AIRR vs GBTC

Comparison between FIRST TRUST RBA AMERICAN INDUSTRIAL RENAISSANCE ETF (AIRR, ETF) and Grayscale Investments LLC (GBTC, ETF).

5-Year PerformanceAIRR has outperformed GBTC, delivering a return of +24.8% compared to +12.4%

AIRR vs GBTC - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AIRR(ETF)	GBTC(ETF)
Net Assets	$11B	$11B
Expense Ratio	0.69%	1.50%
Max Drawdown	42.37%	89.91%
Sharpe Ratio	1.93	-0.97
5Y Beta	1.25	1.28
P/E Ratio	38.27	N/A
Forward P/E	25.31	N/A
5Y Dividends CAGR	45.34%	N/A
5Y EPS CAGR	22.84%	N/A
Debt to Equity	36.01%	N/A
P/S Ratio	2.29	N/A
P/B Ratio	4.36	N/A

Net Assets

AIRR

$11B

Winner

GBTC

$11B

Expense Ratio

Winner

AIRR

0.69%

GBTC

1.50%

Max Drawdown

Winner

AIRR

42.37%

GBTC

89.91%

Sharpe Ratio

Winner

AIRR

1.93

GBTC

-0.97

5Y Beta

Winner

AIRR

1.25

GBTC

1.28

P/E Ratio

AIRR

38.27

GBTC

N/A

Forward P/E

AIRR

25.31

GBTC

N/A

5Y Dividends CAGR

AIRR

45.34%

GBTC

N/A

5Y EPS CAGR

AIRR

22.84%

GBTC

N/A

Debt to Equity

AIRR

36.01%

GBTC

N/A

P/S Ratio

AIRR

2.29

GBTC

N/A

P/B Ratio

AIRR

4.36

GBTC

N/A

AIRR vs GBTC - Holdings Comparison

AIRR and GBTC have 0 common holdings. Overlap is 0.00%

AIRR's top 25 holdings weight is 72.27%. GBTC's top 25 holdings weight is 12.55%.

Rank	AIRR	GBTC
#1	STERLING INFRASTRUCTURE INC (STRL) - 6.48%	GRAYSCALE BITCOIN MINI TRUST (BTC) (BTC) - 12.55%
#2	COMFORT SYSTEMS USA INC (FIX) - 4.34%	N/A
#3	SAIA INC (SAIA) - 4.09%	N/A
#4	ARGAN INC (AGX) - 4.07%	N/A
#5	C.H. ROBINSON WORLDWIDE INC (CHRW) - 4.00%	N/A
#6	EMCOR GROUP INC (EME) - 3.87%	N/A
#7	MASTEC INC (MTZ) - 3.81%	N/A
#8	DYCOM INDUSTRIES INC (DY) - 3.74%	N/A
#9	KRATOS DEFENSE & SECURITY SOLUTIONS INC (KTOS) - 3.19%	N/A
#10	OWENS-CORNING INC (OC) - 3.05%	N/A
#11	BWX TECHNOLOGIES INC (BWXT) - 2.96%	N/A
#12	POWELL INDUSTRIES INC (POWL) - 2.68%	N/A
#13	HUNTINGTON INGALLS INDUSTRIES INC (HII) - 2.65%	N/A
#14	CLEAN HARBORS INC (CLH) - 2.33%	N/A
#15	F N B CORP (FNB) - 2.30%	N/A
#16	CORE & MAIN INC CLASS A (CNM) - 2.24%	N/A
#17	KARMAN HOLDINGS INC (KRMN) - 2.13%	N/A
#18	ADVANCED DRAINAGE SYSTEMS INC (WMS) - 2.05%	N/A
#19	IES HOLDINGS INC (IESC) - 2.01%	N/A
#20	KIRBY CORP (KEX) - 1.86%	N/A
#21	AAON INC (AAON) - 1.83%	N/A
#22	RBC BEARINGS INC (RBC) - 1.72%	N/A
#23	APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT) - 1.70%	N/A
#24	SPX TECHNOLOGIES INC (SPXC) - 1.64%	N/A
#25	PRIMORIS SERVICES CORP (PRIM) - 1.53%	N/A
Total Holdings	54	1

AIRR vs GBTC - Historical Returns

Returns include dividend reinvestment.

Period	AIRR	GBTC
1 month	-1.14%	-21.09%
3 months	+13.36%	-8.59%
6 months	+29.33%	-30.74%
1 year	+62.07%	-42.61%
5 years(CAGR)	+24.84%	+12.37%
10 years(CAGR)	+21.28%	+47.91%
Max(CAGR)	+16.80%	+53.86%

Winner

AIRR

-1.14%

GBTC

-21.09%

Winner

AIRR

+13.36%

GBTC

-8.59%

Winner

AIRR

+29.33%

GBTC

-30.74%

Winner

AIRR

+62.07%

GBTC

-42.61%

5Y(CAGR)

Winner

AIRR

+24.84%

GBTC

+12.37%

10Y(CAGR)

AIRR

+21.28%

Winner

GBTC

+47.91%

Max(CAGR)

AIRR

+16.80%

Winner

GBTC

+53.86%

AIRR vs GBTC - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	AIRR	GBTC
2026	+26.30%	-29.90%
2025	+28.15%	-11.46%
2024	+34.63%	+100.87%
2023	+31.64%	+322.20%
2022	-2.33%	-75.81%
2021	+35.64%	-2.37%
2020	+17.89%	+301.00%
2019	+33.18%	+77.27%
2018	-20.86%	-84.05%
2017	+15.55%	+1558.98%
2016	+46.48%	+90.08%
2015	-8.82%	+50.01%
2014	-6.57%	N/A

AIRR vs GBTC Drawdown Comparison

The maximum drawdown for AIRR was -42.37%, occurring on Mar 23, 2020. Recovery took 187 trading sessions.

The maximum drawdown for GBTC was -89.91%, occurring on Dec 14, 2018. Recovery took 766 trading sessions.

The current AIRR drawdown is -2.88%. The current GBTC drawdown is -50.05%.

Rank	AIRR	GBTC
#1	-42.37% Feb 13, 2020 - Nov 9, 2020	-89.91% Dec 18, 2017 - Jan 5, 2021
#2	-28.40% Apr 2, 2014 - Aug 23, 2016	-86.24% Feb 19, 2021 - Mar 4, 2024
#3	-28.06% Sep 21, 2018 - Nov 1, 2019	-57.96% May 5, 2015 - Dec 8, 2015
#4	-27.95% Nov 25, 2024 - Jul 24, 2025	-52.45% Oct 6, 2025 - Jun 5, 2026
#5	-24.08% Nov 16, 2021 - Jan 13, 2023	-48.42% Aug 31, 2017 - Nov 3, 2017
#6	-15.47% Sep 1, 2023 - Dec 13, 2023	-41.48% Jun 17, 2016 - Jan 3, 2017
#7	-14.36% Mar 3, 2023 - Jun 7, 2023	-36.93% Dec 15, 2015 - Apr 21, 2016
#8	-13.09% Feb 20, 2026 - Apr 14, 2026	-36.68% Jun 6, 2017 - Aug 10, 2017
#9	-11.06% Jan 12, 2018 - Aug 21, 2018	-35.04% Mar 13, 2024 - Nov 11, 2024
#10	-10.05% Jul 31, 2024 - Sep 19, 2024	-30.26% Jan 7, 2021 - Feb 8, 2021
#11	-9.86% May 7, 2021 - Aug 11, 2021	-28.76% Jan 4, 2017 - May 1, 2017
#12	-9.70% Mar 12, 2021 - May 7, 2021	-28.45% Dec 17, 2024 - May 21, 2025
#13	-9.45% Mar 1, 2017 - Sep 19, 2017	-19.31% May 9, 2017 - May 22, 2017
#14	-9.28% Oct 29, 2025 - Dec 10, 2025	-18.18% May 9, 2016 - May 31, 2016
#15	-9.04% May 24, 2024 - Jul 16, 2024	-15.79% Nov 3, 2017 - Nov 20, 2017

Correlation

Correlation between AIRR and GBTC is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85

-101

Dividend Comparison (2014 - 2026)

AIRR vs GBTC dividend yield comparison.

Year	AIRR	GBTC
2026	0.05%	0.00%
2025	0.19%	0.00%
2024	0.18%	0.00%
2023	0.23%	0.00%
2022	0.12%	0.00%
2021	0.05%	0.00%
2020	0.10%	0.00%
2019	0.20%	0.00%
2018	0.43%	0.00%
2017	0.30%	5.61%
2016	0.08%	0.00%
2015	0.47%	0.00%
2014	0.38%	0.00%