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 59.41% vs -37.79% for IBIT. At a 0.47 correlation, their price movements are largely independent. 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 23.36% return, which is significantly higher than IBIT's -26.49% return.
IWC
- 1D
- 0.82%
- 1M
- 4.00%
- YTD
- 23.36%
- 6M
- 19.51%
- 1Y
- 59.41%
- 3Y*
- 23.10%
- 5Y*
- 6.01%
- 10Y*
- 12.07%
IBIT
- 1D
- 2.47%
- 1M
- -15.04%
- YTD
- -26.49%
- 6M
- -27.13%
- 1Y
- -37.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWC vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWC iShares Micro-Cap ETF | 23.36% | 22.45% | 16.83% |
IBIT iShares Bitcoin Trust ETF | -26.49% | -6.41% | 89.87% |
Correlation
The correlation between IWC and IBIT is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.47 |
The correlation between IWC and IBIT has been stable across timeframes, ranging from 0.47 to 0.51 - 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 | +3.31 | ||
| Sortino ratioReturn per unit of downside risk | +4.30 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.87 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 4.80 | -0.73 | +5.53 |
| Martin ratioReturn relative to average drawdown | 15.64 | -1.24 | +16.88 |
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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 -52.11%. 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% | -52.11% | -12.50% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -52.11% | +39.68% |
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 | 0.00% | -48.80% | +48.80% |
Average DrawdownAverage peak-to-trough decline | -15.25% | -16.79% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 30.41% | -26.60% |
Volatility
IWC vs. IBIT - Volatility Comparison
The current volatility for iShares Micro-Cap ETF (IWC) is 8.66%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.00%. 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 | 8.66% | 13.00% | -4.34% |
Volatility (6M)Calculated over the trailing 6-month period | 18.16% | 34.53% | -16.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.39% | 44.29% | -19.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.58% | 50.21% | -25.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.52% | 50.21% | -25.69% |
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 0.98%, 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 | 0.98% | 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 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.00%) compared to IWC (8.66%). In terms of maximum drawdown, IWC dropped -64.61% vs IBIT's -52.11%.
On 1-year performance, IWC leads with 59.41% vs -37.79% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IWC has been the lower-risk option at 8.66%. 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 59.41% return vs -37.79%. 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 0.98%, 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 (2.45 vs -0.86), 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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