QTUM vs. GBTC
QTUM (Defiance Quantum ETF) and GBTC (Grayscale Bitcoin Trust ETF) are both exchange-traded funds - QTUM is a Technology Equities fund tracking the BlueStar Machine Learning and Quantum Computing Index, while GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. Both are passively managed. Over the past 5 years, QTUM returned 24.56%/yr vs 7.01%/yr for GBTC. Their 0.36 correlation means their historical movements had little consistent relationship. QTUM charges 0.40%/yr vs 1.50%/yr for GBTC.
Performance
QTUM vs. GBTC - Performance Comparison
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Returns By Period
In the year-to-date period, QTUM achieves a 29.28% return, which is significantly higher than GBTC's -28.72% return.
QTUM
- 1D
- 0.67%
- 1M
- -11.92%
- 6M
- 22.33%
- YTD
- 29.28%
- 1Y
- 55.03%
- 3Y*
- 39.51%
- 5Y*
- 24.56%
- 10Y*
- —
- ALL TIME*
- 25.62%
GBTC
- 1D
- -2.85%
- 1M
- 4.80%
- 6M
- -25.46%
- YTD
- -28.72%
- 1Y
- -46.91%
- 3Y*
- 36.79%
- 5Y*
- 7.01%
- 10Y*
- 50.99%
- ALL TIME*
- 54.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $75.53M | $74.63M | $101.29M | |
| $54.21M | $61.13M | $111.15M |
QTUM vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QTUM Defiance Quantum ETF | 29.28% | 36.65% | 50.54% | 39.86% | -28.80% | 35.18% | 42.05% | 47.99% | -19.44% |
GBTC Grayscale Bitcoin Trust ETF | -28.72% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -58.26% |
Correlation
The correlation between QTUM and GBTC is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2018 | 0.36 |
The correlation between QTUM and GBTC shifts across timeframes, from 0.36 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QTUM vs. GBTC — Risk / Return Rank
QTUM
GBTC
QTUM vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Quantum ETF (QTUM) and Grayscale Bitcoin Trust ETF (GBTC). 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.
| QTUM | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.81 | ||
| Sortino ratioReturn per unit of downside risk | +3.91 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.82 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | -0.88 | +3.45 |
| Martin ratioReturn relative to average drawdown | 9.41 | -1.34 | +10.76 |
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Drawdowns
QTUM vs. GBTC - Drawdown Comparison
The maximum QTUM drawdown since its inception was -38.45%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for QTUM and GBTC.
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Drawdown Indicators
| QTUM | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.45% | -89.91% | +51.46% |
Max Drawdown (1Y)Largest decline over 1 year | -21.51% | -53.75% | +32.24% |
Max Drawdown (3Y)Largest decline over 3 years | -25.39% | -53.75% | +28.36% |
Max Drawdown (5Y)Largest decline over 5 years | -38.45% | -85.42% | +46.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.91% | — |
Current DrawdownCurrent decline from peak | -16.16% | -50.49% | +34.33% |
Average DrawdownAverage peak-to-trough decline | -8.27% | -43.51% | +35.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.87% | 34.92% | -29.05% |
Volatility
QTUM vs. GBTC - Volatility Comparison
Defiance Quantum ETF (QTUM) has a higher volatility of 11.38% compared to Grayscale Bitcoin Trust ETF (GBTC) at 9.06%. This indicates that QTUM's price experiences larger fluctuations and is considered to be riskier than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QTUM | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.38% | 9.06% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 26.47% | 33.68% | -7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.67% | 44.36% | -12.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.69% | 60.60% | -32.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.69% | 81.27% | -53.58% |
QTUM vs. GBTC - Expense Ratio Comparison
QTUM has a 0.40% expense ratio, which is lower than GBTC's 1.50% expense ratio.
Dividends
QTUM vs. GBTC - Dividend Comparison
QTUM's dividend yield for the trailing twelve months is around 0.83%, while GBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
QTUM Defiance Quantum ETF | 0.83% | 1.01% | 0.61% | 0.81% | 1.46% | 0.48% | 0.42% | 0.61% | 0.21% | 0.00% |
Frequently Asked Questions
QTUM and GBTC have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QTUM has higher volatility (11.38%) compared to GBTC (9.06%). In terms of maximum drawdown, QTUM dropped -38.45% vs GBTC's -89.91%.
On 5-year performance, QTUM leads with 24.56% vs 7.01% for GBTC. On fees, QTUM is cheaper at 0.40% per year. On volatility, GBTC has been the lower-risk option at 9.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTUM has performed better with a 24.56% return vs 7.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTUM is cheaper with a 0.40% expense ratio, compared with 1.50% for GBTC.
QTUM has the higher dividend yield at 0.83%, compared with 0.00% for GBTC.
QTUM is categorized as Technology Equities, while GBTC is Cryptocurrency. QTUM tracks BlueStar Machine Learning and Quantum Computing Index, while GBTC tracks CoinDesk Bitcoin Benchmark Rate Index. They also come from different issuers: Defiance and Grayscale. Their fees differ too: 0.40% for QTUM and 1.50% for GBTC.
QTUM currently has the higher Sharpe Ratio (1.75 vs -1.06), 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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