BCHS.L vs. BCHN.L

Last updated Jun 5, 2026

BCHS.L (Invesco CoinShares Global Blockchain UCITS ETF Acc) and BCHN.L (Invesco Elwood Global Blockchain Ucits ETF) are both Technology Equities funds from Invesco tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, BCHS.L returned 12.62%/yr vs 12.56%/yr for BCHN.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.

Performance

BCHS.L vs. BCHN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) and Invesco Elwood Global Blockchain Ucits ETF (BCHN.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BCHS.L is traded in GBp, while BCHN.L is traded in USD. To make them comparable, the BCHN.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with BCHS.L having a 26.66% return and BCHN.L slightly lower at 26.33%.

BCHS.L

• 1D: -1.63%
• 1M: 10.46%
• YTD: 26.66%
• 6M: 16.86%
• 1Y: 61.41%
• 3Y*: 42.48%
• 5Y*: 12.62%
• 10Y*: —

BCHN.L

• 1D: -2.12%
• 1M: 11.59%
• YTD: 26.33%
• 6M: 15.67%
• 1Y: 62.79%
• 3Y*: 42.30%
• 5Y*: 12.56%
• 10Y*: —

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

BCHS.L vs. BCHN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BCHS.L Invesco CoinShares Global Blockchain UCITS ETF Acc	26.66%	35.24%	18.50%	58.28%	-46.25%	26.00%	89.05%	13.21%
BCHN.L Invesco Elwood Global Blockchain Ucits ETF	26.33%	35.13%	19.35%	58.07%	-46.32%	25.15%	90.66%	12.63%

Correlation

The correlation between BCHS.L and BCHN.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019	0.93

The correlation between BCHS.L and BCHN.L has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

BCHS.L vs. BCHN.L - Sectors Allocation Comparison

Sectors	BCHS.L	BCHN.L
Financial Services	57.4%	53.0%
Technology	30.6%	32.8%
Consumer Cyclical	6.4%	7.6%
Communication Services	3.9%	4.1%
Utilities	1.2%	1.8%
Industrials	0.5%	0.7%
Healthcare	0.0%	-
Consumer Defensive	0.0%	-
Basic Materials	0.0%	-
Energy	0.0%	-
Real Estate	0.0%	-

Return for Risk

BCHS.L vs. BCHN.L — Risk / Return Rank

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

BCHS.L

BCHS.L Risk / Return Rank: 41
BCHS.L Sharpe Ratio Rank: 48
BCHS.L Sortino Ratio Rank: 45
BCHS.L Omega Ratio Rank: 41
BCHS.L Calmar Ratio Rank: 43
BCHS.L Martin Ratio Rank: 30

BCHN.L

BCHN.L Risk / Return Rank: 39
BCHN.L Sharpe Ratio Rank: 44
BCHN.L Sortino Ratio Rank: 43
BCHN.L Omega Ratio Rank: 39
BCHN.L Calmar Ratio Rank: 40
BCHN.L Martin Ratio Rank: 29

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.

BCHS.L vs. BCHN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) and Invesco Elwood Global Blockchain Ucits ETF (BCHN.L). 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.

	BCHS.L	BCHN.L	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.57	+0.06
Sortino ratio: Return per unit of downside risk	2.19	2.17	+0.02
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.07	2.04	+0.03
Martin ratio: Return relative to average drawdown	4.20	4.13	+0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCHS.L vs. BCHN.L - Sharpe Ratio Comparison

The current BCHS.L Sharpe Ratio is 1.63, which is comparable to the BCHN.L Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of BCHS.L and BCHN.L, 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

	BCHS.L	BCHN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	1.57	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.34	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.68	+0.03

Drawdowns

BCHS.L vs. BCHN.L - Drawdown Comparison

The maximum BCHS.L drawdown since its inception was -55.89%, roughly equal to the maximum BCHN.L drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for BCHS.L and BCHN.L.

Drawdown Indicators

	BCHS.L	BCHN.L	Difference
Max Drawdown Largest peak-to-trough decline	-55.89%	-56.11%	+0.22%
Max Drawdown (1Y) Largest decline over 1 year	-29.49%	-30.67%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-35.64%	-36.79%	+1.15%
Max Drawdown (5Y) Largest decline over 5 years	-55.89%	-56.11%	+0.22%
Current Drawdown Current decline from peak	-3.94%	-4.33%	+0.39%
Average Drawdown Average peak-to-trough decline	-21.40%	-20.96%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.57%	15.16%	-0.59%

Volatility

BCHS.L vs. BCHN.L - Volatility Comparison

The current volatility for Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) is 10.49%, while Invesco Elwood Global Blockchain Ucits ETF (BCHN.L) has a volatility of 11.28%. This indicates that BCHS.L experiences smaller price fluctuations and is considered to be less risky than BCHN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCHS.L	BCHN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.49%	11.28%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	24.68%	25.98%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	37.46%	39.80%	-2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.61%	37.41%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.37%	35.31%	-0.94%

BCHS.L vs. BCHN.L - Expense Ratio Comparison

Both BCHS.L and BCHN.L have an expense ratio of 0.65%.

Dividends

BCHS.L vs. BCHN.L - Dividend Comparison

Neither BCHS.L nor BCHN.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BCHS.L and BCHN.L in my portfolio?

With a correlation of 0.92, BCHS.L and BCHN.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BCHS.L or BCHN.L?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCHS.L or BCHN.L?

BCHS.L and BCHN.L have the same expense ratio: 0.65% per year.

What is the main difference between BCHS.L and BCHN.L?

Both ETFs track MSCI World/Information Tech NR USD.