2BTC.DE vs. DBC
2BTC.DE (21Shares Bitcoin ETP) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - 2BTC.DE is a Cryptocurrency fund actively managed by 21Shares, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. 2BTC.DE is actively managed, while DBC is passively managed. Over the past 5 years, 2BTC.DE returned 11.03%/yr vs 13.20%/yr for DBC. At a 0.07 correlation, their price movements are largely independent. 2BTC.DE charges 1.49%/yr vs 0.85%/yr for DBC.
Performance
2BTC.DE vs. DBC - Performance Comparison
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Different Trading Currencies
2BTC.DE is traded in EUR, while DBC is traded in USD. To make them comparable, the DBC values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, 2BTC.DE achieves a -26.93% return, which is significantly lower than DBC's 33.29% return.
2BTC.DE
- 1D
- -3.67%
- 1M
- -20.97%
- YTD
- -26.93%
- 6M
- -28.54%
- 1Y
- -40.80%
- 3Y*
- 28.78%
- 5Y*
- 11.03%
- 10Y*
- —
DBC
- 1D
- -1.39%
- 1M
- -1.33%
- YTD
- 33.29%
- 6M
- 30.86%
- 1Y
- 39.73%
- 3Y*
- 10.99%
- 5Y*
- 13.20%
- 10Y*
- 8.33%
2BTC.DE vs. DBC - 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% |
DBC Invesco DB Commodity Index Tracking Fund | 33.29% | -4.72% | 8.93% | -9.01% | 26.73% | 51.93% | 8.52% |
Correlation
The correlation between 2BTC.DE and DBC is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2020 | 0.07 |
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Return for Risk
2BTC.DE vs. DBC — Risk / Return Rank
2BTC.DE
DBC
2BTC.DE vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Bitcoin ETP (2BTC.DE) and Invesco DB Commodity Index Tracking Fund (DBC). 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 | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -4.12 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.33 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 4.81 | -5.64 |
| Martin ratioReturn relative to average drawdown | -1.45 | 9.90 | -11.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 2BTC.DE | DBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 1.92 | -2.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.66 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.15 | +0.47 |
Drawdowns
2BTC.DE vs. DBC - Drawdown Comparison
The maximum 2BTC.DE drawdown since its inception was -74.55%, which is greater than DBC's maximum drawdown of -65.73%. Use the drawdown chart below to compare losses from any high point for 2BTC.DE and DBC.
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Drawdown Indicators
| 2BTC.DE | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.55% | -65.73% | -8.82% |
Max Drawdown (1Y)Largest decline over 1 year | -49.73% | -8.30% | -41.43% |
Max Drawdown (3Y)Largest decline over 3 years | -49.73% | -17.61% | -32.12% |
Max Drawdown (5Y)Largest decline over 5 years | -74.55% | -29.98% | -44.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.20% | — |
Current DrawdownCurrent decline from peak | -49.12% | -6.83% | -42.29% |
Average DrawdownAverage peak-to-trough decline | -30.26% | -35.98% | +5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.45% | 4.02% | +24.43% |
Volatility
2BTC.DE vs. DBC - Volatility Comparison
21Shares Bitcoin ETP (2BTC.DE) has a higher volatility of 9.87% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 6.32%. This indicates that 2BTC.DE's price experiences larger fluctuations and is considered to be riskier than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2BTC.DE | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.87% | 6.32% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 31.32% | 16.97% | +14.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.83% | 20.78% | +19.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.82% | 19.99% | +32.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.93% | 18.55% | +39.38% |
2BTC.DE vs. DBC - Expense Ratio Comparison
2BTC.DE has a 1.49% expense ratio, which is higher than DBC's 0.85% expense ratio.
Dividends
2BTC.DE vs. DBC - Dividend Comparison
2BTC.DE has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
2BTC.DE 21Shares Bitcoin ETP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBC Invesco DB Commodity Index Tracking Fund | 2.55% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
Frequently Asked Questions
2BTC.DE and DBC have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DBC is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBC is cheaper with a 0.85% expense ratio, compared with 1.49% for 2BTC.DE.
2BTC.DE is categorized as Cryptocurrency, while DBC is Commodities. They also come from different issuers: 21Shares and Invesco. Their fees differ too: 1.49% for 2BTC.DE and 0.85% for DBC.
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