SPYM vs. IBIT
SPYM (State Street SPDR Portfolio S&P 500 ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 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, SPYM returned 24.91% vs -39.44% for IBIT. At a 0.40 correlation, their price movements are largely independent. SPYM charges 0.02%/yr vs 0.25%/yr for IBIT.
Performance
SPYM vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SPYM achieves a 8.75% return, which is significantly higher than IBIT's -27.71% return.
SPYM
- 1D
- 0.24%
- 1M
- 0.23%
- YTD
- 8.75%
- 6M
- 8.78%
- 1Y
- 24.91%
- 3Y*
- 21.46%
- 5Y*
- 13.50%
- 10Y*
- 15.40%
IBIT
- 1D
- 5.13%
- 1M
- -21.03%
- YTD
- -27.71%
- 6M
- -30.34%
- 1Y
- -39.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYM vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPYM State Street SPDR Portfolio S&P 500 ETF | 8.75% | 17.79% | 24.64% |
IBIT iShares Bitcoin Trust ETF | -27.71% | -6.41% | 89.87% |
Correlation
The correlation between SPYM and IBIT is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.40 |
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Return for Risk
SPYM vs. IBIT — Risk / Return Rank
SPYM
IBIT
SPYM vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) 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.
| SPYM | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.97 | ||
| Sortino ratioReturn per unit of downside risk | +4.04 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.86 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | -0.76 | +3.57 |
| Martin ratioReturn relative to average drawdown | 12.97 | -1.36 | +14.34 |
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
| SPYM | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | -0.90 | +2.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.26 | +0.35 |
Drawdowns
SPYM vs. IBIT - Drawdown Comparison
The maximum SPYM drawdown since its inception was -54.46%, roughly equal to the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SPYM and IBIT.
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Drawdown Indicators
| SPYM | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.46% | -52.11% | -2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -52.11% | +43.21% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.87% | — | — |
Current DrawdownCurrent decline from peak | -2.66% | -49.66% | +47.00% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -16.19% | +9.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 28.97% | -27.05% |
Volatility
SPYM vs. IBIT - Volatility Comparison
The current volatility for State Street SPDR Portfolio S&P 500 ETF (SPYM) is 3.72%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 11.85%. This indicates that SPYM 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
| SPYM | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.72% | 11.85% | -8.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.30% | 34.60% | -25.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.07% | 44.28% | -32.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.84% | 50.32% | -33.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 50.32% | -32.30% |
SPYM vs. IBIT - Expense Ratio Comparison
SPYM has a 0.02% 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
SPYM vs. IBIT - Dividend Comparison
SPYM's dividend yield for the trailing twelve months is around 1.02%, 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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.02% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
Frequently Asked Questions
SPYM and IBIT have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (11.85%) compared to SPYM (3.72%). In terms of maximum drawdown, SPYM dropped -54.46% vs IBIT's -52.11%.
On 1-year performance, SPYM leads with 24.91% vs -39.44% for IBIT. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPYM has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYM has performed better with a 24.91% return vs -39.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.25% for IBIT.
SPYM has the higher dividend yield at 1.02%, compared with 0.00% for IBIT.
SPYM is categorized as S&P 500, while IBIT is Cryptocurrency. SPYM tracks S&P 500 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: 0.02% for SPYM and 0.25% for IBIT.
SPYM currently has the higher Sharpe Ratio (2.08 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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