BTCE.DE vs. ETHA.DE
BTCE.DE (Bitwise Physical Bitcoin ETP) and ETHA.DE (21Shares Ethereum Staking ETP) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BTCE.DE returned 25.27%/yr vs -1.15%/yr for ETHA.DE. Their correlation of 0.84 means they have usually moved in the same direction. BTCE.DE charges 2.00%/yr vs 1.49%/yr for ETHA.DE.
Performance
BTCE.DE vs. ETHA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BTCE.DE achieves a -26.76% return, which is significantly higher than ETHA.DE's -36.08% return.
BTCE.DE
- 1D
- 0.00%
- 1M
- 1.37%
- 6M
- -11.75%
- YTD
- -26.76%
- 1Y
- -44.28%
- 3Y*
- 25.27%
- 5Y*
- 7.21%
- 10Y*
- —
- ALL TIME*
- 30.04%
ETHA.DE
- 1D
- 0.00%
- 1M
- 4.98%
- 6M
- -9.59%
- YTD
- -36.08%
- 1Y
- -47.32%
- 3Y*
- -1.15%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -13.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTCE.DE Bitwise Physical Bitcoin ETP | €508.71K | €595.77K | €1.12M |
| €449.46K | €561.53K | €776.16K |
BTCE.DE vs. ETHA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTCE.DE Bitwise Physical Bitcoin ETP | -26.76% | -18.20% | 125.79% | 146.52% | -63.89% | -4.46% |
ETHA.DE 21Shares Ethereum Staking ETP | -36.08% | -22.34% | 52.23% | 90.31% | -66.47% | -0.42% |
Correlation
The correlation between BTCE.DE and ETHA.DE is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2021 | 0.84 |
The correlation between BTCE.DE and ETHA.DE has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
BTCE.DE vs. ETHA.DE — Risk / Return Rank
BTCE.DE
ETHA.DE
BTCE.DE vs. ETHA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Physical Bitcoin ETP (BTCE.DE) and 21Shares Ethereum Staking ETP (ETHA.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTCE.DE | ETHA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.87 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.72 | -0.11 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.07 | -0.19 |
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Drawdowns
BTCE.DE vs. ETHA.DE - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, roughly equal to the maximum ETHA.DE drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and ETHA.DE.
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Drawdown Indicators
| BTCE.DE | ETHA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -76.82% | +2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -53.06% | -65.73% | +12.67% |
Max Drawdown (3Y)Largest decline over 3 years | -53.06% | -65.73% | +12.67% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | — | — |
Current DrawdownCurrent decline from peak | -49.09% | -62.35% | +13.26% |
Average DrawdownAverage peak-to-trough decline | -30.88% | -46.03% | +15.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.01% | 44.16% | -9.15% |
Volatility
BTCE.DE vs. ETHA.DE - Volatility Comparison
The current volatility for Bitwise Physical Bitcoin ETP (BTCE.DE) is 8.48%, while 21Shares Ethereum Staking ETP (ETHA.DE) has a volatility of 11.39%. This indicates that BTCE.DE experiences smaller price fluctuations and is considered to be less risky than ETHA.DE 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 | ETHA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 11.39% | -2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 28.87% | 37.44% | -8.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.94% | 57.52% | -16.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.69% | 66.09% | -15.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.53% | 66.09% | -8.56% |
BTCE.DE vs. ETHA.DE - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than ETHA.DE's 1.49% expense ratio.
Dividends
BTCE.DE vs. ETHA.DE - Dividend Comparison
Neither BTCE.DE nor ETHA.DE has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and ETHA.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETHA.DE is cheaper at 1.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETHA.DE is cheaper with a 1.49% expense ratio, compared with 2.00% for BTCE.DE.
They also come from different issuers: Bitwise and 21Shares. Their fees differ too: 2.00% for BTCE.DE and 1.49% for ETHA.DE.
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