IRON vs. BITW

Last updated Jun 5, 2026

IRON (Disc Medicine Inc.) and BITW (Bitwise 10 Crypto Index Fund) are both stocks. Over the past 5 years, IRON returned -10.84%/yr vs -8.13%/yr for BITW. At a 0.10 correlation, their price movements are largely independent.

Performance

IRON vs. BITW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Disc Medicine Inc. (IRON) and Bitwise 10 Crypto Index Fund (BITW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRON achieves a -10.45% return, which is significantly higher than BITW's -30.38% return.

IRON

• 1D: 1.08%
• 1M: 5.21%
• YTD: -10.45%
• 6M: -24.18%
• 1Y: 50.27%
• 3Y*: 19.63%
• 5Y*: -10.84%
• 10Y*: —

BITW

• 1D: -2.46%
• 1M: -22.16%
• YTD: -30.38%
• 6M: -34.73%
• 1Y: -33.43%
• 3Y*: 58.00%
• 5Y*: -8.13%
• 10Y*: —

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

IRON vs. BITW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IRON Disc Medicine Inc.	-10.45%	25.25%	9.76%	190.40%	-31.65%	-73.55%	2.80%
BITW Bitwise 10 Crypto Index Fund	-30.38%	-2.63%	160.69%	331.10%	-85.92%	-36.83%	403.25%

Correlation

The correlation between IRON and BITW is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Oct 16, 2020	0.10

Return for Risk

IRON vs. BITW — Risk / Return Rank

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

IRON

IRON Risk / Return Rank: 67
IRON Sharpe Ratio Rank: 70
IRON Sortino Ratio Rank: 66
IRON Omega Ratio Rank: 69
IRON Calmar Ratio Rank: 66
IRON Martin Ratio Rank: 65

BITW

BITW Risk / Return Rank: 16
BITW Sharpe Ratio Rank: 13
BITW Sortino Ratio Rank: 15
BITW Omega Ratio Rank: 16
BITW Calmar Ratio Rank: 19
BITW Martin Ratio Rank: 18

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.

IRON vs. BITW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Disc Medicine Inc. (IRON) and Bitwise 10 Crypto Index Fund (BITW). 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.

	IRON	BITW	Difference
Sharpe ratio: Return per unit of total volatility	0.94	-0.68	+1.63
Sortino ratio: Return per unit of downside risk	1.53	-0.81	+2.34
Omega ratio: Gain probability vs. loss probability	1.22	0.91	+0.31
Calmar ratio: Return relative to maximum drawdown	1.25	-0.64	+1.88
Martin ratio: Return relative to average drawdown	2.77	-1.10	+3.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRON vs. BITW - Sharpe Ratio Comparison

The current IRON Sharpe Ratio is 0.94, which is higher than the BITW Sharpe Ratio of -0.68. The chart below compares the historical Sharpe Ratios of IRON and BITW, 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

	IRON	BITW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	-0.68	+1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	-0.12	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	0.22	-0.31

Drawdowns

IRON vs. BITW - Drawdown Comparison

The maximum IRON drawdown since its inception was -93.22%, roughly equal to the maximum BITW drawdown of -96.46%. Use the drawdown chart below to compare losses from any high point for IRON and BITW.

Drawdown Indicators

	IRON	BITW	Difference
Max Drawdown Largest peak-to-trough decline	-93.22%	-96.46%	+3.24%
Max Drawdown (1Y) Largest decline over 1 year	-40.55%	-52.59%	+12.04%
Max Drawdown (3Y) Largest decline over 3 years	-64.79%	-52.59%	-12.20%
Max Drawdown (5Y) Largest decline over 5 years	-90.33%	-92.13%	+1.80%
Current Drawdown Current decline from peak	-60.49%	-70.57%	+10.08%
Average Drawdown Average peak-to-trough decline	-66.48%	-69.60%	+3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.23%	30.43%	-12.20%

Volatility

IRON vs. BITW - Volatility Comparison

Disc Medicine Inc. (IRON) has a higher volatility of 12.12% compared to Bitwise 10 Crypto Index Fund (BITW) at 9.15%. This indicates that IRON's price experiences larger fluctuations and is considered to be riskier than BITW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRON	BITW	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.12%	9.15%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	43.67%	36.54%	+7.13%
Volatility (1Y) Calculated over the trailing 1-year period	53.54%	49.07%	+4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.02%	66.31%	+4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.57%	108.72%	-39.15%

Dividends

IRON vs. BITW - Dividend Comparison

Neither IRON nor BITW has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both IRON and BITW in my portfolio?

IRON and BITW have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRON or BITW?

IRON has higher volatility (12.12%) compared to BITW (9.15%). In terms of maximum drawdown, IRON dropped -93.22% vs BITW's -96.46%.

Which has better risk-adjusted returns?

IRON currently has the higher Sharpe Ratio (0.94 vs -0.68), 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.