IBIT vs. SPGM
IBIT (iShares Bitcoin Trust ETF) and SPGM (SPDR Portfolio MSCI Global Stock Market ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while SPGM is a Global Equities fund tracking the MSCI AC World IMI. Both are passively managed. Over the past year, IBIT returned -43.11% vs 27.63% for SPGM. At a 0.42 correlation, their price movements are largely independent. IBIT charges 0.25%/yr vs 0.09%/yr for SPGM.
Performance
IBIT vs. SPGM - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -29.22% return, which is significantly lower than SPGM's 10.39% return.
IBIT
- 1D
- -2.09%
- 1M
- -22.68%
- YTD
- -29.22%
- 6M
- -33.51%
- 1Y
- -43.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPGM
- 1D
- -0.15%
- 1M
- -0.20%
- YTD
- 10.39%
- 6M
- 11.12%
- 1Y
- 27.63%
- 3Y*
- 20.31%
- 5Y*
- 10.91%
- 10Y*
- 12.85%
IBIT vs. SPGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -29.22% | -6.41% | 89.87% |
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 10.39% | 23.62% | 17.23% |
Correlation
The correlation between IBIT and SPGM is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.42 |
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Return for Risk
IBIT vs. SPGM — Risk / Return Rank
IBIT
SPGM
IBIT vs. SPGM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and SPDR Portfolio MSCI Global Stock Market ETF (SPGM). 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 | SPGM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.08 | ||
| Sortino ratioReturn per unit of downside risk | -4.26 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.38 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 2.92 | -3.75 |
| Martin ratioReturn relative to average drawdown | -1.48 | 13.03 | -14.51 |
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 | SPGM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.98 | 2.09 | -3.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.65 | -0.45 |
Drawdowns
IBIT vs. SPGM - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, which is greater than SPGM's maximum drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for IBIT and SPGM.
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Drawdown Indicators
| IBIT | SPGM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -33.97% | -18.14% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -9.50% | -42.61% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.97% | — |
Current DrawdownCurrent decline from peak | -50.71% | -3.05% | -47.66% |
Average DrawdownAverage peak-to-trough decline | -16.37% | -4.80% | -11.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.14% | 2.13% | +27.01% |
Volatility
IBIT vs. SPGM - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 11.82% compared to SPDR Portfolio MSCI Global Stock Market ETF (SPGM) at 4.52%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than SPGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | SPGM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.82% | 4.52% | +7.30% |
Volatility (6M)Calculated over the trailing 6-month period | 34.49% | 10.85% | +23.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.23% | 13.26% | +30.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.35% | 16.09% | +34.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.35% | 17.59% | +32.76% |
IBIT vs. SPGM - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is higher than SPGM's 0.09% 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. SPGM - Dividend Comparison
IBIT has not paid dividends to shareholders, while SPGM's dividend yield for the trailing twelve months is around 1.83%.
| 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% |
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 1.83% | 1.89% | 1.98% | 2.09% | 2.37% | 1.94% | 1.45% | 2.46% | 1.89% | 2.29% | 1.87% | 3.70% |
Frequently Asked Questions
IBIT and SPGM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (11.82%) compared to SPGM (4.52%). In terms of maximum drawdown, IBIT dropped -52.11% vs SPGM's -33.97%.
On 1-year performance, SPGM leads with 27.63% vs -43.11% for IBIT. On fees, SPGM is cheaper at 0.09% per year. On volatility, SPGM has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPGM has performed better with a 27.63% return vs -43.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPGM is cheaper with a 0.09% expense ratio, compared with 0.25% for IBIT.
SPGM has the higher dividend yield at 1.83%, compared with 0.00% for IBIT.
IBIT is categorized as Cryptocurrency, while SPGM is Global Equities. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while SPGM tracks MSCI AC World IMI. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for IBIT and 0.09% for SPGM.
SPGM currently has the higher Sharpe Ratio (2.09 vs -0.98), 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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