2BTC.DE vs. EXH9.DE
2BTC.DE (21Shares Bitcoin ETP) and EXH9.DE (iShares STOXX Europe 600 Utilities UCITS ETF (DE)) are both exchange-traded funds - 2BTC.DE is a Cryptocurrency fund actively managed by 21Shares, while EXH9.DE is a Utilities Equities fund tracking the STOXX® Europe 600 Utilities. 2BTC.DE is actively managed, while EXH9.DE is passively managed. Over the past 5 years, 2BTC.DE returned 11.03%/yr vs 11.76%/yr for EXH9.DE. At a 0.12 correlation, their price movements are largely independent. 2BTC.DE charges 1.49%/yr vs 0.47%/yr for EXH9.DE.
Performance
2BTC.DE vs. EXH9.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 2BTC.DE achieves a -26.93% return, which is significantly lower than EXH9.DE's 12.41% 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*
- —
EXH9.DE
- 1D
- -0.18%
- 1M
- -3.20%
- YTD
- 12.41%
- 6M
- 13.56%
- 1Y
- 25.76%
- 3Y*
- 16.47%
- 5Y*
- 11.76%
- 10Y*
- 10.74%
2BTC.DE vs. EXH9.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% |
EXH9.DE iShares STOXX Europe 600 Utilities UCITS ETF (DE) | 12.41% | 33.92% | 1.25% | 13.58% | -7.50% | 8.84% | 9.52% |
Correlation
The correlation between 2BTC.DE and EXH9.DE is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2020 | 0.12 |
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Return for Risk
2BTC.DE vs. EXH9.DE — Risk / Return Rank
2BTC.DE
EXH9.DE
2BTC.DE vs. EXH9.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Bitcoin ETP (2BTC.DE) and iShares STOXX Europe 600 Utilities UCITS ETF (DE) (EXH9.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 | EXH9.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.77 | ||
| Sortino ratioReturn per unit of downside risk | -3.84 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.32 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 3.44 | -4.27 |
| Martin ratioReturn relative to average drawdown | -1.45 | 9.54 | -10.99 |
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 | EXH9.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 1.74 | -2.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.73 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.42 | +0.20 |
Drawdowns
2BTC.DE vs. EXH9.DE - Drawdown Comparison
The maximum 2BTC.DE drawdown since its inception was -74.55%, which is greater than EXH9.DE's maximum drawdown of -51.33%. Use the drawdown chart below to compare losses from any high point for 2BTC.DE and EXH9.DE.
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Drawdown Indicators
| 2BTC.DE | EXH9.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.55% | -51.33% | -23.22% |
Max Drawdown (1Y)Largest decline over 1 year | -49.73% | -7.45% | -42.28% |
Max Drawdown (3Y)Largest decline over 3 years | -49.73% | -13.67% | -36.06% |
Max Drawdown (5Y)Largest decline over 5 years | -74.55% | -22.71% | -51.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.21% | — |
Current DrawdownCurrent decline from peak | -49.12% | -5.32% | -43.80% |
Average DrawdownAverage peak-to-trough decline | -30.26% | -16.67% | -13.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.45% | 2.69% | +25.76% |
Volatility
2BTC.DE vs. EXH9.DE - Volatility Comparison
21Shares Bitcoin ETP (2BTC.DE) has a higher volatility of 9.87% compared to iShares STOXX Europe 600 Utilities UCITS ETF (DE) (EXH9.DE) at 5.89%. This indicates that 2BTC.DE's price experiences larger fluctuations and is considered to be riskier than EXH9.DE 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 | EXH9.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.87% | 5.89% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 31.32% | 12.89% | +18.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.83% | 14.75% | +25.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.82% | 16.00% | +36.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.93% | 17.03% | +40.90% |
2BTC.DE vs. EXH9.DE - Expense Ratio Comparison
2BTC.DE has a 1.49% expense ratio, which is higher than EXH9.DE's 0.47% expense ratio.
Dividends
2BTC.DE vs. EXH9.DE - Dividend Comparison
2BTC.DE has not paid dividends to shareholders, while EXH9.DE's dividend yield for the trailing twelve months is around 2.61%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
2BTC.DE 21Shares Bitcoin ETP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EXH9.DE iShares STOXX Europe 600 Utilities UCITS ETF (DE) | 2.61% | 2.96% | 3.27% | 3.47% | 3.33% | 3.11% | 2.36% | 3.41% | 3.31% | 6.56% | 4.89% | 4.62% |
Frequently Asked Questions
2BTC.DE and EXH9.DE have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXH9.DE is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXH9.DE is cheaper with a 0.47% expense ratio, compared with 1.49% for 2BTC.DE.
2BTC.DE is categorized as Cryptocurrency, while EXH9.DE is Utilities Equities. They also come from different issuers: 21Shares and iShares. Their fees differ too: 1.49% for 2BTC.DE and 0.47% for EXH9.DE.
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