BKCN.L vs. BTCI
BKCN.L (WisdomTree Blockchain UCITS ETF USD Accumulating) and BTCI (NEOS Bitcoin High Income ETF) are both Cryptocurrency funds. BKCN.L is passively managed, while BTCI is actively managed. Over the past year, BKCN.L returned 25.83% vs -38.68% for BTCI. A 0.50 correlation means they provide meaningful diversification when combined. BKCN.L charges 0.45%/yr vs 0.99%/yr for BTCI.
Performance
BKCN.L vs. BTCI - Performance Comparison
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Different Trading Currencies
BKCN.L is traded in GBp, while BTCI is traded in USD. To make them comparable, the BTCI values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, BKCN.L achieves a 13.73% return, which is significantly higher than BTCI's -28.39% return.
BKCN.L
- 1D
- 0.00%
- 1M
- -1.32%
- YTD
- 13.73%
- 6M
- 8.66%
- 1Y
- 25.83%
- 3Y*
- 41.63%
- 5Y*
- —
- 10Y*
- —
BTCI
- 1D
- -1.10%
- 1M
- -19.49%
- YTD
- -28.39%
- 6M
- -28.00%
- 1Y
- -38.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BKCN.L vs. BTCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BKCN.L WisdomTree Blockchain UCITS ETF USD Accumulating | 13.73% | 9.09% | 27.37% |
BTCI NEOS Bitcoin High Income ETF | -28.39% | -8.14% | 31.16% |
Correlation
The correlation between BKCN.L and BTCI is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024 | 0.50 |
The correlation between BKCN.L and BTCI has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
BKCN.L vs. BTCI — Risk / Return Rank
BKCN.L
BTCI
BKCN.L vs. BTCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Blockchain UCITS ETF USD Accumulating (BKCN.L) and NEOS Bitcoin High Income ETF (BTCI). 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.
| BKCN.L | BTCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.84 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.49 | -0.83 | +1.32 |
| Martin ratioReturn relative to average drawdown | 0.76 | -1.43 | +2.19 |
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Drawdowns
BKCN.L vs. BTCI - Drawdown Comparison
The maximum BKCN.L drawdown since its inception was -62.33%, which is greater than BTCI's maximum drawdown of -47.02%. Use the drawdown chart below to compare losses from any high point for BKCN.L and BTCI.
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Drawdown Indicators
| BKCN.L | BTCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.33% | -47.02% | -15.31% |
Max Drawdown (1Y)Largest decline over 1 year | -52.69% | -47.02% | -5.67% |
Max Drawdown (3Y)Largest decline over 3 years | -52.69% | — | — |
Current DrawdownCurrent decline from peak | -37.37% | -47.02% | +9.65% |
Average DrawdownAverage peak-to-trough decline | -29.40% | -17.00% | -12.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.95% | 27.07% | +6.88% |
Volatility
BKCN.L vs. BTCI - Volatility Comparison
WisdomTree Blockchain UCITS ETF USD Accumulating (BKCN.L) and NEOS Bitcoin High Income ETF (BTCI) have volatilities of 12.76% and 12.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKCN.L | BTCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.76% | 12.40% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 31.17% | 30.26% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.21% | 38.70% | +27.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.32% | 39.71% | +24.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.32% | 39.71% | +24.61% |
BKCN.L vs. BTCI - Expense Ratio Comparison
BKCN.L has a 0.45% expense ratio, which is lower than BTCI's 0.99% expense ratio.
Dividends
BKCN.L vs. BTCI - Dividend Comparison
BKCN.L has not paid dividends to shareholders, while BTCI's dividend yield for the trailing twelve months is around 45.80%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BKCN.L WisdomTree Blockchain UCITS ETF USD Accumulating | 0.00% | 0.00% | 0.00% |
BTCI NEOS Bitcoin High Income ETF | 45.80% | 36.46% | 6.76% |
Frequently Asked Questions
BKCN.L and BTCI have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BKCN.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BKCN.L is cheaper with a 0.45% expense ratio, compared with 0.99% for BTCI.
They also come from different issuers: WisdomTree and Neos. Their fees differ too: 0.45% for BKCN.L and 0.99% for BTCI.
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