INDY vs. IBIT

Last updated Aug 4, 2026

INDY (iShares India 50 ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - INDY is a India Equities fund tracking the Nifty 50 Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, INDY returned -7.43% vs -43.69% for IBIT. Their 0.23 correlation means their historical movements had little consistent relationship. INDY charges 0.65%/yr vs 0.25%/yr for IBIT.

Performance

INDY vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares India 50 ETF (INDY) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDY achieves a -10.20% return, which is significantly higher than IBIT's -27.17% return.

INDY

• 1D: 0.94%
• 1M: 1.12%
• 6M: -8.51%
• YTD: -10.20%
• 1Y: -7.43%
• 3Y*: 2.00%
• 5Y*: 2.17%
• 10Y*: 6.16%
• ALL TIME*: 5.00%

IBIT

• 1D: 1.46%
• 1M: 3.70%
• 6M: -18.23%
• YTD: -27.17%
• 1Y: -43.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBIT iShares Bitcoin Trust ETF	$1.33B	$1.34B	$1.65B
INDY iShares India 50 ETF	$4.15M	$4.11M	$5.43M

INDY vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
INDY iShares India 50 ETF	-10.20%	4.97%	3.30%
IBIT iShares Bitcoin Trust ETF	-27.17%	-6.41%	89.87%

Correlation

The correlation between INDY and IBIT is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.23

Return for Risk

INDY vs. IBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INDY

INDY Risk / Return Rank: 5
INDY Sharpe Ratio Rank: 5
INDY Sortino Ratio Rank: 5
INDY Omega Ratio Rank: 5
INDY Calmar Ratio Rank: 6
INDY Martin Ratio Rank: 6

IBIT

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INDY vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) and iShares Bitcoin Trust ETF (IBIT). 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.

	INDY	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	-0.99	+0.48
Sortino ratio: Return per unit of downside risk	-0.66	-1.44	+0.79
Omega ratio: Gain probability vs. loss probability	0.93	0.84	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.41	-0.82	+0.41
Martin ratio: Return relative to average drawdown	-0.81	-1.26	+0.44

INDY vs. IBIT - Sharpe Ratio Comparison

The current INDY Sharpe Ratio is -0.51, which is higher than the IBIT Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of INDY and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INDY vs. IBIT - Drawdown Comparison

The maximum INDY drawdown since its inception was -44.74%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for INDY and IBIT.

Drawdown Indicators

	INDY	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-44.74%	-53.30%	+8.56%
Max Drawdown (1Y) Largest decline over 1 year	-18.09%	-53.30%	+35.21%
Max Drawdown (3Y) Largest decline over 3 years	-22.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.50%	—	—
Current Drawdown Current decline from peak	-16.16%	-49.28%	+33.12%
Average Drawdown Average peak-to-trough decline	-12.28%	-18.29%	+6.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.14%	34.80%	-25.66%

Volatility

INDY vs. IBIT - Volatility Comparison

The current volatility for iShares India 50 ETF (INDY) is 4.20%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.98%. This indicates that INDY experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDY	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	8.98%	-4.78%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	33.79%	-20.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.70%	44.48%	-29.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	49.57%	-34.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.52%	49.57%	-30.05%

INDY vs. IBIT - Expense Ratio Comparison

INDY has a 0.65% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

INDY vs. IBIT - Dividend Comparison

INDY's dividend yield for the trailing twelve months is around 9.27%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
INDY iShares India 50 ETF	9.27%	8.11%	0.24%	0.38%	3.75%	7.12%	0.08%	0.58%	0.55%	0.27%	0.48%	0.57%

Frequently Asked Questions

Can I hold both INDY and IBIT in my portfolio?

INDY and IBIT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDY or IBIT?

IBIT has higher volatility (8.98%) compared to INDY (4.20%). In terms of maximum drawdown, INDY dropped -44.74% vs IBIT's -53.30%.

Which ETF is better, INDY or IBIT?

On 1-year performance, INDY leads with -7.43% vs -43.69% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, INDY has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INDY or IBIT?

Over the 1-year period, INDY has performed better with a -7.43% return vs -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INDY or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.65% for INDY.

Which ETF pays a higher dividend yield, INDY or IBIT?

INDY has the higher dividend yield at 9.27%, compared with 0.00% for IBIT.

What is the main difference between INDY and IBIT?

INDY is categorized as India Equities, while IBIT is Cryptocurrency. INDY tracks Nifty 50 Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.65% for INDY and 0.25% for IBIT.

Which has better risk-adjusted returns?

INDY currently has the higher Sharpe Ratio (-0.51 vs -0.99), 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.