VBTC.PA vs. IBIT
Compare and contrast key facts about VanEck Bitcoin ETN A (VBTC.PA) and iShares Bitcoin Trust ETF (IBIT).
VBTC.PA and IBIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VBTC.PA is a passively managed fund by VanEck that tracks the performance of the MVIS Cryptocompare Bitcoin VWAP Close Index. It was launched on Nov 19, 2020. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024. Both VBTC.PA and IBIT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
VBTC.PA vs. IBIT - Performance Comparison
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VBTC.PA vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VBTC.PA VanEck Bitcoin ETN A | -21.68% | -17.91% | 114.40% |
IBIT iShares Bitcoin Trust ETF | -20.98% | -17.52% | 111.13% |
Different Trading Currencies
VBTC.PA is traded in EUR, while IBIT is traded in USD. To make them comparable, the IBIT values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with VBTC.PA having a -21.68% return and IBIT slightly higher at -21.39%.
VBTC.PA
- 1D
- 2.00%
- 1M
- -0.41%
- YTD
- -21.68%
- 6M
- -41.21%
- 1Y
- -25.22%
- 3Y*
- 30.14%
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- 0.00%
- 1M
- -0.90%
- YTD
- -21.39%
- 6M
- -41.59%
- 1Y
- -25.75%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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VBTC.PA vs. IBIT - Expense Ratio Comparison
VBTC.PA has a 1.00% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Return for Risk
VBTC.PA vs. IBIT — Risk / Return Rank
VBTC.PA
IBIT
VBTC.PA vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin ETN A (VBTC.PA) 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.
| VBTC.PA | IBIT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.63 | -0.57 | -0.06 |
Sortino ratioReturn per unit of downside risk | -0.72 | -0.58 | -0.13 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.93 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.46 | -0.47 | +0.01 |
Martin ratioReturn relative to average drawdown | -0.97 | -1.00 | +0.03 |
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
| VBTC.PA | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.63 | -0.57 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.30 | -0.04 |
Correlation
The correlation between VBTC.PA and IBIT is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VBTC.PA vs. IBIT - Dividend Comparison
Neither VBTC.PA nor IBIT has paid dividends to shareholders.
Drawdowns
VBTC.PA vs. IBIT - Drawdown Comparison
The maximum VBTC.PA drawdown since its inception was -74.29%, which is greater than IBIT's maximum drawdown of -49.64%. Use the drawdown chart below to compare losses from any high point for VBTC.PA and IBIT.
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Drawdown Indicators
| VBTC.PA | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.29% | -49.36% | -24.93% |
Max Drawdown (1Y)Largest decline over 1 year | -49.44% | -49.36% | -0.08% |
Current DrawdownCurrent decline from peak | -44.88% | -45.80% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -31.85% | -14.18% | -17.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.21% | 23.27% | -0.06% |
Volatility
VBTC.PA vs. IBIT - Volatility Comparison
VanEck Bitcoin ETN A (VBTC.PA) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 12.51% and 12.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTC.PA | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.51% | 12.51% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 31.69% | 36.63% | -4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.87% | 45.76% | -5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.28% | 51.22% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.28% | 51.22% | +2.06% |