SPBC vs. BTC-USD
SPBC (Simplify US Equity PLUS GBTC ETF) is Diversified Portfolio fund actively managed by Simplify, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, SPBC returned 15.99%/yr vs 12.25%/yr for BTC-USD. At a 0.48 correlation, their price movements are largely independent.
Performance
SPBC vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SPBC achieves a 7.87% return, which is significantly higher than BTC-USD's -27.60% return.
SPBC
- 1D
- 0.15%
- 1M
- 2.18%
- YTD
- 7.87%
- 6M
- 7.36%
- 1Y
- 21.96%
- 3Y*
- 28.63%
- 5Y*
- 15.99%
- 10Y*
- —
BTC-USD
- 1D
- -1.08%
- 1M
- -21.71%
- YTD
- -27.60%
- 6M
- -31.22%
- 1Y
- -39.53%
- 3Y*
- 35.01%
- 5Y*
- 12.25%
- 10Y*
- 59.71%
SPBC vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPBC Simplify US Equity PLUS GBTC ETF | 7.87% | 16.83% | 37.32% | 48.04% | -28.00% | 14.87% |
BTC-USD Bitcoin | -27.60% | -6.27% | 120.76% | 155.82% | -64.23% | 20.46% |
Correlation
The correlation between SPBC and BTC-USD is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since May 26, 2021 | 0.48 |
The correlation between SPBC and BTC-USD has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.
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Return for Risk
SPBC vs. BTC-USD — Risk / Return Rank
SPBC
BTC-USD
SPBC vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS GBTC ETF (SPBC) and Bitcoin (BTC-USD). 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.
| SPBC | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.45 | ||
| Sortino ratioReturn per unit of downside risk | +3.41 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.87 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | -0.80 | +2.60 |
| Martin ratioReturn relative to average drawdown | 6.53 | -1.39 | +7.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPBC | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | -0.92 | +2.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 0.23 | +0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 1.13 | -0.33 |
Drawdowns
SPBC vs. BTC-USD - Drawdown Comparison
The maximum SPBC drawdown since its inception was -33.99%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SPBC and BTC-USD.
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Drawdown Indicators
| SPBC | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -85.30% | +51.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -49.65% | +37.41% |
Max Drawdown (3Y)Largest decline over 3 years | -21.00% | -49.65% | +28.65% |
Max Drawdown (5Y)Largest decline over 5 years | -33.99% | -76.67% | +42.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -1.13% | -49.21% | +48.08% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -42.28% | +33.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 33.87% | -30.50% |
Volatility
SPBC vs. BTC-USD - Volatility Comparison
The current volatility for Simplify US Equity PLUS GBTC ETF (SPBC) is 3.26%, while Bitcoin (BTC-USD) has a volatility of 10.14%. This indicates that SPBC experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPBC | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 10.14% | -6.88% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 34.17% | -23.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.46% | 35.51% | -21.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.43% | 44.98% | -24.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.38% | 56.69% | -36.31% |
Frequently Asked Questions
SPBC and BTC-USD 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.
BTC-USD has higher volatility (10.14%) compared to SPBC (3.26%). In terms of maximum drawdown, SPBC dropped -33.99% vs BTC-USD's -85.30%.
SPBC currently has the higher Sharpe Ratio (1.52 vs -0.92), 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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