BTCE.DE vs. ALC0.DE
BTCE.DE (Bitwise Physical Bitcoin ETP) and ALC0.DE (21Shares Algorand ETP) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BTCE.DE returned 25.27%/yr vs -9.22%/yr for ALC0.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 ALC0.DE.
Performance
BTCE.DE vs. ALC0.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 lower than ALC0.DE's -21.99% 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%
ALC0.DE
- 1D
- 0.00%
- 1M
- 2.27%
- 6M
- -10.51%
- YTD
- -21.99%
- 1Y
- -62.59%
- 3Y*
- -9.22%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ALC0.DE 21Shares Algorand ETP | €20.54K | €10.67K | €18.91K |
BTCE.DE Bitwise Physical Bitcoin ETP | €508.71K | €595.77K | €1.12M |
BTCE.DE vs. ALC0.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% |
ALC0.DE 21Shares Algorand ETP | -21.99% | -69.17% | 40.48% | 38.07% | -80.26% |
Correlation
The correlation between BTCE.DE and ALC0.DE is 0.70, 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. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022 | 0.69 |
The correlation between BTCE.DE and ALC0.DE has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. ALC0.DE — Risk / Return Rank
BTCE.DE
ALC0.DE
BTCE.DE vs. ALC0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Physical Bitcoin ETP (BTCE.DE) and 21Shares Algorand ETP (ALC0.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 | ALC0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.84 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.88 | +0.04 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.16 | -0.10 |
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Drawdowns
BTCE.DE vs. ALC0.DE - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, smaller than the maximum ALC0.DE drawdown of -91.96%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and ALC0.DE.
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Drawdown Indicators
| BTCE.DE | ALC0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -91.96% | +17.34% |
Max Drawdown (1Y)Largest decline over 1 year | -53.06% | -71.63% | +18.57% |
Max Drawdown (3Y)Largest decline over 3 years | -53.06% | -87.83% | +34.77% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.09% | -90.79% | +41.70% |
Average DrawdownAverage peak-to-trough decline | -30.88% | -75.70% | +44.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.01% | 53.84% | -18.83% |
Volatility
BTCE.DE vs. ALC0.DE - Volatility Comparison
The current volatility for Bitwise Physical Bitcoin ETP (BTCE.DE) is 8.48%, while 21Shares Algorand ETP (ALC0.DE) has a volatility of 14.00%. This indicates that BTCE.DE experiences smaller price fluctuations and is considered to be less risky than ALC0.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 | ALC0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 14.00% | -5.52% |
Volatility (6M)Calculated over the trailing 6-month period | 28.87% | 49.84% | -20.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.94% | 69.24% | -28.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.69% | 88.39% | -37.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.53% | 88.39% | -30.86% |
BTCE.DE vs. ALC0.DE - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is lower than ALC0.DE's 2.50% expense ratio.
Dividends
BTCE.DE vs. ALC0.DE - Dividend Comparison
Neither BTCE.DE nor ALC0.DE has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and ALC0.DE have a correlation of 0.70, 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 ALC0.DE.
They also come from different issuers: Bitwise and 21Shares. Their fees differ too: 2.00% for BTCE.DE and 2.50% for ALC0.DE.
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