GBTC vs IGF

Comparison between Grayscale Investments LLC (GBTC, ETF) and ISHARES GLOBAL INFRASTRUCTURE ETF (IGF, ETF).

5-Year PerformanceGBTC has outperformed IGF, delivering a return of +12.4% compared to +9.9%

GBTC vs IGF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GBTC(ETF)	IGF(ETF)
Net Assets	$11B	$11B
Expense Ratio	1.50%	0.39%
Max Drawdown	89.91%	59.46%
Sharpe Ratio	-0.97	0.97
5Y Beta	1.28	0.41
5Y Dividends CAGR	N/A	9.47%

Net Assets

Winner

GBTC

$11B

IGF

$11B

Expense Ratio

GBTC

1.50%

Winner

IGF

0.39%

Max Drawdown

GBTC

89.91%

Winner

IGF

59.46%

Sharpe Ratio

GBTC

-0.97

Winner

IGF

0.97

5Y Beta

GBTC

1.28

Winner

IGF

0.41

5Y Dividends CAGR

GBTC

N/A

IGF

9.47%

GBTC vs IGF - Holdings Comparison

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

GBTC's top 25 holdings weight is 12.55%. IGF's top 25 holdings weight is 69.04%.

Rank	GBTC	IGF
#1	GRAYSCALE BITCOIN MINI TRUST (BTC) (BTC) - 12.55%	TRANSURBAN GROUP (n/a) - 5.44%
#2	N/A	AENA SME SA (n/a) - 4.81%
#3	N/A	NEXTERA ENERGY INC (NEE) - 4.68%
#4	N/A	ENBRIDGE INC (n/a) - 4.13%
#5	N/A	IBERDROLA SA (n/a) - 3.84%
#6	N/A	n/a (PAC) - 3.65%
#7	N/A	AUCKLAND INTERNATIONAL AIRPORT LTD (n/a) - 3.20%
#8	N/A	WILLIAMS COMPANIES INC (WMB) - 2.94%
#9	N/A	SOUTHERN CO (SO) - 2.69%
#10	N/A	DUKE ENERGY CORP (DUK) - 2.56%
#11	N/A	GETLINK SE ACT. PROVENANT REGROUPEMENT (n/a) - 2.52%
#12	N/A	QUBE HOLDINGS LTD (n/a) - 2.44%
#13	N/A	TC ENERGY CORP (TRP) - 2.37%
#14	N/A	ENEL SPA (n/a) - 2.36%
#15	N/A	CONSTELLATION ENERGY CORP (CEG) - 2.28%
#16	N/A	NATIONAL GRID PLC (n/a) - 2.17%
#17	N/A	FLUGHAFEN ZUERICH AG (n/a) - 2.15%
#18	N/A	KINDER MORGAN INC CLASS P (KMI) - 2.08%
#19	N/A	n/a (ASR) - 1.97%
#20	N/A	TARGA RESOURCES CORP (TRGP) - 1.91%
#21	N/A	AEROPORTS DE PARIS SA (n/a) - 1.90%
#22	N/A	ONEOK INC (OKE) - 1.84%
#23	N/A	AMERICAN ELECTRIC POWER CO INC (AEP) - 1.84%
#24	N/A	CHENIERE ENERGY INC (LNG) - 1.69%
#25	N/A	ENGIE SA (n/a) - 1.58%
Total Holdings	1	95

GBTC vs IGF - Historical Returns

Returns include dividend reinvestment.

Period	GBTC	IGF
1 month	-21.09%	-1.91%
3 months	-8.59%	-2.14%
6 months	-30.74%	+8.24%
1 year	-42.61%	+14.99%
5 years(CAGR)	+12.37%	+9.91%
10 years(CAGR)	+47.91%	+8.06%
Max(CAGR)	+53.86%	+4.78%

GBTC

-21.09%

Winner

IGF

-1.91%

GBTC

-8.59%

Winner

IGF

-2.14%

GBTC

-30.74%

Winner

IGF

+8.24%

GBTC

-42.61%

Winner

IGF

+14.99%

5Y(CAGR)

Winner

GBTC

+12.37%

IGF

+9.91%

10Y(CAGR)

Winner

GBTC

+47.91%

IGF

+8.06%

Max(CAGR)

Winner

GBTC

+53.86%

IGF

+4.78%

GBTC vs IGF - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	GBTC	IGF
2026	-29.90%	+6.07%
2025	-11.46%	+20.40%
2024	+100.87%	+14.99%
2023	+322.20%	+6.19%
2022	-75.81%	-1.73%
2021	-2.37%	+12.40%
2020	+301.00%	-6.32%
2019	+77.27%	+25.62%
2018	-84.05%	-10.45%
2017	+1558.98%	+18.88%
2016	+90.08%	+12.88%
2015	+50.01%	-12.25%
2014	N/A	+12.98%
2013	N/A	+11.61%
2012	N/A	+10.62%
2011	N/A	-1.82%
2010	N/A	+3.73%
2009	N/A	+17.05%
2008	N/A	-40.35%
2007	N/A	+1.11%

GBTC vs IGF Drawdown Comparison

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

The maximum drawdown for IGF was -58.32%, occurring on Mar 9, 2009. Recovery took 1569 trading sessions.

The current GBTC drawdown is -50.05%. The current IGF drawdown is -5.29%.

Rank	GBTC	IGF
#1	-89.91% Dec 18, 2017 - Jan 5, 2021	-58.32% Jan 2, 2008 - Mar 27, 2014
#2	-86.24% Feb 19, 2021 - Mar 4, 2024	-42.11% Feb 18, 2020 - Oct 20, 2021
#3	-57.96% May 5, 2015 - Dec 8, 2015	-23.03% Apr 28, 2015 - Sep 8, 2016
#4	-52.45% Oct 6, 2025 - Jun 5, 2026	-20.80% Apr 20, 2022 - May 7, 2024
#5	-48.42% Aug 31, 2017 - Nov 3, 2017	-14.74% Jan 26, 2018 - Mar 19, 2019
#6	-41.48% Jun 17, 2016 - Jan 3, 2017	-11.38% Sep 8, 2016 - Mar 22, 2017
#7	-36.93% Dec 15, 2015 - Apr 21, 2016	-9.83% Sep 5, 2014 - Apr 28, 2015
#8	-36.68% Jun 6, 2017 - Aug 10, 2017	-8.74% Apr 2, 2025 - Apr 17, 2025
#9	-35.04% Mar 13, 2024 - Nov 11, 2024	-7.05% Nov 5, 2021 - Jan 12, 2022
#10	-30.26% Jan 7, 2021 - Feb 8, 2021	-6.97% Nov 29, 2024 - Jan 21, 2025
#11	-28.76% Jan 4, 2017 - May 1, 2017	-6.28% Jul 11, 2019 - Oct 22, 2019
#12	-28.45% Dec 17, 2024 - May 21, 2025	-6.27% Jul 24, 2014 - Sep 5, 2014
#13	-19.31% May 9, 2017 - May 22, 2017	-5.87% Feb 27, 2026 - Mar 20, 2026
#14	-18.18% May 9, 2016 - May 31, 2016	-4.67% Jan 21, 2025 - Apr 1, 2025
#15	-15.79% Nov 3, 2017 - Nov 20, 2017	-4.48% May 17, 2024 - Jul 12, 2024

Correlation

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

0.85

-101

Dividend Comparison (2007 - 2025)

GBTC vs IGF dividend yield comparison.

Year	GBTC	IGF
2025	0.00%	3.23%
2024	0.00%	3.21%
2023	0.00%	3.36%
2022	0.00%	2.67%
2021	0.00%	2.42%
2020	0.00%	2.33%
2019	0.00%	3.27%
2018	0.00%	3.52%
2017	5.61%	2.95%
2016	0.00%	2.98%
2015	0.00%	3.25%
2014	0.00%	3.00%
2013	0.00%	3.45%
2012	0.00%	4.10%
2011	0.00%	4.36%
2010	0.00%	3.70%
2009	0.00%	3.35%
2008	0.00%	3.10%
2007	0.00%	0.36%