BTCE.DE vs. 21XJ.DE
BTCE.DE (Bitwise Physical Bitcoin ETP) and 21XJ.DE (21Shares Binance BNB ETP) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BTCE.DE returned 25.27%/yr vs 29.41%/yr for 21XJ.DE. Their 0.69 correlation means they have sometimes moved together and sometimes differently. BTCE.DE charges 2.00%/yr vs 2.50%/yr for 21XJ.DE.
Performance
BTCE.DE vs. 21XJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BTCE.DE achieves a -26.76% return, which is significantly higher than 21XJ.DE's -30.61% return.
BTCE.DE
- 1D
- 0.00%
- 1M
- 1.37%
- 6M
- -11.75%
- YTD
- -26.76%
- 1Y
- -44.28%
- 3Y*
- 25.27%
- 5Y*
- 7.21%
- 10Y*
- —
- ALL TIME*
- 30.04%
21XJ.DE
- 1D
- 0.00%
- 1M
- 1.19%
- 6M
- -17.91%
- YTD
- -30.61%
- 1Y
- -22.38%
- 3Y*
- 29.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
21XJ.DE 21Shares Binance BNB ETP | €9.27K | €8.40K | €31.03K |
BTCE.DE Bitwise Physical Bitcoin ETP | €508.71K | €595.77K | €1.12M |
BTCE.DE vs. 21XJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BTCE.DE Bitwise Physical Bitcoin ETP | -26.76% | -18.20% | 125.79% | 146.52% | -63.64% |
21XJ.DE 21Shares Binance BNB ETP | -30.61% | 6.81% | 124.46% | 23.94% | -45.13% |
Correlation
The correlation between BTCE.DE and 21XJ.DE is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022 | 0.69 |
The correlation between BTCE.DE and 21XJ.DE shifts across timeframes, from 0.66 (3 years) to 0.80 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTCE.DE vs. 21XJ.DE — Risk / Return Rank
BTCE.DE
21XJ.DE
BTCE.DE vs. 21XJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Physical Bitcoin ETP (BTCE.DE) and 21Shares Binance BNB ETP (21XJ.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.
| BTCE.DE | 21XJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.95 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.39 | -0.45 |
| Martin ratioReturn relative to average drawdown | -1.27 | -0.55 | -0.72 |
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Drawdowns
BTCE.DE vs. 21XJ.DE - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than 21XJ.DE's maximum drawdown of -57.98%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and 21XJ.DE.
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Drawdown Indicators
| BTCE.DE | 21XJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -57.98% | -16.64% |
Max Drawdown (1Y)Largest decline over 1 year | -53.06% | -57.98% | +4.92% |
Max Drawdown (3Y)Largest decline over 3 years | -53.06% | -57.98% | +4.92% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.09% | -54.78% | +5.69% |
Average DrawdownAverage peak-to-trough decline | -30.88% | -29.62% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.01% | 41.04% | -6.03% |
Volatility
BTCE.DE vs. 21XJ.DE - Volatility Comparison
Bitwise Physical Bitcoin ETP (BTCE.DE) has a higher volatility of 8.48% compared to 21Shares Binance BNB ETP (21XJ.DE) at 7.01%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than 21XJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCE.DE | 21XJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 7.01% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 28.87% | 28.39% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.94% | 46.43% | -5.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.69% | 53.27% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.53% | 53.27% | +4.26% |
BTCE.DE vs. 21XJ.DE - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is lower than 21XJ.DE's 2.50% expense ratio.
Dividends
BTCE.DE vs. 21XJ.DE - Dividend Comparison
Neither BTCE.DE nor 21XJ.DE has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and 21XJ.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTCE.DE is cheaper at 2.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTCE.DE is cheaper with a 2.00% expense ratio, compared with 2.50% for 21XJ.DE.
They also come from different issuers: Bitwise and 21Shares. Their fees differ too: 2.00% for BTCE.DE and 2.50% for 21XJ.DE.
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