2BTC.DE vs. HDXM.DE
Compare and contrast key facts about 21Shares Bitcoin ETP (2BTC.DE) and Hashdex Crypto Momentum Factor ETN (HDXM.DE).
2BTC.DE and HDXM.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 2BTC.DE is an actively managed fund by 21Shares. It was launched on Feb 26, 2019. HDXM.DE is a passively managed fund by Hashdex that tracks the performance of the Kaiko Hashdex Risk Parity Momentum Crypto Index. It was launched on Nov 1, 2022.
Performance
2BTC.DE vs. HDXM.DE - Performance Comparison
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2BTC.DE vs. HDXM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
2BTC.DE 21Shares Bitcoin ETP | -21.08% | -17.79% | 127.95% | 147.44% | -24.42% |
HDXM.DE Hashdex Crypto Momentum Factor ETN | -17.42% | -35.51% | 65.37% | 130.19% | -31.57% |
Returns By Period
In the year-to-date period, 2BTC.DE achieves a -21.08% return, which is significantly lower than HDXM.DE's -17.42% return.
2BTC.DE
- 1D
- 1.97%
- 1M
- -0.29%
- YTD
- -21.08%
- 6M
- -41.31%
- 1Y
- -25.76%
- 3Y*
- 29.31%
- 5Y*
- 1.80%
- 10Y*
- —
HDXM.DE
- 1D
- 1.40%
- 1M
- 3.07%
- YTD
- -17.42%
- 6M
- -45.85%
- 1Y
- -28.59%
- 3Y*
- 12.95%
- 5Y*
- —
- 10Y*
- —
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2BTC.DE vs. HDXM.DE - Expense Ratio Comparison
Both 2BTC.DE and HDXM.DE have an expense ratio of 1.49%.
Return for Risk
2BTC.DE vs. HDXM.DE — Risk / Return Rank
2BTC.DE
HDXM.DE
2BTC.DE vs. HDXM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Bitcoin ETP (2BTC.DE) and Hashdex Crypto Momentum Factor ETN (HDXM.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 | HDXM.DE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.64 | -0.62 | -0.02 |
Sortino ratioReturn per unit of downside risk | -0.73 | -0.68 | -0.05 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.92 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.55 | -0.54 | -0.01 |
Martin ratioReturn relative to average drawdown | -1.17 | -1.02 | -0.16 |
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 | HDXM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.64 | -0.62 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.19 | +0.47 |
Correlation
The correlation between 2BTC.DE and HDXM.DE is 0.78, 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
2BTC.DE vs. HDXM.DE - Dividend Comparison
Neither 2BTC.DE nor HDXM.DE has paid dividends to shareholders.
Drawdowns
2BTC.DE vs. HDXM.DE - Drawdown Comparison
The maximum 2BTC.DE drawdown since its inception was -74.55%, which is greater than HDXM.DE's maximum drawdown of -62.68%. Use the drawdown chart below to compare losses from any high point for 2BTC.DE and HDXM.DE.
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Drawdown Indicators
| 2BTC.DE | HDXM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.55% | -62.68% | -11.87% |
Max Drawdown (1Y)Largest decline over 1 year | -49.73% | -53.24% | +3.51% |
Max Drawdown (5Y)Largest decline over 5 years | -74.55% | — | — |
Current DrawdownCurrent decline from peak | -45.04% | -59.55% | +14.51% |
Average DrawdownAverage peak-to-trough decline | -29.97% | -23.80% | -6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.19% | 28.15% | -4.96% |
Volatility
2BTC.DE vs. HDXM.DE - Volatility Comparison
21Shares Bitcoin ETP (2BTC.DE) has a higher volatility of 13.21% compared to Hashdex Crypto Momentum Factor ETN (HDXM.DE) at 9.70%. This indicates that 2BTC.DE's price experiences larger fluctuations and is considered to be riskier than HDXM.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 | HDXM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.21% | 9.70% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 32.75% | 33.52% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.38% | 46.35% | -5.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.79% | 53.59% | +1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.42% | 53.59% | +4.83% |