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 4.20%/yr vs 29.84%/yr for BITC. Their 0.03 correlation means their historical movements had little consistent relationship. 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 0.62% return, which is significantly higher than BITC's -1.76% return.
IBTI
- 1D
- -0.05%
- 1M
- 0.02%
- 6M
- 0.44%
- YTD
- 0.62%
- 1Y
- 2.46%
- 3Y*
- 4.20%
- 5Y*
- -0.11%
- 10Y*
- —
- ALL TIME*
- 0.30%
BITC
- 1D
- -2.97%
- 1M
- -1.31%
- 6M
- -1.00%
- YTD
- -1.76%
- 1Y
- -24.54%
- 3Y*
- 29.84%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.18K | $64.98K | $91.15K | |
| $9.62M | $10.68M | $9.14M |
IBTI vs. BITC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.62% | 6.15% | 2.52% | 1.79% |
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | -1.76% | -20.46% | 97.86% | 42.71% |
Correlation
The correlation between IBTI and BITC is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
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 | +2.89 | ||
| Sortino ratioReturn per unit of downside risk | +4.44 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.80 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | -0.89 | +3.75 |
| Martin ratioReturn relative to average drawdown | 9.04 | -1.19 | +10.23 |
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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% | -27.89% | +26.79% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -38.51% | +35.70% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | — | — |
Current DrawdownCurrent decline from peak | -3.61% | -32.48% | +28.87% |
Average DrawdownAverage peak-to-trough decline | -8.14% | -16.98% | +8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 20.72% | -20.37% |
Volatility
IBTI vs. BITC - Volatility Comparison
The current volatility for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) is 0.39%, while Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) has a volatility of 8.07%. 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 | 0.39% | 8.07% | -7.68% |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | 18.32% | -17.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.65% | 25.11% | -23.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.97% | 45.81% | -40.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.11% | 45.81% | -40.70% |
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 3.79%, more than BITC's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.42% | 3.36% | 42.68% | 5.82% | 0.00% | 0.00% | 0.00% |
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.45% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% |
Frequently Asked Questions
IBTI and BITC have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITC has higher volatility (8.07%) compared to IBTI (0.39%). In terms of maximum drawdown, IBTI dropped -18.45% vs BITC's -38.51%.
On 3-year performance, BITC leads with 29.84% vs 4.20% for IBTI. On fees, IBTI is cheaper at 0.07% per year. On volatility, IBTI has been the lower-risk option at 0.39%. 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 29.84% return vs 4.20%. 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 3.45%, compared with 3.42% 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 (1.91 vs -0.98), 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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