BCHN.L vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Elwood Global Blockchain Ucits ETF (BCHN.L) and Bitcoin (BTC-USD).

BCHN.L is a passively managed fund by Invesco that tracks the performance of the MSCI World/Information Tech NR USD. It was launched on Mar 8, 2019.

Performance

BCHN.L vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Elwood Global Blockchain Ucits ETF (BCHN.L) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

BCHN.L vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BCHN.L Invesco Elwood Global Blockchain Ucits ETF	-6.71%	45.50%	17.30%	66.38%	-52.02%	23.97%	96.43%	14.95%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	86.14%

Returns By Period

In the year-to-date period, BCHN.L achieves a -6.71% return, which is significantly higher than BTC-USD's -21.63% return.

BCHN.L

• 1D: 5.09%
• 1M: -5.40%
• YTD: -6.71%
• 6M: -14.80%
• 1Y: 55.41%
• 3Y*: 32.47%
• 5Y*: 1.81%
• 10Y*: —

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

BCHN.L vs. BTC-USD — Risk / Return Rank

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

BCHN.L

BCHN.L Risk / Return Rank: 60
BCHN.L Sharpe Ratio Rank: 70
BCHN.L Sortino Ratio Rank: 71
BCHN.L Omega Ratio Rank: 57
BCHN.L Calmar Ratio Rank: 64
BCHN.L Martin Ratio Rank: 39

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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.

BCHN.L vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Elwood Global Blockchain Ucits ETF (BCHN.L) and Bitcoin (BTC-USD). 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.

	BCHN.L	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	1.29	-0.44	+1.73
Sortino ratio Return per unit of downside risk	1.86	-0.38	+2.24
Omega ratio Gain probability vs. loss probability	1.22	0.96	+0.26
Calmar ratio Return relative to maximum drawdown	1.70	-1.11	+2.81
Martin ratio Return relative to average drawdown	3.83	-1.99	+5.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCHN.L vs. BTC-USD - Sharpe Ratio Comparison

The current BCHN.L Sharpe Ratio is 1.29, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of BCHN.L and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BCHN.L	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	-0.44	+1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.05	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.19	-0.65

Correlation

The correlation between BCHN.L and BTC-USD is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BCHN.L vs. BTC-USD - Drawdown Comparison

The maximum BCHN.L drawdown since its inception was -61.69%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BCHN.L and BTC-USD.

Drawdown Indicators

	BCHN.L	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-61.69%	-85.30%	+23.61%
Max Drawdown (1Y) Largest decline over 1 year	-31.54%	-49.65%	+18.11%
Max Drawdown (5Y) Largest decline over 5 years	-61.11%	-76.67%	+15.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-28.06%	-45.02%	+16.96%
Average Drawdown Average peak-to-trough decline	-23.96%	-41.99%	+18.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.03%	27.60%	-13.57%

Volatility

BCHN.L vs. BTC-USD - Volatility Comparison

The current volatility for Invesco Elwood Global Blockchain Ucits ETF (BCHN.L) is 12.48%, while Bitcoin (BTC-USD) has a volatility of 13.58%. This indicates that BCHN.L experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCHN.L	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.48%	13.58%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	32.31%	35.98%	-3.67%
Volatility (1Y) Calculated over the trailing 1-year period	42.75%	36.76%	+5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.68%	46.90%	-8.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.57%	56.70%	-20.13%