GBTC vs XLB
Comparison between Grayscale Investments LLC (GBTC, ETF) and STATE STREET(R) MATERIALS SELECT SECTOR SPDR(R) ETF (XLB, ETF).
5-Year PerformanceGBTC has outperformed XLB, delivering a return of +13.7% compared to +6.7%
GBTC vs XLB - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
GBTC
$8.10B
Winner
XLB
$8.20B
Expense Ratio
GBTC
1.50%
Winner
XLB
0.08%
Max Drawdown
GBTC
89.91%
Winner
XLB
60.72%
Sharpe Ratio
GBTC
-1.24
Winner
XLB
0.73
5Y Beta
GBTC
1.29
Winner
XLB
0.80
P/E Ratio
GBTC
N/A
XLB
34.40
Forward P/E
GBTC
N/A
XLB
17.68
PEG Ratio
GBTC
N/A
XLB
0.36
5Y Dividends CAGR
GBTC
N/A
XLB
5.29%
5Y EPS CAGR
GBTC
N/A
XLB
14.93%
Debt to Equity
GBTC
N/A
XLB
41.82%
P/S Ratio
GBTC
N/A
XLB
2.01
P/B Ratio
GBTC
N/A
XLB
2.83
GBTC vs XLB - Holdings Comparison
GBTC and XLB have 0 common holdings. Overlap is 0.00%
GBTC's top 25 holdings weight is 12.55%. XLB's top 25 holdings weight is 98.88%.
| Rank | GBTC | XLB |
|---|---|---|
| #1 | GRAYSCALE BITCOIN MINI TRUST (BTC) (BTC) - 12.55% | LINDE PLC (LIN) - 14.48% |
| #2 | N/A | NEWMONT CORP (NEM) - 5.91% |
| #3 | N/A | CORTEVA INC (CTVA) - 5.05% |
| #4 | N/A | FREEPORT-MCMORAN INC (FCX) - 4.91% |
| #5 | N/A | SHERWIN-WILLIAMS CO (SHW) - 4.80% |
| #6 | N/A | AIR PRODUCTS AND CHEMICALS INC (APD) - 4.74% |
| #7 | N/A | ECOLAB INC (ECL) - 4.71% |
| #8 | N/A | VULCAN MATERIALS CO (VMC) - 4.64% |
| #9 | N/A | MARTIN MARIETTA MATERIALS INC (MLM) - 4.55% |
| #10 | N/A | CRH PLC (CRH) - 4.55% |
| #11 | N/A | NUCOR CORP (NUE) - 4.00% |
| #12 | N/A | STEEL DYNAMICS INC (STLD) - 3.76% |
| #13 | N/A | PPG INDUSTRIES INC (PPG) - 3.45% |
| #14 | N/A | SMURFIT WESTROCK PLC (SW) - 2.99% |
| #15 | N/A | DOW INC (DOW) - 2.84% |
| #16 | N/A | INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF) - 2.73% |
| #17 | N/A | PACKAGING CORP OF AMERICA (PKG) - 2.69% |
| #18 | N/A | INTERNATIONAL PAPER CO (IP) - 2.63% |
| #19 | N/A | AMCOR PLC ORDINARY SHARES (AMCR) - 2.63% |
| #20 | N/A | DUPONT DE NEMOURS INC (DD) - 2.54% |
| #21 | N/A | CF INDUSTRIES HOLDINGS INC (CF) - 2.44% |
| #22 | N/A | BALL CORP (BALL) - 2.18% |
| #23 | N/A | ALBEMARLE CORP (ALB) - 2.07% |
| #24 | N/A | LYONDELLBASELL INDUSTRIES NV CLASS A (LYB) - 1.95% |
| #25 | N/A | AVERY DENNISON CORP (AVY) - 1.64% |
| Total Holdings | 1 | 29 |
GBTC vs XLB - Historical Returns
Returns include dividend reinvestment.
1M
Winner
GBTC
-2.22%
XLB
-3.11%
3M
GBTC
-15.11%
Winner
XLB
-1.29%
6M
GBTC
-33.25%
Winner
XLB
+5.39%
1Y
GBTC
-46.99%
Winner
XLB
+15.93%
5Y(CAGR)
Winner
GBTC
+13.70%
XLB
+6.74%
10Y(CAGR)
Winner
GBTC
+45.40%
XLB
+9.80%
Max(CAGR)
Winner
GBTC
+53.41%
XLB
+7.98%
GBTC vs XLB - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | GBTC | XLB |
|---|---|---|
| 2026 | -29.03% | +11.24% |
| 2025 | -11.46% | +11.15% |
| 2024 | +100.87% | +0.32% |
| 2023 | +322.20% | +12.57% |
| 2022 | -75.81% | -11.15% |
| 2021 | -2.37% | +28.67% |
| 2020 | +301.00% | +21.95% |
| 2019 | +77.27% | +23.50% |
| 2018 | -84.05% | -16.06% |
| 2017 | +1558.98% | +23.29% |
| 2016 | +90.08% | +18.66% |
| 2015 | +50.01% | -8.81% |
| 2014 | N/A | +8.04% |
| 2013 | N/A | +22.92% |
| 2012 | N/A | +11.60% |
| 2011 | N/A | -11.64% |
| 2010 | N/A | +16.90% |
| 2009 | N/A | +42.96% |
| 2008 | N/A | -43.51% |
| 2007 | N/A | +22.87% |
| 2006 | N/A | +16.78% |
| 2005 | N/A | +5.14% |
| 2004 | N/A | +14.04% |
| 2003 | N/A | +33.88% |
| 2002 | N/A | -6.05% |
| 2001 | N/A | +4.21% |
| 2000 | N/A | -13.76% |
| 1999 | N/A | +11.31% |
GBTC vs XLB Drawdown Comparison
The maximum drawdown for GBTC was -89.91%, occurring on Dec 14, 2018. Recovery took 766 trading sessions.
The maximum drawdown for XLB was -59.83%, occurring on Mar 2, 2009. Recovery took 1250 trading sessions.
The current GBTC drawdown is -49.43%. The current XLB drawdown is -4.32%.
| Rank | GBTC | XLB |
|---|---|---|
| #1 | -89.91% Dec 18, 2017 - Jan 5, 2021 | -59.83% May 20, 2008 - May 8, 2013 |
| #2 | -86.24% Feb 19, 2021 - Mar 4, 2024 | -37.25% Jan 26, 2018 - Jul 17, 2020 |
| #3 | -57.96% May 5, 2015 - Dec 8, 2015 | -36.56% Jan 6, 2000 - Dec 1, 2003 |
| #4 | -53.75% Oct 6, 2025 - Jun 30, 2026 | -26.87% Feb 24, 2015 - Dec 5, 2016 |
| #5 | -48.42% Aug 31, 2017 - Nov 3, 2017 | -24.73% Apr 20, 2022 - Feb 29, 2024 |
| #6 | -41.48% Jun 17, 2016 - Jan 3, 2017 | -23.17% Oct 18, 2024 - Jan 9, 2026 |
| #7 | -36.93% Dec 15, 2015 - Apr 21, 2016 | -16.84% Mar 4, 2005 - Jan 6, 2006 |
| #8 | -36.68% Jun 6, 2017 - Aug 10, 2017 | -15.78% Jul 19, 2007 - Oct 9, 2007 |
| #9 | -35.04% Mar 13, 2024 - Nov 11, 2024 | -15.48% May 10, 2006 - Nov 20, 2006 |
| #10 | -30.26% Jan 7, 2021 - Feb 8, 2021 | -15.02% Oct 31, 2007 - Apr 16, 2008 |
| #11 | -28.76% Jan 4, 2017 - May 1, 2017 | -12.38% Feb 11, 2026 - Mar 20, 2026 |
| #12 | -28.45% Dec 17, 2024 - May 21, 2025 | -12.19% Mar 1, 2004 - Sep 2, 2004 |
| #13 | -19.31% May 9, 2017 - May 22, 2017 | -11.96% Dec 31, 2021 - Apr 20, 2022 |
| #14 | -18.18% May 9, 2016 - May 31, 2016 | -10.99% Sep 24, 2014 - Feb 12, 2015 |
| #15 | -15.79% Nov 3, 2017 - Nov 20, 2017 | -10.14% May 17, 2021 - Nov 8, 2021 |
Correlation
Correlation between GBTC and XLB is 0.83 which considered as a strong positive correlation - the stocks tend to move together.
0.83
-101
Dividend Comparison (1999 - 2026)
GBTC vs XLB dividend yield comparison.
| Year | GBTC | XLB |
|---|---|---|
| 2026 | 0.00% | 0.79% |
| 2025 | 0.00% | 1.92% |
| 2024 | 0.00% | 1.92% |
| 2023 | 0.00% | 2.00% |
| 2022 | 0.00% | 2.26% |
| 2021 | 0.00% | 1.62% |
| 2020 | 0.00% | 1.72% |
| 2019 | 0.00% | 1.98% |
| 2018 | 0.00% | 2.20% |
| 2017 | 5.61% | 1.66% |
| 2016 | 0.00% | 1.95% |
| 2015 | 0.00% | 2.24% |
| 2014 | 0.00% | 1.97% |
| 2013 | 0.00% | 2.08% |
| 2012 | 0.00% | 2.27% |
| 2011 | 0.00% | 2.20% |
| 2010 | 0.00% | 3.07% |
| 2009 | 0.00% | 1.76% |
| 2008 | 0.00% | 3.60% |
| 2007 | 0.00% | 1.95% |
| 2006 | 0.00% | 3.25% |
| 2005 | 0.00% | 2.10% |
| 2004 | 0.00% | 1.70% |
| 2003 | 0.00% | 1.79% |
| 2002 | 0.00% | 2.29% |
| 2001 | 0.00% | 2.03% |
| 2000 | 0.00% | 4.22% |
| 1999 | 0.00% | 0.62% |
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