BTCE.DE vs. CEPI
BTCE.DE (ETC Group Physical Bitcoin) and CEPI (REX Crypto Equity Premium Income ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BTCE.DE returned -41.65% vs 31.67% for CEPI. At a 0.49 correlation, their price movements are largely independent. BTCE.DE charges 2.00%/yr vs 0.85%/yr for CEPI.
Performance
BTCE.DE vs. CEPI - Performance Comparison
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Different Trading Currencies
BTCE.DE is traded in EUR, while CEPI is traded in USD. To make them comparable, the CEPI 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 CEPI's 22.86% 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*
- —
CEPI
- 1D
- 0.49%
- 1M
- 7.28%
- YTD
- 22.86%
- 6M
- 19.25%
- 1Y
- 31.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCE.DE vs. CEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | -1.19% |
CEPI REX Crypto Equity Premium Income ETF | 22.86% | -2.40% | -7.64% |
Correlation
The correlation between BTCE.DE and CEPI is 0.51, 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 | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024 | 0.49 |
The correlation between BTCE.DE and CEPI has been stable across timeframes, ranging from 0.49 to 0.51 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. CEPI — Risk / Return Rank
BTCE.DE
CEPI
BTCE.DE vs. CEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and REX Crypto Equity Premium Income ETF (CEPI). 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 | CEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -3.22 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.23 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 1.37 | -2.20 |
| Martin ratioReturn relative to average drawdown | -1.46 | 3.31 | -4.76 |
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 | CEPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 1.20 | -2.25 |
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 | 0.22 | +0.36 |
Drawdowns
BTCE.DE vs. CEPI - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than CEPI's maximum drawdown of -32.80%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and CEPI.
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Drawdown Indicators
| BTCE.DE | CEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -32.80% | -41.82% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -23.29% | -26.47% |
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% | -1.30% | -47.97% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -11.50% | -18.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 9.60% | +18.92% |
Volatility
BTCE.DE vs. CEPI - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 9.82% compared to REX Crypto Equity Premium Income ETF (CEPI) at 5.40%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than CEPI 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 | CEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 5.40% | +4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 19.96% | +11.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 26.46% | +13.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 32.19% | +20.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 32.19% | +25.66% |
BTCE.DE vs. CEPI - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than CEPI's 0.85% expense ratio.
Dividends
BTCE.DE vs. CEPI - Dividend Comparison
BTCE.DE has not paid dividends to shareholders, while CEPI's dividend yield for the trailing twelve months is around 42.44%.
| Position | TTM | 2025 |
|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | 0.00% | 0.00% |
CEPI REX Crypto Equity Premium Income ETF | 42.44% | 50.78% |
Frequently Asked Questions
BTCE.DE and CEPI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEPI is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEPI is cheaper with a 0.85% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: ETC Issuance and REX. Their fees differ too: 2.00% for BTCE.DE and 0.85% for CEPI.
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