SMLF vs. IBIT
SMLF (iShares MSCI USA Small-Cap Multifactor ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SMLF is a Small Cap Blend Equities fund tracking the MSCI USA Small Cap Diversified Multi-Factor, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SMLF returned 32.00% vs -39.82% for IBIT. At a 0.44 correlation, their price movements are largely independent. SMLF charges 0.30%/yr vs 0.25%/yr for IBIT.
Performance
SMLF vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SMLF achieves a 16.28% return, which is significantly higher than IBIT's -28.88% return.
SMLF
- 1D
- -0.85%
- 1M
- 3.41%
- YTD
- 16.28%
- 6M
- 14.19%
- 1Y
- 32.00%
- 3Y*
- 20.44%
- 5Y*
- 11.09%
- 10Y*
- 12.68%
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMLF vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 16.28% | 12.30% | 18.40% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between SMLF and IBIT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.44 |
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Return for Risk
SMLF vs. IBIT — Risk / Return Rank
SMLF
IBIT
SMLF vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Multifactor ETF (SMLF) 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.
| SMLF | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.73 | ||
| Sortino ratioReturn per unit of downside risk | +3.82 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.86 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.69 | -0.77 | +4.45 |
| Martin ratioReturn relative to average drawdown | 12.66 | -1.30 | +13.96 |
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Drawdowns
SMLF vs. IBIT - Drawdown Comparison
The maximum SMLF drawdown since its inception was -41.89%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SMLF and IBIT.
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Drawdown Indicators
| SMLF | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.89% | -52.11% | +10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -8.71% | -52.11% | +43.40% |
Max Drawdown (3Y)Largest decline over 3 years | -26.28% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.89% | — | — |
Current DrawdownCurrent decline from peak | -0.85% | -50.47% | +49.62% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -16.85% | +10.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 30.58% | -28.05% |
Volatility
SMLF vs. IBIT - Volatility Comparison
The current volatility for iShares MSCI USA Small-Cap Multifactor ETF (SMLF) is 5.35%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. This indicates that SMLF 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.
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Volatility by Period
| SMLF | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 13.18% | -7.83% |
Volatility (6M)Calculated over the trailing 6-month period | 12.92% | 34.64% | -21.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 44.31% | -26.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.12% | 50.22% | -29.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.81% | 50.22% | -28.41% |
SMLF vs. IBIT - Expense Ratio Comparison
SMLF has a 0.30% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
SMLF vs. IBIT - Dividend Comparison
SMLF's dividend yield for the trailing twelve months is around 1.02%, 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% |
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.02% | 1.14% | 1.33% | 1.13% | 1.23% | 1.07% | 1.33% | 1.39% | 1.17% | 0.93% | 0.78% | 0.79% |
Frequently Asked Questions
SMLF and IBIT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.18%) compared to SMLF (5.35%). In terms of maximum drawdown, SMLF dropped -41.89% vs IBIT's -52.11%.
On 1-year performance, SMLF leads with 32.00% vs -39.82% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, SMLF has been the lower-risk option at 5.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SMLF has performed better with a 32.00% return vs -39.82%. 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 0.30% for SMLF.
SMLF has the higher dividend yield at 1.02%, compared with 0.00% for IBIT.
SMLF is categorized as Small Cap Blend Equities, while IBIT is Cryptocurrency. SMLF tracks MSCI USA Small Cap Diversified Multi-Factor, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.30% for SMLF and 0.25% for IBIT.
SMLF currently has the higher Sharpe Ratio (1.83 vs -0.90), 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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