BTCE.DE vs. BTCW
BTCE.DE (Bitwise Physical Bitcoin ETP) and BTCW (Wisdom Tree Bitcoin Fund) are both Cryptocurrency funds. BTCE.DE is actively managed, while BTCW is passively managed. Over the past year, BTCE.DE returned -44.28% vs -43.10% for BTCW. Their 0.74 correlation means they have sometimes moved together and sometimes differently. BTCE.DE charges 2.00%/yr vs 0.25%/yr for BTCW.
Performance
BTCE.DE vs. BTCW - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while BTCW is traded in USD. To make them comparable, the BTCW 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 -26.76% return, which is significantly lower than BTCW's -24.95% 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%
BTCW
- 1D
- 0.66%
- 1M
- 0.79%
- 6M
- -10.03%
- YTD
- -24.95%
- 1Y
- -43.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTCE.DE Bitwise Physical Bitcoin ETP | €508.71K | €595.77K | €1.12M |
| €1.27M | €1.23M | €1.13M |
BTCE.DE vs. BTCW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCE.DE Bitwise Physical Bitcoin ETP | -26.76% | -18.20% | 111.95% |
BTCW Wisdom Tree Bitcoin Fund | -24.95% | -17.20% | 104.32% |
Correlation
The correlation between BTCE.DE and BTCW is 0.83, 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. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.74 |
The correlation between BTCE.DE and BTCW has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. BTCW — Risk / Return Rank
BTCE.DE
BTCW
BTCE.DE vs. BTCW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Physical Bitcoin ETP (BTCE.DE) and Wisdom Tree Bitcoin Fund (BTCW). 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 | BTCW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.84 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.83 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.24 | -0.02 |
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Drawdowns
BTCE.DE vs. BTCW - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than BTCW's maximum drawdown of -52.18%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BTCW.
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Drawdown Indicators
| BTCE.DE | BTCW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -52.18% | -22.44% |
Max Drawdown (1Y)Largest decline over 1 year | -53.06% | -52.18% | -0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -53.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.09% | -47.83% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -30.88% | -18.65% | -12.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.01% | 34.66% | +0.35% |
Volatility
BTCE.DE vs. BTCW - Volatility Comparison
Bitwise Physical Bitcoin ETP (BTCE.DE) and Wisdom Tree Bitcoin Fund (BTCW) have volatilities of 8.48% and 8.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCE.DE | BTCW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 8.08% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 28.87% | 32.20% | -3.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.94% | 43.42% | -2.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.69% | 49.28% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.53% | 49.28% | +8.25% |
BTCE.DE vs. BTCW - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than BTCW's 0.25% expense ratio.
Dividends
BTCE.DE vs. BTCW - Dividend Comparison
Neither BTCE.DE nor BTCW has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and BTCW 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, BTCW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTCW is cheaper with a 0.25% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: Bitwise and WisdomTree. Their fees differ too: 2.00% for BTCE.DE and 0.25% for BTCW.
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