21BC.DE vs. IB1T.DE

Last updated Apr 3, 2026

Compare and contrast key facts about 21Shares Bitcoin Core ETP (21BC.DE) and iShares Bitcoin ETP (IB1T.DE).

21BC.DE and IB1T.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 21BC.DE is an actively managed fund by 21Shares. It was launched on Jun 29, 2022. IB1T.DE is an actively managed fund by iShares. It was launched on Mar 18, 2025.

Performance

21BC.DE vs. IB1T.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in 21Shares Bitcoin Core ETP (21BC.DE) and iShares Bitcoin ETP (IB1T.DE). The values are adjusted to include any dividend payments, if applicable.

21BC.DE vs. IB1T.DE - Yearly Performance Comparison

	2026 (YTD)	2025
21BC.DE 21Shares Bitcoin Core ETP	-22.68%	-8.32%
IB1T.DE iShares Bitcoin ETP	-22.63%	-15.22%

Returns By Period

The year-to-date returns for both investments are quite close, with 21BC.DE having a -22.68% return and IB1T.DE slightly higher at -22.63%.

21BC.DE

• 1D: -15.35%
• 1M: -1.94%
• YTD: -22.68%
• 6M: -43.42%
• 1Y: -27.88%
• 3Y*: 30.68%
• 5Y*: —
• 10Y*: —

IB1T.DE

• 1D: -2.27%
• 1M: -1.97%
• YTD: -22.63%
• 6M: -43.44%
• 1Y: -28.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

21BC.DE vs. IB1T.DE - Expense Ratio Comparison

21BC.DE has a 0.10% expense ratio, which is lower than IB1T.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IB1T.DE

iShares Bitcoin ETP

21BC.DE

21Shares Bitcoin Core ETP

Return for Risk

21BC.DE vs. IB1T.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

21BC.DE

21BC.DE Risk / Return Rank: 4
21BC.DE Sharpe Ratio Rank: 3
21BC.DE Sortino Ratio Rank: 3
21BC.DE Omega Ratio Rank: 4
21BC.DE Calmar Ratio Rank: 5
21BC.DE Martin Ratio Rank: 4

IB1T.DE

IB1T.DE Risk / Return Rank: 3
IB1T.DE Sharpe Ratio Rank: 2
IB1T.DE Sortino Ratio Rank: 2
IB1T.DE Omega Ratio Rank: 3
IB1T.DE Calmar Ratio Rank: 5
IB1T.DE Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

21BC.DE vs. IB1T.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Bitcoin Core ETP (21BC.DE) and iShares Bitcoin ETP (IB1T.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	21BC.DE	IB1T.DE	Difference
Sharpe ratio Return per unit of total volatility	-0.60	-0.69	+0.09
Sortino ratio Return per unit of downside risk	-0.67	-0.84	+0.17
Omega ratio Gain probability vs. loss probability	0.92	0.91	+0.01
Calmar ratio Return relative to maximum drawdown	-0.44	-0.44	0.00
Martin ratio Return relative to average drawdown	-0.95	-0.94	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

21BC.DE vs. IB1T.DE - Sharpe Ratio Comparison

The current 21BC.DE Sharpe Ratio is -0.60, which is comparable to the IB1T.DE Sharpe Ratio of -0.69. The chart below compares the historical Sharpe Ratios of 21BC.DE and IB1T.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	21BC.DE	IB1T.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.60	-0.69	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	-0.83	+1.37

Correlation

The correlation between 21BC.DE and IB1T.DE is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

21BC.DE vs. IB1T.DE - Dividend Comparison

Neither 21BC.DE nor IB1T.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

21BC.DE vs. IB1T.DE - Drawdown Comparison

The maximum 21BC.DE drawdown since its inception was -49.40%, roughly equal to the maximum IB1T.DE drawdown of -49.39%. Use the drawdown chart below to compare losses from any high point for 21BC.DE and IB1T.DE.

Drawdown Indicators

	21BC.DE	IB1T.DE	Difference
Max Drawdown Largest peak-to-trough decline	-49.40%	-49.39%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-49.40%	-49.39%	-0.01%
Current Drawdown Current decline from peak	-45.92%	-45.95%	+0.03%
Average Drawdown Average peak-to-trough decline	-12.94%	-17.36%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.10%	23.18%	-0.08%

Volatility

21BC.DE vs. IB1T.DE - Volatility Comparison

21Shares Bitcoin Core ETP (21BC.DE) has a higher volatility of 26.26% compared to iShares Bitcoin ETP (IB1T.DE) at 11.48%. This indicates that 21BC.DE's price experiences larger fluctuations and is considered to be riskier than IB1T.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	21BC.DE	IB1T.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.26%	11.48%	+14.78%
Volatility (6M) Calculated over the trailing 6-month period	39.72%	32.35%	+7.37%
Volatility (1Y) Calculated over the trailing 1-year period	46.32%	40.28%	+6.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.49%	40.73%	+7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.49%	40.73%	+7.76%