BKCH vs. BTC-USD
BKCH (Global X Blockchain ETF) is Blockchain fund tracking the Solactive Blockchain Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, BKCH returned -4.94%/yr vs 9.77%/yr for BTC-USD. Their 0.53 correlation means they have sometimes moved together and sometimes differently.
Performance
BKCH vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BKCH achieves a 6.53% return, which is significantly higher than BTC-USD's -27.65% return.
BKCH
- 1D
- 4.12%
- 1M
- -0.87%
- 6M
- -2.79%
- YTD
- 6.53%
- 1Y
- 29.42%
- 3Y*
- 30.73%
- 5Y*
- -4.94%
- 10Y*
- —
- ALL TIME*
- -3.83%
BTC-USD
- 1D
- -0.30%
- 1M
- 0.35%
- 6M
- -19.52%
- YTD
- -27.65%
- 1Y
- -44.57%
- 3Y*
- 29.61%
- 5Y*
- 9.77%
- 10Y*
- 59.80%
- ALL TIME*
- 87.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.80M | $3.46M | $7.83M | |
BTC-USD Bitcoin | $1541.04T | $1614.90T | $2068.30T |
BKCH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BKCH Global X Blockchain ETF | 6.53% | 27.14% | 18.81% | 267.06% | -85.10% | -6.69% |
BTC-USD Bitcoin | -27.65% | -6.27% | 120.76% | 155.82% | -64.23% | 41.17% |
Correlation
The correlation between BKCH and BTC-USD is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021 | 0.53 |
The correlation between BKCH and BTC-USD has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.
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Return for Risk
BKCH vs. BTC-USD — Risk / Return Rank
BKCH
BTC-USD
BKCH vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain ETF (BKCH) 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.
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.
| BKCH | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.85 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | -0.84 | +1.36 |
| Martin ratioReturn relative to average drawdown | 0.87 | -1.29 | +2.16 |
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Drawdowns
BKCH vs. BTC-USD - Drawdown Comparison
The maximum BKCH drawdown since its inception was -91.80%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BKCH and BTC-USD.
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Drawdown Indicators
| BKCH | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.80% | -85.30% | -6.50% |
Max Drawdown (1Y)Largest decline over 1 year | -56.28% | -53.08% | -3.20% |
Max Drawdown (3Y)Largest decline over 3 years | -57.99% | -53.08% | -4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -91.80% | -76.67% | -15.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -48.93% | -49.24% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -61.53% | -42.74% | -18.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.77% | 25.03% | +8.74% |
Volatility
BKCH vs. BTC-USD - Volatility Comparison
Global X Blockchain ETF (BKCH) has a higher volatility of 26.19% compared to Bitcoin (BTC-USD) at 8.46%. This indicates that BKCH'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.
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Volatility by Period
| BKCH | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.19% | 8.46% | +17.73% |
Volatility (6M)Calculated over the trailing 6-month period | 53.61% | 33.65% | +19.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.29% | 35.87% | +37.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.47% | 43.64% | +31.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 75.61% | 56.22% | +19.39% |
Frequently Asked Questions
BKCH and BTC-USD have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKCH has higher volatility (26.19%) compared to BTC-USD (8.46%). In terms of maximum drawdown, BKCH dropped -91.80% vs BTC-USD's -85.30%.
BKCH currently has the higher Sharpe Ratio (0.40 vs -1.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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