BITC.AS vs. IBIT
BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. BITC.AS is actively managed, while IBIT is passively managed. Over the past year, BITC.AS returned -39.29% vs -39.96% for IBIT. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
BITC.AS vs. IBIT - Performance Comparison
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Different Trading Currencies
BITC.AS is traded in EUR, while IBIT is traded in USD. To make them comparable, the IBIT values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with BITC.AS having a -24.38% return and IBIT slightly lower at -24.59%.
BITC.AS
- 1D
- -0.93%
- 1M
- -16.10%
- YTD
- -24.38%
- 6M
- -27.88%
- 1Y
- -39.29%
- 3Y*
- 30.77%
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -2.55%
- 1M
- -17.92%
- YTD
- -24.59%
- 6M
- -29.46%
- 1Y
- -39.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITC.AS vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BITC.AS CoinShares Physical Bitcoin (BTC) ETP | -24.38% | -17.17% | 115.20% |
IBIT iShares Bitcoin Trust ETF | -24.59% | -17.52% | 111.13% |
Correlation
The correlation between BITC.AS and IBIT is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.74 |
The correlation between BITC.AS and IBIT has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.
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Return for Risk
BITC.AS vs. IBIT — Risk / Return Rank
BITC.AS
IBIT
BITC.AS vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.85 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.81 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.41 | +0.02 |
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 | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.99 | -0.92 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.24 | +0.49 |
Drawdowns
BITC.AS vs. IBIT - Drawdown Comparison
The maximum BITC.AS drawdown since its inception was -49.38%, roughly equal to the maximum IBIT drawdown of -49.64%. Use the drawdown chart below to compare losses from any high point for BITC.AS and IBIT.
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Drawdown Indicators
| BITC.AS | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.38% | -49.64% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -49.38% | -49.64% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -49.38% | — | — |
Current DrawdownCurrent decline from peak | -46.68% | -47.63% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -13.05% | -16.44% | +3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.15% | 28.32% | -0.17% |
Volatility
BITC.AS vs. IBIT - Volatility Comparison
CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 9.34% and 9.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITC.AS | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.34% | 9.33% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 29.82% | 34.24% | -4.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.38% | 43.42% | -4.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.62% | 50.18% | -4.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.62% | 50.18% | -4.56% |
BITC.AS vs. IBIT - Expense Ratio Comparison
Both BITC.AS and IBIT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BITC.AS vs. IBIT - Dividend Comparison
Neither BITC.AS nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
BITC.AS and IBIT have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BITC.AS and IBIT have the same expense ratio: 0.25% per year.
They also come from different issuers: CoinShares and iShares.
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