BITC.AS vs. NQSE.DE
BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) and NQSE.DE (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - BITC.AS is a Cryptocurrency fund actively managed by CoinShares, while NQSE.DE is a Nasdaq-100 fund tracking the NASDAQ-100 Index. BITC.AS is actively managed, while NQSE.DE is passively managed. Over the past 3 years, BITC.AS returned 29.34%/yr vs 25.27%/yr for NQSE.DE. At a 0.32 correlation, their price movements are largely independent. BITC.AS charges 0.25%/yr vs 0.33%/yr for NQSE.DE.
Performance
BITC.AS vs. NQSE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BITC.AS achieves a -27.10% return, which is significantly lower than NQSE.DE's 17.82% return.
BITC.AS
- 1D
- -3.60%
- 1M
- -21.05%
- YTD
- -27.10%
- 6M
- -31.00%
- 1Y
- -40.51%
- 3Y*
- 29.34%
- 5Y*
- —
- 10Y*
- —
NQSE.DE
- 1D
- -0.77%
- 1M
- 8.32%
- YTD
- 17.82%
- 6M
- 17.54%
- 1Y
- 36.74%
- 3Y*
- 25.27%
- 5Y*
- 14.91%
- 10Y*
- —
BITC.AS vs. NQSE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITC.AS CoinShares Physical Bitcoin (BTC) ETP | -27.10% | -17.17% | 136.40% | 79.86% |
NQSE.DE iShares NASDAQ 100 UCITS ETF | 17.82% | 18.16% | 24.07% | 39.86% |
Correlation
The correlation between BITC.AS and NQSE.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | 0.32 |
The correlation between BITC.AS and NQSE.DE shifts across timeframes, from 0.32 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BITC.AS vs. NQSE.DE — Risk / Return Rank
BITC.AS
NQSE.DE
BITC.AS vs. NQSE.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 NASDAQ 100 UCITS ETF (NQSE.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 | NQSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.30 | ||
| Sortino ratioReturn per unit of downside risk | -4.67 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.39 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 3.08 | -3.89 |
| Martin ratioReturn relative to average drawdown | -1.43 | 10.77 | -12.19 |
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 | NQSE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.02 | 2.28 | -3.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.82 | -0.11 |
Drawdowns
BITC.AS vs. NQSE.DE - Drawdown Comparison
The maximum BITC.AS drawdown since its inception was -49.38%, which is greater than NQSE.DE's maximum drawdown of -37.67%. Use the drawdown chart below to compare losses from any high point for BITC.AS and NQSE.DE.
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Drawdown Indicators
| BITC.AS | NQSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.38% | -37.67% | -11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -49.38% | -11.87% | -37.51% |
Max Drawdown (3Y)Largest decline over 3 years | -49.38% | -22.40% | -26.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.67% | — |
Current DrawdownCurrent decline from peak | -48.60% | -0.84% | -47.76% |
Average DrawdownAverage peak-to-trough decline | -13.09% | -8.56% | -4.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.31% | 3.40% | +24.91% |
Volatility
BITC.AS vs. NQSE.DE - Volatility Comparison
CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) has a higher volatility of 9.70% compared to iShares NASDAQ 100 UCITS ETF (NQSE.DE) at 4.75%. This indicates that BITC.AS's price experiences larger fluctuations and is considered to be riskier than NQSE.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 | NQSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.70% | 4.75% | +4.95% |
Volatility (6M)Calculated over the trailing 6-month period | 29.08% | 11.99% | +17.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.42% | 16.05% | +23.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.64% | 20.91% | +24.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.64% | 21.54% | +24.10% |
BITC.AS vs. NQSE.DE - Expense Ratio Comparison
BITC.AS has a 0.25% expense ratio, which is lower than NQSE.DE's 0.33% expense ratio.
Dividends
BITC.AS vs. NQSE.DE - Dividend Comparison
Neither BITC.AS nor NQSE.DE has paid dividends to shareholders.
Frequently Asked Questions
BITC.AS and NQSE.DE have a correlation of 0.43, 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 0.33% for NQSE.DE.
BITC.AS is categorized as Cryptocurrency, while NQSE.DE is Nasdaq-100. They also come from different issuers: CoinShares and iShares. Their fees differ too: 0.25% for BITC.AS and 0.33% for NQSE.DE.
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