IBLC vs. WGMI

Last updated Jun 4, 2026

IBLC (iShares Blockchain and Tech ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. IBLC is passively managed, while WGMI is actively managed. Over the past 3 years, IBLC returned 48.31%/yr vs 86.17%/yr for WGMI. With a 0.95 correlation, they move nearly in lockstep. IBLC charges 0.47%/yr vs 0.75%/yr for WGMI.

Performance

IBLC vs. WGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Blockchain and Tech ETF (IBLC) and Valkyrie Bitcoin Miners ETF (WGMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBLC achieves a 32.34% return, which is significantly lower than WGMI's 84.78% return.

IBLC

• 1D: -3.00%
• 1M: 13.52%
• YTD: 32.34%
• 6M: 15.25%
• 1Y: 73.27%
• 3Y*: 48.31%
• 5Y*: —
• 10Y*: —

WGMI

• 1D: -1.11%
• 1M: 40.03%
• YTD: 84.78%
• 6M: 55.52%
• 1Y: 294.61%
• 3Y*: 86.17%
• 5Y*: —
• 10Y*: —

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

IBLC vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBLC iShares Blockchain and Tech ETF	32.34%	27.05%	18.58%	201.47%	-57.76%
WGMI Valkyrie Bitcoin Miners ETF	84.78%	72.47%	23.54%	304.08%	-74.52%

Correlation

The correlation between IBLC and WGMI is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022	0.95

The correlation between IBLC and WGMI has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

IBLC vs. WGMI - Sectors Allocation Comparison

Sectors	IBLC	WGMI
Financial Services	66.6%	51.3%
Technology	30.7%	45.9%
Communication Services	2.5%	1.2%
Utilities	0.2%	1.2%
Consumer Cyclical	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.5%
Real Estate	-	-

Return for Risk

IBLC vs. WGMI — Risk / Return Rank

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

IBLC

IBLC Risk / Return Rank: 33
IBLC Sharpe Ratio Rank: 37
IBLC Sortino Ratio Rank: 36
IBLC Omega Ratio Rank: 33
IBLC Calmar Ratio Rank: 33
IBLC Martin Ratio Rank: 24

WGMI

WGMI Risk / Return Rank: 79
WGMI Sharpe Ratio Rank: 95
WGMI Sortino Ratio Rank: 76
WGMI Omega Ratio Rank: 69
WGMI Calmar Ratio Rank: 91
WGMI Martin Ratio Rank: 64

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. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Blockchain and Tech ETF (IBLC) and Valkyrie Bitcoin Miners ETF (WGMI). 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.

	IBLC	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	1.34	3.91	-2.56
Sortino ratio: Return per unit of downside risk	1.92	3.49	-1.57
Omega ratio: Gain probability vs. loss probability	1.23	1.42	-0.19
Calmar ratio: Return relative to maximum drawdown	1.64	5.83	-4.19
Martin ratio: Return relative to average drawdown	3.26	11.81	-8.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBLC vs. WGMI - Sharpe Ratio Comparison

The current IBLC Sharpe Ratio is 1.34, which is lower than the WGMI Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of IBLC and WGMI, 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

	IBLC	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	3.91	-2.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.31	+0.09

Drawdowns

IBLC vs. WGMI - Drawdown Comparison

The maximum IBLC drawdown since its inception was -62.54%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for IBLC and WGMI.

Drawdown Indicators

	IBLC	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-62.54%	-85.76%	+23.22%
Max Drawdown (1Y) Largest decline over 1 year	-44.94%	-50.94%	+6.00%
Max Drawdown (3Y) Largest decline over 3 years	-51.68%	-62.79%	+11.11%
Current Drawdown Current decline from peak	-12.99%	-1.11%	-11.88%
Average Drawdown Average peak-to-trough decline	-25.89%	-42.90%	+17.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.56%	25.08%	-2.52%

Volatility

IBLC vs. WGMI - Volatility Comparison

The current volatility for iShares Blockchain and Tech ETF (IBLC) is 14.67%, while Valkyrie Bitcoin Miners ETF (WGMI) has a volatility of 20.10%. This indicates that IBLC experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBLC	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.67%	20.10%	-5.43%
Volatility (6M) Calculated over the trailing 6-month period	40.76%	55.64%	-14.88%
Volatility (1Y) Calculated over the trailing 1-year period	54.94%	76.03%	-21.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.49%	81.53%	-17.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.49%	81.53%	-17.04%

IBLC vs. WGMI - Expense Ratio Comparison

IBLC has a 0.47% expense ratio, which is lower than WGMI's 0.75% expense ratio.

Dividends

IBLC vs. WGMI - Dividend Comparison

IBLC's dividend yield for the trailing twelve months is around 4.77%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
IBLC iShares Blockchain and Tech ETF	4.77%	6.31%	1.60%	1.79%	0.84%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%	0.00%

Frequently Asked Questions

Can I hold both IBLC and WGMI in my portfolio?

With a correlation of 0.93, IBLC and WGMI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IBLC or WGMI?

WGMI has higher volatility (20.10%) compared to IBLC (14.67%). In terms of maximum drawdown, IBLC dropped -62.54% vs WGMI's -85.76%.

Which ETF is better, IBLC or WGMI?

On 3-year performance, WGMI leads with 86.17% vs 48.31% for IBLC. On fees, IBLC is cheaper at 0.47% per year. On volatility, IBLC has been the lower-risk option at 14.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBLC or WGMI?

Over the 3-year period, WGMI has performed better with a 86.17% return vs 48.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBLC or WGMI?

IBLC is cheaper with a 0.47% expense ratio, compared with 0.75% for WGMI.

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

IBLC has the higher dividend yield at 4.77%, compared with 0.00% for WGMI.

What is the main difference between IBLC and WGMI?

They also come from different issuers: iShares and Valkyrie. Their fees differ too: 0.47% for IBLC and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (3.91 vs 1.34), 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.