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 -35.06% vs -39.40% 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 -19.97% return, which is significantly higher than BTCO's -27.65% return.
MELI
- 1D
- 0.26%
- 1M
- -1.26%
- YTD
- -19.97%
- 6M
- -22.81%
- 1Y
- -35.06%
- 3Y*
- 10.08%
- 5Y*
- 4.13%
- 10Y*
- 28.28%
BTCO
- 1D
- 5.10%
- 1M
- -20.91%
- YTD
- -27.65%
- 6M
- -30.32%
- 1Y
- -39.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MELI vs. BTCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MELI MercadoLibre, Inc. | -19.97% | 18.46% | 6.83% |
BTCO Invesco Galaxy Bitcoin ETF | -27.65% | -6.58% | 100.54% |
Correlation
The correlation between MELI and BTCO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 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.
| MELI | BTCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.86 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.76 | -0.10 |
| Martin ratioReturn relative to average drawdown | -1.54 | -1.36 | -0.18 |
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
| MELI | BTCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | -0.90 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.27 | +0.17 |
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 -52.05%. 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% | -52.05% | -37.44% |
Max Drawdown (1Y)Largest decline over 1 year | -40.82% | -52.05% | +11.23% |
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 | -38.32% | -49.60% | +11.28% |
Average DrawdownAverage peak-to-trough decline | -23.58% | -16.12% | -7.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.74% | 28.93% | -6.19% |
Volatility
MELI vs. BTCO - Volatility Comparison
MercadoLibre, Inc. (MELI) has a higher volatility of 17.04% compared to Invesco Galaxy Bitcoin ETF (BTCO) at 11.78%. This indicates that MELI's price experiences larger fluctuations and is considered to be riskier 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 | 17.04% | 11.78% | +5.26% |
Volatility (6M)Calculated over the trailing 6-month period | 30.13% | 34.52% | -4.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.42% | 44.10% | -4.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.68% | 49.90% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.89% | 49.90% | -1.01% |
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 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MELI has higher volatility (17.04%) compared to BTCO (11.78%). In terms of maximum drawdown, MELI dropped -89.49% vs BTCO's -52.05%.
MELI currently has the higher Sharpe Ratio (-0.89 vs -0.90), 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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