SMMD vs. IBIT

Last updated Jun 4, 2026

SMMD (iShares Russell 2500 ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SMMD is a Small Cap Growth Equities fund tracking the Russell 2500 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, SMMD returned 36.03% vs -38.74% for IBIT. At a 0.45 correlation, their price movements are largely independent. SMMD charges 0.15%/yr vs 0.25%/yr for IBIT.

Performance

SMMD vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2500 ETF (SMMD) 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, SMMD achieves a 18.37% return, which is significantly higher than IBIT's -25.48% return.

SMMD

• 1D: -0.63%
• 1M: 4.41%
• YTD: 18.37%
• 6M: 18.20%
• 1Y: 36.03%
• 3Y*: 18.53%
• 5Y*: 7.64%
• 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)

SMMD vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMMD iShares Russell 2500 ETF	18.37%	11.72%	14.84%
IBIT iShares Bitcoin Trust ETF	-25.48%	-6.41%	99.21%

Correlation

The correlation between SMMD and IBIT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.45

Return for Risk

SMMD vs. IBIT — Risk / Return Rank

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

SMMD

SMMD Risk / Return Rank: 66
SMMD Sharpe Ratio Rank: 61
SMMD Sortino Ratio Rank: 63
SMMD Omega Ratio Rank: 58
SMMD Calmar Ratio Rank: 74
SMMD Martin Ratio Rank: 75

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.

SMMD vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2500 ETF (SMMD) 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.

	SMMD	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.11	-0.89	+3.00
Sortino ratio: Return per unit of downside risk	2.96	-1.23	+4.18
Omega ratio: Gain probability vs. loss probability	1.36	0.86	+0.49
Calmar ratio: Return relative to maximum drawdown	3.75	-0.79	+4.54
Martin ratio: Return relative to average drawdown	14.29	-1.36	+15.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMMD vs. IBIT - Sharpe Ratio Comparison

The current SMMD Sharpe Ratio is 2.11, which is higher than the IBIT Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of SMMD 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

	SMMD	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	-0.89	+3.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.30	+0.20

Drawdowns

SMMD vs. IBIT - Drawdown Comparison

The maximum SMMD drawdown since its inception was -41.06%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for SMMD and IBIT.

Drawdown Indicators

	SMMD	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-41.06%	-49.36%	+8.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-49.36%	+39.70%
Max Drawdown (3Y) Largest decline over 3 years	-25.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.26%	—	—
Current Drawdown Current decline from peak	-0.63%	-48.10%	+47.47%
Average Drawdown Average peak-to-trough decline	-8.37%	-16.02%	+7.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	28.44%	-25.91%

Volatility

SMMD vs. IBIT - Volatility Comparison

The current volatility for iShares Russell 2500 ETF (SMMD) is 5.17%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that SMMD 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

	SMMD	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	9.50%	-4.33%
Volatility (6M) Calculated over the trailing 6-month period	12.58%	34.44%	-21.86%
Volatility (1Y) Calculated over the trailing 1-year period	17.20%	43.73%	-26.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.82%	50.19%	-29.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.37%	50.19%	-27.82%

SMMD vs. IBIT - Expense Ratio Comparison

SMMD has a 0.15% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SMMD vs. IBIT - Dividend Comparison

SMMD's dividend yield for the trailing twelve months is around 1.05%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SMMD iShares Russell 2500 ETF	1.05%	1.28%	1.27%	1.44%	1.79%	1.12%	1.31%	1.50%	2.45%	0.68%

Frequently Asked Questions

Can I hold both SMMD and IBIT in my portfolio?

SMMD and IBIT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMMD or IBIT?

IBIT has higher volatility (9.50%) compared to SMMD (5.17%). In terms of maximum drawdown, SMMD dropped -41.06% vs IBIT's -49.36%.

Which ETF is better, SMMD or IBIT?

On 1-year performance, SMMD leads with 36.03% vs -38.74% for IBIT. On fees, SMMD is cheaper at 0.15% per year. On volatility, SMMD has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMMD or IBIT?

Over the 1-year period, SMMD has performed better with a 36.03% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMMD or IBIT?

SMMD is cheaper with a 0.15% expense ratio, compared with 0.25% for IBIT.

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

SMMD has the higher dividend yield at 1.05%, compared with 0.00% for IBIT.

What is the main difference between SMMD and IBIT?

SMMD is categorized as Small Cap Growth Equities, while IBIT is Cryptocurrency. SMMD tracks Russell 2500 Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.15% for SMMD and 0.25% for IBIT.

Which has better risk-adjusted returns?

SMMD currently has the higher Sharpe Ratio (2.11 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.