OBTC vs. IBID

Last updated Aug 5, 2026

OBTC (Osprey Bitcoin Trust) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both exchange-traded funds - OBTC is a Cryptocurrency fund tracking the Bitcoin (BTC), while IBID is a Inflation-Protected Bonds fund tracking the ICE 2027 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, OBTC returned -36.66% vs 3.48% for IBID. Their 0.01 correlation means their historical movements had little consistent relationship. OBTC charges 0.49%/yr vs 0.10%/yr for IBID.

Performance

OBTC vs. IBID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Osprey Bitcoin Trust (OBTC) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OBTC achieves a -26.66% return, which is significantly lower than IBID's 2.35% return.

OBTC

• 1D: 0.95%
• 1M: 4.80%
• 6M: -16.02%
• YTD: -26.66%
• 1Y: -36.66%
• 3Y*: 42.55%
• 5Y*: 5.44%
• 10Y*: —
• ALL TIME*: -6.65%

IBID

• 1D: -0.04%
• 1M: 0.14%
• 6M: 2.01%
• YTD: 2.35%
• 1Y: 3.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBID iShares iBonds Oct 2027 Term TIPS ETF	$794.12K	$784.31K	$743.37K
OBTC Osprey Bitcoin Trust	$131.03K	$187.41K	$211.76K

OBTC vs. IBID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OBTC Osprey Bitcoin Trust	-26.66%	-1.87%	130.89%	70.27%
IBID iShares iBonds Oct 2027 Term TIPS ETF	2.35%	5.66%	4.71%	2.61%

Correlation

The correlation between OBTC and IBID is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.04
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	0.01

Return for Risk

OBTC vs. IBID — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OBTC

OBTC Risk / Return Rank: 3
OBTC Sharpe Ratio Rank: 3
OBTC Sortino Ratio Rank: 3
OBTC Omega Ratio Rank: 3
OBTC Calmar Ratio Rank: 3
OBTC Martin Ratio Rank: 3

IBID

IBID Risk / Return Rank: 96
IBID Sharpe Ratio Rank: 95
IBID Sortino Ratio Rank: 97
IBID Omega Ratio Rank: 96
IBID Calmar Ratio Rank: 96
IBID Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OBTC vs. IBID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osprey Bitcoin Trust (OBTC) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.

	OBTC	IBID	Difference
Sharpe ratio: Return per unit of total volatility	-0.82	3.03	-3.85
Sortino ratio: Return per unit of downside risk	-1.10	4.96	-6.05
Omega ratio: Gain probability vs. loss probability	0.88	1.64	-0.77
Calmar ratio: Return relative to maximum drawdown	-0.74	6.36	-7.10
Martin ratio: Return relative to average drawdown	-1.18	22.33	-23.50

OBTC vs. IBID - Sharpe Ratio Comparison

The current OBTC Sharpe Ratio is -0.82, which is lower than the IBID Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of OBTC and IBID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OBTC vs. IBID - Drawdown Comparison

The maximum OBTC drawdown since its inception was -94.50%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for OBTC and IBID.

Drawdown Indicators

	OBTC	IBID	Difference
Max Drawdown Largest peak-to-trough decline	-94.50%	-1.28%	-93.22%
Max Drawdown (1Y) Largest decline over 1 year	-49.62%	-0.55%	-49.07%
Max Drawdown (3Y) Largest decline over 3 years	-49.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-83.76%	—	—
Current Drawdown Current decline from peak	-63.37%	-0.14%	-63.23%
Average Drawdown Average peak-to-trough decline	-69.41%	-0.22%	-69.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.21%	0.16%	+31.05%

Volatility

OBTC vs. IBID - Volatility Comparison

Osprey Bitcoin Trust (OBTC) has a higher volatility of 8.17% compared to iShares iBonds Oct 2027 Term TIPS ETF (IBID) at 0.32%. This indicates that OBTC's price experiences larger fluctuations and is considered to be riskier than IBID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OBTC	IBID	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	0.32%	+7.85%
Volatility (6M) Calculated over the trailing 6-month period	33.39%	0.92%	+32.47%
Volatility (1Y) Calculated over the trailing 1-year period	44.92%	1.15%	+43.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.36%	2.21%	+54.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	76.18%	2.21%	+73.97%

OBTC vs. IBID - Expense Ratio Comparison

OBTC has a 0.49% expense ratio, which is higher than IBID's 0.10% expense ratio.

Dividends

OBTC vs. IBID - Dividend Comparison

OBTC has not paid dividends to shareholders, while IBID's dividend yield for the trailing twelve months is around 4.90%.

Position	TTM	2025	2024	2023
IBID iShares iBonds Oct 2027 Term TIPS ETF	4.90%	4.43%	4.24%	0.81%
OBTC Osprey Bitcoin Trust	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OBTC and IBID in my portfolio?

OBTC and IBID have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OBTC or IBID?

OBTC has higher volatility (8.17%) compared to IBID (0.32%). In terms of maximum drawdown, OBTC dropped -94.50% vs IBID's -1.28%.

Which ETF is better, OBTC or IBID?

On 1-year performance, IBID leads with 3.48% vs -36.66% for OBTC. On fees, IBID is cheaper at 0.10% per year. On volatility, IBID has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OBTC or IBID?

Over the 1-year period, IBID has performed better with a 3.48% return vs -36.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OBTC or IBID?

IBID is cheaper with a 0.10% expense ratio, compared with 0.49% for OBTC.

Which ETF pays a higher dividend yield, OBTC or IBID?

IBID has the higher dividend yield at 4.90%, compared with 0.00% for OBTC.

What is the main difference between OBTC and IBID?

OBTC is categorized as Cryptocurrency, while IBID is Inflation-Protected Bonds. OBTC tracks Bitcoin (BTC), while IBID tracks ICE 2027 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Osprey and iShares. Their fees differ too: 0.49% for OBTC and 0.10% for IBID.

Which has better risk-adjusted returns?

IBID currently has the higher Sharpe Ratio (3.03 vs -0.82), 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.