IWL vs. IBIT
IWL (iShares Russell Top 200 ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IWL is a Large Cap Growth Equities fund tracking the Russell Top 200 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, IWL returned 28.50% vs -38.74% for IBIT. At a 0.39 correlation, their price movements are largely independent. IWL charges 0.15%/yr vs 0.25%/yr for IBIT.
Performance
IWL vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IWL achieves a 10.03% return, which is significantly higher than IBIT's -25.48% return.
IWL
- 1D
- -0.83%
- 1M
- 5.18%
- YTD
- 10.03%
- 6M
- 10.03%
- 1Y
- 28.50%
- 3Y*
- 23.42%
- 5Y*
- 14.59%
- 10Y*
- 16.38%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWL vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWL iShares Russell Top 200 ETF | 10.03% | 19.09% | 26.43% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between IWL and IBIT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.39 |
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Return for Risk
IWL vs. IBIT — Risk / Return Rank
IWL
IBIT
IWL vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 ETF (IWL) 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.
| IWL | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.24 | ||
| Sortino ratioReturn per unit of downside risk | +4.42 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.86 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | -0.79 | +3.70 |
| Martin ratioReturn relative to average drawdown | 12.92 | -1.36 | +14.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWL | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | -0.89 | +3.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.30 | +0.59 |
Drawdowns
IWL vs. IBIT - Drawdown Comparison
The maximum IWL drawdown since its inception was -32.71%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for IWL and IBIT.
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Drawdown Indicators
| IWL | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.71% | -49.36% | +16.65% |
Max Drawdown (1Y)Largest decline over 1 year | -9.83% | -49.36% | +39.53% |
Max Drawdown (3Y)Largest decline over 3 years | -19.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | — | — |
Current DrawdownCurrent decline from peak | -0.83% | -48.10% | +47.27% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -16.02% | +12.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 28.44% | -26.23% |
Volatility
IWL vs. IBIT - Volatility Comparison
The current volatility for iShares Russell Top 200 ETF (IWL) is 2.98%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that IWL 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
| IWL | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.98% | 9.50% | -6.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.15% | 34.44% | -25.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.19% | 43.73% | -31.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.17% | 50.19% | -33.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 50.19% | -32.11% |
IWL vs. IBIT - Expense Ratio Comparison
IWL has a 0.15% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IWL vs. IBIT - Dividend Comparison
IWL's dividend yield for the trailing twelve months is around 0.82%, 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% |
IWL iShares Russell Top 200 ETF | 0.82% | 0.90% | 1.04% | 1.30% | 1.54% | 1.12% | 1.30% | 1.96% | 1.93% | 1.69% | 1.96% | 2.14% |
Frequently Asked Questions
IWL and IBIT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to IWL (2.98%). In terms of maximum drawdown, IWL dropped -32.71% vs IBIT's -49.36%.
On 1-year performance, IWL leads with 28.50% vs -38.74% for IBIT. On fees, IWL is cheaper at 0.15% per year. On volatility, IWL has been the lower-risk option at 2.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWL has performed better with a 28.50% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWL is cheaper with a 0.15% expense ratio, compared with 0.25% for IBIT.
IWL has the higher dividend yield at 0.82%, compared with 0.00% for IBIT.
IWL is categorized as Large Cap Growth Equities, while IBIT is Cryptocurrency. IWL tracks Russell Top 200 Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.15% for IWL and 0.25% for IBIT.
IWL currently has the higher Sharpe Ratio (2.35 vs -0.89), 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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