GBTC vs XLRE

Comparison between Grayscale Investments LLC (GBTC, ETF) and STATE STREET(R) REAL ESTATE SELECT SECTOR SPDR(R) ETF (XLRE, ETF).

5-Year PerformanceGBTC has outperformed XLRE, delivering a return of +13.7% compared to +3.0%

GBTC vs XLRE - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GBTC(ETF)	XLRE(ETF)
Net Assets	$8.10B	$8.10B
Expense Ratio	1.50%	0.08%
Max Drawdown	89.91%	39.28%
Sharpe Ratio	-1.24	0.71
5Y Beta	1.29	0.47
P/E Ratio	N/A	37.04
Forward P/E	N/A	35.71
PEG Ratio	N/A	0.92
5Y Dividends CAGR	N/A	1.94%
5Y EPS CAGR	N/A	7.20%
Debt to Equity	N/A	21.10%
P/S Ratio	N/A	6.08
P/B Ratio	N/A	3.10

Net Assets

GBTC

$8.10B

XLRE

$8.10B

Expense Ratio

GBTC

1.50%

Winner

XLRE

0.08%

Max Drawdown

GBTC

89.91%

Winner

XLRE

39.28%

Sharpe Ratio

GBTC

-1.24

Winner

XLRE

0.71

5Y Beta

GBTC

1.29

Winner

XLRE

0.47

P/E Ratio

GBTC

N/A

XLRE

37.04

Forward P/E

GBTC

N/A

XLRE

35.71

PEG Ratio

GBTC

N/A

XLRE

0.92

5Y Dividends CAGR

GBTC

N/A

XLRE

1.94%

5Y EPS CAGR

GBTC

N/A

XLRE

7.20%

Debt to Equity

GBTC

N/A

XLRE

21.10%

P/S Ratio

GBTC

N/A

XLRE

6.08

P/B Ratio

GBTC

N/A

XLRE

3.10

GBTC vs XLRE - Holdings Comparison

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

GBTC's top 25 holdings weight is 12.55%. XLRE's top 25 holdings weight is 93.06%.

Rank	GBTC	XLRE
#1	GRAYSCALE BITCOIN MINI TRUST (BTC) (BTC) - 12.55%	WELLTOWER INC (WELL) - 11.28%
#2	N/A	PROLOGIS INC (PLD) - 9.00%
#3	N/A	EQUINIX INC (EQIX) - 6.78%
#4	N/A	AMERICAN TOWER CORP (AMT) - 5.18%
#5	N/A	SIMON PROPERTY GROUP INC (SPG) - 4.95%
#6	N/A	VENTAS INC (VTR) - 4.64%
#7	N/A	REALTY INCOME CORP (O) - 4.60%
#8	N/A	DIGITAL REALTY TRUST INC (DLR) - 4.55%
#9	N/A	PUBLIC STORAGE (PSA) - 4.53%
#10	N/A	CBRE GROUP INC CLASS A (CBRE) - 4.27%
#11	N/A	IRON MOUNTAIN INC (IRM) - 3.49%
#12	N/A	CROWN CASTLE INC (CCI) - 3.42%
#13	N/A	EXTRA SPACE STORAGE INC (EXR) - 3.16%
#14	N/A	VICI PROPERTIES INC ORDINARY SHARES (VICI) - 2.97%
#15	N/A	AVALONBAY COMMUNITIES INC (AVB) - 2.75%
#16	N/A	EQUITY RESIDENTIAL (EQR) - 2.42%
#17	N/A	SBA COMMUNICATIONS CORP CLASS A (SBAC) - 1.97%
#18	N/A	ESSEX PROPERTY TRUST INC (ESS) - 1.94%
#19	N/A	KIMCO REALTY CORP (KIM) - 1.73%
#20	N/A	WEYERHAEUSER CO (WY) - 1.70%
#21	N/A	INVITATION HOMES INC (INVH) - 1.67%
#22	N/A	MID-AMERICA APARTMENT COMMUNITIES INC (MAA) - 1.67%
#23	N/A	HEALTHPEAK PROPERTIES INC (DOC) - 1.53%
#24	N/A	HOST HOTELS & RESORTS INC (HST) - 1.51%
#25	N/A	REGENCY CENTERS CORP (REG) - 1.35%
Total Holdings	1	34

GBTC vs XLRE - Historical Returns

Returns include dividend reinvestment.

Period	GBTC	XLRE
1 month	-2.22%	+1.67%
3 months	-15.11%	+4.66%
6 months	-33.25%	+9.36%
1 year	-46.99%	+12.58%
5 years(CAGR)	+13.70%	+3.05%
10 years(CAGR)	+45.40%	+6.47%
Max(CAGR)	+53.41%	+7.50%

GBTC

-2.22%

Winner

XLRE

+1.67%

GBTC

-15.11%

Winner

XLRE

+4.66%

GBTC

-33.25%

Winner

XLRE

+9.36%

GBTC

-46.99%

Winner

XLRE

+12.58%

5Y(CAGR)

Winner

GBTC

+13.70%

XLRE

+3.05%

10Y(CAGR)

Winner

GBTC

+45.40%

XLRE

+6.47%

Max(CAGR)

Winner

GBTC

+53.41%

XLRE

+7.50%

GBTC vs XLRE - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	GBTC	XLRE
2026	-29.03%	+14.31%
2025	-11.46%	+3.56%
2024	+100.87%	+4.11%
2023	+322.20%	+11.95%
2022	-75.81%	-25.56%
2021	-2.37%	+50.96%
2020	+301.00%	-0.96%
2019	+77.27%	+31.71%
2018	-84.05%	-1.81%
2017	+1558.98%	+10.33%
2016	+90.08%	+5.18%
2015	+50.01%	+4.38%

GBTC vs XLRE Drawdown Comparison

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

The maximum drawdown for XLRE was -38.80%, occurring on Mar 23, 2020. Recovery took 280 trading sessions.

The current GBTC drawdown is -49.43%.

Rank	GBTC	XLRE
#1	-89.91% Dec 18, 2017 - Jan 5, 2021	-38.80% Feb 21, 2020 - Apr 1, 2021
#2	-86.24% Feb 19, 2021 - Mar 4, 2024	-34.11% Dec 31, 2021 - Jun 9, 2026
#3	-57.96% May 5, 2015 - Dec 8, 2015	-14.65% Aug 1, 2016 - Nov 7, 2017
#4	-53.75% Oct 6, 2025 - Jun 30, 2026	-13.42% Dec 29, 2015 - Mar 17, 2016
#5	-48.42% Aug 31, 2017 - Nov 3, 2017	-12.51% Dec 6, 2018 - Jan 31, 2019
#6	-41.48% Jun 17, 2016 - Jan 3, 2017	-12.35% Nov 13, 2017 - Jul 5, 2018
#7	-36.93% Dec 15, 2015 - Apr 21, 2016	-8.32% Aug 20, 2018 - Nov 30, 2018
#8	-36.68% Jun 6, 2017 - Aug 10, 2017	-8.27% Sep 2, 2021 - Nov 3, 2021
#9	-35.04% Mar 13, 2024 - Nov 11, 2024	-6.74% Oct 21, 2019 - Jan 21, 2020
#10	-30.26% Jan 7, 2021 - Feb 8, 2021	-6.10% Oct 22, 2015 - Dec 29, 2015
#11	-28.76% Jan 4, 2017 - May 1, 2017	-5.79% May 10, 2016 - Jun 29, 2016
#12	-28.45% Dec 17, 2024 - May 21, 2025	-4.83% Jun 20, 2019 - Jul 10, 2019
#13	-19.31% May 9, 2017 - May 22, 2017	-4.80% Nov 24, 2021 - Dec 7, 2021
#14	-18.18% May 9, 2016 - May 31, 2016	-4.25% Apr 12, 2019 - May 24, 2019
#15	-15.79% Nov 3, 2017 - Nov 20, 2017	-4.04% Apr 30, 2021 - May 24, 2021

Correlation

Correlation between GBTC and XLRE is 0.80 which considered as a strong positive correlation - the stocks tend to move together.

0.80

-101

Dividend Comparison (2015 - 2026)

GBTC vs XLRE dividend yield comparison.

Year	GBTC	XLRE
2026	0.00%	1.43%
2025	0.00%	3.45%
2024	0.00%	3.43%
2023	0.00%	3.31%
2022	0.00%	3.70%
2021	0.00%	2.61%
2020	0.00%	3.15%
2019	0.00%	3.06%
2018	0.00%	3.78%
2017	5.61%	3.25%
2016	0.00%	4.22%
2015	0.00%	1.09%

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GBTC vs XLRE

GBTC vs XLRE - Performance Comparison

Key Characteristics

GBTC vs XLRE - Holdings Comparison

GBTC vs XLRE - Historical Returns

GBTC vs XLRE - Annual Returns (2015 - 2026)

GBTC vs XLRE Drawdown Comparison

Correlation

Dividend Comparison (2015 - 2026)

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