BITC.AS vs. CDOT.DE
BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) and CDOT.DE (CoinShares Physical Staked Polkadot EUR ETP) are both Cryptocurrency funds from CoinShares. Both are actively managed. Over the past 3 years, BITC.AS returned 30.77%/yr vs -39.02%/yr for CDOT.DE. A 0.69 correlation means they provide meaningful diversification when combined. BITC.AS charges 0.25%/yr vs 0.00%/yr for CDOT.DE.
Performance
BITC.AS vs. CDOT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BITC.AS achieves a -24.38% return, which is significantly higher than CDOT.DE's -37.05% return.
BITC.AS
- 1D
- -0.93%
- 1M
- -16.10%
- YTD
- -24.38%
- 6M
- -27.88%
- 1Y
- -39.29%
- 3Y*
- 30.77%
- 5Y*
- —
- 10Y*
- —
CDOT.DE
- 1D
- 2.61%
- 1M
- -7.97%
- YTD
- -37.05%
- 6M
- -50.39%
- 1Y
- -72.75%
- 3Y*
- -39.02%
- 5Y*
- —
- 10Y*
- —
BITC.AS vs. CDOT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITC.AS CoinShares Physical Bitcoin (BTC) ETP | -24.38% | -17.17% | 136.40% | 79.86% |
CDOT.DE CoinShares Physical Staked Polkadot EUR ETP | -37.05% | -75.15% | -10.53% | 33.17% |
Correlation
The correlation between BITC.AS and CDOT.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | 0.69 |
The correlation between BITC.AS and CDOT.DE has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.
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Return for Risk
BITC.AS vs. CDOT.DE — Risk / Return Rank
BITC.AS
CDOT.DE
BITC.AS vs. CDOT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE). 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.
| BITC.AS | CDOT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.78 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.97 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.48 | +0.09 |
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
| BITC.AS | CDOT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.99 | -1.00 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | -0.59 | +1.32 |
Drawdowns
BITC.AS vs. CDOT.DE - Drawdown Comparison
The maximum BITC.AS drawdown since its inception was -49.38%, smaller than the maximum CDOT.DE drawdown of -94.53%. Use the drawdown chart below to compare losses from any high point for BITC.AS and CDOT.DE.
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Drawdown Indicators
| BITC.AS | CDOT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.38% | -94.53% | +45.15% |
Max Drawdown (1Y)Largest decline over 1 year | -49.38% | -75.24% | +25.86% |
Max Drawdown (3Y)Largest decline over 3 years | -49.38% | -90.42% | +41.04% |
Current DrawdownCurrent decline from peak | -46.68% | -94.38% | +47.70% |
Average DrawdownAverage peak-to-trough decline | -13.05% | -70.85% | +57.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.15% | 49.04% | -20.89% |
Volatility
BITC.AS vs. CDOT.DE - Volatility Comparison
The current volatility for CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) is 9.34%, while CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE) has a volatility of 16.51%. This indicates that BITC.AS experiences smaller price fluctuations and is considered to be less risky than CDOT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITC.AS | CDOT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.34% | 16.51% | -7.17% |
Volatility (6M)Calculated over the trailing 6-month period | 29.82% | 51.83% | -22.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.38% | 72.57% | -33.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.62% | 77.58% | -31.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.62% | 77.58% | -31.96% |
BITC.AS vs. CDOT.DE - Expense Ratio Comparison
BITC.AS has a 0.25% expense ratio, which is higher than CDOT.DE's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BITC.AS vs. CDOT.DE - Dividend Comparison
Neither BITC.AS nor CDOT.DE has paid dividends to shareholders.
Frequently Asked Questions
BITC.AS and CDOT.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CDOT.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CDOT.DE is cheaper with a 0.00% expense ratio, compared with 0.25% for BITC.AS.
Their fees differ too: 0.25% for BITC.AS and 0.00% for CDOT.DE.
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