IWP vs. IBIT
IWP (iShares Russell Mid-Cap Growth ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth 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, IWP returned 5.63% vs -38.74% for IBIT. At a 0.42 correlation, their price movements are largely independent. IWP charges 0.23%/yr vs 0.25%/yr for IBIT.
Performance
IWP vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IWP achieves a 3.75% return, which is significantly higher than IBIT's -25.48% return.
IWP
- 1D
- -1.05%
- 1M
- 4.11%
- YTD
- 3.75%
- 6M
- 2.84%
- 1Y
- 5.63%
- 3Y*
- 15.88%
- 5Y*
- 6.59%
- 10Y*
- 12.40%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWP vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 3.75% | 8.45% | 23.25% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between IWP 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 Jan 12, 2024 | 0.42 |
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Return for Risk
IWP vs. IBIT — Risk / Return Rank
IWP
IBIT
IWP vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Growth ETF (IWP) 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.
| IWP | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.23 | ||
| Sortino ratioReturn per unit of downside risk | +1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.86 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | -0.79 | +1.17 |
| Martin ratioReturn relative to average drawdown | 1.12 | -1.36 | +2.48 |
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
| IWP | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | -0.89 | +1.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.30 | +0.13 |
Drawdowns
IWP vs. IBIT - Drawdown Comparison
The maximum IWP drawdown since its inception was -56.92%, which is greater than IBIT's maximum drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for IWP and IBIT.
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Drawdown Indicators
| IWP | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -49.36% | -7.56% |
Max Drawdown (1Y)Largest decline over 1 year | -14.79% | -49.36% | +34.57% |
Max Drawdown (3Y)Largest decline over 3 years | -25.20% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -38.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | — | — |
Current DrawdownCurrent decline from peak | -2.10% | -48.10% | +46.00% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -16.02% | +6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 28.44% | -23.38% |
Volatility
IWP vs. IBIT - Volatility Comparison
The current volatility for iShares Russell Mid-Cap Growth ETF (IWP) is 3.73%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that IWP 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
| IWP | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 9.50% | -5.77% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 34.44% | -21.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.50% | 43.73% | -27.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.31% | 50.19% | -27.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.67% | 50.19% | -28.52% |
IWP vs. IBIT - Expense Ratio Comparison
IWP has a 0.23% 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
IWP vs. IBIT - Dividend Comparison
IWP's dividend yield for the trailing twelve months is around 0.33%, 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% |
IWP iShares Russell Mid-Cap Growth ETF | 0.33% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
Frequently Asked Questions
IWP 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 (9.50%) compared to IWP (3.73%). In terms of maximum drawdown, IWP dropped -56.92% vs IBIT's -49.36%.
On 1-year performance, IWP leads with 5.63% vs -38.74% for IBIT. On fees, IWP is cheaper at 0.23% per year. On volatility, IWP has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWP has performed better with a 5.63% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWP is cheaper with a 0.23% expense ratio, compared with 0.25% for IBIT.
IWP has the higher dividend yield at 0.33%, compared with 0.00% for IBIT.
IWP is categorized as Mid Cap Growth Equities, while IBIT is Cryptocurrency. IWP tracks Russell Midcap Growth Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.23% for IWP and 0.25% for IBIT.
IWP currently has the higher Sharpe Ratio (0.34 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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