2BTC.DE vs. ETL2.DE
2BTC.DE (21Shares Bitcoin ETP) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - 2BTC.DE is a Cryptocurrency fund actively managed by 21Shares, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. 2BTC.DE is actively managed, while ETL2.DE is passively managed. Over the past 5 years, 2BTC.DE returned 11.03%/yr vs 13.12%/yr for ETL2.DE. At a 0.09 correlation, their price movements are largely independent. 2BTC.DE charges 1.49%/yr vs 0.30%/yr for ETL2.DE.
Performance
2BTC.DE vs. ETL2.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, 2BTC.DE achieves a -26.93% return, which is significantly lower than ETL2.DE's 18.23% return.
2BTC.DE
- 1D
- -3.67%
- 1M
- -21.27%
- YTD
- -26.93%
- 6M
- -31.43%
- 1Y
- -41.35%
- 3Y*
- 28.78%
- 5Y*
- 11.03%
- 10Y*
- —
ETL2.DE
- 1D
- -1.24%
- 1M
- -1.51%
- YTD
- 18.23%
- 6M
- 19.58%
- 1Y
- 28.45%
- 3Y*
- 10.87%
- 5Y*
- 13.12%
- 10Y*
- 8.17%
2BTC.DE vs. ETL2.DE - 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% |
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 18.23% | 4.89% | 11.54% | -9.44% | 24.86% | 46.17% | 8.67% |
Correlation
The correlation between 2BTC.DE and ETL2.DE 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 | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2020 | 0.09 |
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. ETL2.DE — Risk / Return Rank
2BTC.DE
ETL2.DE
2BTC.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Bitcoin ETP (2BTC.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.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.
| 2BTC.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -4.02 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.33 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 3.59 | -4.42 |
| Martin ratioReturn relative to average drawdown | -1.45 | 8.20 | -9.65 |
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 | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 1.87 | -2.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.84 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.25 | +0.36 |
Drawdowns
2BTC.DE vs. ETL2.DE - Drawdown Comparison
The maximum 2BTC.DE drawdown since its inception was -74.55%, which is greater than ETL2.DE's maximum drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for 2BTC.DE and ETL2.DE.
Loading charts...
Drawdown Indicators
| 2BTC.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.55% | -47.04% | -27.51% |
Max Drawdown (1Y)Largest decline over 1 year | -49.73% | -7.90% | -41.83% |
Max Drawdown (3Y)Largest decline over 3 years | -49.73% | -15.06% | -34.67% |
Max Drawdown (5Y)Largest decline over 5 years | -74.55% | -23.27% | -51.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.50% | — |
Current DrawdownCurrent decline from peak | -49.12% | -3.57% | -45.55% |
Average DrawdownAverage peak-to-trough decline | -30.26% | -21.90% | -8.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.45% | 3.46% | +24.99% |
Volatility
2BTC.DE vs. ETL2.DE - Volatility Comparison
21Shares Bitcoin ETP (2BTC.DE) has a higher volatility of 9.87% compared to L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) at 4.60%. This indicates that 2BTC.DE's price experiences larger fluctuations and is considered to be riskier than ETL2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| 2BTC.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.87% | 4.60% | +5.27% |
Volatility (6M)Calculated over the trailing 6-month period | 31.32% | 12.74% | +18.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.83% | 15.15% | +24.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.82% | 15.44% | +37.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.93% | 13.69% | +44.24% |
2BTC.DE vs. ETL2.DE - Expense Ratio Comparison
2BTC.DE has a 1.49% expense ratio, which is higher than ETL2.DE's 0.30% expense ratio.
Dividends
2BTC.DE vs. ETL2.DE - Dividend Comparison
Neither 2BTC.DE nor ETL2.DE has paid dividends to shareholders.
Frequently Asked Questions
2BTC.DE and ETL2.DE 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, ETL2.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETL2.DE is cheaper with a 0.30% expense ratio, compared with 1.49% for 2BTC.DE.
2BTC.DE is categorized as Cryptocurrency, while ETL2.DE is Commodities. They also come from different issuers: 21Shares and Legal & General. Their fees differ too: 1.49% for 2BTC.DE and 0.30% for ETL2.DE.
Find the right allocation for 2BTC.DE and ETL2.DE
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