GBTC vs BOND
Comparison between Grayscale Investments LLC (GBTC, ETF) and PIMCO ACTIVE BOND EXCHANGE-TRADED FUND (BOND, ETF).
5-Year PerformanceGBTC has outperformed BOND, delivering a return of +8.5% compared to +0.1%
GBTC vs BOND - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
GBTC
$8.40B
Winner
BOND
$8.50B
Expense Ratio
GBTC
1.50%
Winner
BOND
0.54%
Max Drawdown
GBTC
89.91%
Winner
BOND
24.58%
Sharpe Ratio
GBTC
-0.77
Winner
BOND
-0.09
5Y Beta
GBTC
1.18
Winner
BOND
0.05
5Y Dividends CAGR
GBTC
N/A
BOND
9.31%
GBTC vs BOND - Holdings Comparison
GBTC and BOND have 0 common holdings. Overlap is 0.00%
GBTC's top 25 holdings weight is 12.55%. BOND's top 25 holdings weight is 60.72%.
| Rank | GBTC | BOND |
|---|---|---|
| #1 | GRAYSCALE BITCOIN MINI TRUST (BTC) (BTC) - 12.55% | U S TREASURY REPO (n/a) - 14.79% |
| #2 | N/A | PIMCO MORTGAGE-BACKED SECURITIES ACT ETF (PMBS) - 4.06% |
| #3 | N/A | FEDERAL HOME LOAN MORTGAGE CORP. 5.5% (n/a) - 3.87% |
| #4 | N/A | n/a (n/a) - 3.79% |
| #5 | N/A | UNITED STATES TREASURY BONDS 3.875% (n/a) - 3.36% |
| #6 | N/A | UNITED STATES TREASURY BONDS 4.625% (n/a) - 3.26% |
| #7 | N/A | FEDERAL HOME LOAN MORTGAGE CORP. 5% (n/a) - 3.23% |
| #8 | N/A | n/a (n/a) - 3.08% |
| #9 | N/A | FEDERAL HOME LOAN MORTGAGE CORP. 6% (n/a) - 3.08% |
| #10 | N/A | CDX IG46 5Y ICE (n/a) - 2.05% |
| #11 | N/A | FEDERAL NATIONAL MORTGAGE ASSOCIATION 6% (n/a) - 1.95% |
| #12 | N/A | UNITED STATES TREASURY NOTES 1.75% (n/a) - 1.93% |
| #13 | N/A | UNITED STATES TREASURY BONDS 3.125% (n/a) - 1.92% |
| #14 | N/A | UNITED STATES TREASURY BONDS 2.375% (n/a) - 1.30% |
| #15 | N/A | n/a (n/a) - 1.15% |
| #16 | N/A | IRS AUD 4.00000 12/17/25-10Y LCH (n/a) - 1.05% |
| #17 | N/A | UNITED STATES TREASURY NOTES 2.125% (n/a) - 1.03% |
| #18 | N/A | BEIGNET INV LLC 6.581% (n/a) - 1.00% |
| #19 | N/A | FEDERAL NATIONAL MORTGAGE ASSOCIATION 5% (n/a) - 0.92% |
| #20 | N/A | PROJECT CASHMERE CLASS A1 144A (n/a) - 0.74% |
| #21 | N/A | FEDERAL NATIONAL MORTGAGE ASSOCIATION 4% (n/a) - 0.70% |
| #22 | N/A | FNMA PASS-THRU I 5.5% (n/a) - 0.69% |
| #23 | N/A | REPUBLIC OF SOUTH AFRICA (n/a) - 0.65% |
| #24 | N/A | TITULOS DE TESORERIA (n/a) - 0.58% |
| #25 | N/A | PERU (REPUBLIC OF) 7.3% (n/a) - 0.54% |
| Total Holdings | 1 | 1065 |
GBTC vs BOND - Historical Returns
Returns include dividend reinvestment.
1M
Winner
GBTC
+15.81%
BOND
-0.05%
3M
GBTC
-1.06%
Winner
BOND
+0.37%
6M
Winner
GBTC
+12.91%
BOND
-1.46%
1Y
GBTC
-32.32%
Winner
BOND
+3.58%
5Y(CAGR)
Winner
GBTC
+8.54%
BOND
+0.07%
10Y(CAGR)
Winner
GBTC
+51.58%
BOND
+1.96%
Max(CAGR)
Winner
GBTC
+55.30%
BOND
+2.90%
GBTC vs BOND - Annual Returns (2012 - 2026)
Returns include dividend reinvestment.
| Year | GBTC | BOND |
|---|---|---|
| 2026 | -14.98% | +0.20% |
| 2025 | -11.46% | +8.34% |
| 2024 | +100.87% | +3.33% |
| 2023 | +322.20% | +5.90% |
| 2022 | -75.81% | -14.20% |
| 2021 | -2.37% | -0.71% |
| 2020 | +301.00% | +7.52% |
| 2019 | +77.27% | +8.44% |
| 2018 | -84.05% | +0.14% |
| 2017 | +1558.98% | +4.66% |
| 2016 | +90.08% | +2.92% |
| 2015 | +50.01% | +0.63% |
| 2014 | N/A | +6.51% |
| 2013 | N/A | -1.03% |
| 2012 | N/A | +11.91% |
GBTC vs BOND Drawdown Comparison
The maximum drawdown for GBTC was -89.91%, occurring on Dec 14, 2018. Recovery took 766 trading sessions.
The maximum drawdown for BOND was -19.72%, occurring on Oct 21, 2022. Recovery took 1059 trading sessions.
The current GBTC drawdown is -39.42%. The current BOND drawdown is -1.89%.
| Rank | GBTC | BOND |
|---|---|---|
| #1 | -89.91% Dec 18, 2017 - Jan 5, 2021 | -19.72% Aug 3, 2021 - Oct 21, 2025 |
| #2 | -86.24% Feb 19, 2021 - Mar 4, 2024 | -10.88% Mar 9, 2020 - Jul 15, 2020 |
| #3 | -57.96% May 5, 2015 - Dec 8, 2015 | -6.17% May 2, 2013 - May 15, 2014 |
| #4 | -53.75% Oct 6, 2025 - Jun 30, 2026 | -3.81% Sep 30, 2016 - Apr 11, 2017 |
| #5 | -48.42% Aug 31, 2017 - Nov 3, 2017 | -3.53% Apr 1, 2015 - Apr 28, 2016 |
| #6 | -41.48% Jun 17, 2016 - Jan 3, 2017 | -3.12% Sep 8, 2017 - Jan 3, 2019 |
| #7 | -36.93% Dec 15, 2015 - Apr 21, 2016 | -3.12% Dec 31, 2020 - Jul 19, 2021 |
| #8 | -36.68% Jun 6, 2017 - Aug 10, 2017 | -3.01% Feb 27, 2026 - May 19, 2026 |
| #9 | -35.04% Mar 13, 2024 - Nov 11, 2024 | -1.76% Jan 30, 2015 - Apr 1, 2015 |
| #10 | -30.26% Jan 7, 2021 - Feb 8, 2021 | -1.61% Sep 4, 2019 - Jan 3, 2020 |
| #11 | -28.76% Jan 4, 2017 - May 1, 2017 | -1.34% Apr 18, 2017 - Jun 2, 2017 |
| #12 | -28.45% Dec 17, 2024 - May 21, 2025 | -1.03% Mar 8, 2012 - Mar 27, 2012 |
| #13 | -19.31% May 9, 2017 - May 22, 2017 | -1.03% Jun 26, 2017 - Jul 21, 2017 |
| #14 | -18.18% May 9, 2016 - May 31, 2016 | -1.03% Aug 7, 2020 - Nov 19, 2020 |
| #15 | -15.79% Nov 3, 2017 - Nov 20, 2017 | -1.03% Oct 28, 2025 - Nov 26, 2025 |
Correlation
Correlation between GBTC and BOND is 0.69 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.69
-101
Dividend Comparison (2012 - 2026)
GBTC vs BOND dividend yield comparison.
| Year | GBTC | BOND |
|---|---|---|
| 2026 | 0.00% | 3.02% |
| 2025 | 0.00% | 5.11% |
| 2024 | 0.00% | 5.02% |
| 2023 | 0.00% | 4.06% |
| 2022 | 0.00% | 3.44% |
| 2021 | 0.00% | 2.58% |
| 2020 | 0.00% | 2.66% |
| 2019 | 0.00% | 3.38% |
| 2018 | 0.00% | 3.18% |
| 2017 | 5.61% | 2.87% |
| 2016 | 0.00% | 2.85% |
| 2015 | 0.00% | 4.14% |
| 2014 | 0.00% | 4.13% |
| 2013 | 0.00% | 2.82% |
| 2012 | 0.00% | 2.52% |
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