BITC.DE vs. SMH
BITC.DE (CoinShares Physical Bitcoin (BTC) EUR ETP) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - BITC.DE is a Cryptocurrency fund actively managed by CoinShares, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. BITC.DE is actively managed, while SMH is passively managed. Over the past 3 years, BITC.DE returned 30.09%/yr vs 56.38%/yr for SMH. At a 0.25 correlation, their price movements are largely independent. BITC.DE charges 0.25%/yr vs 0.35%/yr for SMH.
Performance
BITC.DE vs. SMH - Performance Comparison
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Different Trading Currencies
BITC.DE is traded in EUR, while SMH is traded in USD. To make them comparable, the SMH values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, BITC.DE achieves a -26.37% return, which is significantly lower than SMH's 74.80% return.
BITC.DE
- 1D
- -3.77%
- 1M
- -19.18%
- YTD
- -26.37%
- 6M
- -28.36%
- 1Y
- -39.95%
- 3Y*
- 30.09%
- 5Y*
- —
- 10Y*
- —
SMH
- 1D
- 1.81%
- 1M
- 12.01%
- YTD
- 74.80%
- 6M
- 78.21%
- 1Y
- 141.63%
- 3Y*
- 56.38%
- 5Y*
- 39.69%
- 10Y*
- 37.05%
BITC.DE vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITC.DE CoinShares Physical Bitcoin (BTC) EUR ETP | -26.37% | -16.94% | 129.58% | 149.42% | -63.64% | 40.79% |
SMH VanEck Semiconductor ETF | 74.80% | 31.47% | 48.28% | 68.18% | -29.41% | 32.08% |
Correlation
The correlation between BITC.DE and SMH is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2021 | 0.25 |
The correlation between BITC.DE and SMH shifts across timeframes, from 0.22 (3 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BITC.DE vs. SMH — Risk / Return Rank
BITC.DE
SMH
BITC.DE vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BTC) EUR ETP (BITC.DE) and VanEck Semiconductor ETF (SMH). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BITC.DE | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.20 | ||
| Sortino ratioReturn per unit of downside risk | -5.78 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.60 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 11.14 | -11.96 |
| Martin ratioReturn relative to average drawdown | -1.44 | 37.26 | -38.70 |
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Drawdowns
BITC.DE vs. SMH - Drawdown Comparison
The maximum BITC.DE drawdown since its inception was -74.39%, which is greater than SMH's maximum drawdown of -54.92%. Use the drawdown chart below to compare losses from any high point for BITC.DE and SMH.
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Drawdown Indicators
| BITC.DE | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.39% | -54.92% | -19.47% |
Max Drawdown (1Y)Largest decline over 1 year | -49.43% | -12.35% | -37.08% |
Max Drawdown (3Y)Largest decline over 3 years | -49.43% | -36.90% | -12.53% |
Max Drawdown (5Y)Largest decline over 5 years | -74.39% | -36.90% | -37.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.90% | — |
Current DrawdownCurrent decline from peak | -48.65% | -2.56% | -46.09% |
Average DrawdownAverage peak-to-trough decline | -32.17% | -10.76% | -21.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.17% | 3.69% | +24.48% |
Volatility
BITC.DE vs. SMH - Volatility Comparison
The current volatility for CoinShares Physical Bitcoin (BTC) EUR ETP (BITC.DE) is 9.92%, while VanEck Semiconductor ETF (SMH) has a volatility of 15.46%. This indicates that BITC.DE experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITC.DE | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.92% | 15.46% | -5.54% |
Volatility (6M)Calculated over the trailing 6-month period | 31.32% | 26.61% | +4.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.71% | 32.74% | +7.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.71% | 34.71% | +18.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.71% | 32.68% | +20.03% |
BITC.DE vs. SMH - Expense Ratio Comparison
BITC.DE has a 0.25% expense ratio, which is lower than SMH's 0.35% expense ratio.
Dividends
BITC.DE vs. SMH - Dividend Comparison
BITC.DE has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITC.DE CoinShares Physical Bitcoin (BTC) EUR ETP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.18% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Frequently Asked Questions
BITC.DE and SMH have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BITC.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BITC.DE is cheaper with a 0.25% expense ratio, compared with 0.35% for SMH.
BITC.DE is categorized as Cryptocurrency, while SMH is Semiconductors. They also come from different issuers: CoinShares and VanEck. Their fees differ too: 0.25% for BITC.DE and 0.35% for SMH.
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