BITP.L vs. ESPO
BITP.L (CoinShares Physical Bitcoin) and ESPO (VanEck Vectors Video Gaming and eSports ETF) are both exchange-traded funds - BITP.L is a Cryptocurrency fund actively managed by CoinShares, while ESPO is a Large Cap Growth Equities fund tracking the MVIS Global Video Gaming and eSports Index. BITP.L is actively managed, while ESPO is passively managed. Over the past year, BITP.L returned -38.93% vs -13.26% for ESPO. At a 0.26 correlation, their price movements are largely independent. BITP.L charges 0.98%/yr vs 0.55%/yr for ESPO.
Performance
BITP.L vs. ESPO - Performance Comparison
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Different Trading Currencies
BITP.L is traded in GBP, while ESPO is traded in USD. To make them comparable, the ESPO values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, BITP.L achieves a -27.95% return, which is significantly lower than ESPO's -14.10% return.
BITP.L
- 1D
- -3.83%
- 1M
- -20.91%
- YTD
- -27.95%
- 6M
- -31.70%
- 1Y
- -38.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ESPO
- 1D
- -1.02%
- 1M
- -2.02%
- YTD
- -14.10%
- 6M
- -18.34%
- 1Y
- -13.26%
- 3Y*
- 15.20%
- 5Y*
- 7.09%
- 10Y*
- —
BITP.L vs. ESPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITP.L CoinShares Physical Bitcoin | -27.95% | -16.21% |
ESPO VanEck Vectors Video Gaming and eSports ETF | -14.10% | 15.83% |
Correlation
The correlation between BITP.L and ESPO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025 | 0.26 |
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Return for Risk
BITP.L vs. ESPO — Risk / Return Rank
BITP.L
ESPO
BITP.L vs. ESPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BITP.L) and VanEck Vectors Video Gaming and eSports ETF (ESPO). 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.
| BITP.L | ESPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.89 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.49 | -0.30 |
| Martin ratioReturn relative to average drawdown | -1.38 | -0.87 | -0.52 |
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
| BITP.L | ESPO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | -0.76 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.74 | 0.64 | -1.38 |
Drawdowns
BITP.L vs. ESPO - Drawdown Comparison
The maximum BITP.L drawdown since its inception was -49.22%, which is greater than ESPO's maximum drawdown of -39.40%. Use the drawdown chart below to compare losses from any high point for BITP.L and ESPO.
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Drawdown Indicators
| BITP.L | ESPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.22% | -39.40% | -9.82% |
Max Drawdown (1Y)Largest decline over 1 year | -49.22% | -27.08% | -22.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.04% | — |
Current DrawdownCurrent decline from peak | -48.86% | -26.37% | -22.49% |
Average DrawdownAverage peak-to-trough decline | -20.84% | -12.21% | -8.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.14% | 15.33% | +12.81% |
Volatility
BITP.L vs. ESPO - Volatility Comparison
CoinShares Physical Bitcoin (BITP.L) has a higher volatility of 9.63% compared to VanEck Vectors Video Gaming and eSports ETF (ESPO) at 4.47%. This indicates that BITP.L's price experiences larger fluctuations and is considered to be riskier than ESPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITP.L | ESPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.63% | 4.47% | +5.16% |
Volatility (6M)Calculated over the trailing 6-month period | 28.99% | 13.35% | +15.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.69% | 17.48% | +21.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.05% | 23.15% | +17.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.05% | 24.60% | +16.45% |
BITP.L vs. ESPO - Expense Ratio Comparison
BITP.L has a 0.98% expense ratio, which is higher than ESPO's 0.55% expense ratio.
Dividends
BITP.L vs. ESPO - Dividend Comparison
BITP.L has not paid dividends to shareholders, while ESPO's dividend yield for the trailing twelve months is around 1.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BITP.L CoinShares Physical Bitcoin | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ESPO VanEck Vectors Video Gaming and eSports ETF | 1.46% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
Frequently Asked Questions
BITP.L and ESPO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESPO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESPO is cheaper with a 0.55% expense ratio, compared with 0.98% for BITP.L.
BITP.L is categorized as Cryptocurrency, while ESPO is Large Cap Growth Equities. They also come from different issuers: CoinShares and VanEck. Their fees differ too: 0.98% for BITP.L and 0.55% for ESPO.
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