BCHG vs. AVGO

Last updated Jun 4, 2026

BCHG (Grayscale Bitcoin Cash Trust) and AVGO (Broadcom Inc.) are both stocks. BCHG operates in Asset Management (Financial Services), while AVGO operates in Semiconductors (Technology). Over the past 5 years, BCHG returned -38.75%/yr vs 61.98%/yr for AVGO. At a 0.24 correlation, their price movements are largely independent.

Performance

BCHG vs. AVGO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Cash Trust (BCHG) and Broadcom Inc. (AVGO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCHG achieves a -58.88% return, which is significantly lower than AVGO's 38.76% return.

BCHG

• 1D: -11.79%
• 1M: -42.88%
• YTD: -58.88%
• 6M: -61.63%
• 1Y: -42.88%
• 3Y*: 27.85%
• 5Y*: -38.75%
• 10Y*: —

AVGO

• 1D: -0.49%
• 1M: 15.06%
• YTD: 38.76%
• 6M: 26.42%
• 1Y: 88.09%
• 3Y*: 83.13%
• 5Y*: 61.98%
• 10Y*: 43.87%

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

BCHG vs. AVGO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BCHG Grayscale Bitcoin Cash Trust	-58.88%	-17.71%	24.56%	1,039.19%	-87.55%	-87.96%	80.81%
AVGO Broadcom Inc.	38.76%	50.63%	110.49%	104.18%	-13.27%	56.48%	35.59%

Correlation

The correlation between BCHG and AVGO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020	0.24

Fundamentals

Total Revenue (TTM) BCHG : -$61.34M AVGO : $68.28B
Gross Profit (TTM) BCHG : -$60.00M AVGO : $46.31B
EBITDA (TTM) BCHG : -$60.00M AVGO : $36.65B

Return for Risk

BCHG vs. AVGO — Risk / Return Rank

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

BCHG

BCHG Risk / Return Rank: 13
BCHG Sharpe Ratio Rank: 15
BCHG Sortino Ratio Rank: 16
BCHG Omega Ratio Rank: 18
BCHG Calmar Ratio Rank: 16
BCHG Martin Ratio Rank: 2

AVGO

AVGO Risk / Return Rank: 84
AVGO Sharpe Ratio Rank: 88
AVGO Sortino Ratio Rank: 85
AVGO Omega Ratio Rank: 83
AVGO Calmar Ratio Rank: 82
AVGO Martin Ratio Rank: 81

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.

BCHG vs. AVGO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Cash Trust (BCHG) and Broadcom Inc. (AVGO). 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.

	BCHG	AVGO	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	2.07	-2.68
Sortino ratio: Return per unit of downside risk	-0.67	2.74	-3.41
Omega ratio: Gain probability vs. loss probability	0.93	1.34	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.67	3.09	-3.76
Martin ratio: Return relative to average drawdown	-1.77	7.42	-9.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCHG vs. AVGO - Sharpe Ratio Comparison

The current BCHG Sharpe Ratio is -0.62, which is lower than the AVGO Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of BCHG and AVGO, 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

	BCHG	AVGO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.62	2.07	-2.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	1.46	-1.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	1.14	-1.36

Drawdowns

BCHG vs. AVGO - Drawdown Comparison

The maximum BCHG drawdown since its inception was -99.36%, which is greater than AVGO's maximum drawdown of -48.30%. Use the drawdown chart below to compare losses from any high point for BCHG and AVGO.

Drawdown Indicators

	BCHG	AVGO	Difference
Max Drawdown Largest peak-to-trough decline	-99.36%	-48.30%	-51.06%
Max Drawdown (1Y) Largest decline over 1 year	-64.18%	-28.67%	-35.51%
Max Drawdown (3Y) Largest decline over 3 years	-91.79%	-41.15%	-50.64%
Max Drawdown (5Y) Largest decline over 5 years	-98.25%	-41.15%	-57.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.30%	—
Current Drawdown Current decline from peak	-96.84%	-0.49%	-96.35%
Average Drawdown Average peak-to-trough decline	-86.50%	-7.97%	-78.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.21%	11.91%	+12.30%

Volatility

BCHG vs. AVGO - Volatility Comparison

Grayscale Bitcoin Cash Trust (BCHG) has a higher volatility of 21.32% compared to Broadcom Inc. (AVGO) at 11.91%. This indicates that BCHG's price experiences larger fluctuations and is considered to be riskier than AVGO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCHG	AVGO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.32%	11.91%	+9.41%
Volatility (6M) Calculated over the trailing 6-month period	49.29%	30.70%	+18.59%
Volatility (1Y) Calculated over the trailing 1-year period	69.91%	42.95%	+26.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.72%	42.78%	+65.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	132.16%	39.18%	+92.98%

Dividends

BCHG vs. AVGO - Dividend Comparison

BCHG has not paid dividends to shareholders, while AVGO's dividend yield for the trailing twelve months is around 0.52%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVGO Broadcom Inc.	0.52%	0.70%	0.94%	1.71%	3.02%	2.24%	3.05%	3.54%	3.11%	1.87%	1.43%	1.13%
BCHG Grayscale Bitcoin Cash Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both BCHG and AVGO in my portfolio?

BCHG and AVGO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCHG or AVGO?

BCHG has higher volatility (21.32%) compared to AVGO (11.91%). In terms of maximum drawdown, BCHG dropped -99.36% vs AVGO's -48.30%.

Which has better risk-adjusted returns?

AVGO currently has the higher Sharpe Ratio (2.07 vs -0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.