RSBA vs. IBIT

Last updated Jun 4, 2026

RSBA (Return Stacked Bonds & Merger Arbitrage ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - RSBA is a Leveraged Bonds fund actively managed by Return Stacked, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. RSBA is actively managed, while IBIT is passively managed. Over the past year, RSBA returned 4.65% vs -38.74% for IBIT. At a 0.06 correlation, their price movements are largely independent. RSBA charges 0.96%/yr vs 0.25%/yr for IBIT.

Performance

RSBA vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Return Stacked Bonds & Merger Arbitrage ETF (RSBA) 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, RSBA achieves a -0.30% return, which is significantly higher than IBIT's -25.48% return.

RSBA

• 1D: -0.24%
• 1M: 0.15%
• YTD: -0.30%
• 6M: -0.66%
• 1Y: 4.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -2.76%
• 1M: -18.50%
• YTD: -25.48%
• 6M: -29.84%
• 1Y: -38.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RSBA vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSBA Return Stacked Bonds & Merger Arbitrage ETF	-0.30%	7.73%	-0.04%
IBIT iShares Bitcoin Trust ETF	-25.48%	-6.41%	-7.22%

Correlation

The correlation between RSBA and IBIT is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.06

Return for Risk

RSBA vs. IBIT — Risk / Return Rank

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

RSBA

RSBA Risk / Return Rank: 30
RSBA Sharpe Ratio Rank: 28
RSBA Sortino Ratio Rank: 28
RSBA Omega Ratio Rank: 26
RSBA Calmar Ratio Rank: 35
RSBA Martin Ratio Rank: 32

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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.

RSBA vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Return Stacked Bonds & Merger Arbitrage ETF (RSBA) 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.

	RSBA	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.02	-0.89	+1.91
Sortino ratio: Return per unit of downside risk	1.52	-1.23	+2.75
Omega ratio: Gain probability vs. loss probability	1.18	0.86	+0.31
Calmar ratio: Return relative to maximum drawdown	1.70	-0.79	+2.49
Martin ratio: Return relative to average drawdown	4.70	-1.36	+6.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSBA vs. IBIT - Sharpe Ratio Comparison

The current RSBA Sharpe Ratio is 1.02, which is higher than the IBIT Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of RSBA 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.

Sharpe Ratios by Period

	RSBA	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	-0.89	+1.91
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.30	+0.70

Drawdowns

RSBA vs. IBIT - Drawdown Comparison

The maximum RSBA drawdown since its inception was -2.83%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for RSBA and IBIT.

Drawdown Indicators

	RSBA	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-49.36%	+46.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-49.36%	+46.62%
Current Drawdown Current decline from peak	-1.62%	-48.10%	+46.48%
Average Drawdown Average peak-to-trough decline	-0.81%	-16.02%	+15.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	28.44%	-27.45%

Volatility

RSBA vs. IBIT - Volatility Comparison

The current volatility for Return Stacked Bonds & Merger Arbitrage ETF (RSBA) is 1.37%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that RSBA 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

	RSBA	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	9.50%	-8.13%
Volatility (6M) Calculated over the trailing 6-month period	3.27%	34.44%	-31.17%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	43.73%	-39.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.08%	50.19%	-45.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.08%	50.19%	-45.11%

RSBA vs. IBIT - Expense Ratio Comparison

RSBA has a 0.96% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

RSBA vs. IBIT - Dividend Comparison

RSBA's dividend yield for the trailing twelve months is around 3.38%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%
RSBA Return Stacked Bonds & Merger Arbitrage ETF	3.38%	3.37%	0.01%

Frequently Asked Questions

Can I hold both RSBA and IBIT in my portfolio?

RSBA and IBIT have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSBA or IBIT?

IBIT has higher volatility (9.50%) compared to RSBA (1.37%). In terms of maximum drawdown, RSBA dropped -2.83% vs IBIT's -49.36%.

Which ETF is better, RSBA or IBIT?

On 1-year performance, RSBA leads with 4.65% vs -38.74% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, RSBA has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSBA or IBIT?

Over the 1-year period, RSBA has performed better with a 4.65% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSBA or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.96% for RSBA.

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

RSBA has the higher dividend yield at 3.38%, compared with 0.00% for IBIT.

What is the main difference between RSBA and IBIT?

RSBA is categorized as Leveraged Bonds, while IBIT is Cryptocurrency. They also come from different issuers: Return Stacked and iShares. Their fees differ too: 0.96% for RSBA and 0.25% for IBIT.

Which has better risk-adjusted returns?

RSBA currently has the higher Sharpe Ratio (1.02 vs -0.89), 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.