BCHS.L vs. BTC-USD
BCHS.L (Invesco CoinShares Global Blockchain UCITS ETF Acc) is Technology Equities fund tracking the MSCI World/Information Tech NR USD, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BCHS.L returned 12.62%/yr vs 12.64%/yr for BTC-USD. At a 0.32 correlation, their price movements are largely independent.
Performance
BCHS.L vs. BTC-USD - Performance Comparison
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Different Trading Currencies
BCHS.L is traded in GBp, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, BCHS.L achieves a 26.66% return, which is significantly higher than BTC-USD's -27.31% return.
BCHS.L
- 1D
- -1.63%
- 1M
- 10.46%
- YTD
- 26.66%
- 6M
- 16.86%
- 1Y
- 61.41%
- 3Y*
- 42.48%
- 5Y*
- 12.62%
- 10Y*
- —
BTC-USD
- 1D
- -1.08%
- 1M
- -20.99%
- YTD
- -27.31%
- 6M
- -31.69%
- 1Y
- -38.94%
- 3Y*
- 31.62%
- 5Y*
- 12.64%
- 10Y*
- 60.90%
BCHS.L vs. BTC-USD - 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% |
BTC-USD Bitcoin | -27.31% | -12.95% | 125.81% | 140.73% | -59.81% | 60.91% | 292.68% | 83.02% |
Correlation
The correlation between BCHS.L and BTC-USD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019 | 0.32 |
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Return for Risk
BCHS.L vs. BTC-USD — Risk / Return Rank
BCHS.L
BTC-USD
BCHS.L vs. BTC-USD - 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 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.
| BCHS.L | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.56 | ||
| Sortino ratioReturn per unit of downside risk | +3.47 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.86 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | -0.78 | +2.85 |
| Martin ratioReturn relative to average drawdown | 4.20 | -1.39 | +5.59 |
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
| BCHS.L | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | -0.93 | +2.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.23 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.90 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 1.14 | -0.43 |
Drawdowns
BCHS.L vs. BTC-USD - Drawdown Comparison
The maximum BCHS.L drawdown since its inception was -55.89%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for BCHS.L and BTC-USD.
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Drawdown Indicators
| BCHS.L | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.89% | -84.19% | +28.30% |
Max Drawdown (1Y)Largest decline over 1 year | -29.49% | -49.84% | +20.35% |
Max Drawdown (3Y)Largest decline over 3 years | -35.64% | -49.84% | +14.20% |
Max Drawdown (5Y)Largest decline over 5 years | -55.89% | -73.24% | +17.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.15% | — |
Current DrawdownCurrent decline from peak | -3.94% | -48.98% | +45.04% |
Average DrawdownAverage peak-to-trough decline | -21.40% | -40.26% | +18.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.57% | 33.59% | -19.02% |
Volatility
BCHS.L vs. BTC-USD - Volatility Comparison
Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) and Bitcoin (BTC-USD) have volatilities of 10.49% and 10.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCHS.L | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.49% | 10.38% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 24.68% | 33.67% | -8.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.46% | 34.71% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.61% | 44.81% | -9.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.37% | 56.04% | -21.67% |
Frequently Asked Questions
BCHS.L and BTC-USD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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