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 3 years, BKCH returned 47.96%/yr vs 27.25%/yr for BTC-USD. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
BKCH vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BKCH achieves a 32.33% return, which is significantly higher than BTC-USD's -28.07% return.
BKCH
- 1D
- -2.35%
- 1M
- -2.02%
- YTD
- 32.33%
- 6M
- 21.68%
- 1Y
- 91.74%
- 3Y*
- 47.96%
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
BKCH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BKCH Global X Blockchain ETF | 32.33% | 27.14% | 18.81% | 267.06% | -85.10% | -6.69% |
BTC-USD Bitcoin | -28.07% | -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 price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021 | 0.54 |
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 | +2.25 | ||
| Sortino ratioReturn per unit of downside risk | +3.25 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.86 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | -0.79 | +2.43 |
| Martin ratioReturn relative to average drawdown | 2.97 | -1.32 | +4.30 |
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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% | -51.21% | -5.07% |
Max Drawdown (3Y)Largest decline over 3 years | -57.99% | -51.21% | -6.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -36.56% | -49.54% | +12.98% |
Average DrawdownAverage peak-to-trough decline | -61.85% | -42.40% | -19.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.96% | 31.29% | -0.33% |
Volatility
BKCH vs. BTC-USD - Volatility Comparison
Global X Blockchain ETF (BKCH) has a higher volatility of 18.01% compared to Bitcoin (BTC-USD) at 12.23%. 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 | 18.01% | 12.23% | +5.78% |
Volatility (6M)Calculated over the trailing 6-month period | 51.29% | 34.57% | +16.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.40% | 35.70% | +34.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.41% | 44.26% | +31.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 75.41% | 56.41% | +19.00% |
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 (18.01%) compared to BTC-USD (12.23%). In terms of maximum drawdown, BKCH dropped -91.80% vs BTC-USD's -85.30%.
BKCH currently has the higher Sharpe Ratio (1.31 vs -0.94), 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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