BCHS.L vs. IBLC

Last updated Jun 5, 2026

BCHS.L (Invesco CoinShares Global Blockchain UCITS ETF Acc) and IBLC (iShares Blockchain and Tech ETF) are both exchange-traded funds - BCHS.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while IBLC is a Cryptocurrency fund tracking the ICE FactSet Global Blockchain Technologies Index. Both are passively managed. Over the past 3 years, BCHS.L returned 42.48%/yr vs 46.34%/yr for IBLC. A 0.59 correlation means they provide meaningful diversification when combined. BCHS.L charges 0.65%/yr vs 0.47%/yr for IBLC.

Performance

BCHS.L vs. IBLC - 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 iShares Blockchain and Tech ETF (IBLC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BCHS.L is traded in GBp, while IBLC is traded in USD. To make them comparable, the IBLC 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 lower than IBLC's 31.53% 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*: —

IBLC

• 1D: -1.01%
• 1M: 9.34%
• YTD: 31.53%
• 6M: 10.68%
• 1Y: 66.42%
• 3Y*: 46.34%
• 5Y*: —
• 10Y*: —

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

BCHS.L vs. IBLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BCHS.L Invesco CoinShares Global Blockchain UCITS ETF Acc	26.66%	35.24%	18.50%	58.28%	-34.48%
IBLC iShares Blockchain and Tech ETF	31.53%	18.00%	20.65%	186.40%	-56.21%

Correlation

The correlation between BCHS.L and IBLC is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022	0.59

The correlation between BCHS.L and IBLC has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

BCHS.L vs. IBLC - Sectors Allocation Comparison

Sectors	BCHS.L	IBLC
Financial Services	57.4%	66.6%
Technology	30.6%	30.7%
Consumer Cyclical	6.4%	0.1%
Communication Services	3.9%	2.5%
Utilities	1.2%	0.2%
Industrials	0.5%	-
Healthcare	0.0%	-
Consumer Defensive	0.0%	-
Basic Materials	0.0%	-
Energy	0.0%	-
Real Estate	0.0%	-

Return for Risk

BCHS.L vs. IBLC — 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

IBLC

IBLC Risk / Return Rank: 30
IBLC Sharpe Ratio Rank: 33
IBLC Sortino Ratio Rank: 34
IBLC Omega Ratio Rank: 32
IBLC Calmar Ratio Rank: 30
IBLC Martin Ratio Rank: 23

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. IBLC - 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 iShares Blockchain and Tech ETF (IBLC). 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	IBLC	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.25	+0.38
Sortino ratio: Return per unit of downside risk	2.19	1.83	+0.36
Omega ratio: Gain probability vs. loss probability	1.26	1.22	+0.04
Calmar ratio: Return relative to maximum drawdown	2.07	1.47	+0.60
Martin ratio: Return relative to average drawdown	4.20	2.94	+1.26
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. IBLC - Sharpe Ratio Comparison

The current BCHS.L Sharpe Ratio is 1.63, which is higher than the IBLC Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of BCHS.L and IBLC, 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	IBLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	1.25	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.37	+0.34

Drawdowns

BCHS.L vs. IBLC - Drawdown Comparison

The maximum BCHS.L drawdown since its inception was -55.89%, smaller than the maximum IBLC drawdown of -60.63%. Use the drawdown chart below to compare losses from any high point for BCHS.L and IBLC.

Drawdown Indicators

	BCHS.L	IBLC	Difference
Max Drawdown Largest peak-to-trough decline	-55.89%	-60.63%	+4.74%
Max Drawdown (1Y) Largest decline over 1 year	-29.49%	-45.50%	+16.01%
Max Drawdown (3Y) Largest decline over 3 years	-35.64%	-51.79%	+16.15%
Max Drawdown (5Y) Largest decline over 5 years	-55.89%	—	—
Current Drawdown Current decline from peak	-3.94%	-14.04%	+10.10%
Average Drawdown Average peak-to-trough decline	-21.40%	-25.25%	+3.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.57%	22.67%	-8.10%

Volatility

BCHS.L vs. IBLC - Volatility Comparison

The current volatility for Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) is 10.49%, while iShares Blockchain and Tech ETF (IBLC) has a volatility of 13.97%. This indicates that BCHS.L experiences smaller price fluctuations and is considered to be less risky than IBLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCHS.L	IBLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.49%	13.97%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	24.68%	38.94%	-14.26%
Volatility (1Y) Calculated over the trailing 1-year period	37.46%	53.41%	-15.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.61%	62.46%	-26.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.37%	62.46%	-28.09%

BCHS.L vs. IBLC - Expense Ratio Comparison

BCHS.L has a 0.65% expense ratio, which is higher than IBLC's 0.47% expense ratio.

Dividends

BCHS.L vs. IBLC - Dividend Comparison

BCHS.L has not paid dividends to shareholders, while IBLC's dividend yield for the trailing twelve months is around 4.82%.

Position	TTM	2025	2024	2023	2022
BCHS.L Invesco CoinShares Global Blockchain UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%
IBLC iShares Blockchain and Tech ETF	4.82%	6.31%	1.60%	1.79%	0.84%

Frequently Asked Questions

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

BCHS.L and IBLC have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCHS.L or IBLC?

On fees, IBLC is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCHS.L or IBLC?

IBLC is cheaper with a 0.47% expense ratio, compared with 0.65% for BCHS.L.

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

BCHS.L is categorized as Technology Equities, while IBLC is Cryptocurrency. BCHS.L tracks MSCI World/Information Tech NR USD, while IBLC tracks ICE FactSet Global Blockchain Technologies Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.65% for BCHS.L and 0.47% for IBLC.