IDMO vs. GBTC

Last updated Jun 9, 2026

IDMO (Invesco S&P International Developed Momentum ETF) and GBTC (Grayscale Bitcoin Trust ETF) are both exchange-traded funds - IDMO is a Momentum fund tracking the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index, while GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. Both are passively managed. Over the past 10 years, IDMO returned 12.02%/yr vs 49.25%/yr for GBTC. At a 0.22 correlation, their price movements are largely independent. IDMO charges 0.25%/yr vs 1.50%/yr for GBTC.

Performance

IDMO vs. GBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P International Developed Momentum ETF (IDMO) and Grayscale Bitcoin Trust ETF (GBTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDMO achieves a 5.33% return, which is significantly higher than GBTC's -28.07% return. Over the past 10 years, IDMO has underperformed GBTC with an annualized return of 12.02%, while GBTC has yielded a comparatively higher 49.25% annualized return.

IDMO

• 1D: 0.67%
• 1M: -3.78%
• YTD: 5.33%
• 6M: 8.93%
• 1Y: 19.27%
• 3Y*: 24.47%
• 5Y*: 15.15%
• 10Y*: 12.02%

GBTC

• 1D: 5.06%
• 1M: -21.09%
• YTD: -28.07%
• 6M: -30.74%
• 1Y: -40.20%
• 3Y*: 53.71%
• 5Y*: 10.31%
• 10Y*: 49.25%

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

IDMO vs. GBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDMO Invesco S&P International Developed Momentum ETF	5.33%	42.17%	12.79%	20.16%	-12.03%	14.31%	22.01%	26.09%	-16.66%	29.21%
GBTC Grayscale Bitcoin Trust ETF	-28.07%	-7.65%	113.81%	317.61%	-75.80%	7.03%	290.72%	106.56%	-82.10%	1,787.72%

Correlation

The correlation between IDMO and GBTC is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since May 4, 2015	0.22

The correlation between IDMO and GBTC shifts across timeframes, from 0.22 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IDMO vs. GBTC — Risk / Return Rank

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

IDMO

IDMO Risk / Return Rank: 36
IDMO Sharpe Ratio Rank: 34
IDMO Sortino Ratio Rank: 34
IDMO Omega Ratio Rank: 35
IDMO Calmar Ratio Rank: 35
IDMO Martin Ratio Rank: 43

GBTC

GBTC Risk / Return Rank: 2
GBTC Sharpe Ratio Rank: 2
GBTC Sortino Ratio Rank: 2
GBTC Omega Ratio Rank: 2
GBTC Calmar Ratio Rank: 3
GBTC Martin Ratio Rank: 2

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.

IDMO vs. GBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P International Developed Momentum ETF (IDMO) and Grayscale Bitcoin Trust ETF (GBTC). 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.

	IDMO	GBTC	Difference
Sharpe ratio: Return per unit of total volatility	1.12	-0.91	+2.04
Sortino ratio: Return per unit of downside risk	1.67	-1.28	+2.96
Omega ratio: Gain probability vs. loss probability	1.21	0.86	+0.35
Calmar ratio: Return relative to maximum drawdown	1.57	-0.77	+2.34
Martin ratio: Return relative to average drawdown	6.49	-1.38	+7.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDMO vs. GBTC - Sharpe Ratio Comparison

The current IDMO Sharpe Ratio is 1.12, which is higher than the GBTC Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of IDMO and GBTC, 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

	IDMO	GBTC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	-0.91	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.17	+0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.60	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.65	-0.21

Drawdowns

IDMO vs. GBTC - Drawdown Comparison

The maximum IDMO drawdown since its inception was -39.38%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for IDMO and GBTC.

Drawdown Indicators

	IDMO	GBTC	Difference
Max Drawdown Largest peak-to-trough decline	-39.38%	-89.91%	+50.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-52.45%	+40.14%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-52.45%	+39.80%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-85.42%	+58.35%
Max Drawdown (10Y) Largest decline over 10 years	-31.34%	-89.91%	+58.57%
Current Drawdown Current decline from peak	-4.49%	-50.05%	+45.56%
Average Drawdown Average peak-to-trough decline	-9.75%	-43.44%	+33.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	29.16%	-26.17%

Volatility

IDMO vs. GBTC - Volatility Comparison

The current volatility for Invesco S&P International Developed Momentum ETF (IDMO) is 6.18%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 11.75%. This indicates that IDMO experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDMO	GBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	11.75%	-5.57%
Volatility (6M) Calculated over the trailing 6-month period	15.28%	34.55%	-19.27%
Volatility (1Y) Calculated over the trailing 1-year period	17.25%	44.19%	-26.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	62.40%	-44.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.14%	82.22%	-64.08%

IDMO vs. GBTC - Expense Ratio Comparison

IDMO has a 0.25% expense ratio, which is lower than GBTC's 1.50% expense ratio.

Dividends

IDMO vs. GBTC - Dividend Comparison

IDMO's dividend yield for the trailing twelve months is around 3.61%, while GBTC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBTC Grayscale Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.61%	0.00%	0.00%
IDMO Invesco S&P International Developed Momentum ETF	3.61%	3.71%	2.24%	2.89%	3.66%	1.81%	1.63%	2.78%	3.27%	3.08%	2.18%	2.52%

Frequently Asked Questions

Can I hold both IDMO and GBTC in my portfolio?

IDMO and GBTC have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDMO or GBTC?

GBTC has higher volatility (11.75%) compared to IDMO (6.18%). In terms of maximum drawdown, IDMO dropped -39.38% vs GBTC's -89.91%.

Which ETF is better, IDMO or GBTC?

On 10-year performance, GBTC leads with 49.25% vs 12.02% for IDMO. On fees, IDMO is cheaper at 0.25% per year. On volatility, IDMO has been the lower-risk option at 6.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDMO or GBTC?

Over the 10-year period, GBTC has performed better with a 49.25% return vs 12.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDMO or GBTC?

IDMO is cheaper with a 0.25% expense ratio, compared with 1.50% for GBTC.

Which ETF pays a higher dividend yield, IDMO or GBTC?

IDMO has the higher dividend yield at 3.61%, compared with 0.00% for GBTC.

What is the main difference between IDMO and GBTC?

IDMO is categorized as Momentum, while GBTC is Cryptocurrency. IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index, while GBTC tracks CoinDesk Bitcoin Benchmark Rate Index. They also come from different issuers: Invesco and Grayscale. Their fees differ too: 0.25% for IDMO and 1.50% for GBTC.

Which has better risk-adjusted returns?

IDMO currently has the higher Sharpe Ratio (1.12 vs -0.91), 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.