BITC.AS vs. EUNM.DE
BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) and EUNM.DE (iShares MSCI EM UCITS ETF (Acc)) are both exchange-traded funds - BITC.AS is a Cryptocurrency fund actively managed by CoinShares, while EUNM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets. BITC.AS is actively managed, while EUNM.DE is passively managed. Over the past 3 years, BITC.AS returned 30.77%/yr vs 21.35%/yr for EUNM.DE. At a 0.28 correlation, their price movements are largely independent. BITC.AS charges 0.25%/yr vs 0.18%/yr for EUNM.DE.
Performance
BITC.AS vs. EUNM.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 lower than EUNM.DE's 29.28% return.
BITC.AS
- 1D
- -0.93%
- 1M
- -16.10%
- YTD
- -24.38%
- 6M
- -27.88%
- 1Y
- -39.29%
- 3Y*
- 30.77%
- 5Y*
- —
- 10Y*
- —
EUNM.DE
- 1D
- -1.02%
- 1M
- 9.85%
- YTD
- 29.28%
- 6M
- 31.52%
- 1Y
- 53.48%
- 3Y*
- 21.35%
- 5Y*
- 8.76%
- 10Y*
- 10.15%
BITC.AS vs. EUNM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITC.AS CoinShares Physical Bitcoin (BTC) ETP | -24.38% | -17.17% | 136.40% | 79.86% |
EUNM.DE iShares MSCI EM UCITS ETF (Acc) | 29.28% | 19.18% | 14.09% | -2.90% |
Correlation
The correlation between BITC.AS and EUNM.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | 0.28 |
The correlation between BITC.AS and EUNM.DE shifts across timeframes, from 0.28 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BITC.AS vs. EUNM.DE — Risk / Return Rank
BITC.AS
EUNM.DE
BITC.AS vs. EUNM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and iShares MSCI EM UCITS ETF (Acc) (EUNM.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 | EUNM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.00 | ||
| Sortino ratioReturn per unit of downside risk | -5.40 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.54 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 5.09 | -5.87 |
| Martin ratioReturn relative to average drawdown | -1.39 | 18.42 | -19.81 |
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 | EUNM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.99 | 3.01 | -4.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.39 | +0.34 |
Drawdowns
BITC.AS vs. EUNM.DE - Drawdown Comparison
The maximum BITC.AS drawdown since its inception was -49.38%, which is greater than EUNM.DE's maximum drawdown of -35.91%. Use the drawdown chart below to compare losses from any high point for BITC.AS and EUNM.DE.
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Drawdown Indicators
| BITC.AS | EUNM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.38% | -35.91% | -13.47% |
Max Drawdown (1Y)Largest decline over 1 year | -49.38% | -10.46% | -38.92% |
Max Drawdown (3Y)Largest decline over 3 years | -49.38% | -19.01% | -30.37% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.62% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.86% | — |
Current DrawdownCurrent decline from peak | -46.68% | -1.02% | -45.66% |
Average DrawdownAverage peak-to-trough decline | -13.05% | -10.55% | -2.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.15% | 2.90% | +25.25% |
Volatility
BITC.AS vs. EUNM.DE - Volatility Comparison
CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) has a higher volatility of 9.34% compared to iShares MSCI EM UCITS ETF (Acc) (EUNM.DE) at 7.33%. This indicates that BITC.AS's price experiences larger fluctuations and is considered to be riskier than EUNM.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 | EUNM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.34% | 7.33% | +2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 29.82% | 14.87% | +14.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.38% | 17.73% | +21.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.62% | 16.68% | +28.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.62% | 18.19% | +27.43% |
BITC.AS vs. EUNM.DE - Expense Ratio Comparison
BITC.AS has a 0.25% expense ratio, which is higher than EUNM.DE's 0.18% 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. EUNM.DE - Dividend Comparison
Neither BITC.AS nor EUNM.DE has paid dividends to shareholders.
Frequently Asked Questions
BITC.AS and EUNM.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNM.DE is cheaper with a 0.18% expense ratio, compared with 0.25% for BITC.AS.
BITC.AS is categorized as Cryptocurrency, while EUNM.DE is Emerging Markets Equities. They also come from different issuers: CoinShares and iShares. Their fees differ too: 0.25% for BITC.AS and 0.18% for EUNM.DE.
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