IBIT vs. SPYG
IBIT (iShares Bitcoin Trust ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past year, IBIT returned -39.67% vs 29.17% for SPYG. At a 0.39 correlation, their price movements are largely independent. IBIT charges 0.25%/yr vs 0.04%/yr for SPYG.
Performance
IBIT vs. SPYG - 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 SPYG's 9.70% return.
IBIT
- 1D
- -0.03%
- 1M
- -19.59%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYG
- 1D
- 0.41%
- 1M
- -1.24%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
IBIT vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.47% |
Correlation
The correlation between IBIT and SPYG is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.39 |
The correlation between IBIT and SPYG shifts across timeframes, from 0.39 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBIT vs. SPYG — Risk / Return Rank
IBIT
SPYG
IBIT vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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 | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.57 | ||
| Sortino ratioReturn per unit of downside risk | -3.56 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.29 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.01 | -2.79 |
| Martin ratioReturn relative to average drawdown | -1.37 | 8.08 | -9.46 |
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Drawdowns
IBIT vs. SPYG - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for IBIT and SPYG.
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Drawdown Indicators
| IBIT | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -67.63% | +15.52% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -13.76% | -38.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.14% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.67% | — |
Current DrawdownCurrent decline from peak | -49.45% | -4.65% | -44.80% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -24.30% | +7.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 3.42% | +26.22% |
Volatility
IBIT vs. SPYG - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.07% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 6.33%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 6.33% | +5.74% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 13.48% | +20.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 16.81% | +27.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 21.27% | +28.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 20.70% | +29.56% |
IBIT vs. SPYG - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is higher than SPYG's 0.04% 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. SPYG - Dividend Comparison
IBIT has not paid dividends to shareholders, while SPYG's dividend yield for the trailing twelve months is around 0.48%.
| 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% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.48% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
IBIT and SPYG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to SPYG (6.33%). In terms of maximum drawdown, IBIT dropped -52.11% vs SPYG's -67.63%.
On 1-year performance, SPYG leads with 29.17% vs -39.67% for IBIT. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYG has performed better with a 29.17% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.25% for IBIT.
SPYG has the higher dividend yield at 0.48%, compared with 0.00% for IBIT.
IBIT is categorized as Cryptocurrency, while SPYG is S&P 500. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for IBIT and 0.04% for SPYG.
SPYG currently has the higher Sharpe Ratio (1.65 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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