4GLD.DE vs. VBTC.PA

Last updated Jun 5, 2026

4GLD.DE (Xetra-Gold) and VBTC.PA (VanEck Bitcoin ETN A) are both exchange-traded funds - 4GLD.DE is a Gold fund tracking the LBMA Gold Price, while VBTC.PA is a Cryptocurrency fund tracking the MVIS Cryptocompare Bitcoin VWAP Close Index. Both are passively managed. Over the past 5 years, 4GLD.DE returned 19.85%/yr vs 11.58%/yr for VBTC.PA. At a 0.02 correlation, their price movements are largely independent. 4GLD.DE charges 0.00%/yr vs 1.00%/yr for VBTC.PA.

Performance

4GLD.DE vs. VBTC.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xetra-Gold (4GLD.DE) and VanEck Bitcoin ETN A (VBTC.PA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 4GLD.DE achieves a 2.80% return, which is significantly higher than VBTC.PA's -27.36% return.

4GLD.DE

• 1D: 0.57%
• 1M: -1.56%
• YTD: 2.80%
• 6M: 6.42%
• 1Y: 30.27%
• 3Y*: 28.18%
• 5Y*: 19.85%
• 10Y*: 13.36%

VBTC.PA

• 1D: -3.96%
• 1M: -21.14%
• YTD: -27.36%
• 6M: -31.38%
• 1Y: -40.99%
• 3Y*: 29.35%
• 5Y*: 11.58%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

4GLD.DE vs. VBTC.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
4GLD.DE Xetra-Gold	2.80%	49.32%	34.57%	9.32%	7.12%	2.58%
VBTC.PA VanEck Bitcoin ETN A	-27.36%	-17.91%	135.65%	144.60%	-63.85%	42.43%

Correlation

The correlation between 4GLD.DE and VBTC.PA is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 2, 2021	0.02

The correlation between 4GLD.DE and VBTC.PA shifts across timeframes, from 0.02 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

4GLD.DE vs. VBTC.PA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

4GLD.DE

4GLD.DE Risk / Return Rank: 36
4GLD.DE Sharpe Ratio Rank: 37
4GLD.DE Sortino Ratio Rank: 34
4GLD.DE Omega Ratio Rank: 40
4GLD.DE Calmar Ratio Rank: 38
4GLD.DE Martin Ratio Rank: 32

VBTC.PA

VBTC.PA Risk / Return Rank: 2
VBTC.PA Sharpe Ratio Rank: 1
VBTC.PA Sortino Ratio Rank: 1
VBTC.PA Omega Ratio Rank: 2
VBTC.PA Calmar Ratio Rank: 2
VBTC.PA Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

4GLD.DE vs. VBTC.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and VanEck Bitcoin ETN A (VBTC.PA). 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.

	4GLD.DE	VBTC.PA	Difference
Sharpe ratio: Return per unit of total volatility	1.31	-1.05	+2.35
Sortino ratio: Return per unit of downside risk	1.76	-1.56	+3.32
Omega ratio: Gain probability vs. loss probability	1.26	0.83	+0.43
Calmar ratio: Return relative to maximum drawdown	1.82	-0.82	+2.64
Martin ratio: Return relative to average drawdown	4.63	-1.44	+6.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

4GLD.DE vs. VBTC.PA - Sharpe Ratio Comparison

The current 4GLD.DE Sharpe Ratio is 1.31, which is higher than the VBTC.PA Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of 4GLD.DE and VBTC.PA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	4GLD.DE	VBTC.PA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	-1.05	+2.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	0.22	+1.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.22	+0.42

Drawdowns

4GLD.DE vs. VBTC.PA - Drawdown Comparison

The maximum 4GLD.DE drawdown since its inception was -36.79%, smaller than the maximum VBTC.PA drawdown of -74.29%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and VBTC.PA.

Drawdown Indicators

	4GLD.DE	VBTC.PA	Difference
Max Drawdown Largest peak-to-trough decline	-36.79%	-74.29%	+37.50%
Max Drawdown (1Y) Largest decline over 1 year	-16.54%	-49.44%	+32.90%
Max Drawdown (3Y) Largest decline over 3 years	-16.54%	-49.44%	+32.90%
Max Drawdown (5Y) Largest decline over 5 years	-16.54%	-74.29%	+57.75%
Max Drawdown (10Y) Largest decline over 10 years	-18.23%	—	—
Current Drawdown Current decline from peak	-14.95%	-48.88%	+33.93%
Average Drawdown Average peak-to-trough decline	-11.83%	-32.12%	+20.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.52%	28.43%	-21.91%

Volatility

4GLD.DE vs. VBTC.PA - Volatility Comparison

The current volatility for Xetra-Gold (4GLD.DE) is 5.09%, while VanEck Bitcoin ETN A (VBTC.PA) has a volatility of 9.68%. This indicates that 4GLD.DE experiences smaller price fluctuations and is considered to be less risky than VBTC.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	4GLD.DE	VBTC.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.09%	9.68%	-4.59%
Volatility (6M) Calculated over the trailing 6-month period	20.09%	28.59%	-8.50%
Volatility (1Y) Calculated over the trailing 1-year period	23.06%	38.90%	-15.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	52.76%	-36.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.37%	52.80%	-38.43%

4GLD.DE vs. VBTC.PA - Expense Ratio Comparison

4GLD.DE has a 0.00% expense ratio, which is lower than VBTC.PA's 1.00% expense ratio.

Dividends

4GLD.DE vs. VBTC.PA - Dividend Comparison

Neither 4GLD.DE nor VBTC.PA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 4GLD.DE and VBTC.PA in my portfolio?

4GLD.DE and VBTC.PA have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 4GLD.DE or VBTC.PA?

On fees, 4GLD.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 4GLD.DE or VBTC.PA?

4GLD.DE is cheaper with a 0.00% expense ratio, compared with 1.00% for VBTC.PA.

What is the main difference between 4GLD.DE and VBTC.PA?

4GLD.DE is categorized as Gold, while VBTC.PA is Cryptocurrency. 4GLD.DE tracks LBMA Gold Price, while VBTC.PA tracks MVIS Cryptocompare Bitcoin VWAP Close Index. They also come from different issuers: Deutsche Börse Commodities and VanEck. Their fees differ too: 0.00% for 4GLD.DE and 1.00% for VBTC.PA.