BTCE.DE vs. BCHN.L
BTCE.DE (ETC Group Physical Bitcoin) and BCHN.L (Invesco Elwood Global Blockchain Ucits ETF) are both exchange-traded funds - BTCE.DE is a Cryptocurrency fund actively managed by ETC Issuance, while BCHN.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. BTCE.DE is actively managed, while BCHN.L is passively managed. Over the past 5 years, BTCE.DE returned 10.38%/yr vs 12.39%/yr for BCHN.L. A 0.62 correlation means they provide meaningful diversification when combined. BTCE.DE charges 2.00%/yr vs 0.65%/yr for BCHN.L.
Performance
BTCE.DE vs. BCHN.L - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while BCHN.L is traded in USD. To make them comparable, the BCHN.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTCE.DE achieves a -27.02% return, which is significantly lower than BCHN.L's 27.25% return.
BTCE.DE
- 1D
- -3.79%
- 1M
- -21.28%
- YTD
- -27.02%
- 6M
- -31.67%
- 1Y
- -41.65%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
BCHN.L
- 1D
- -2.26%
- 1M
- 11.31%
- YTD
- 27.25%
- 6M
- 16.79%
- 1Y
- 58.52%
- 3Y*
- 42.08%
- 5Y*
- 12.39%
- 10Y*
- —
BTCE.DE vs. BCHN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 125.79% | 146.52% | -63.89% | 81.36% | 164.73% |
BCHN.L Invesco Elwood Global Blockchain Ucits ETF | 27.25% | 28.23% | 25.05% | 61.40% | -49.05% | 33.25% | 65.83% |
Correlation
The correlation between BTCE.DE and BCHN.L 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 | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020 | 0.62 |
The correlation between BTCE.DE and BCHN.L has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. BCHN.L — Risk / Return Rank
BTCE.DE
BCHN.L
BTCE.DE vs. BCHN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Invesco Elwood Global Blockchain Ucits ETF (BCHN.L). 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.
| BTCE.DE | BCHN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.49 | ||
| Sortino ratioReturn per unit of downside risk | -3.62 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.24 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 1.88 | -2.71 |
| Martin ratioReturn relative to average drawdown | -1.46 | 3.83 | -5.29 |
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
| BTCE.DE | BCHN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 1.45 | -2.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.33 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.66 | -0.08 |
Drawdowns
BTCE.DE vs. BCHN.L - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than BCHN.L's maximum drawdown of -57.55%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BCHN.L.
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Drawdown Indicators
| BTCE.DE | BCHN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -57.55% | -17.07% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -31.01% | -18.75% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -38.62% | -11.14% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -57.55% | -17.07% |
Current DrawdownCurrent decline from peak | -49.27% | -4.43% | -44.84% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -21.02% | -9.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 15.25% | +13.27% |
Volatility
BTCE.DE vs. BCHN.L - Volatility Comparison
The current volatility for ETC Group Physical Bitcoin (BTCE.DE) is 9.82%, while Invesco Elwood Global Blockchain Ucits ETF (BCHN.L) has a volatility of 11.13%. This indicates that BTCE.DE experiences smaller price fluctuations and is considered to be less risky than BCHN.L 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 | BCHN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 11.13% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 26.37% | +4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 40.27% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 37.90% | +14.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 35.90% | +21.95% |
BTCE.DE vs. BCHN.L - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than BCHN.L's 0.65% expense ratio.
Dividends
BTCE.DE vs. BCHN.L - Dividend Comparison
Neither BTCE.DE nor BCHN.L has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and BCHN.L 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, BCHN.L is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BCHN.L is cheaper with a 0.65% expense ratio, compared with 2.00% for BTCE.DE.
BTCE.DE is categorized as Cryptocurrency, while BCHN.L is Technology Equities. They also come from different issuers: ETC Issuance and Invesco. Their fees differ too: 2.00% for BTCE.DE and 0.65% for BCHN.L.
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