BOLD.DE vs. CSSC.DE
BOLD.DE (21Shares Bitcoin Gold ETP) and CSSC.DE (CoinShares Physical Smart Contract Platform ETP) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BOLD.DE returned 27.91%/yr vs 9.46%/yr for CSSC.DE. A 0.55 correlation means they provide meaningful diversification when combined. BOLD.DE charges 0.65%/yr vs 0.00%/yr for CSSC.DE.
Performance
BOLD.DE vs. CSSC.DE - Performance Comparison
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Different Trading Currencies
BOLD.DE is traded in USD, while CSSC.DE is traded in EUR. To make them comparable, the CSSC.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BOLD.DE achieves a -6.72% return, which is significantly higher than CSSC.DE's -32.03% return.
BOLD.DE
- 1D
- -1.18%
- 1M
- -10.54%
- YTD
- -6.72%
- 6M
- -6.50%
- 1Y
- 2.15%
- 3Y*
- 27.91%
- 5Y*
- —
- 10Y*
- —
CSSC.DE
- 1D
- -4.41%
- 1M
- -15.85%
- YTD
- -32.03%
- 6M
- -39.06%
- 1Y
- -39.32%
- 3Y*
- 9.46%
- 5Y*
- —
- 10Y*
- —
BOLD.DE vs. CSSC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BOLD.DE 21Shares Bitcoin Gold ETP | -6.72% | 25.46% | 57.68% | 13.52% |
CSSC.DE CoinShares Physical Smart Contract Platform ETP | -32.03% | -27.25% | 41.58% | 90.26% |
Correlation
The correlation between BOLD.DE and CSSC.DE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.55 |
The correlation between BOLD.DE and CSSC.DE has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.
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Return for Risk
BOLD.DE vs. CSSC.DE — Risk / Return Rank
BOLD.DE
CSSC.DE
BOLD.DE vs. CSSC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares Bitcoin Gold ETP (BOLD.DE) and CoinShares Physical Smart Contract Platform ETP (CSSC.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.
| BOLD.DE | CSSC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.90 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | -0.63 | +0.76 |
| Martin ratioReturn relative to average drawdown | 0.31 | -1.00 | +1.31 |
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
| BOLD.DE | CSSC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.10 | -0.72 | +0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 0.16 | +1.02 |
Drawdowns
BOLD.DE vs. CSSC.DE - Drawdown Comparison
The maximum BOLD.DE drawdown since its inception was -16.73%, smaller than the maximum CSSC.DE drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for BOLD.DE and CSSC.DE.
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Drawdown Indicators
| BOLD.DE | CSSC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.73% | -61.98% | +45.25% |
Max Drawdown (1Y)Largest decline over 1 year | -16.73% | -61.98% | +45.25% |
Max Drawdown (3Y)Largest decline over 3 years | -16.73% | -61.98% | +45.25% |
Current DrawdownCurrent decline from peak | -16.73% | -61.98% | +45.25% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -26.57% | +22.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.86% | 39.26% | -32.40% |
Volatility
BOLD.DE vs. CSSC.DE - Volatility Comparison
The current volatility for 21Shares Bitcoin Gold ETP (BOLD.DE) is 5.37%, while CoinShares Physical Smart Contract Platform ETP (CSSC.DE) has a volatility of 10.54%. This indicates that BOLD.DE experiences smaller price fluctuations and is considered to be less risky than CSSC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOLD.DE | CSSC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.37% | 10.54% | -5.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.78% | 37.12% | -18.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.16% | 54.56% | -32.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.01% | 59.51% | -41.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.01% | 59.51% | -41.50% |
BOLD.DE vs. CSSC.DE - Expense Ratio Comparison
BOLD.DE has a 0.65% expense ratio, which is higher than CSSC.DE's 0.00% expense ratio.
Dividends
BOLD.DE vs. CSSC.DE - Dividend Comparison
Neither BOLD.DE nor CSSC.DE has paid dividends to shareholders.
Frequently Asked Questions
BOLD.DE and CSSC.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSSC.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSSC.DE is cheaper with a 0.00% expense ratio, compared with 0.65% for BOLD.DE.
They also come from different issuers: 21Shares and CoinShares. Their fees differ too: 0.65% for BOLD.DE and 0.00% for CSSC.DE.
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