BTCE.DE vs. 21XL.DE
BTCE.DE (Bitwise Physical Bitcoin ETP) and 21XL.DE (21Shares Chainlink ETP) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BTCE.DE returned 25.27%/yr vs 0.39%/yr for 21XL.DE. Their 0.72 correlation means they have sometimes moved together and sometimes differently. BTCE.DE charges 2.00%/yr vs 2.50%/yr for 21XL.DE.
Performance
BTCE.DE vs. 21XL.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 21XL.DE's -34.31% 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%
21XL.DE
- 1D
- 0.00%
- 1M
- 2.22%
- 6M
- -9.59%
- YTD
- -34.31%
- 1Y
- -50.95%
- 3Y*
- 0.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -18.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
21XL.DE 21Shares Chainlink ETP | €5.11K | €11.65K | €22.59K |
BTCE.DE Bitwise Physical Bitcoin ETP | €508.71K | €595.77K | €1.12M |
BTCE.DE vs. 21XL.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% |
21XL.DE 21Shares Chainlink ETP | -34.31% | -48.85% | 35.52% | 175.51% | -66.98% |
Correlation
The correlation between BTCE.DE and 21XL.DE is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022 | 0.72 |
The correlation between BTCE.DE and 21XL.DE shifts across timeframes, from 0.72 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTCE.DE vs. 21XL.DE — Risk / Return Rank
BTCE.DE
21XL.DE
BTCE.DE vs. 21XL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Physical Bitcoin ETP (BTCE.DE) and 21Shares Chainlink ETP (21XL.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 | 21XL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.89 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.70 | -0.14 |
| Martin ratioReturn relative to average drawdown | -1.27 | -0.93 | -0.34 |
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Drawdowns
BTCE.DE vs. 21XL.DE - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, smaller than the maximum 21XL.DE drawdown of -78.57%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and 21XL.DE.
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Drawdown Indicators
| BTCE.DE | 21XL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -78.57% | +3.95% |
Max Drawdown (1Y)Largest decline over 1 year | -53.06% | -72.90% | +19.84% |
Max Drawdown (3Y)Largest decline over 3 years | -53.06% | -78.57% | +25.51% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.09% | -75.92% | +26.83% |
Average DrawdownAverage peak-to-trough decline | -30.88% | -47.83% | +16.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.01% | 54.82% | -19.81% |
Volatility
BTCE.DE vs. 21XL.DE - Volatility Comparison
The current volatility for Bitwise Physical Bitcoin ETP (BTCE.DE) is 8.48%, while 21Shares Chainlink ETP (21XL.DE) has a volatility of 12.46%. This indicates that BTCE.DE experiences smaller price fluctuations and is considered to be less risky than 21XL.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 | 21XL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 12.46% | -3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 28.87% | 39.14% | -10.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.94% | 68.54% | -27.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.69% | 85.02% | -34.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.53% | 85.02% | -27.49% |
BTCE.DE vs. 21XL.DE - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is lower than 21XL.DE's 2.50% expense ratio.
Dividends
BTCE.DE vs. 21XL.DE - Dividend Comparison
Neither BTCE.DE nor 21XL.DE has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and 21XL.DE have a correlation of 0.86, 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 21XL.DE.
They also come from different issuers: Bitwise and 21Shares. Their fees differ too: 2.00% for BTCE.DE and 2.50% for 21XL.DE.
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