BITC.AS vs. VUAA.DE

Last updated Jun 5, 2026

BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) and VUAA.DE (Vanguard S&P 500 UCITS USD Acc ETF) are both exchange-traded funds - BITC.AS is a Cryptocurrency fund actively managed by CoinShares, while VUAA.DE is a S&P 500 fund tracking the S&P 500 Index. BITC.AS is actively managed, while VUAA.DE is passively managed. Over the past 3 years, BITC.AS returned 29.34%/yr vs 18.87%/yr for VUAA.DE. At a 0.33 correlation, their price movements are largely independent. BITC.AS charges 0.25%/yr vs 0.07%/yr for VUAA.DE.

Performance

BITC.AS vs. VUAA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and Vanguard S&P 500 UCITS USD Acc ETF (VUAA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITC.AS achieves a -27.10% return, which is significantly lower than VUAA.DE's 11.41% return.

BITC.AS

• 1D: -3.60%
• 1M: -21.05%
• YTD: -27.10%
• 6M: -31.00%
• 1Y: -40.51%
• 3Y*: 29.34%
• 5Y*: —
• 10Y*: —

VUAA.DE

• 1D: -0.12%
• 1M: 5.23%
• YTD: 11.41%
• 6M: 11.44%
• 1Y: 25.64%
• 3Y*: 18.87%
• 5Y*: 14.77%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BITC.AS vs. VUAA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BITC.AS CoinShares Physical Bitcoin (BTC) ETP	-27.10%	-17.17%	136.40%	79.86%
VUAA.DE Vanguard S&P 500 UCITS USD Acc ETF	11.41%	4.68%	32.33%	18.51%

Correlation

The correlation between BITC.AS and VUAA.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	0.34
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023	0.33

The correlation between BITC.AS and VUAA.DE shifts across timeframes, from 0.33 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BITC.AS vs. VUAA.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITC.AS

BITC.AS Risk / Return Rank: 2
BITC.AS Sharpe Ratio Rank: 1
BITC.AS Sortino Ratio Rank: 2
BITC.AS Omega Ratio Rank: 2
BITC.AS Calmar Ratio Rank: 2
BITC.AS Martin Ratio Rank: 2

VUAA.DE

VUAA.DE Risk / Return Rank: 69
VUAA.DE Sharpe Ratio Rank: 68
VUAA.DE Sortino Ratio Rank: 66
VUAA.DE Omega Ratio Rank: 70
VUAA.DE Calmar Ratio Rank: 73
VUAA.DE Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITC.AS vs. VUAA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and Vanguard S&P 500 UCITS USD Acc ETF (VUAA.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	VUAA.DE	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	2.20	-3.22
Sortino ratio: Return per unit of downside risk	-1.50	2.99	-4.49
Omega ratio: Gain probability vs. loss probability	0.84	1.41	-0.58
Calmar ratio: Return relative to maximum drawdown	-0.81	3.56	-4.38
Martin ratio: Return relative to average drawdown	-1.43	12.74	-14.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITC.AS vs. VUAA.DE - Sharpe Ratio Comparison

The current BITC.AS Sharpe Ratio is -1.02, which is lower than the VUAA.DE Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of BITC.AS and VUAA.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITC.AS	VUAA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	2.20	-3.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.81	-0.11

Drawdowns

BITC.AS vs. VUAA.DE - Drawdown Comparison

The maximum BITC.AS drawdown since its inception was -49.38%, which is greater than VUAA.DE's maximum drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for BITC.AS and VUAA.DE.

Drawdown Indicators

	BITC.AS	VUAA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-49.38%	-33.67%	-15.71%
Max Drawdown (1Y) Largest decline over 1 year	-49.38%	-7.16%	-42.22%
Max Drawdown (3Y) Largest decline over 3 years	-49.38%	-23.33%	-26.05%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.33%	—
Current Drawdown Current decline from peak	-48.60%	-0.45%	-48.15%
Average Drawdown Average peak-to-trough decline	-13.09%	-5.07%	-8.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.31%	2.01%	+26.30%

Volatility

BITC.AS vs. VUAA.DE - Volatility Comparison

CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) has a higher volatility of 9.70% compared to Vanguard S&P 500 UCITS USD Acc ETF (VUAA.DE) at 2.65%. This indicates that BITC.AS's price experiences larger fluctuations and is considered to be riskier than VUAA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITC.AS	VUAA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.70%	2.65%	+7.05%
Volatility (6M) Calculated over the trailing 6-month period	29.08%	7.61%	+21.47%
Volatility (1Y) Calculated over the trailing 1-year period	39.42%	11.58%	+27.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.64%	15.12%	+30.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.64%	17.59%	+28.05%

BITC.AS vs. VUAA.DE - Expense Ratio Comparison

BITC.AS has a 0.25% expense ratio, which is higher than VUAA.DE's 0.07% 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. VUAA.DE - Dividend Comparison

Neither BITC.AS nor VUAA.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BITC.AS and VUAA.DE in my portfolio?

BITC.AS and VUAA.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.

Which ETF is better, BITC.AS or VUAA.DE?

On fees, VUAA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITC.AS or VUAA.DE?

VUAA.DE is cheaper with a 0.07% expense ratio, compared with 0.25% for BITC.AS.

What is the main difference between BITC.AS and VUAA.DE?

BITC.AS is categorized as Cryptocurrency, while VUAA.DE is S&P 500. They also come from different issuers: CoinShares and Vanguard. Their fees differ too: 0.25% for BITC.AS and 0.07% for VUAA.DE.