2BTC.DE vs. BTC-USD
2BTC.DE (21Shares Bitcoin ETP) is Cryptocurrency fund actively managed by 21Shares, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, 2BTC.DE returned 11.03%/yr vs 12.64%/yr for BTC-USD. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
2BTC.DE vs. BTC-USD - Performance Comparison
Loading charts...
Different Trading Currencies
2BTC.DE is traded in EUR, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with 2BTC.DE having a -26.93% return and BTC-USD slightly higher at -26.25%.
2BTC.DE
- 1D
- -3.67%
- 1M
- -20.97%
- YTD
- -26.93%
- 6M
- -28.54%
- 1Y
- -40.80%
- 3Y*
- 28.78%
- 5Y*
- 11.03%
- 10Y*
- —
BTC-USD
- 1D
- 0.00%
- 1M
- -20.75%
- YTD
- -26.25%
- 6M
- -28.42%
- 1Y
- -38.10%
- 3Y*
- 29.19%
- 5Y*
- 12.64%
- 10Y*
- 59.66%
2BTC.DE vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
2BTC.DE 21Shares Bitcoin ETP | -26.93% | -17.79% | 127.95% | 147.44% | -63.76% | 82.65% | 177.87% |
BTC-USD Bitcoin | -28.60% | -17.40% | 136.59% | 145.80% | -61.85% | 71.33% | 193.31% |
Correlation
The correlation between 2BTC.DE and BTC-USD is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2020 | 0.55 |
The correlation between 2BTC.DE and BTC-USD has been stable across timeframes, ranging from 0.53 to 0.61 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
2BTC.DE vs. BTC-USD — Risk / Return Rank
2BTC.DE
BTC-USD
2BTC.DE vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Bitcoin ETP (2BTC.DE) and Bitcoin (BTC-USD). 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.
| 2BTC.DE | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.87 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.76 | -0.07 |
| Martin ratioReturn relative to average drawdown | -1.45 | -1.35 | -0.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| 2BTC.DE | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -0.90 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.23 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 1.14 | -0.52 |
Drawdowns
2BTC.DE vs. BTC-USD - Drawdown Comparison
The maximum 2BTC.DE drawdown since its inception was -74.55%, smaller than the maximum BTC-USD drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for 2BTC.DE and BTC-USD.
Loading charts...
Drawdown Indicators
| 2BTC.DE | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.55% | -83.05% | +8.50% |
Max Drawdown (1Y)Largest decline over 1 year | -49.73% | -49.93% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -49.73% | -49.93% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -74.55% | -73.60% | -0.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.51% | — |
Current DrawdownCurrent decline from peak | -49.12% | -48.40% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -30.26% | -39.96% | +9.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.45% | 33.81% | -5.36% |
Volatility
2BTC.DE vs. BTC-USD - Volatility Comparison
21Shares Bitcoin ETP (2BTC.DE) and Bitcoin (BTC-USD) have volatilities of 9.87% and 10.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| 2BTC.DE | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.87% | 10.12% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 31.32% | 34.33% | -3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.83% | 35.37% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.82% | 45.05% | +7.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.93% | 55.99% | +1.94% |
Frequently Asked Questions
2BTC.DE and BTC-USD have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for 2BTC.DE and BTC-USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer