BITC.AS vs. IBCJ.DE
BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both exchange-traded funds - BITC.AS is a Cryptocurrency fund actively managed by CoinShares, while IBCJ.DE is a Europe Equities fund tracking the MSCI Poland. BITC.AS is actively managed, while IBCJ.DE is passively managed. Over the past 3 years, BITC.AS returned 30.77%/yr vs 29.89%/yr for IBCJ.DE. At a 0.18 correlation, their price movements are largely independent. BITC.AS charges 0.25%/yr vs 0.74%/yr for IBCJ.DE.
Performance
BITC.AS vs. IBCJ.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 IBCJ.DE's 16.30% return.
BITC.AS
- 1D
- -0.93%
- 1M
- -16.10%
- YTD
- -24.38%
- 6M
- -27.88%
- 1Y
- -39.29%
- 3Y*
- 30.77%
- 5Y*
- —
- 10Y*
- —
IBCJ.DE
- 1D
- 0.17%
- 1M
- 5.66%
- YTD
- 16.30%
- 6M
- 25.77%
- 1Y
- 38.98%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
BITC.AS vs. IBCJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITC.AS CoinShares Physical Bitcoin (BTC) ETP | -24.38% | -17.17% | 136.40% | 79.86% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 34.56% |
Correlation
The correlation between BITC.AS and IBCJ.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | 0.18 |
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Return for Risk
BITC.AS vs. IBCJ.DE — Risk / Return Rank
BITC.AS
IBCJ.DE
BITC.AS vs. IBCJ.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 Poland UCITS ETF USD (Acc) (IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.78 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.28 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 3.90 | -4.68 |
| Martin ratioReturn relative to average drawdown | -1.39 | 9.60 | -10.99 |
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 | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.99 | 1.65 | -2.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.15 | +0.59 |
Drawdowns
BITC.AS vs. IBCJ.DE - Drawdown Comparison
The maximum BITC.AS drawdown since its inception was -49.38%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for BITC.AS and IBCJ.DE.
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Drawdown Indicators
| BITC.AS | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.38% | -56.11% | +6.73% |
Max Drawdown (1Y)Largest decline over 1 year | -49.38% | -9.96% | -39.42% |
Max Drawdown (3Y)Largest decline over 3 years | -49.38% | -18.47% | -30.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.11% | — |
Current DrawdownCurrent decline from peak | -46.68% | -1.16% | -45.52% |
Average DrawdownAverage peak-to-trough decline | -13.05% | -19.38% | +6.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.15% | 4.05% | +24.10% |
Volatility
BITC.AS vs. IBCJ.DE - Volatility Comparison
CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) has a higher volatility of 9.34% compared to iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) at 7.13%. This indicates that BITC.AS's price experiences larger fluctuations and is considered to be riskier than IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.34% | 7.13% | +2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 29.82% | 17.61% | +12.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.38% | 23.48% | +15.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.62% | 26.72% | +18.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.62% | 25.15% | +20.47% |
BITC.AS vs. IBCJ.DE - Expense Ratio Comparison
BITC.AS has a 0.25% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
BITC.AS vs. IBCJ.DE - Dividend Comparison
Neither BITC.AS nor IBCJ.DE has paid dividends to shareholders.
Frequently Asked Questions
BITC.AS and IBCJ.DE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BITC.AS is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BITC.AS is cheaper with a 0.25% expense ratio, compared with 0.74% for IBCJ.DE.
BITC.AS is categorized as Cryptocurrency, while IBCJ.DE is Europe Equities. They also come from different issuers: CoinShares and iShares. Their fees differ too: 0.25% for BITC.AS and 0.74% for IBCJ.DE.
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