MELI vs. BTCO
MELI (MercadoLibre, Inc.) is a stock, while BTCO (Invesco Galaxy Bitcoin ETF) is Cryptocurrency fund tracking the Lukka Prime Reference Bitcoin Rate. Over the past year, MELI returned -24.08% vs -44.68% for BTCO. At a 0.18 correlation, their price movements are largely independent.
Performance
MELI vs. BTCO - Performance Comparison
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Returns By Period
In the year-to-date period, MELI achieves a -9.03% return, which is significantly higher than BTCO's -25.69% return.
MELI
- 1D
- 1.02%
- 1M
- 12.06%
- 6M
- -11.69%
- YTD
- -9.03%
- 1Y
- -24.08%
- 3Y*
- 14.49%
- 5Y*
- 3.40%
- 10Y*
- 28.13%
- ALL TIME*
- 26.51%
BTCO
- 1D
- 1.54%
- 1M
- 3.42%
- 6M
- -31.95%
- YTD
- -25.69%
- 1Y
- -44.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.50%
MELI vs. BTCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MELI MercadoLibre, Inc. | -9.03% | 18.46% | 6.40% |
BTCO Invesco Galaxy Bitcoin ETF | -25.69% | -6.58% | 93.87% |
Correlation
The correlation between MELI and BTCO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.18 |
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Return for Risk
MELI vs. BTCO — Risk / Return Rank
MELI
BTCO
MELI vs. BTCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MercadoLibre, Inc. (MELI) and Invesco Galaxy Bitcoin ETF (BTCO). 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.
| MELI | BTCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.83 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | -0.84 | +0.21 |
| Martin ratioReturn relative to average drawdown | -1.06 | -1.34 | +0.28 |
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Drawdowns
MELI vs. BTCO - Drawdown Comparison
The maximum MELI drawdown since its inception was -89.49%, which is greater than BTCO's maximum drawdown of -53.33%. Use the drawdown chart below to compare losses from any high point for MELI and BTCO.
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Drawdown Indicators
| MELI | BTCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.49% | -53.33% | -36.16% |
Max Drawdown (1Y)Largest decline over 1 year | -38.40% | -53.33% | +14.93% |
Max Drawdown (3Y)Largest decline over 3 years | -40.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -68.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -69.12% | — | — |
Current DrawdownCurrent decline from peak | -29.89% | -48.23% | +18.34% |
Average DrawdownAverage peak-to-trough decline | -23.63% | -17.70% | -5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.69% | 33.39% | -10.70% |
Volatility
MELI vs. BTCO - Volatility Comparison
The current volatility for MercadoLibre, Inc. (MELI) is 8.75%, while Invesco Galaxy Bitcoin ETF (BTCO) has a volatility of 10.57%. This indicates that MELI experiences smaller price fluctuations and is considered to be less risky than BTCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MELI | BTCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.75% | 10.57% | -1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 29.45% | 34.51% | -5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.82% | 44.25% | -4.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.77% | 49.38% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.89% | 49.38% | -0.49% |
Dividends
MELI vs. BTCO - Dividend Comparison
Neither MELI nor BTCO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTCO Invesco Galaxy Bitcoin 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% |
MELI MercadoLibre, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.38% | 0.36% |
Frequently Asked Questions
MELI and BTCO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTCO has higher volatility (10.57%) compared to MELI (8.75%). In terms of maximum drawdown, MELI dropped -89.49% vs BTCO's -53.33%.
MELI currently has the higher Sharpe Ratio (-0.61 vs -1.01), 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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