IREN vs. IBIT
IREN (IREN Limited) is a stock, while IBIT (iShares Bitcoin Trust ETF) is Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Over the past year, IREN returned 487.71% vs -40.63% for IBIT. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
IREN vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IREN achieves a 58.25% return, which is significantly higher than IBIT's -27.41% return.
IREN
- 1D
- 5.40%
- 1M
- 8.34%
- YTD
- 58.25%
- 6M
- 48.94%
- 1Y
- 487.71%
- 3Y*
- 155.58%
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IREN vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IREN IREN Limited | 58.25% | 284.62% | 52.25% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between IREN and IBIT is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.51 |
The correlation between IREN and IBIT has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
IREN vs. IBIT — Risk / Return Rank
IREN
IBIT
IREN vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IREN Limited (IREN) 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.
| IREN | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.69 | ||
| Sortino ratioReturn per unit of downside risk | +4.96 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.85 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 8.39 | -0.78 | +9.17 |
| Martin ratioReturn relative to average drawdown | 15.97 | -1.37 | +17.34 |
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Drawdowns
IREN vs. IBIT - Drawdown Comparison
The maximum IREN drawdown since its inception was -96.21%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for IREN and IBIT.
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Drawdown Indicators
| IREN | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.21% | -52.11% | -44.10% |
Max Drawdown (1Y)Largest decline over 1 year | -58.62% | -52.11% | -6.51% |
Max Drawdown (3Y)Largest decline over 3 years | -65.56% | — | — |
Current DrawdownCurrent decline from peak | -21.78% | -49.45% | +27.67% |
Average DrawdownAverage peak-to-trough decline | -65.42% | -16.53% | -48.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.74% | 29.64% | +1.10% |
Volatility
IREN vs. IBIT - Volatility Comparison
IREN Limited (IREN) has a higher volatility of 34.10% compared to iShares Bitcoin Trust ETF (IBIT) at 12.07%. This indicates that IREN's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IREN | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.10% | 12.07% | +22.03% |
Volatility (6M)Calculated over the trailing 6-month period | 75.79% | 34.45% | +41.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 103.25% | 44.10% | +59.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.61% | 50.26% | +68.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.61% | 50.26% | +68.35% |
Dividends
IREN vs. IBIT - Dividend Comparison
Neither IREN nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
IREN and IBIT have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IREN has higher volatility (34.10%) compared to IBIT (12.07%). In terms of maximum drawdown, IREN dropped -96.21% vs IBIT's -52.11%.
IREN currently has the higher Sharpe Ratio (4.76 vs -0.92), 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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