IVVW vs. IBIT
IVVW (iShares S&P 500 BuyWrite ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IVVW is a Derivative Income fund tracking the Cboe S&P 500 Enhanced 1% OTM BuyWrite 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, IVVW returned 17.28% vs -39.82% for IBIT. At a 0.40 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
IVVW vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IVVW achieves a 4.01% return, which is significantly higher than IBIT's -28.88% return.
IVVW
- 1D
- -1.24%
- 1M
- 0.16%
- YTD
- 4.01%
- 6M
- 4.08%
- 1Y
- 17.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 4.01% | 11.71% | 12.76% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 34.27% |
Correlation
The correlation between IVVW and IBIT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | 0.40 |
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Return for Risk
IVVW vs. IBIT — Risk / Return Rank
IVVW
IBIT
IVVW vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 BuyWrite ETF (IVVW) 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.
| IVVW | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.06 | ||
| Sortino ratioReturn per unit of downside risk | +4.20 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 0.86 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | -0.77 | +3.75 |
| Martin ratioReturn relative to average drawdown | 15.95 | -1.30 | +17.26 |
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Drawdowns
IVVW vs. IBIT - Drawdown Comparison
The maximum IVVW drawdown since its inception was -16.79%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for IVVW and IBIT.
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Drawdown Indicators
| IVVW | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.79% | -52.11% | +35.32% |
Max Drawdown (1Y)Largest decline over 1 year | -5.81% | -52.11% | +46.30% |
Current DrawdownCurrent decline from peak | -1.37% | -50.47% | +49.10% |
Average DrawdownAverage peak-to-trough decline | -1.73% | -16.85% | +15.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 30.58% | -29.49% |
Volatility
IVVW vs. IBIT - Volatility Comparison
The current volatility for iShares S&P 500 BuyWrite ETF (IVVW) is 3.45%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. This indicates that IVVW 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.
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Volatility by Period
| IVVW | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 13.18% | -9.73% |
Volatility (6M)Calculated over the trailing 6-month period | 6.91% | 34.64% | -27.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.05% | 44.31% | -36.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 50.22% | -37.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.69% | 50.22% | -37.53% |
IVVW vs. IBIT - Expense Ratio Comparison
Both IVVW and IBIT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IVVW vs. IBIT - Dividend Comparison
IVVW's dividend yield for the trailing twelve months is around 19.86%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% |
IVVW iShares S&P 500 BuyWrite ETF | 19.86% | 18.55% | 13.72% |
Frequently Asked Questions
IVVW and IBIT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.18%) compared to IVVW (3.45%). In terms of maximum drawdown, IVVW dropped -16.79% vs IBIT's -52.11%.
On 1-year performance, IVVW leads with 17.28% vs -39.82% for IBIT. Both ETFs have the same 0.25% expense ratio. On volatility, IVVW has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 17.28% return vs -39.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW and IBIT have the same expense ratio: 0.25% per year.
IVVW has the higher dividend yield at 19.86%, compared with 0.00% for IBIT.
IVVW is categorized as Derivative Income, while IBIT is Cryptocurrency. IVVW tracks Cboe S&P 500 Enhanced 1% OTM BuyWrite Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant.
IVVW currently has the higher Sharpe Ratio (2.16 vs -0.90), 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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