XEQT.TO vs. GBTC
XEQT.TO (iShares Core Equity ETF Portfolio) and GBTC (Grayscale Bitcoin Trust ETF) are both exchange-traded funds - XEQT.TO is a Global Equities fund actively managed by iShares, while GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. XEQT.TO is actively managed, while GBTC is passively managed. Over the past 5 years, XEQT.TO returned 13.61%/yr vs 13.45%/yr for GBTC. At a 0.34 correlation, their price movements are largely independent. XEQT.TO charges 0.20%/yr vs 1.50%/yr for GBTC.
Performance
XEQT.TO vs. GBTC - Performance Comparison
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Different Trading Currencies
XEQT.TO is traded in CAD, while GBTC is traded in USD. To make them comparable, the GBTC values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XEQT.TO achieves a 12.92% return, which is significantly higher than GBTC's -26.88% return.
XEQT.TO
- 1D
- -1.14%
- 1M
- 2.18%
- YTD
- 12.92%
- 6M
- 12.31%
- 1Y
- 30.22%
- 3Y*
- 23.00%
- 5Y*
- 13.61%
- 10Y*
- —
GBTC
- 1D
- -3.33%
- 1M
- -15.56%
- YTD
- -26.88%
- 6M
- -27.31%
- 1Y
- -38.71%
- 3Y*
- 39.48%
- 5Y*
- 13.45%
- 10Y*
- 46.31%
XEQT.TO vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XEQT.TO iShares Core Equity ETF Portfolio | 12.92% | 20.57% | 24.38% | 17.27% | -10.99% | 18.98% | 11.85% | 8.56% |
GBTC Grayscale Bitcoin Trust ETF | -26.88% | -11.86% | 131.91% | 307.68% | -74.26% | 6.98% | 281.45% | -40.23% |
Correlation
The correlation between XEQT.TO and GBTC is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2019 | 0.34 |
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Return for Risk
XEQT.TO vs. GBTC — Risk / Return Rank
XEQT.TO
GBTC
XEQT.TO vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Equity ETF Portfolio (XEQT.TO) and Grayscale Bitcoin Trust ETF (GBTC). 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.
| XEQT.TO | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.36 | ||
| Sortino ratioReturn per unit of downside risk | +4.59 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.87 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | -0.74 | +4.42 |
| Martin ratioReturn relative to average drawdown | 15.80 | -1.24 | +17.03 |
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Drawdowns
XEQT.TO vs. GBTC - Drawdown Comparison
The maximum XEQT.TO drawdown since its inception was -29.74%, smaller than the maximum GBTC drawdown of -89.71%. Use the drawdown chart below to compare losses from any high point for XEQT.TO and GBTC.
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Drawdown Indicators
| XEQT.TO | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.74% | -89.71% | +59.97% |
Max Drawdown (1Y)Largest decline over 1 year | -8.25% | -52.65% | +44.40% |
Max Drawdown (3Y)Largest decline over 3 years | -15.08% | -52.65% | +37.57% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -84.15% | +64.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.71% | — |
Current DrawdownCurrent decline from peak | -1.19% | -50.20% | +49.01% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -42.96% | +38.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 31.36% | -29.44% |
Volatility
XEQT.TO vs. GBTC - Volatility Comparison
The current volatility for iShares Core Equity ETF Portfolio (XEQT.TO) is 4.65%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 12.99%. This indicates that XEQT.TO experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEQT.TO | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 12.99% | -8.34% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 34.60% | -24.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.24% | 44.47% | -32.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.24% | 62.50% | -49.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.57% | 81.88% | -66.31% |
XEQT.TO vs. GBTC - Expense Ratio Comparison
XEQT.TO has a 0.20% expense ratio, which is lower than GBTC's 1.50% expense ratio.
Dividends
XEQT.TO vs. GBTC - Dividend Comparison
XEQT.TO's dividend yield for the trailing twelve months is around 1.48%, while GBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
XEQT.TO iShares Core Equity ETF Portfolio | 1.48% | 1.66% | 2.03% | 2.09% | 2.14% | 1.66% | 1.69% | 1.21% | 0.00% | 0.00% |
Frequently Asked Questions
XEQT.TO and GBTC have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEQT.TO is cheaper with a 0.20% expense ratio, compared with 1.50% for GBTC.
XEQT.TO is categorized as Global Equities, while GBTC is Cryptocurrency. They also come from different issuers: iShares and Grayscale. Their fees differ too: 0.20% for XEQT.TO and 1.50% for GBTC.
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