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IBIT vs. VMRXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBIT vs. VMRXX

Last updated Jun 9, 2026

IBIT (iShares Bitcoin Trust ETF) and VMRXX (Vanguard Cash Reserves Federal Money Market Fund Admiral Shares) are both funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while VMRXX is a Money Market fund actively managed by Vanguard. IBIT is passively managed, while VMRXX is actively managed. Over the past year, IBIT returned -39.44% vs 3.96% for VMRXX. At a correlation of -0.04, they often move in opposite directions. IBIT charges 0.25%/yr vs 0.10%/yr for VMRXX.

Performance

IBIT vs. VMRXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bitcoin Trust ETF (IBIT) and Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IBIT achieves a -27.71% return, which is significantly lower than VMRXX's 1.50% return.

IBIT

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

VMRXX

1D
0.00%
1M
0.30%
YTD
1.50%
6M
1.83%
1Y
3.96%
3Y*
3.96%
5Y*
2.76%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IBIT vs. VMRXX - Yearly Performance Comparison

2026 (YTD)20252024
IBIT
iShares Bitcoin Trust ETF		-27.71%-6.41%99.21%
VMRXX
Vanguard Cash Reserves Federal Money Market Fund Admiral Shares		1.50%4.25%3.45%

Correlation

The correlation between IBIT and VMRXX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.04

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2024

-0.04

Compare stocks, funds, or ETFs

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iShares Bitcoin Trust ETF

Vanguard Cash Reserves Federal Money Market Fund Admiral Shares

Often compared with IBIT:
IBIT vs. BTC-USDIBIT vs. FBTCIBIT vs. BITOIBIT vs. BITBIBIT vs. GBTCIBIT vs. BTCIIBIT vs. ARKB
Often compared with VMRXX:
VMRXX vs. VMFXXVMRXX vs. VUSXXVMRXX vs. SWVXXVMRXX vs. VGSHVMRXX vs. FCSSXVMRXX vs. VYMVMRXX vs. USFR

Return for Risk

IBIT vs. VMRXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBIT
IBIT Risk / Return Rank: 33
Overall Rank
IBIT Sharpe Ratio Rank: 22
Sharpe Ratio Rank
IBIT Sortino Ratio Rank: 33
Sortino Ratio Rank
IBIT Omega Ratio Rank: 33
Omega Ratio Rank
IBIT Calmar Ratio Rank: 33
Calmar Ratio Rank
IBIT Martin Ratio Rank: 22
Martin Ratio Rank
VMRXX
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. VMRXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX). 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.

IBITVMRXXDifference
Sharpe ratioReturn per unit of total volatility
-0.90
3.67

-4.57

Sortino ratioReturn per unit of downside risk
-1.24

—

—

Omega ratioGain probability vs. loss probability

0.86

—

—

Calmar ratioReturn relative to maximum drawdown

-0.76

—

—

Martin ratioReturn relative to average drawdown

-1.36

—

—

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. VMRXX - Sharpe Ratio Comparison

The current IBIT Sharpe Ratio is -0.90, which is lower than the VMRXX Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of IBIT and VMRXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IBITVMRXXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.90

3.67

-4.57

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

2.77

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

2.76

-2.50

Drawdowns

IBIT vs. VMRXX - Drawdown Comparison

The maximum IBIT drawdown since its inception was -52.11%, which is greater than VMRXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for IBIT and VMRXX.

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Drawdown Indicators

IBITVMRXXDifference

Max Drawdown

Largest peak-to-trough decline

-52.11%

0.00%

-52.11%

Max Drawdown (1Y)

Largest decline over 1 year

-52.11%

0.00%

-52.11%

Max Drawdown (3Y)

Largest decline over 3 years

—

0.00%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

0.00%

—

Current Drawdown

Current decline from peak

-49.66%

0.00%

-49.66%

Average Drawdown

Average peak-to-trough decline

-16.19%

0.00%

-16.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

28.97%

0.00%

+28.97%

Volatility

IBIT vs. VMRXX - Volatility Comparison

iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 11.85% compared to Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) at 0.30%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than VMRXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IBITVMRXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.85%

0.30%

+11.55%

Volatility (6M)

Calculated over the trailing 6-month period

34.60%

0.79%

+33.81%

Volatility (1Y)

Calculated over the trailing 1-year period

44.28%

1.12%

+43.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

50.32%

1.02%

+49.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

50.32%

1.02%

+49.30%

IBIT vs. VMRXX - Expense Ratio Comparison

IBIT has a 0.25% expense ratio, which is higher than VMRXX's 0.10% 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. VMRXX - Dividend Comparison

IBIT has not paid dividends to shareholders, while VMRXX's dividend yield for the trailing twelve months is around 3.88%.

PositionTTM20252024202320222021
IBIT
iShares Bitcoin Trust ETF		0.00%0.00%0.00%0.00%0.00%0.00%
VMRXX
Vanguard Cash Reserves Federal Money Market Fund Admiral Shares		3.88%4.15%3.38%4.54%0.00%0.01%

Frequently Asked Questions

IBIT and VMRXX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBIT has higher volatility (11.85%) compared to VMRXX (0.30%). In terms of maximum drawdown, IBIT dropped -52.11% vs VMRXX's 0.00%.

VMRXX currently has the higher Sharpe Ratio (3.67 vs -0.90), 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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