IBTI vs. BITC
IBTI (iShares iBonds Dec 2028 Term Treasury ETF) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both exchange-traded funds - IBTI is a Government Bonds fund tracking the ICE 2028 Maturity US Treasury Index, while BITC is a Cryptocurrency fund actively managed by Bitwise. IBTI is passively managed, while BITC is actively managed. Over the past 3 years, IBTI returned 3.86%/yr vs 28.98%/yr for BITC. At a 0.03 correlation, their price movements are largely independent. IBTI charges 0.07%/yr vs 0.88%/yr for BITC.
Performance
IBTI vs. BITC - Performance Comparison
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Returns By Period
In the year-to-date period, IBTI achieves a 0.31% return, which is significantly lower than BITC's 3.58% return.
IBTI
- 1D
- 0.07%
- 1M
- 0.18%
- YTD
- 0.31%
- 6M
- 0.56%
- 1Y
- 2.98%
- 3Y*
- 3.86%
- 5Y*
- 0.19%
- 10Y*
- —
BITC
- 1D
- -3.33%
- 1M
- -3.10%
- YTD
- 3.58%
- 6M
- 3.49%
- 1Y
- -13.86%
- 3Y*
- 28.98%
- 5Y*
- —
- 10Y*
- —
IBTI vs. BITC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.31% | 6.15% | 2.52% | 1.79% |
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.58% | -20.46% | 97.86% | 42.71% |
Correlation
The correlation between IBTI and BITC is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2023 | 0.03 |
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Return for Risk
IBTI vs. BITC — Risk / Return Rank
IBTI
BITC
IBTI vs. BITC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.
| IBTI | BITC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.33 | ||
| Sortino ratioReturn per unit of downside risk | +3.52 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.90 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | -0.52 | +3.25 |
| Martin ratioReturn relative to average drawdown | 8.76 | -0.73 | +9.50 |
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Drawdowns
IBTI vs. BITC - Drawdown Comparison
The maximum IBTI drawdown since its inception was -18.45%, smaller than the maximum BITC drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for IBTI and BITC.
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Drawdown Indicators
| IBTI | BITC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.45% | -38.51% | +20.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -26.51% | +25.41% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -38.51% | +35.27% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | — | — |
Current DrawdownCurrent decline from peak | -3.91% | -28.82% | +24.91% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -16.51% | +8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 18.94% | -18.60% |
Volatility
IBTI vs. BITC - Volatility Comparison
The current volatility for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) is 0.48%, while Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) has a volatility of 3.42%. This indicates that IBTI experiences smaller price fluctuations and is considered to be less risky than BITC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTI | BITC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 3.42% | -2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | 19.00% | -17.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.69% | 25.12% | -23.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 46.29% | -41.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 46.29% | -41.14% |
IBTI vs. BITC - Expense Ratio Comparison
IBTI has a 0.07% expense ratio, which is lower than BITC's 0.88% expense ratio.
Dividends
IBTI vs. BITC - Dividend Comparison
IBTI's dividend yield for the trailing twelve months is around 3.81%, more than BITC's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.25% | 3.36% | 42.68% | 5.82% | 0.00% | 0.00% | 0.00% |
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.81% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% |
Frequently Asked Questions
IBTI and BITC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITC has higher volatility (3.42%) compared to IBTI (0.48%). In terms of maximum drawdown, IBTI dropped -18.45% vs BITC's -38.51%.
On 3-year performance, BITC leads with 28.98% vs 3.86% for IBTI. On fees, IBTI is cheaper at 0.07% per year. On volatility, IBTI has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITC has performed better with a 28.98% return vs 3.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTI is cheaper with a 0.07% expense ratio, compared with 0.88% for BITC.
IBTI has the higher dividend yield at 3.81%, compared with 3.25% for BITC.
IBTI is categorized as Government Bonds, while BITC is Cryptocurrency. They also come from different issuers: iShares and Bitwise. Their fees differ too: 0.07% for IBTI and 0.88% for BITC.
IBTI currently has the higher Sharpe Ratio (1.78 vs -0.55), 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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