BTCE.DE vs. BTCW

Last updated Apr 2, 2026

Compare and contrast key facts about ETC Group Physical Bitcoin (BTCE.DE) and Wisdom Tree Bitcoin Fund (BTCW).

BTCE.DE and BTCW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCE.DE is an actively managed fund by ETC Issuance. It was launched on Jun 8, 2020. BTCW is managed by WisdomTree. It was launched on Jan 11, 2024.

Performance

BTCE.DE vs. BTCW - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in ETC Group Physical Bitcoin (BTCE.DE) and Wisdom Tree Bitcoin Fund (BTCW). The values are adjusted to include any dividend payments, if applicable.

BTCE.DE vs. BTCW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCE.DE ETC Group Physical Bitcoin	-21.07%	-18.20%	108.26%
BTCW Wisdom Tree Bitcoin Fund	-21.04%	-17.20%	111.96%

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

The year-to-date returns for both investments are quite close, with BTCE.DE having a -21.07% return and BTCW slightly higher at -21.04%.

BTCE.DE

• 1D: 1.90%
• 1M: -0.28%
• YTD: -21.07%
• 6M: -41.47%
• 1Y: -26.25%
• 3Y*: 28.44%
• 5Y*: 1.29%
• 10Y*: —

BTCW

• 1D: 0.40%
• 1M: -0.51%
• YTD: -21.04%
• 6M: -41.30%
• 1Y: -25.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTCE.DE vs. BTCW - Expense Ratio Comparison

BTCE.DE has a 2.00% expense ratio, which is higher than BTCW's 0.30% expense ratio.

BTCE.DE

ETC Group Physical Bitcoin

BTCW

Wisdom Tree Bitcoin Fund

Return for Risk

BTCE.DE vs. BTCW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTCE.DE

BTCE.DE Risk / Return Rank: 3
BTCE.DE Sharpe Ratio Rank: 2
BTCE.DE Sortino Ratio Rank: 3
BTCE.DE Omega Ratio Rank: 3
BTCE.DE Calmar Ratio Rank: 3
BTCE.DE Martin Ratio Rank: 3

BTCW

BTCW Risk / Return Rank: 6
BTCW Sharpe Ratio Rank: 5
BTCW Sortino Ratio Rank: 5
BTCW Omega Ratio Rank: 6
BTCW Calmar Ratio Rank: 6
BTCW Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTCE.DE vs. BTCW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (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.

	BTCE.DE	BTCW	Difference
Sharpe ratio Return per unit of total volatility	-0.65	-0.56	-0.09
Sortino ratio Return per unit of downside risk	-0.76	-0.57	-0.19
Omega ratio Gain probability vs. loss probability	0.91	0.93	-0.02
Calmar ratio Return relative to maximum drawdown	-0.55	-0.46	-0.09
Martin ratio Return relative to average drawdown	-1.19	-0.98	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCE.DE vs. BTCW - Sharpe Ratio Comparison

The current BTCE.DE Sharpe Ratio is -0.65, which is comparable to the BTCW Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of BTCE.DE and BTCW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BTCE.DE	BTCW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.65	-0.56	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.31	+0.32

Correlation

The correlation between BTCE.DE and BTCW is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BTCE.DE vs. BTCW - Dividend Comparison

Neither BTCE.DE nor BTCW has paid dividends to shareholders.

Tickers have no history of dividend payments

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 -49.57%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BTCW.

Drawdown Indicators

	BTCE.DE	BTCW	Difference
Max Drawdown Largest peak-to-trough decline	-74.62%	-49.29%	-25.33%
Max Drawdown (1Y) Largest decline over 1 year	-49.76%	-49.29%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-74.62%	—	—
Current Drawdown Current decline from peak	-45.14%	-45.80%	+0.66%
Average Drawdown Average peak-to-trough decline	-29.99%	-14.16%	-15.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.23%	23.23%	0.00%

Volatility

BTCE.DE vs. BTCW - Volatility Comparison

ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 13.04% compared to Wisdom Tree Bitcoin Fund (BTCW) at 12.41%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than BTCW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCE.DE	BTCW	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.04%	12.41%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	32.77%	36.45%	-3.68%
Volatility (1Y) Calculated over the trailing 1-year period	40.38%	45.64%	-5.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.56%	51.15%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.34%	51.15%	+7.19%