L

IBTM.L Risk / Return Rank: 24
IBTM.L Sharpe Ratio Rank: 26
IBTM.L Sortino Ratio Rank: 27
IBTM.L Omega Ratio Rank: 24
IBTM.L Calmar Ratio Rank: 23
IBTM.L Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBIT vs. IBTM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L). 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	IBTM.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	0.69	-1.58
Sortino ratio: Return per unit of downside risk	-1.24	1.07	-2.31
Omega ratio: Gain probability vs. loss probability	0.86	1.12	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.76	0.94	-1.70
Martin ratio: Return relative to average drawdown	-1.36	2.78	-4.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBIT vs. IBTM.L - Sharpe Ratio Comparison

The current IBIT Sharpe Ratio is -0.90, which is lower than the IBTM.L Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of IBIT and IBTM.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBIT	IBTM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	0.69	-1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.14	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.02	+0.24

Drawdowns

IBIT vs. IBTM.L - Drawdown Comparison

The maximum IBIT drawdown since its inception was -52.11%, roughly equal to the maximum IBTM.L drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for IBIT and IBTM.L.

Drawdown Indicators

	IBIT	IBTM.L	Difference
Max Drawdown Largest peak-to-trough decline	-52.11%	-53.26%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	-52.11%	-4.18%	-47.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.64%	—
Current Drawdown Current decline from peak	-49.66%	-21.09%	-28.57%
Average Drawdown Average peak-to-trough decline	-16.19%	-29.36%	+13.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.97%	1.41%	+27.56%

Volatility

IBIT vs. IBTM.L - Volatility Comparison

iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 11.85% compared to iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) at 1.91%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than IBTM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBIT	IBTM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.85%	1.91%	+9.94%
Volatility (6M) Calculated over the trailing 6-month period	34.60%	4.14%	+30.46%
Volatility (1Y) Calculated over the trailing 1-year period	44.28%	5.71%	+38.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.32%	8.51%	+41.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.32%	7.83%	+42.49%

IBIT vs. IBTM.L - Expense Ratio Comparison

IBIT has a 0.25% expense ratio, which is higher than IBTM.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBIT vs. IBTM.L - Dividend Comparison

IBIT has not paid dividends to shareholders, while IBTM.L's dividend yield for the trailing twelve months is around 4.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)	4.36%	4.19%	3.94%	3.16%	1.96%	1.14%	1.69%	2.53%	2.34%	2.02%	1.79%	1.97%

Frequently Asked Questions

Can I hold both IBIT and IBTM.L in my portfolio?

IBIT and IBTM.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBIT or IBTM.L?

On fees, IBTM.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBIT or IBTM.L?

IBTM.L is cheaper with a 0.07% expense ratio, compared with 0.25% for IBIT.

What is the main difference between IBIT and IBTM.L?

IBIT is categorized as Cryptocurrency, while IBTM.L is Government Bonds. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while IBTM.L tracks ICE U.S. Treasury 7-10 Year Bond Index. Their fees differ too: 0.25% for IBIT and 0.07% for IBTM.L.