PXH vs. IBIT
PXH (Invesco FTSE RAFI Emerging Markets ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - PXH is a Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets 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, PXH returned 30.72% vs -39.67% for IBIT. At a 0.32 correlation, their price movements are largely independent. PXH charges 0.50%/yr vs 0.25%/yr for IBIT.
Performance
PXH vs. IBIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PXH achieves a 12.73% return, which is significantly higher than IBIT's -27.41% return.
PXH
- 1D
- 0.66%
- 1M
- -0.72%
- YTD
- 12.73%
- 6M
- 14.41%
- 1Y
- 30.72%
- 3Y*
- 20.06%
- 5Y*
- 8.70%
- 10Y*
- 10.91%
IBIT
- 1D
- -0.03%
- 1M
- -21.94%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PXH vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PXH Invesco FTSE RAFI Emerging Markets ETF | 12.73% | 31.44% | 15.66% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between PXH and IBIT is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.32 |
The correlation between PXH and IBIT shifts across timeframes, from 0.32 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PXH vs. IBIT — Risk / Return Rank
PXH
IBIT
PXH vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Emerging Markets ETF (PXH) 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.
| PXH | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.76 | ||
| Sortino ratioReturn per unit of downside risk | +3.80 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.85 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | -0.78 | +3.63 |
| Martin ratioReturn relative to average drawdown | 10.21 | -1.37 | +11.58 |
Loading charts...
Drawdowns
PXH vs. IBIT - Drawdown Comparison
The maximum PXH drawdown since its inception was -63.63%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for PXH and IBIT.
Loading charts...
Drawdown Indicators
| PXH | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.63% | -52.11% | -11.52% |
Max Drawdown (1Y)Largest decline over 1 year | -10.24% | -52.11% | +41.87% |
Max Drawdown (3Y)Largest decline over 3 years | -17.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.42% | — | — |
Current DrawdownCurrent decline from peak | -3.27% | -49.45% | +46.18% |
Average DrawdownAverage peak-to-trough decline | -16.84% | -16.53% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 29.64% | -26.79% |
Volatility
PXH vs. IBIT - Volatility Comparison
The current volatility for Invesco FTSE RAFI Emerging Markets ETF (PXH) is 6.41%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that PXH 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.
Loading charts...
Volatility by Period
| PXH | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.41% | 12.07% | -5.66% |
Volatility (6M)Calculated over the trailing 6-month period | 13.09% | 34.45% | -21.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.90% | 44.10% | -28.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.87% | 50.26% | -32.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.06% | 50.26% | -30.20% |
PXH vs. IBIT - Expense Ratio Comparison
PXH has a 0.50% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
PXH vs. IBIT - Dividend Comparison
PXH's dividend yield for the trailing twelve months is around 3.49%, 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% |
PXH Invesco FTSE RAFI Emerging Markets ETF | 3.49% | 4.02% | 4.43% | 4.84% | 5.33% | 4.69% | 2.79% | 3.28% | 3.30% | 2.74% | 1.97% | 3.44% |
Frequently Asked Questions
PXH and IBIT have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to PXH (6.41%). In terms of maximum drawdown, PXH dropped -63.63% vs IBIT's -52.11%.
On 1-year performance, PXH leads with 30.72% vs -39.67% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, PXH has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PXH has performed better with a 30.72% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.50% for PXH.
PXH has the higher dividend yield at 3.49%, compared with 0.00% for IBIT.
PXH is categorized as Emerging Markets Equities, while IBIT is Cryptocurrency. PXH tracks FTSE RAFI Emerging Markets Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for PXH and 0.25% for IBIT.
PXH currently has the higher Sharpe Ratio (1.84 vs -0.92), 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.
Find the right allocation for PXH and IBIT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer