IBLC vs. BTCZ

Last updated Jun 24, 2026

IBLC (iShares Blockchain and Tech ETF) and BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) are both Cryptocurrency funds. IBLC is passively managed, while BTCZ is actively managed. Over the past year, IBLC returned 63.95% vs 59.01% for BTCZ. At a correlation of -0.72, they often move in opposite directions. IBLC charges 0.47%/yr vs 0.95%/yr for BTCZ.

Performance

IBLC vs. BTCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Blockchain and Tech ETF (IBLC) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBLC achieves a 27.22% return, which is significantly lower than BTCZ's 40.86% return.

IBLC

• 1D: -2.19%
• 1M: -0.02%
• YTD: 27.22%
• 6M: 19.07%
• 1Y: 63.95%
• 3Y*: 45.22%
• 5Y*: —
• 10Y*: —

BTCZ

• 1D: 6.37%
• 1M: 40.52%
• YTD: 40.86%
• 6M: 41.38%
• 1Y: 59.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBLC vs. BTCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBLC iShares Blockchain and Tech ETF	27.22%	27.05%	6.97%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	40.86%	-29.11%	-76.45%

Correlation

The correlation between IBLC and BTCZ is -0.72, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.72
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	-0.72

The correlation between IBLC and BTCZ has been stable across timeframes, ranging from -0.72 to -0.72 - a consistent structural relationship.

Return for Risk

IBLC vs. BTCZ — Risk / Return Rank

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

IBLC

IBLC Risk / Return Rank: 30
IBLC Sharpe Ratio Rank: 33
IBLC Sortino Ratio Rank: 34
IBLC Omega Ratio Rank: 32
IBLC Calmar Ratio Rank: 30
IBLC Martin Ratio Rank: 23

BTCZ

BTCZ Risk / Return Rank: 24
BTCZ Sharpe Ratio Rank: 21
BTCZ Sortino Ratio Rank: 27
BTCZ Omega Ratio Rank: 26
BTCZ Calmar Ratio Rank: 27
BTCZ 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.

IBLC vs. BTCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Blockchain and Tech ETF (IBLC) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). 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.

	IBLC	BTCZ	Difference
Sharpe ratio: Return per unit of total volatility	1.15	0.67	+0.48
Sortino ratio: Return per unit of downside risk	1.73	1.43	+0.30
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.03
Calmar ratio: Return relative to maximum drawdown	1.43	1.21	+0.22
Martin ratio: Return relative to average drawdown	2.80	2.49	+0.32

IBLC vs. BTCZ - Sharpe Ratio Comparison

The current IBLC Sharpe Ratio is 1.15, which is higher than the BTCZ Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of IBLC and BTCZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBLC vs. BTCZ - Drawdown Comparison

The maximum IBLC drawdown since its inception was -62.54%, smaller than the maximum BTCZ drawdown of -91.06%. Use the drawdown chart below to compare losses from any high point for IBLC and BTCZ.

Drawdown Indicators

	IBLC	BTCZ	Difference
Max Drawdown Largest peak-to-trough decline	-62.54%	-91.06%	+28.52%
Max Drawdown (1Y) Largest decline over 1 year	-44.94%	-49.02%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-51.68%	—	—
Current Drawdown Current decline from peak	-16.36%	-77.28%	+60.92%
Average Drawdown Average peak-to-trough decline	-25.76%	-73.68%	+47.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.89%	24.87%	-1.98%

Volatility

IBLC vs. BTCZ - Volatility Comparison

The current volatility for iShares Blockchain and Tech ETF (IBLC) is 16.66%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 26.49%. This indicates that IBLC experiences smaller price fluctuations and is considered to be less risky than BTCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBLC	BTCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.66%	26.49%	-9.83%
Volatility (6M) Calculated over the trailing 6-month period	41.64%	68.94%	-27.30%
Volatility (1Y) Calculated over the trailing 1-year period	55.87%	88.72%	-32.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.51%	97.08%	-32.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.51%	97.08%	-32.57%

IBLC vs. BTCZ - Expense Ratio Comparison

IBLC has a 0.47% expense ratio, which is lower than BTCZ's 0.95% expense ratio.

Dividends

IBLC vs. BTCZ - Dividend Comparison

IBLC's dividend yield for the trailing twelve months is around 4.92%, more than BTCZ's 0.01% yield.

Position	TTM	2025	2024	2023	2022
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%	0.00%	0.00%
IBLC iShares Blockchain and Tech ETF	4.92%	6.31%	1.60%	1.79%	0.84%

Frequently Asked Questions

Can I hold both IBLC and BTCZ in my portfolio?

IBLC and BTCZ have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBLC or BTCZ?

BTCZ has higher volatility (26.49%) compared to IBLC (16.66%). In terms of maximum drawdown, IBLC dropped -62.54% vs BTCZ's -91.06%.

Which ETF is better, IBLC or BTCZ?

On 1-year performance, IBLC leads with 63.95% vs 59.01% for BTCZ. On fees, IBLC is cheaper at 0.47% per year. On volatility, IBLC has been the lower-risk option at 16.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBLC or BTCZ?

Over the 1-year period, IBLC has performed better with a 63.95% return vs 59.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBLC or BTCZ?

IBLC is cheaper with a 0.47% expense ratio, compared with 0.95% for BTCZ.

Which ETF pays a higher dividend yield, IBLC or BTCZ?

IBLC has the higher dividend yield at 4.92%, compared with 0.01% for BTCZ.

What is the main difference between IBLC and BTCZ?

They also come from different issuers: iShares and T-Rex. Their fees differ too: 0.47% for IBLC and 0.95% for BTCZ.

Which has better risk-adjusted returns?

IBLC currently has the higher Sharpe Ratio (1.15 vs 0.67), 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.