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 -3.15%/yr vs 13.75%/yr for BTC-USD. A 0.53 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 4.48% return, which is significantly higher than BTC-USD's -28.58% return.
BKCH
- 1D
- -4.19%
- 1M
- -20.08%
- 6M
- -14.71%
- YTD
- 4.48%
- 1Y
- 16.93%
- 3Y*
- 22.21%
- 5Y*
- -3.15%
- 10Y*
- —
BTC-USD
- 1D
- -1.96%
- 1M
- -3.01%
- 6M
- -31.47%
- YTD
- -28.58%
- 1Y
- -47.54%
- 3Y*
- 27.25%
- 5Y*
- 13.75%
- 10Y*
- 57.45%
BKCH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BKCH Global X Blockchain ETF | 4.48% | 27.14% | 18.81% | 267.06% | -85.10% | -6.69% |
BTC-USD Bitcoin | -28.58% | -6.27% | 120.76% | 155.82% | -64.23% | 41.17% |
Correlation
The correlation between BKCH and BTC-USD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
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 0.47 to 0.53 - 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 | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +2.55 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.83 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | -0.90 | +1.20 |
| Martin ratioReturn relative to average drawdown | 0.53 | -1.46 | +1.98 |
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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 | -49.91% | -49.89% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -61.68% | -42.55% | -19.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.17% | 28.99% | +3.18% |
Volatility
BKCH vs. BTC-USD - Volatility Comparison
Global X Blockchain ETF (BKCH) has a higher volatility of 17.36% compared to Bitcoin (BTC-USD) at 8.86%. 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 | 17.36% | 8.86% | +8.50% |
Volatility (6M)Calculated over the trailing 6-month period | 50.68% | 34.96% | +15.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.48% | 35.56% | +34.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.30% | 43.94% | +31.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 75.30% | 56.32% | +18.98% |
Frequently Asked Questions
BKCH and BTC-USD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKCH has higher volatility (17.36%) compared to BTC-USD (8.86%). In terms of maximum drawdown, BKCH dropped -91.80% vs BTC-USD's -85.30%.
BKCH currently has the higher Sharpe Ratio (0.24 vs -1.11), 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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