BNXG.DE vs. SPYK.DE
BNXG.DE (Invesco CoinShares Global Blockchain UCITS ETF Acc) and SPYK.DE (SPDR MSCI Europe Technology UCITS ETF) are both Technology Equities funds - BNXG.DE tracks the CoinShares Blockchain Global Equity while SPYK.DE tracks the MSCI Europe Information Technology 20/35 Capped. Both are passively managed. Over the past 5 years, BNXG.DE returned 11.31%/yr vs 13.45%/yr for SPYK.DE. A 0.59 correlation means they provide meaningful diversification when combined. BNXG.DE charges 0.65%/yr vs 0.18%/yr for SPYK.DE.
Performance
BNXG.DE vs. SPYK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BNXG.DE achieves a 21.53% return, which is significantly lower than SPYK.DE's 44.14% return.
BNXG.DE
- 1D
- -3.01%
- 1M
- -3.12%
- YTD
- 21.53%
- 6M
- 20.21%
- 1Y
- 42.80%
- 3Y*
- 40.73%
- 5Y*
- 11.31%
- 10Y*
- —
SPYK.DE
- 1D
- 1.00%
- 1M
- 2.43%
- YTD
- 44.14%
- 6M
- 45.93%
- 1Y
- 55.99%
- 3Y*
- 24.01%
- 5Y*
- 13.45%
- 10Y*
- 16.97%
BNXG.DE vs. SPYK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BNXG.DE Invesco CoinShares Global Blockchain UCITS ETF Acc | 21.53% | 30.08% | 24.44% | 61.89% | -49.28% | 37.62% | 73.66% | 4.40% |
SPYK.DE SPDR MSCI Europe Technology UCITS ETF | 44.14% | 10.46% | 8.46% | 35.03% | -28.76% | 36.64% | 13.36% | 22.29% |
Correlation
The correlation between BNXG.DE and SPYK.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.59 |
The correlation between BNXG.DE and SPYK.DE has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
BNXG.DE vs. SPYK.DE — Risk / Return Rank
BNXG.DE
SPYK.DE
BNXG.DE vs. SPYK.DE - 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 SPDR MSCI Europe Technology UCITS ETF (SPYK.DE). 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.
| BNXG.DE | SPYK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.34 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 4.38 | -2.94 |
| Martin ratioReturn relative to average drawdown | 2.89 | 11.62 | -8.73 |
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Drawdowns
BNXG.DE vs. SPYK.DE - Drawdown Comparison
The maximum BNXG.DE drawdown since its inception was -57.23%, which is greater than SPYK.DE's maximum drawdown of -38.45%. Use the drawdown chart below to compare losses from any high point for BNXG.DE and SPYK.DE.
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Drawdown Indicators
| BNXG.DE | SPYK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.23% | -38.45% | -18.78% |
Max Drawdown (1Y)Largest decline over 1 year | -29.72% | -12.73% | -16.99% |
Max Drawdown (3Y)Largest decline over 3 years | -38.54% | -27.02% | -11.52% |
Max Drawdown (5Y)Largest decline over 5 years | -57.23% | -38.45% | -18.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.45% | — |
Current DrawdownCurrent decline from peak | -9.08% | -4.05% | -5.03% |
Average DrawdownAverage peak-to-trough decline | -21.19% | -8.54% | -12.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.78% | 4.81% | +9.97% |
Volatility
BNXG.DE vs. SPYK.DE - Volatility Comparison
Invesco CoinShares Global Blockchain UCITS ETF Acc (BNXG.DE) has a higher volatility of 12.42% compared to SPDR MSCI Europe Technology UCITS ETF (SPYK.DE) at 9.32%. This indicates that BNXG.DE's price experiences larger fluctuations and is considered to be riskier than SPYK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNXG.DE | SPYK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.42% | 9.32% | +3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 26.44% | 21.99% | +4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.77% | 26.64% | +14.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.52% | 26.02% | +10.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.65% | 24.20% | +11.45% |
BNXG.DE vs. SPYK.DE - Expense Ratio Comparison
BNXG.DE has a 0.65% expense ratio, which is higher than SPYK.DE's 0.18% expense ratio.
Dividends
BNXG.DE vs. SPYK.DE - Dividend Comparison
Neither BNXG.DE nor SPYK.DE has paid dividends to shareholders.
Frequently Asked Questions
BNXG.DE and SPYK.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYK.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYK.DE is cheaper with a 0.18% expense ratio, compared with 0.65% for BNXG.DE.
BNXG.DE tracks CoinShares Blockchain Global Equity, while SPYK.DE tracks MSCI Europe Information Technology 20/35 Capped. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.65% for BNXG.DE and 0.18% for SPYK.DE.
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