IWC vs. IBIT
IWC (iShares Micro-Cap ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IWC is a Small Cap Blend Equities fund tracking the Russell Microcap 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, IWC returned 48.46% vs -44.50% for IBIT. Their 0.46 correlation means their historical movements had little consistent relationship. IWC charges 0.60%/yr vs 0.25%/yr for IBIT.
Performance
IWC vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IWC achieves a 19.50% return, which is significantly higher than IBIT's -28.22% return.
IWC
- 1D
- -0.70%
- 1M
- -5.03%
- 6M
- 12.92%
- YTD
- 19.50%
- 1Y
- 48.46%
- 3Y*
- 19.06%
- 5Y*
- 6.69%
- 10Y*
- 11.12%
- ALL TIME*
- 7.67%
IBIT
- 1D
- -2.89%
- 1M
- 2.21%
- 6M
- -24.95%
- YTD
- -28.22%
- 1Y
- -44.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.30B | $1.34B | $1.68B | |
| $9.94M | $13.29M | $20.50M |
IWC vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWC iShares Micro-Cap ETF | 19.50% | 22.45% | 16.83% |
IBIT iShares Bitcoin Trust ETF | -28.22% | -6.41% | 89.87% |
Correlation
The correlation between IWC and IBIT is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.46 |
The correlation between IWC and IBIT has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.
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Return for Risk
IWC vs. IBIT — Risk / Return Rank
IWC
IBIT
IWC vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Micro-Cap ETF (IWC) 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.
| IWC | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.93 | ||
| Sortino ratioReturn per unit of downside risk | +4.13 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.83 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | -0.87 | +4.54 |
| Martin ratioReturn relative to average drawdown | 11.65 | -1.34 | +12.98 |
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Drawdowns
IWC vs. IBIT - Drawdown Comparison
The maximum IWC drawdown since its inception was -64.61%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for IWC and IBIT.
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Drawdown Indicators
| IWC | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.61% | -53.30% | -11.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -53.30% | +40.87% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.21% | — | — |
Current DrawdownCurrent decline from peak | -6.31% | -50.01% | +43.70% |
Average DrawdownAverage peak-to-trough decline | -15.18% | -18.24% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.91% | 34.66% | -30.75% |
Volatility
IWC vs. IBIT - Volatility Comparison
The current volatility for iShares Micro-Cap ETF (IWC) is 4.63%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.21%. This indicates that IWC 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
| IWC | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.63% | 9.21% | -4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 18.22% | 33.74% | -15.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.13% | 44.46% | -20.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.46% | 49.60% | -25.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.48% | 49.60% | -25.12% |
IWC vs. IBIT - Expense Ratio Comparison
IWC has a 0.60% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
IWC vs. IBIT - Dividend Comparison
IWC's dividend yield for the trailing twelve months is around 1.01%, 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% |
IWC iShares Micro-Cap ETF | 1.01% | 1.10% | 1.06% | 1.17% | 1.18% | 0.78% | 0.98% | 1.19% | 1.01% | 1.09% | 1.16% | 1.49% |
Frequently Asked Questions
IWC and IBIT have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.21%) compared to IWC (4.63%). In terms of maximum drawdown, IWC dropped -64.61% vs IBIT's -53.30%.
On 1-year performance, IWC leads with 48.46% vs -44.50% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IWC has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWC has performed better with a 48.46% return vs -44.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.60% for IWC.
IWC has the higher dividend yield at 1.01%, compared with 0.00% for IBIT.
IWC is categorized as Small Cap Blend Equities, while IBIT is Cryptocurrency. IWC tracks Russell Microcap Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.60% for IWC and 0.25% for IBIT.
IWC currently has the higher Sharpe Ratio (1.89 vs -1.04), 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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