BCHS.L vs. KROP.L
BCHS.L (Invesco CoinShares Global Blockchain UCITS ETF Acc) and KROP.L (Global X AgTech & Food Innovation UCITS ETF USD Acc) are both Technology Equities funds - BCHS.L tracks the MSCI World/Information Tech NR USD while KROP.L tracks the Global X AgTech & Food Innovation UCITS ETF USD Acc. Both are passively managed. Over the past 3 years, BCHS.L returned 32.47%/yr vs -2.13%/yr for KROP.L. At a 0.37 correlation, their price movements are largely independent. BCHS.L charges 0.65%/yr vs 0.50%/yr for KROP.L.
Performance
BCHS.L vs. KROP.L - Performance Comparison
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Different Trading Currencies
BCHS.L is traded in GBp, while KROP.L is traded in USD. To make them comparable, the KROP.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with BCHS.L having a 14.01% return and KROP.L slightly higher at 14.46%.
BCHS.L
- 1D
- -2.03%
- 1M
- -11.29%
- 6M
- 1.37%
- YTD
- 14.01%
- 1Y
- 22.19%
- 3Y*
- 32.47%
- 5Y*
- 10.86%
- 10Y*
- —
KROP.L
- 1D
- 0.73%
- 1M
- 1.36%
- 6M
- 5.27%
- YTD
- 14.46%
- 1Y
- 10.82%
- 3Y*
- -2.13%
- 5Y*
- —
- 10Y*
- —
BCHS.L vs. KROP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BCHS.L Invesco CoinShares Global Blockchain UCITS ETF Acc | 14.01% | 35.24% | 18.50% | 58.28% | -39.26% |
KROP.L Global X AgTech & Food Innovation UCITS ETF USD Acc | 14.46% | -0.05% | -6.73% | -26.39% | -15.16% |
Correlation
The correlation between BCHS.L and KROP.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.37 |
Over the past year, the correlation between BCHS.L and KROP.L has dropped to 0.16 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
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Return for Risk
BCHS.L vs. KROP.L — Risk / Return Rank
BCHS.L
KROP.L
BCHS.L vs. KROP.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 Global X AgTech & Food Innovation UCITS ETF USD Acc (KROP.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BCHS.L | KROP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.12 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 1.28 | -0.53 |
| Martin ratioReturn relative to average drawdown | 1.48 | 2.39 | -0.91 |
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Drawdowns
BCHS.L vs. KROP.L - Drawdown Comparison
The maximum BCHS.L drawdown since its inception was -55.89%, which is greater than KROP.L's maximum drawdown of -50.76%. Use the drawdown chart below to compare losses from any high point for BCHS.L and KROP.L.
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Drawdown Indicators
| BCHS.L | KROP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.89% | -50.76% | -5.13% |
Max Drawdown (1Y)Largest decline over 1 year | -29.49% | -8.40% | -21.09% |
Max Drawdown (3Y)Largest decline over 3 years | -35.64% | -26.67% | -8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -55.89% | — | — |
Current DrawdownCurrent decline from peak | -14.69% | -39.29% | +24.60% |
Average DrawdownAverage peak-to-trough decline | -22.88% | -34.56% | +11.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.93% | 4.52% | +10.41% |
Volatility
BCHS.L vs. KROP.L - Volatility Comparison
Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) has a higher volatility of 9.46% compared to Global X AgTech & Food Innovation UCITS ETF USD Acc (KROP.L) at 4.70%. This indicates that BCHS.L's price experiences larger fluctuations and is considered to be riskier than KROP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCHS.L | KROP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.46% | 4.70% | +4.76% |
Volatility (6M)Calculated over the trailing 6-month period | 26.51% | 13.26% | +13.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.79% | 16.77% | +22.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.42% | 20.21% | +18.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.48% | 20.21% | +16.27% |
BCHS.L vs. KROP.L - Expense Ratio Comparison
BCHS.L has a 0.65% expense ratio, which is higher than KROP.L's 0.50% expense ratio.
Dividends
BCHS.L vs. KROP.L - Dividend Comparison
Neither BCHS.L nor KROP.L has paid dividends to shareholders.
Frequently Asked Questions
BCHS.L and KROP.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KROP.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KROP.L is cheaper with a 0.50% expense ratio, compared with 0.65% for BCHS.L.
BCHS.L tracks MSCI World/Information Tech NR USD, while KROP.L tracks Global X AgTech & Food Innovation UCITS ETF USD Acc. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.65% for BCHS.L and 0.50% for KROP.L.
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