BLCH.DE vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Blockchain UCITS ETF USD Accumulating (BLCH.DE) and Bitcoin (BTC-USD).

BLCH.DE is a passively managed fund by Global X that tracks the performance of the Solactive Blockchain. It was launched on Jan 21, 2022.

Performance

BLCH.DE vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Global X Blockchain UCITS ETF USD Accumulating (BLCH.DE) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

BLCH.DE vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BLCH.DE Global X Blockchain UCITS ETF USD Accumulating	-13.48%	20.01%	12.63%	318.01%	-78.59%
BTC-USD Bitcoin	-20.96%	-17.40%	136.59%	145.80%	-52.59%

Different Trading Currencies

BLCH.DE is traded in EUR, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, BLCH.DE achieves a -13.48% return, which is significantly higher than BTC-USD's -20.96% return.

BLCH.DE

• 1D: 6.53%
• 1M: -10.52%
• YTD: -13.48%
• 6M: -32.46%
• 1Y: 69.58%
• 3Y*: 41.75%
• 5Y*: —
• 10Y*: —

BTC-USD

• 1D: 0.00%
• 1M: 0.05%
• YTD: -20.96%
• 6M: -42.79%
• 1Y: -22.71%
• 3Y*: 32.15%
• 5Y*: 3.26%
• 10Y*: 66.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BLCH.DE vs. BTC-USD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BLCH.DE

BLCH.DE Risk / Return Rank: 45
BLCH.DE Sharpe Ratio Rank: 53
BLCH.DE Sortino Ratio Rank: 59
BLCH.DE Omega Ratio Rank: 47
BLCH.DE Calmar Ratio Rank: 39
BLCH.DE Martin Ratio Rank: 26

BTC-USD

BTC-USD Risk / Return Rank: 39
BTC-USD Sharpe Ratio Rank: 66
BTC-USD Sortino Ratio Rank: 60
BTC-USD Omega Ratio Rank: 59
BTC-USD Calmar Ratio Rank: 12
BTC-USD Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BLCH.DE vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain UCITS ETF USD Accumulating (BLCH.DE) 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.

	BLCH.DE	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	1.00	-0.51	+1.51
Sortino ratio Return per unit of downside risk	1.60	-0.49	+2.09
Omega ratio Gain probability vs. loss probability	1.19	0.94	+0.25
Calmar ratio Return relative to maximum drawdown	1.13	-1.08	+2.21
Martin ratio Return relative to average drawdown	2.34	-1.96	+4.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLCH.DE vs. BTC-USD - Sharpe Ratio Comparison

The current BLCH.DE Sharpe Ratio is 1.00, which is higher than the BTC-USD Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of BLCH.DE and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BLCH.DE	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	-0.51	+1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	1.19	-1.17

Correlation

The correlation between BLCH.DE and BTC-USD is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BLCH.DE vs. BTC-USD - Drawdown Comparison

The maximum BLCH.DE drawdown since its inception was -83.29%, roughly equal to the maximum BTC-USD drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for BLCH.DE and BTC-USD.

Drawdown Indicators

	BLCH.DE	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-83.29%	-85.30%	+2.01%
Max Drawdown (1Y) Largest decline over 1 year	-54.12%	-49.65%	-4.47%
Max Drawdown (5Y) Largest decline over 5 years	—	-76.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-51.13%	-46.47%	-4.66%
Average Drawdown Average peak-to-trough decline	-44.57%	-42.00%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.12%	27.75%	-1.63%

Volatility

BLCH.DE vs. BTC-USD - Volatility Comparison

Global X Blockchain UCITS ETF USD Accumulating (BLCH.DE) has a higher volatility of 18.27% compared to Bitcoin (BTC-USD) at 13.23%. This indicates that BLCH.DE'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.

Volatility by Period

	BLCH.DE	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.27%	13.23%	+5.04%
Volatility (6M) Calculated over the trailing 6-month period	54.14%	35.96%	+18.18%
Volatility (1Y) Calculated over the trailing 1-year period	69.05%	37.05%	+32.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.60%	46.68%	+27.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.60%	56.03%	+18.57%