BTCE.DE vs. BTC
BTCE.DE (ETC Group Physical Bitcoin) and BTC (Grayscale Bitcoin Mini Trust ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BTCE.DE returned -41.65% vs -40.60% for BTC. A 0.75 correlation means they provide meaningful diversification when combined. BTCE.DE charges 2.00%/yr vs 0.15%/yr for BTC.
Performance
BTCE.DE vs. BTC - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while BTC is traded in USD. To make them comparable, the BTC values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with BTCE.DE having a -27.02% return and BTC slightly higher at -26.62%.
BTCE.DE
- 1D
- -3.79%
- 1M
- -21.28%
- YTD
- -27.02%
- 6M
- -31.67%
- 1Y
- -41.65%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
BTC
- 1D
- -2.94%
- 1M
- -21.69%
- YTD
- -26.62%
- 6M
- -31.23%
- 1Y
- -40.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCE.DE vs. BTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 44.58% |
BTC Grayscale Bitcoin Mini Trust ETF | -26.62% | -18.48% | 51.28% |
Correlation
The correlation between BTCE.DE and BTC is 0.83, 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 | 0.83 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024 | 0.75 |
The correlation between BTCE.DE and BTC has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. BTC — Risk / Return Rank
BTCE.DE
BTC
BTCE.DE vs. BTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Grayscale Bitcoin Mini Trust ETF (BTC). 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 | BTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.85 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.82 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.43 | -0.03 |
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 | BTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -0.94 | -0.11 |
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 | -0.11 | +0.69 |
Drawdowns
BTCE.DE vs. BTC - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than BTC's maximum drawdown of -49.62%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BTC.
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Drawdown Indicators
| BTCE.DE | BTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -49.62% | -25.00% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -49.62% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.27% | -49.00% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -17.66% | -12.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 28.43% | +0.09% |
Volatility
BTCE.DE vs. BTC - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 9.82% compared to Grayscale Bitcoin Mini Trust ETF (BTC) at 9.03%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than BTC 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 | BTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 9.03% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 33.76% | -2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 43.40% | -3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 48.57% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 48.57% | +9.28% |
BTCE.DE vs. BTC - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than BTC's 0.15% expense ratio.
Dividends
BTCE.DE vs. BTC - Dividend Comparison
Neither BTCE.DE nor BTC has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and BTC have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTC is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTC is cheaper with a 0.15% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: ETC Issuance and Grayscale. Their fees differ too: 2.00% for BTCE.DE and 0.15% for BTC.
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