BTCE.DE vs. BTIC.DE
BTCE.DE (ETC Group Physical Bitcoin) and BTIC.DE (Invesco Physical Bitcoin ETP) are both Cryptocurrency funds. Over the past 3 years, BTCE.DE returned 28.04%/yr vs 26.72%/yr for BTIC.DE. With a 0.98 correlation, they move nearly in lockstep. BTCE.DE charges 2.00%/yr vs 0.10%/yr for BTIC.DE.
Performance
BTCE.DE vs. BTIC.DE - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while BTIC.DE is traded in USD. To make them comparable, the BTIC.DE 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 BTIC.DE's -25.63% 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*
- —
BTIC.DE
- 1D
- -3.81%
- 1M
- -20.62%
- YTD
- -25.63%
- 6M
- -30.74%
- 1Y
- -41.55%
- 3Y*
- 26.72%
- 5Y*
- —
- 10Y*
- —
BTCE.DE vs. BTIC.DE - 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% | -13.31% |
BTIC.DE Invesco Physical Bitcoin ETP | -25.63% | -26.09% | 143.52% | 141.40% | -61.47% | -13.29% |
Correlation
The correlation between BTCE.DE and BTIC.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2021 | 0.98 |
The correlation between BTCE.DE and BTIC.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. BTIC.DE — Risk / Return Rank
BTCE.DE
BTIC.DE
BTCE.DE vs. BTIC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Invesco Physical Bitcoin ETP (BTIC.DE). 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 | BTIC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.83 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.83 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.47 | +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 | BTIC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -1.02 | -0.02 |
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 | 0.03 | +0.55 |
Drawdowns
BTCE.DE vs. BTIC.DE - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than BTIC.DE's maximum drawdown of -68.94%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BTIC.DE.
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Drawdown Indicators
| BTCE.DE | BTIC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -68.94% | -5.68% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -49.68% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -53.62% | +3.86% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.27% | -52.21% | +2.94% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -31.90% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 28.15% | +0.37% |
Volatility
BTCE.DE vs. BTIC.DE - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) and Invesco Physical Bitcoin ETP (BTIC.DE) have volatilities of 9.82% and 10.17%, 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 | BTIC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 10.17% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 31.94% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 40.61% | -0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 50.56% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 50.56% | +7.29% |
BTCE.DE vs. BTIC.DE - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than BTIC.DE's 0.10% expense ratio.
Dividends
BTCE.DE vs. BTIC.DE - Dividend Comparison
Neither BTCE.DE nor BTIC.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, BTCE.DE and BTIC.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, BTIC.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTIC.DE is cheaper with a 0.10% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: ETC Issuance and Invesco. Their fees differ too: 2.00% for BTCE.DE and 0.10% for BTIC.DE.
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