IPAY vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about ETFMG Prime Mobile Payments ETF (IPAY) and Bitcoin (BTC-USD).

IPAY is a passively managed fund by ETFMG that tracks the performance of the Prime Mobile Payments Index. It was launched on Jul 15, 2015.

Performance

IPAY vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Prime Mobile Payments ETF (IPAY) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

IPAY vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPAY ETFMG Prime Mobile Payments ETF	-18.32%	-9.55%	25.88%	18.21%	-32.38%	-12.72%	34.22%	41.80%	0.17%	36.34%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Returns By Period

In the year-to-date period, IPAY achieves a -18.32% return, which is significantly higher than BTC-USD's -21.63% return. Over the past 10 years, IPAY has underperformed BTC-USD with an annualized return of 6.04%, while BTC-USD has yielded a comparatively higher 66.45% annualized return.

IPAY

• 1D: -0.69%
• 1M: -6.81%
• YTD: -18.32%
• 6M: -25.05%
• 1Y: -20.22%
• 3Y*: 1.18%
• 5Y*: -8.78%
• 10Y*: 6.04%

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

IPAY vs. BTC-USD — Risk / Return Rank

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

IPAY

IPAY Risk / Return Rank: 2
IPAY Sharpe Ratio Rank: 2
IPAY Sortino Ratio Rank: 2
IPAY Omega Ratio Rank: 2
IPAY Calmar Ratio Rank: 3
IPAY Martin Ratio Rank: 1

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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.

IPAY vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) 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.

	IPAY	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	-0.74	-0.44	-0.30
Sortino ratio Return per unit of downside risk	-0.92	-0.38	-0.54
Omega ratio Gain probability vs. loss probability	0.88	0.96	-0.08
Calmar ratio Return relative to maximum drawdown	-0.62	-1.11	+0.48
Martin ratio Return relative to average drawdown	-1.48	-1.99	+0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPAY vs. BTC-USD - Sharpe Ratio Comparison

The current IPAY Sharpe Ratio is -0.74, which is lower than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of IPAY and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IPAY	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.74	-0.44	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.34	0.05	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.97	-0.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.19	-0.99

Correlation

The correlation between IPAY and BTC-USD is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

IPAY vs. BTC-USD - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for IPAY and BTC-USD.

Drawdown Indicators

	IPAY	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-85.30%	+33.55%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-49.65%	+18.34%
Max Drawdown (5Y) Largest decline over 5 years	-51.75%	-76.67%	+24.92%
Max Drawdown (10Y) Largest decline over 10 years	-51.75%	-83.80%	+32.05%
Current Drawdown Current decline from peak	-40.87%	-45.02%	+4.15%
Average Drawdown Average peak-to-trough decline	-16.36%	-41.99%	+25.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.18%	27.60%	-14.42%

Volatility

IPAY vs. BTC-USD - Volatility Comparison

The current volatility for ETFMG Prime Mobile Payments ETF (IPAY) is 7.12%, while Bitcoin (BTC-USD) has a volatility of 13.58%. This indicates that IPAY 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.

Volatility by Period

	IPAY	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.12%	13.58%	-6.46%
Volatility (6M) Calculated over the trailing 6-month period	17.91%	35.98%	-18.07%
Volatility (1Y) Calculated over the trailing 1-year period	27.49%	36.76%	-9.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.79%	46.90%	-21.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.19%	56.70%	-31.51%