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LEGR vs. GBTC
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between LEGR and GBTC is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

LEGR vs. GBTC

Last updated Jun 2, 2025

Compare and contrast key facts about First Trust Indxx Innovative Transaction & Process ETF (LEGR) and Grayscale Bitcoin Trust (BTC) (GBTC).

LEGR is a passively managed fund by First Trust that tracks the performance of the Indxx Blockchain Index. It was launched on Jan 24, 2018.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: LEGR or GBTC.

Performance

LEGR vs. GBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Innovative Transaction & Process ETF (LEGR) and Grayscale Bitcoin Trust (BTC) (GBTC). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

LEGR:

1.33

GBTC:

0.98

Sortino Ratio

LEGR:

1.72

GBTC:

1.62

Omega Ratio

LEGR:

1.24

GBTC:

1.19

Calmar Ratio

LEGR:

1.45

GBTC:

1.83

Martin Ratio

LEGR:

7.30

GBTC:

4.06

Ulcer Index

LEGR:

2.83%

GBTC:

12.84%

Daily Std Dev

LEGR:

17.10%

GBTC:

52.84%

Max Drawdown

LEGR:

-36.12%

GBTC:

-89.91%

Current Drawdown

LEGR:

-1.40%

GBTC:

-5.98%

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with LEGR at 11.42% and GBTC at 11.42%.

LEGR

YTD

11.42%

1M

4.07%

6M

10.09%

1Y

21.92%

3Y*

14.18%

5Y*

15.16%

10Y*

N/A

GBTC

YTD

11.42%

1M

7.73%

6M

6.98%

1Y

53.90%

3Y*

65.13%

5Y*

53.39%

10Y*

76.27%

*Annualized

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First Trust Indxx Innovative Transaction & Process ETF

Grayscale Bitcoin Trust (BTC)

Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

LEGR vs. GBTC — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LEGR
The Risk-Adjusted Performance Rank of LEGR is 8686
Overall Rank
The Sharpe Ratio Rank of LEGR is 8686
Sharpe Ratio Rank
The Sortino Ratio Rank of LEGR is 8484
Sortino Ratio Rank
The Omega Ratio Rank of LEGR is 8484
Omega Ratio Rank
The Calmar Ratio Rank of LEGR is 8787
Calmar Ratio Rank
The Martin Ratio Rank of LEGR is 8989
Martin Ratio Rank
GBTC
The Risk-Adjusted Performance Rank of GBTC is 8282
Overall Rank
The Sharpe Ratio Rank of GBTC is 8181
Sharpe Ratio Rank
The Sortino Ratio Rank of GBTC is 7979
Sortino Ratio Rank
The Omega Ratio Rank of GBTC is 7575
Omega Ratio Rank
The Calmar Ratio Rank of GBTC is 9292
Calmar Ratio Rank
The Martin Ratio Rank of GBTC is 8383
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

LEGR vs. GBTC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Innovative Transaction & Process ETF (LEGR) and Grayscale Bitcoin Trust (BTC) (GBTC). 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.

The current LEGR Sharpe Ratio is 1.33, which is higher than the GBTC Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of LEGR and GBTC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

LEGR vs. GBTC - Dividend Comparison

LEGR's dividend yield for the trailing twelve months is around 2.22%, while GBTC has not paid dividends to shareholders.

TTM20242023202220212020201920182017
LEGR
First Trust Indxx Innovative Transaction & Process ETF		2.22%2.40%2.56%2.64%1.80%0.95%2.04%1.30%0.00%
GBTC
Grayscale Bitcoin Trust (BTC)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.26%

Drawdowns

LEGR vs. GBTC - Drawdown Comparison

The maximum LEGR drawdown since its inception was -36.12%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for LEGR and GBTC.

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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

LEGR vs. GBTC - Volatility Comparison

The current volatility for First Trust Indxx Innovative Transaction & Process ETF (LEGR) is 3.86%, while Grayscale Bitcoin Trust (BTC) (GBTC) has a volatility of 9.39%. This indicates that LEGR experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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