BKCH vs. BTC-USD
BKCH (Global X Blockchain ETF) is Technology Equities fund actively managed by Global X, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 3 years, BKCH returned 57.79%/yr vs 35.33%/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 43.25% return, which is significantly higher than BTC-USD's -23.17% return.
BKCH
- 1D
- -1.32%
- 1M
- 23.30%
- YTD
- 43.25%
- 6M
- 24.50%
- 1Y
- 116.23%
- 3Y*
- 57.79%
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 0.85%
- 1M
- -14.42%
- YTD
- -23.17%
- 6M
- -26.37%
- 1Y
- -36.52%
- 3Y*
- 35.33%
- 5Y*
- 12.77%
- 10Y*
- 60.98%
BKCH vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BKCH Global X Blockchain ETF | 43.25% | 27.14% | 18.81% | 267.06% | -85.10% | -1.24% |
BTC-USD Bitcoin | -23.17% | -6.27% | 120.76% | 155.82% | -64.23% | 40.82% |
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 15, 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.
| BKCH | BTC-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.67 | -0.85 | +2.53 |
Sortino ratioReturn per unit of downside risk | 2.22 | -1.14 | +3.35 |
Omega ratioGain probability vs. loss probability | 1.26 | 0.88 | +0.38 |
Calmar ratioReturn relative to maximum drawdown | 2.24 | -1.07 | +3.31 |
Martin ratioReturn relative to average drawdown | 4.18 | -1.57 | +5.75 |
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
| BKCH | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.67 | -0.85 | +2.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.24 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 1.14 | -1.10 |
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% | -49.65% | -6.63% |
Max Drawdown (3Y)Largest decline over 3 years | -57.99% | -49.65% | -8.34% |
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 | -31.32% | -46.10% | +14.78% |
Average DrawdownAverage peak-to-trough decline | -62.15% | -42.27% | -19.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.21% | 33.71% | -3.50% |
Volatility
BKCH vs. BTC-USD - Volatility Comparison
Global X Blockchain ETF (BKCH) has a higher volatility of 17.99% compared to Bitcoin (BTC-USD) at 9.90%. 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 | 17.99% | 9.90% | +8.09% |
Volatility (6M)Calculated over the trailing 6-month period | 51.47% | 33.98% | +17.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.93% | 35.37% | +34.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.44% | 45.01% | +30.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 75.44% | 56.68% | +18.76% |
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 (17.99%) compared to BTC-USD (9.90%). In terms of maximum drawdown, BKCH dropped -91.80% vs BTC-USD's -85.30%.
BKCH currently has the higher Sharpe Ratio (1.67 vs -0.85), 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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