SPYG vs. IBIT
SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth 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, SPYG returned 29.17% vs -39.67% for IBIT. At a 0.39 correlation, their price movements are largely independent. SPYG charges 0.04%/yr vs 0.25%/yr for IBIT.
Performance
SPYG vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SPYG achieves a 9.70% return, which is significantly higher than IBIT's -27.41% return.
SPYG
- 1D
- 0.41%
- 1M
- -1.24%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
IBIT
- 1D
- -0.03%
- 1M
- -19.59%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYG vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.47% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between SPYG 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 11, 2024 | 0.39 |
The correlation between SPYG and IBIT shifts across timeframes, from 0.39 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPYG vs. IBIT — Risk / Return Rank
SPYG
IBIT
SPYG vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) 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.
| SPYG | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +3.56 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.85 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | -0.78 | +2.79 |
| Martin ratioReturn relative to average drawdown | 8.08 | -1.37 | +9.46 |
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Drawdowns
SPYG vs. IBIT - Drawdown Comparison
The maximum SPYG drawdown since its inception was -67.63%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SPYG and IBIT.
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Drawdown Indicators
| SPYG | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.63% | -52.11% | -15.52% |
Max Drawdown (1Y)Largest decline over 1 year | -13.76% | -52.11% | +38.35% |
Max Drawdown (3Y)Largest decline over 3 years | -22.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.67% | — | — |
Current DrawdownCurrent decline from peak | -4.65% | -49.45% | +44.80% |
Average DrawdownAverage peak-to-trough decline | -24.30% | -16.53% | -7.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 29.64% | -26.22% |
Volatility
SPYG vs. IBIT - Volatility Comparison
The current volatility for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is 6.33%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that SPYG 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
| SPYG | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 12.07% | -5.74% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 34.45% | -20.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.81% | 44.10% | -27.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.27% | 50.26% | -28.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 50.26% | -29.56% |
SPYG vs. IBIT - Expense Ratio Comparison
SPYG has a 0.04% 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
SPYG vs. IBIT - Dividend Comparison
SPYG's dividend yield for the trailing twelve months is around 0.48%, 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% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.48% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
SPYG 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.
IBIT has higher volatility (12.07%) compared to SPYG (6.33%). In terms of maximum drawdown, SPYG dropped -67.63% vs IBIT's -52.11%.
On 1-year performance, SPYG leads with 29.17% vs -39.67% for IBIT. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYG has performed better with a 29.17% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.25% for IBIT.
SPYG has the higher dividend yield at 0.48%, compared with 0.00% for IBIT.
SPYG is categorized as S&P 500, while IBIT is Cryptocurrency. SPYG tracks S&P 500 Growth Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: State Street and iShares. Their fees differ too: 0.04% for SPYG and 0.25% for IBIT.
SPYG currently has the higher Sharpe Ratio (1.65 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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