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 21.45% vs -38.74% 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 7.71% return, which is significantly higher than IBIT's -25.48% return.
SPBC
- 1D
- -0.90%
- 1M
- 3.04%
- YTD
- 7.71%
- 6M
- 7.18%
- 1Y
- 21.45%
- 3Y*
- 28.29%
- 5Y*
- 15.96%
- 10Y*
- —
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPBC vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPBC Simplify US Equity PLUS GBTC ETF | 7.71% | 16.83% | 33.91% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between SPBC and IBIT is 0.69, 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 | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.65 |
The correlation between SPBC and IBIT has been stable across timeframes, ranging from 0.65 to 0.69 - 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.
| SPBC | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.38 | ||
| Sortino ratioReturn per unit of downside risk | +3.30 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.86 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | -0.79 | +2.55 |
| Martin ratioReturn relative to average drawdown | 6.38 | -1.36 | +7.75 |
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 | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | -0.89 | +2.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.30 | +0.50 |
Drawdowns
SPBC vs. IBIT - Drawdown Comparison
The maximum SPBC drawdown since its inception was -33.99%, smaller than the maximum IBIT drawdown of -49.36%. 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% | -49.36% | +15.37% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -49.36% | +37.12% |
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 | -1.28% | -48.10% | +46.82% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -16.02% | +7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 28.44% | -25.07% |
Volatility
SPBC vs. IBIT - Volatility Comparison
The current volatility for Simplify US Equity PLUS GBTC ETF (SPBC) is 3.38%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. 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 | 3.38% | 9.50% | -6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.92% | 34.44% | -23.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | 43.73% | -29.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.43% | 50.19% | -29.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.39% | 50.19% | -29.80% |
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 0.83%, 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 | 0.83% | 0.85% | 0.98% | 3.79% | 0.60% | 1.41% |
Frequently Asked Questions
SPBC and IBIT have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to SPBC (3.38%). In terms of maximum drawdown, SPBC dropped -33.99% vs IBIT's -49.36%.
On 1-year performance, SPBC leads with 21.45% vs -38.74% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, SPBC has been the lower-risk option at 3.38%. 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 21.45% return vs -38.74%. 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 0.83%, 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 (1.49 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.
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