PICK vs. IBIT

Last updated Jul 14, 2026

PICK (iShares MSCI Global Metals & Mining Producers ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - PICK is a Metals fund tracking the MSCI ACWI Select Metals & Mining Producers ex Gold and Silver Investable Market 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, PICK returned 46.35% vs -47.60% for IBIT. At a 0.32 correlation, their price movements are largely independent. PICK charges 0.39%/yr vs 0.25%/yr for IBIT.

Performance

PICK vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Metals & Mining Producers ETF (PICK) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PICK achieves a 11.09% return, which is significantly higher than IBIT's -29.06% return.

PICK

• 1D: -1.33%
• 1M: -12.36%
• 6M: 2.60%
• YTD: 11.09%
• 1Y: 46.35%
• 3Y*: 13.59%
• 5Y*: 9.06%
• 10Y*: 14.28%

IBIT

• 1D: -2.79%
• 1M: -2.28%
• 6M: -32.10%
• YTD: -29.06%
• 1Y: -47.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PICK vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PICK iShares MSCI Global Metals & Mining Producers ETF	11.09%	51.89%	-12.06%
IBIT iShares Bitcoin Trust ETF	-29.06%	-6.41%	89.87%

Correlation

The correlation between PICK and IBIT is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.32

Return for Risk

PICK vs. IBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PICK

PICK Risk / Return Rank: 56
PICK Sharpe Ratio Rank: 58
PICK Sortino Ratio Rank: 51
PICK Omega Ratio Rank: 56
PICK Calmar Ratio Rank: 60
PICK Martin Ratio Rank: 54

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 1
IBIT Calmar Ratio Rank: 1
IBIT Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PICK vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Metals & Mining Producers ETF (PICK) 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.

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.

	PICK	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.55	-1.08	+2.63
Sortino ratio: Return per unit of downside risk	2.03	-1.65	+3.69
Omega ratio: Gain probability vs. loss probability	1.28	0.82	+0.46
Calmar ratio: Return relative to maximum drawdown	2.38	-0.90	+3.28
Martin ratio: Return relative to average drawdown	7.34	-1.46	+8.80

PICK vs. IBIT - Sharpe Ratio Comparison

The current PICK Sharpe Ratio is 1.55, which is higher than the IBIT Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of PICK and IBIT, 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

PICK vs. IBIT - Drawdown Comparison

The maximum PICK drawdown since its inception was -68.87%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for PICK and IBIT.

Drawdown Indicators

	PICK	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-68.87%	-53.30%	-15.57%
Max Drawdown (1Y) Largest decline over 1 year	-19.54%	-53.30%	+33.76%
Max Drawdown (3Y) Largest decline over 3 years	-32.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-36.37%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.72%	—	—
Current Drawdown Current decline from peak	-17.26%	-50.60%	+33.34%
Average Drawdown Average peak-to-trough decline	-24.03%	-17.56%	-6.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.33%	32.72%	-26.39%

Volatility

PICK vs. IBIT - Volatility Comparison

The current volatility for iShares MSCI Global Metals & Mining Producers ETF (PICK) is 10.14%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 11.51%. This indicates that PICK 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.

Volatility by Period

	PICK	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.14%	11.51%	-1.37%
Volatility (6M) Calculated over the trailing 6-month period	26.50%	34.79%	-8.29%
Volatility (1Y) Calculated over the trailing 1-year period	30.12%	44.38%	-14.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.15%	49.97%	-21.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.26%	49.97%	-21.71%

PICK vs. IBIT - Expense Ratio Comparison

PICK has a 0.39% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

PICK vs. IBIT - Dividend Comparison

PICK's dividend yield for the trailing twelve months is around 2.33%, 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%
PICK iShares MSCI Global Metals & Mining Producers ETF	2.33%	2.88%	3.26%	4.19%	6.93%	5.89%	2.27%	5.51%	4.77%	2.41%	1.15%	15.77%

Frequently Asked Questions

Can I hold both PICK and IBIT in my portfolio?

PICK and IBIT have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PICK or IBIT?

IBIT has higher volatility (11.51%) compared to PICK (10.14%). In terms of maximum drawdown, PICK dropped -68.87% vs IBIT's -53.30%.

Which ETF is better, PICK or IBIT?

On 1-year performance, PICK leads with 46.35% vs -47.60% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, PICK has been the lower-risk option at 10.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PICK or IBIT?

Over the 1-year period, PICK has performed better with a 46.35% return vs -47.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PICK or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.39% for PICK.

Which ETF pays a higher dividend yield, PICK or IBIT?

PICK has the higher dividend yield at 2.33%, compared with 0.00% for IBIT.

What is the main difference between PICK and IBIT?

PICK is categorized as Metals, while IBIT is Cryptocurrency. PICK tracks MSCI ACWI Select Metals & Mining Producers ex Gold and Silver Investable Market Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.39% for PICK and 0.25% for IBIT.

Which has better risk-adjusted returns?

PICK currently has the higher Sharpe Ratio (1.55 vs -1.08), 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.