IEV vs. BTC-USD
IEV (iShares Europe ETF) is Europe Equities fund tracking the S&P Europe 350 Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, IEV returned 10.08%/yr vs 55.97%/yr for BTC-USD. At a 0.11 correlation, their price movements are largely independent.
Performance
IEV vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, IEV achieves a 7.67% return, which is significantly higher than BTC-USD's -25.06% return. Over the past 10 years, IEV has underperformed BTC-USD with an annualized return of 10.08%, while BTC-USD has yielded a comparatively higher 55.97% annualized return.
IEV
- 1D
- 0.24%
- 1M
- 4.78%
- YTD
- 7.67%
- 6M
- 9.80%
- 1Y
- 19.81%
- 3Y*
- 16.38%
- 5Y*
- 8.81%
- 10Y*
- 10.08%
BTC-USD
- 1D
- 2.42%
- 1M
- -17.06%
- YTD
- -25.06%
- 6M
- -25.64%
- 1Y
- -37.83%
- 3Y*
- 36.87%
- 5Y*
- 10.30%
- 10Y*
- 55.97%
IEV vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEV iShares Europe ETF | 7.67% | 35.63% | 1.36% | 20.14% | -14.24% | 16.73% | 4.07% | 24.03% | -14.68% | 24.84% |
BTC-USD Bitcoin | -25.06% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between IEV and BTC-USD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2012 | 0.11 |
Over the past year, IEV and BTC-USD have become more correlated (0.35) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
IEV vs. BTC-USD — Risk / Return Rank
IEV
BTC-USD
IEV vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Europe ETF (IEV) and Bitcoin (BTC-USD). 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.
| IEV | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.84 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.88 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | -0.74 | +2.18 |
| Martin ratioReturn relative to average drawdown | 5.27 | -1.28 | +6.55 |
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Drawdowns
IEV vs. BTC-USD - Drawdown Comparison
The maximum IEV drawdown since its inception was -63.27%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for IEV and BTC-USD.
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Drawdown Indicators
| IEV | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.27% | -85.30% | +22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -51.21% | +38.90% |
Max Drawdown (3Y)Largest decline over 3 years | -14.63% | -51.21% | +36.58% |
Max Drawdown (5Y)Largest decline over 5 years | -30.60% | -76.67% | +46.07% |
Max Drawdown (10Y)Largest decline over 10 years | -36.62% | -83.80% | +47.18% |
Current DrawdownCurrent decline from peak | -0.66% | -47.43% | +46.77% |
Average DrawdownAverage peak-to-trough decline | -15.03% | -42.37% | +27.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 35.28% | -31.89% |
Volatility
IEV vs. BTC-USD - Volatility Comparison
The current volatility for iShares Europe ETF (IEV) is 5.78%, while Bitcoin (BTC-USD) has a volatility of 12.10%. This indicates that IEV experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEV | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.78% | 12.10% | -6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 13.54% | 34.64% | -21.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.13% | 35.63% | -19.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 44.55% | -26.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.66% | 56.61% | -37.95% |
Frequently Asked Questions
IEV and BTC-USD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (12.10%) compared to IEV (5.78%). In terms of maximum drawdown, IEV dropped -63.27% vs BTC-USD's -85.30%.
IEV currently has the higher Sharpe Ratio (1.10 vs -0.88), 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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