AXTZ.DE vs. VETH.DE
AXTZ.DE (21Shares Tezos ETP) and VETH.DE (VanEck Ethereum ETN) are both Cryptocurrency funds. AXTZ.DE is actively managed, while VETH.DE is passively managed. Over the past 3 years, AXTZ.DE returned -32.63%/yr vs -4.01%/yr for VETH.DE. A 0.72 correlation means they provide meaningful diversification when combined. AXTZ.DE charges 2.50%/yr vs 1.00%/yr for VETH.DE.
Performance
AXTZ.DE vs. VETH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AXTZ.DE achieves a -43.40% return, which is significantly lower than VETH.DE's -39.67% return.
AXTZ.DE
- 1D
- -6.73%
- 1M
- -24.32%
- YTD
- -43.40%
- 6M
- -41.00%
- 1Y
- -52.54%
- 3Y*
- -32.63%
- 5Y*
- —
- 10Y*
- —
VETH.DE
- 1D
- -3.74%
- 1M
- -23.74%
- YTD
- -39.67%
- 6M
- -41.55%
- 1Y
- -32.43%
- 3Y*
- -4.01%
- 5Y*
- -7.06%
- 10Y*
- —
AXTZ.DE vs. VETH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AXTZ.DE 21Shares Tezos ETP | -43.40% | -66.56% | 36.70% | 47.10% | -82.80% | -24.96% |
VETH.DE VanEck Ethereum ETN | -39.67% | -21.95% | 52.69% | 89.80% | -66.32% | 24.27% |
Correlation
The correlation between AXTZ.DE and VETH.DE is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.72 |
The correlation between AXTZ.DE and VETH.DE has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.
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Return for Risk
AXTZ.DE vs. VETH.DE — Risk / Return Rank
AXTZ.DE
VETH.DE
AXTZ.DE vs. VETH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Tezos ETP (AXTZ.DE) and VanEck Ethereum ETN (VETH.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.
| AXTZ.DE | VETH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.94 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.55 | -0.18 |
| Martin ratioReturn relative to average drawdown | -1.09 | -0.93 | -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
| AXTZ.DE | VETH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.69 | -0.57 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.56 | -0.02 | -0.53 |
Drawdowns
AXTZ.DE vs. VETH.DE - Drawdown Comparison
The maximum AXTZ.DE drawdown since its inception was -96.49%, which is greater than VETH.DE's maximum drawdown of -76.77%. Use the drawdown chart below to compare losses from any high point for AXTZ.DE and VETH.DE.
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Drawdown Indicators
| AXTZ.DE | VETH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.49% | -76.77% | -19.72% |
Max Drawdown (1Y)Largest decline over 1 year | -73.59% | -61.72% | -11.87% |
Max Drawdown (3Y)Largest decline over 3 years | -85.06% | -64.62% | -20.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.77% | — |
Current DrawdownCurrent decline from peak | -96.49% | -64.08% | -32.41% |
Average DrawdownAverage peak-to-trough decline | -82.47% | -43.71% | -38.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.91% | 36.40% | +12.51% |
Volatility
AXTZ.DE vs. VETH.DE - Volatility Comparison
21Shares Tezos ETP (AXTZ.DE) has a higher volatility of 15.03% compared to VanEck Ethereum ETN (VETH.DE) at 10.16%. This indicates that AXTZ.DE's price experiences larger fluctuations and is considered to be riskier than VETH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AXTZ.DE | VETH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.03% | 10.16% | +4.87% |
Volatility (6M)Calculated over the trailing 6-month period | 39.53% | 42.41% | -2.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.77% | 59.68% | +18.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.40% | 68.20% | +16.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.40% | 71.44% | +12.96% |
AXTZ.DE vs. VETH.DE - Expense Ratio Comparison
AXTZ.DE has a 2.50% expense ratio, which is higher than VETH.DE's 1.00% expense ratio.
Dividends
AXTZ.DE vs. VETH.DE - Dividend Comparison
Neither AXTZ.DE nor VETH.DE has paid dividends to shareholders.
Frequently Asked Questions
AXTZ.DE and VETH.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VETH.DE is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VETH.DE is cheaper with a 1.00% expense ratio, compared with 2.50% for AXTZ.DE.
They also come from different issuers: 21Shares and VanEck. Their fees differ too: 2.50% for AXTZ.DE and 1.00% for VETH.DE.
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