BNXG.DE vs. BTC-USD

Last updated Apr 3, 2026

Compare and contrast key facts about Invesco CoinShares Global Blockchain UCITS ETF Acc (BNXG.DE) and Bitcoin (BTC-USD).

BNXG.DE is a passively managed fund by Invesco that tracks the performance of the CoinShares Blockchain Global Equity. It was launched on Mar 8, 2019.

Performance

BNXG.DE vs. BTC-USD - Performance Comparison

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BNXG.DE Invesco CoinShares Global Blockchain UCITS ETF Acc	-7.03%	30.08%	24.44%	61.89%	-49.28%	37.62%	73.64%	15.23%
BTC-USD Bitcoin	-22.32%	-17.40%	136.59%	145.80%	-61.85%	71.33%	271.22%	85.75%

Different Trading Currencies

BNXG.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, BNXG.DE achieves a -7.03% return, which is significantly higher than BTC-USD's -20.96% return.

BNXG.DE

• 1D: 3.14%
• 1M: -3.55%
• YTD: -7.03%
• 6M: -14.53%
• 1Y: 43.67%
• 3Y*: 29.40%
• 5Y*: 2.13%
• 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

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

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

BNXG.DE

BNXG.DE Risk / Return Rank: 50
BNXG.DE Sharpe Ratio Rank: 54
BNXG.DE Sortino Ratio Rank: 58
BNXG.DE Omega Ratio Rank: 45
BNXG.DE Calmar Ratio Rank: 59
BNXG.DE Martin Ratio Rank: 34

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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco CoinShares Global Blockchain UCITS ETF Acc (BNXG.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.

	BNXG.DE	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	1.03	-0.51	+1.55
Sortino ratio Return per unit of downside risk	1.59	-0.49	+2.08
Omega ratio Gain probability vs. loss probability	1.19	0.94	+0.24
Calmar ratio Return relative to maximum drawdown	1.78	-1.08	+2.87
Martin ratio Return relative to average drawdown	3.84	-1.96	+5.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current BNXG.DE Sharpe Ratio is 1.03, which is higher than the BTC-USD Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of BNXG.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

	BNXG.DE	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	-0.51	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.06	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.19	-0.65

Correlation

The correlation between BNXG.DE and BTC-USD is 0.29, 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

BNXG.DE vs. BTC-USD - Drawdown Comparison

The maximum BNXG.DE drawdown since its inception was -57.23%, smaller than the maximum BTC-USD drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for BNXG.DE and BTC-USD.

Drawdown Indicators

	BNXG.DE	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-57.23%	-85.30%	+28.07%
Max Drawdown (1Y) Largest decline over 1 year	-29.72%	-49.65%	+19.93%
Max Drawdown (5Y) Largest decline over 5 years	-57.23%	-76.67%	+19.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-27.51%	-46.47%	+18.96%
Average Drawdown Average peak-to-trough decline	-21.28%	-42.00%	+20.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.82%	27.75%	-13.93%

Volatility

BNXG.DE vs. BTC-USD - Volatility Comparison

The current volatility for Invesco CoinShares Global Blockchain UCITS ETF Acc (BNXG.DE) is 9.50%, while Bitcoin (BTC-USD) has a volatility of 13.23%. This indicates that BNXG.DE experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNXG.DE	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.50%	13.23%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	30.83%	35.96%	-5.13%
Volatility (1Y) Calculated over the trailing 1-year period	42.03%	37.05%	+4.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.10%	46.68%	-10.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.30%	56.03%	-20.73%