WGMI vs. IBLC
WGMI (CoinShares Bitcoin Miners ETF) and IBLC (iShares Blockchain and Tech ETF) are both Cryptocurrency funds. WGMI is actively managed, while IBLC is passively managed. Over the past 3 years, WGMI returned 55.05%/yr vs 31.95%/yr for IBLC. Their 0.95 correlation means they have historically moved very closely together. WGMI charges 0.75%/yr vs 0.47%/yr for IBLC.
Performance
WGMI vs. IBLC - Performance Comparison
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Returns By Period
In the year-to-date period, WGMI achieves a 37.84% return, which is significantly higher than IBLC's 9.90% return.
WGMI
- 1D
- -3.65%
- 1M
- -0.83%
- 6M
- 16.45%
- YTD
- 37.84%
- 1Y
- 112.44%
- 3Y*
- 55.05%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 17.03%
IBLC
- 1D
- 0.49%
- 1M
- -0.81%
- 6M
- 7.87%
- YTD
- 9.90%
- 1Y
- 17.19%
- 3Y*
- 31.95%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $402.94K | $477.69K | $769.77K | |
| $36.71M | $32.23M | $41.00M |
WGMI vs. IBLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WGMI CoinShares Bitcoin Miners ETF | 37.84% | 72.47% | 23.54% | 304.08% | -74.63% |
IBLC iShares Blockchain and Tech ETF | 9.90% | 27.05% | 18.58% | 201.47% | -58.93% |
Correlation
The correlation between WGMI and IBLC is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022 | 0.95 |
The correlation between WGMI and IBLC has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
WGMI vs. IBLC — Risk / Return Rank
WGMI
IBLC
WGMI vs. IBLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Bitcoin Miners ETF (WGMI) and iShares Blockchain and Tech ETF (IBLC). 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.
| WGMI | IBLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.09 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 0.38 | +1.84 |
| Martin ratioReturn relative to average drawdown | 4.28 | 0.70 | +3.58 |
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Drawdowns
WGMI vs. IBLC - Drawdown Comparison
The maximum WGMI drawdown since its inception was -85.76%, which is greater than IBLC's maximum drawdown of -62.54%. Use the drawdown chart below to compare losses from any high point for WGMI and IBLC.
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Drawdown Indicators
| WGMI | IBLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.76% | -62.54% | -23.22% |
Max Drawdown (1Y)Largest decline over 1 year | -50.94% | -44.94% | -6.00% |
Max Drawdown (3Y)Largest decline over 3 years | -62.79% | -51.68% | -11.11% |
Current DrawdownCurrent decline from peak | -26.84% | -27.75% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -41.94% | -25.79% | -16.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.39% | 24.56% | +1.83% |
Volatility
WGMI vs. IBLC - Volatility Comparison
CoinShares Bitcoin Miners ETF (WGMI) has a higher volatility of 34.06% compared to iShares Blockchain and Tech ETF (IBLC) at 19.14%. This indicates that WGMI's price experiences larger fluctuations and is considered to be riskier than IBLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WGMI | IBLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.06% | 19.14% | +14.92% |
Volatility (6M)Calculated over the trailing 6-month period | 61.51% | 43.15% | +18.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 83.08% | 57.43% | +25.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.40% | 64.44% | +17.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.40% | 64.44% | +17.96% |
WGMI vs. IBLC - Expense Ratio Comparison
WGMI has a 0.75% expense ratio, which is higher than IBLC's 0.47% expense ratio.
Dividends
WGMI vs. IBLC - Dividend Comparison
WGMI has not paid dividends to shareholders, while IBLC's dividend yield for the trailing twelve months is around 5.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBLC iShares Blockchain and Tech ETF | 5.70% | 6.31% | 1.60% | 1.79% | 0.84% |
WGMI CoinShares Bitcoin Miners ETF | 0.00% | 0.00% | 0.22% | 0.31% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, WGMI and IBLC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
WGMI has higher volatility (34.06%) compared to IBLC (19.14%). In terms of maximum drawdown, WGMI dropped -85.76% vs IBLC's -62.54%.
On 3-year performance, WGMI leads with 55.05% vs 31.95% for IBLC. On fees, IBLC is cheaper at 0.47% per year. On volatility, IBLC has been the lower-risk option at 19.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, WGMI has performed better with a 55.05% return vs 31.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBLC is cheaper with a 0.47% expense ratio, compared with 0.75% for WGMI.
IBLC has the higher dividend yield at 5.70%, compared with 0.00% for WGMI.
They also come from different issuers: CoinShares and iShares. Their fees differ too: 0.75% for WGMI and 0.47% for IBLC.
WGMI currently has the higher Sharpe Ratio (1.36 vs 0.30), 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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