BKCG.L vs. BTC-USD

Last updated Apr 3, 2026

Compare and contrast key facts about Global X Blockchain UCITS ETF USD Accumulating (BKCG.L) and Bitcoin (BTC-USD).

BKCG.L is a passively managed fund by Global X that tracks the performance of the MSCI World/Information Tech NR USD. It was launched on Jan 21, 2022.

Performance

BKCG.L vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Blockchain UCITS ETF USD Accumulating (BKCG.L) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

BKCG.L vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BKCG.L Global X Blockchain UCITS ETF USD Accumulating	-11.95%	23.16%	6.98%	308.24%	-77.39%
BTC-USD Bitcoin	-20.87%	-12.95%	125.81%	140.73%	-49.90%

Different Trading Currencies

BKCG.L is traded in GBP, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, BKCG.L achieves a -11.95% return, which is significantly higher than BTC-USD's -20.87% return.

BKCG.L

• 1D: -0.52%
• 1M: -7.43%
• YTD: -11.95%
• 6M: -35.17%
• 1Y: 65.54%
• 3Y*: 42.26%
• 5Y*: —
• 10Y*: —

BTC-USD

• 1D: 0.00%
• 1M: 0.44%
• YTD: -20.87%
• 6M: -42.75%
• 1Y: -19.02%
• 3Y*: 31.89%
• 5Y*: 3.80%
• 10Y*: 67.59%

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

Return for Risk

BKCG.L vs. BTC-USD — Risk / Return Rank

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

BKCG.L

BKCG.L Risk / Return Rank: 46
BKCG.L Sharpe Ratio Rank: 50
BKCG.L Sortino Ratio Rank: 56
BKCG.L Omega Ratio Rank: 43
BKCG.L Calmar Ratio Rank: 50
BKCG.L Martin Ratio Rank: 29

BTC-USD

BTC-USD Risk / Return Rank: 39
BTC-USD Sharpe Ratio Rank: 66
BTC-USD Sortino Ratio Rank: 60
BTC-USD Omega Ratio Rank: 59
BTC-USD Calmar Ratio Rank: 12
BTC-USD Martin Ratio Rank: 0

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.

BKCG.L vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain UCITS ETF USD Accumulating (BKCG.L) and Bitcoin (BTC-USD). 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.

	BKCG.L	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	0.96	-0.44	+1.40
Sortino ratio Return per unit of downside risk	1.56	-0.37	+1.93
Omega ratio Gain probability vs. loss probability	1.18	0.96	+0.23
Calmar ratio Return relative to maximum drawdown	1.52	-1.08	+2.60
Martin ratio Return relative to average drawdown	3.08	-1.97	+5.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKCG.L vs. BTC-USD - Sharpe Ratio Comparison

The current BKCG.L Sharpe Ratio is 0.96, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of BKCG.L and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BKCG.L	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	-0.44	+1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.07	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	1.21	-1.18

Correlation

The correlation between BKCG.L and BTC-USD is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BKCG.L vs. BTC-USD - Drawdown Comparison

The maximum BKCG.L drawdown since its inception was -82.56%, roughly equal to the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for BKCG.L and BTC-USD.

Drawdown Indicators

	BKCG.L	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-82.56%	-85.30%	+2.74%
Max Drawdown (1Y) Largest decline over 1 year	-54.08%	-49.65%	-4.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-76.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-51.82%	-46.47%	-5.35%
Average Drawdown Average peak-to-trough decline	-43.80%	-42.00%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.71%	27.75%	-1.04%

Volatility

BKCG.L vs. BTC-USD - Volatility Comparison

Global X Blockchain UCITS ETF USD Accumulating (BKCG.L) has a higher volatility of 15.22% compared to Bitcoin (BTC-USD) at 13.30%. This indicates that BKCG.L's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKCG.L	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.22%	13.30%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	52.80%	34.98%	+17.82%
Volatility (1Y) Calculated over the trailing 1-year period	68.03%	36.08%	+31.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.84%	46.46%	+28.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.84%	56.09%	+18.75%