BTCE.DE vs. BTRN
BTCE.DE (ETC Group Physical Bitcoin) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds. BTCE.DE is actively managed, while BTRN is passively managed. Over the past year, BTCE.DE returned -41.65% vs -18.67% for BTRN. A 0.59 correlation means they provide meaningful diversification when combined. BTCE.DE charges 2.00%/yr vs 0.95%/yr for BTRN.
Performance
BTCE.DE vs. BTRN - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while BTRN is traded in USD. To make them comparable, the BTRN 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 BTRN's -8.16% 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*
- —
BTRN
- 1D
- -0.04%
- 1M
- -12.96%
- YTD
- -8.16%
- 6M
- -9.56%
- 1Y
- -18.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCE.DE vs. BTRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 43.75% |
BTRN Global X Bitcoin Trend Strategy ETF | -8.16% | -7.56% | 10.39% |
Correlation
The correlation between BTCE.DE and BTRN is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2024 | 0.59 |
The correlation between BTCE.DE and BTRN has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. BTRN — Risk / Return Rank
BTCE.DE
BTRN
BTCE.DE vs. BTRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Global X Bitcoin Trend Strategy ETF (BTRN). 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 | BTRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.85 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.75 | -0.08 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.26 | -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. | |||
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Sharpe Ratios by Period
| BTCE.DE | BTRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -0.92 | -0.13 |
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 | -0.09 | +0.68 |
Drawdowns
BTCE.DE vs. BTRN - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than BTRN's maximum drawdown of -37.91%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and BTRN.
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Drawdown Indicators
| BTCE.DE | BTRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -37.91% | -36.71% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -24.90% | -24.86% |
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% | -24.90% | -24.37% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -15.12% | -15.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 14.90% | +13.62% |
Volatility
BTCE.DE vs. BTRN - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 9.82% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 6.87%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than BTRN 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 | BTRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 6.87% | +2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 11.35% | +19.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 20.45% | +19.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 31.77% | +20.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 31.77% | +26.08% |
BTCE.DE vs. BTRN - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than BTRN's 0.95% expense ratio.
Dividends
BTCE.DE vs. BTRN - Dividend Comparison
BTCE.DE has not paid dividends to shareholders, while BTRN's dividend yield for the trailing twelve months is around 30.57%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | 0.00% | 0.00% | 0.00% |
BTRN Global X Bitcoin Trend Strategy ETF | 30.57% | 27.76% | 2.56% |
Frequently Asked Questions
BTCE.DE and BTRN have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTRN is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTRN is cheaper with a 0.95% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: ETC Issuance and Global X. Their fees differ too: 2.00% for BTCE.DE and 0.95% for BTRN.
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