SPBC vs. IBIT
SPBC (Simplify US Equity PLUS GBTC ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SPBC is a Diversified Portfolio fund actively managed by Simplify, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. SPBC is actively managed, while IBIT is passively managed. Over the past year, SPBC returned 17.62% vs -39.82% for IBIT. A 0.65 correlation means they provide meaningful diversification when combined. SPBC charges 0.50%/yr vs 0.25%/yr for IBIT.
Performance
SPBC vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SPBC achieves a 4.82% return, which is significantly higher than IBIT's -28.88% return.
SPBC
- 1D
- -1.56%
- 1M
- -2.89%
- YTD
- 4.82%
- 6M
- 3.92%
- 1Y
- 17.62%
- 3Y*
- 25.41%
- 5Y*
- 15.20%
- 10Y*
- —
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPBC vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPBC Simplify US Equity PLUS GBTC ETF | 4.82% | 16.83% | 34.03% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between SPBC and IBIT is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.65 |
The correlation between SPBC and IBIT has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.
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Return for Risk
SPBC vs. IBIT — Risk / Return Rank
SPBC
IBIT
SPBC vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS GBTC ETF (SPBC) 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.
| SPBC | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.86 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | -0.77 | +2.21 |
| Martin ratioReturn relative to average drawdown | 5.13 | -1.30 | +6.44 |
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Drawdowns
SPBC vs. IBIT - Drawdown Comparison
The maximum SPBC drawdown since its inception was -33.99%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SPBC and IBIT.
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Drawdown Indicators
| SPBC | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -52.11% | +18.12% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -52.11% | +39.87% |
Max Drawdown (3Y)Largest decline over 3 years | -21.00% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.99% | — | — |
Current DrawdownCurrent decline from peak | -3.93% | -50.47% | +46.54% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -16.85% | +8.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 30.58% | -27.14% |
Volatility
SPBC vs. IBIT - Volatility Comparison
The current volatility for Simplify US Equity PLUS GBTC ETF (SPBC) is 5.19%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. This indicates that SPBC 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
| SPBC | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 13.18% | -7.99% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 34.64% | -22.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.02% | 44.31% | -29.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.52% | 50.22% | -29.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.40% | 50.22% | -29.82% |
SPBC vs. IBIT - Expense Ratio Comparison
SPBC has a 0.50% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
SPBC vs. IBIT - Dividend Comparison
SPBC's dividend yield for the trailing twelve months is around 0.86%, 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% |
SPBC Simplify US Equity PLUS GBTC ETF | 0.86% | 0.85% | 0.98% | 3.79% | 0.60% | 1.41% |
Frequently Asked Questions
SPBC and IBIT have a correlation of 0.68, 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 SPBC (5.19%). In terms of maximum drawdown, SPBC dropped -33.99% vs IBIT's -52.11%.
On 1-year performance, SPBC leads with 17.62% vs -39.82% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, SPBC has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPBC has performed better with a 17.62% 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 0.50% for SPBC.
SPBC has the higher dividend yield at 0.86%, compared with 0.00% for IBIT.
SPBC is categorized as Diversified Portfolio, while IBIT is Cryptocurrency. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.50% for SPBC and 0.25% for IBIT.
SPBC currently has the higher Sharpe Ratio (1.18 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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