BTCE.DE vs. CMOP.L
BTCE.DE (ETC Group Physical Bitcoin) and CMOP.L (Invesco Bloomberg Commodity UCITS ETF Acc) are both exchange-traded funds - BTCE.DE is a Cryptocurrency fund actively managed by ETC Issuance, while CMOP.L is a Commodities fund tracking the Bloomberg Commodity. BTCE.DE is actively managed, while CMOP.L is passively managed. Over the past 5 years, BTCE.DE returned 10.38%/yr vs 11.93%/yr for CMOP.L. At a 0.07 correlation, their price movements are largely independent. BTCE.DE charges 2.00%/yr vs 0.19%/yr for CMOP.L.
Performance
BTCE.DE vs. CMOP.L - Performance Comparison
Loading charts...
Different Trading Currencies
BTCE.DE is traded in EUR, while CMOP.L is traded in GBp. To make them comparable, the CMOP.L 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 CMOP.L's 25.95% 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*
- —
CMOP.L
- 1D
- -1.40%
- 1M
- -2.93%
- YTD
- 25.95%
- 6M
- 24.72%
- 1Y
- 35.28%
- 3Y*
- 12.25%
- 5Y*
- 11.93%
- 10Y*
- —
BTCE.DE vs. CMOP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 125.79% | 146.52% | -63.89% | 81.36% | 164.73% |
CMOP.L Invesco Bloomberg Commodity UCITS ETF Acc | 25.95% | 2.58% | 11.13% | -10.88% | 21.81% | 37.09% | 11.23% |
Correlation
The correlation between BTCE.DE and CMOP.L is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020 | 0.07 |
The correlation between BTCE.DE and CMOP.L shifts across timeframes, from -0.03 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BTCE.DE vs. CMOP.L — Risk / Return Rank
BTCE.DE
CMOP.L
BTCE.DE vs. CMOP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L). 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 | CMOP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.94 | ||
| Sortino ratioReturn per unit of downside risk | -3.98 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.35 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 4.06 | -4.90 |
| Martin ratioReturn relative to average drawdown | -1.46 | 9.02 | -10.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BTCE.DE | CMOP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 1.90 | -2.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.70 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.41 | +0.18 |
Drawdowns
BTCE.DE vs. CMOP.L - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than CMOP.L's maximum drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and CMOP.L.
Loading charts...
Drawdown Indicators
| BTCE.DE | CMOP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -30.04% | -44.58% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -8.65% | -41.11% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -15.99% | -33.77% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -27.73% | -46.89% |
Current DrawdownCurrent decline from peak | -49.27% | -4.83% | -44.44% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -13.64% | -16.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 3.90% | +24.62% |
Volatility
BTCE.DE vs. CMOP.L - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 9.82% compared to Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) at 6.47%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than CMOP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BTCE.DE | CMOP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 6.47% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 16.32% | +14.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 18.52% | +21.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 17.14% | +35.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.85% | 15.48% | +42.37% |
BTCE.DE vs. CMOP.L - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than CMOP.L's 0.19% expense ratio.
Dividends
BTCE.DE vs. CMOP.L - Dividend Comparison
Neither BTCE.DE nor CMOP.L has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and CMOP.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMOP.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOP.L is cheaper with a 0.19% expense ratio, compared with 2.00% for BTCE.DE.
BTCE.DE is categorized as Cryptocurrency, while CMOP.L is Commodities. They also come from different issuers: ETC Issuance and Invesco. Their fees differ too: 2.00% for BTCE.DE and 0.19% for CMOP.L.
Find the right allocation for BTCE.DE and CMOP.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer