SATO vs. IBIT

Last updated Jul 14, 2026

SATO (Invesco Alerian Galaxy Crypto Economy ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds - SATO tracks the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index while IBIT tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SATO returned -22.30% vs -47.60% for IBIT. A 0.77 correlation means they provide meaningful diversification when combined. SATO charges 0.60%/yr vs 0.25%/yr for IBIT.

Performance

SATO vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Alerian Galaxy Crypto Economy ETF (SATO) 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, SATO achieves a -11.75% return, which is significantly higher than IBIT's -29.06% return.

SATO

• 1D: -3.36%
• 1M: -10.88%
• 6M: -23.63%
• YTD: -11.75%
• 1Y: -22.30%
• 3Y*: 20.64%
• 5Y*: —
• 10Y*: —

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)

SATO vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SATO Invesco Alerian Galaxy Crypto Economy ETF	-11.75%	2.26%	59.59%
IBIT iShares Bitcoin Trust ETF	-29.06%	-6.41%	89.87%

Correlation

The correlation between SATO and IBIT is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.77

The correlation between SATO and IBIT has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

Return for Risk

SATO vs. IBIT — Risk / Return Rank

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

SATO

SATO Risk / Return Rank: 6
SATO Sharpe Ratio Rank: 5
SATO Sortino Ratio Rank: 6
SATO Omega Ratio Rank: 6
SATO Calmar Ratio Rank: 6
SATO Martin Ratio Rank: 6

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.

SATO vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Alerian Galaxy Crypto Economy ETF (SATO) 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.

	SATO	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	-1.08	+0.65
Sortino ratio: Return per unit of downside risk	-0.32	-1.65	+1.33
Omega ratio: Gain probability vs. loss probability	0.96	0.82	+0.15
Calmar ratio: Return relative to maximum drawdown	-0.42	-0.90	+0.48
Martin ratio: Return relative to average drawdown	-0.70	-1.46	+0.76

SATO vs. IBIT - Sharpe Ratio Comparison

The current SATO Sharpe Ratio is -0.43, which is higher than the IBIT Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of SATO 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

SATO vs. IBIT - Drawdown Comparison

The maximum SATO drawdown since its inception was -88.00%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for SATO and IBIT.

Drawdown Indicators

	SATO	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-88.00%	-53.30%	-34.70%
Max Drawdown (1Y) Largest decline over 1 year	-53.49%	-53.30%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-53.49%	—	—
Current Drawdown Current decline from peak	-45.92%	-50.60%	+4.68%
Average Drawdown Average peak-to-trough decline	-50.75%	-17.56%	-33.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.01%	32.72%	-0.71%

Volatility

SATO vs. IBIT - Volatility Comparison

Invesco Alerian Galaxy Crypto Economy ETF (SATO) has a higher volatility of 12.67% compared to iShares Bitcoin Trust ETF (IBIT) at 11.51%. This indicates that SATO's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SATO	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.67%	11.51%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	38.10%	34.79%	+3.31%
Volatility (1Y) Calculated over the trailing 1-year period	52.01%	44.38%	+7.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.99%	49.97%	+13.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.99%	49.97%	+13.02%

SATO vs. IBIT - Expense Ratio Comparison

SATO has a 0.60% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

SATO vs. IBIT - Dividend Comparison

SATO's dividend yield for the trailing twelve months is around 7.60%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SATO Invesco Alerian Galaxy Crypto Economy ETF	7.60%	9.50%	15.03%	2.21%	8.97%	0.73%

Frequently Asked Questions

Can I hold both SATO and IBIT in my portfolio?

SATO and IBIT have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SATO or IBIT?

SATO has higher volatility (12.67%) compared to IBIT (11.51%). In terms of maximum drawdown, SATO dropped -88.00% vs IBIT's -53.30%.

Which ETF is better, SATO or IBIT?

On 1-year performance, SATO leads with -22.30% vs -47.60% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 11.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SATO or IBIT?

Over the 1-year period, SATO has performed better with a -22.30% return vs -47.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SATO or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.60% for SATO.

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

SATO has the higher dividend yield at 7.60%, compared with 0.00% for IBIT.

What is the main difference between SATO and IBIT?

SATO tracks Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs 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: 0.60% for SATO and 0.25% for IBIT.

Which has better risk-adjusted returns?

SATO currently has the higher Sharpe Ratio (-0.43 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.