BTCE.DE vs. BITO
BTCE.DE (ETC Group Physical Bitcoin) and BITO (ProShares Bitcoin Strategy ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BTCE.DE returned 28.04%/yr vs 23.45%/yr for BITO. A 0.72 correlation means they provide meaningful diversification when combined. BTCE.DE charges 2.00%/yr vs 0.95%/yr for BITO.
Performance
BTCE.DE vs. BITO - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while BITO is traded in USD. To make them comparable, the BITO values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with BTCE.DE having a -27.02% return and BITO slightly lower at -27.62%.
BTCE.DE
- 1D
- -3.79%
- 1M
- -21.28%
- YTD
- -27.02%
- 6M
- -31.67%
- 1Y
- -41.65%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
BITO
- 1D
- -2.94%
- 1M
- -22.00%
- YTD
- -27.62%
- 6M
- -32.28%
- 1Y
- -42.96%
- 3Y*
- 23.45%
- 5Y*
- —
- 10Y*
- —
BTCE.DE vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 125.79% | 146.52% | -63.89% | -22.51% |
BITO ProShares Bitcoin Strategy ETF | -27.62% | -21.73% | 117.95% | 130.21% | -61.67% | -29.49% |
Correlation
The correlation between BTCE.DE and BITO is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021 | 0.72 |
The correlation between BTCE.DE and BITO shifts across timeframes, from 0.72 (all time) to 0.84 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTCE.DE vs. BITO — Risk / Return Rank
BTCE.DE
BITO
BTCE.DE vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and ProShares Bitcoin Strategy ETF (BITO). 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 | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.84 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.86 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.48 | +0.02 |
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 | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -1.00 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | -0.10 | +0.69 |
Drawdowns
BTCE.DE vs. BITO - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, roughly equal to the maximum BITO drawdown of -74.94%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BITO.
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Drawdown Indicators
| BTCE.DE | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -74.94% | +0.32% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -50.32% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -50.32% | +0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.27% | -50.22% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -35.20% | +4.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 29.15% | -0.63% |
Volatility
BTCE.DE vs. BITO - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 9.82% compared to ProShares Bitcoin Strategy ETF (BITO) at 8.99%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than BITO 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 | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 8.99% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 33.56% | -2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 43.29% | -3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 54.41% | -1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 54.41% | +3.44% |
BTCE.DE vs. BITO - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than BITO's 0.95% expense ratio.
Dividends
BTCE.DE vs. BITO - Dividend Comparison
BTCE.DE has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 69.59%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 69.59% | 78.29% | 61.59% | 15.14% |
BTCE.DE ETC Group Physical Bitcoin | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCE.DE and BITO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BITO is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BITO is cheaper with a 0.95% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: ETC Issuance and ProShares. Their fees differ too: 2.00% for BTCE.DE and 0.95% for BITO.
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