BTCE.DE vs. FLXD.DE
BTCE.DE (Bitwise Physical Bitcoin ETP) and FLXD.DE (Franklin European Quality Dividend UCITS ETF) are both exchange-traded funds - BTCE.DE is a Cryptocurrency fund actively managed by Bitwise, while FLXD.DE is a Quality Factor fund tracking the MSCI Europe High Div Yld NR EUR. BTCE.DE is actively managed, while FLXD.DE is passively managed. Over the past 5 years, BTCE.DE returned 7.21%/yr vs 11.84%/yr for FLXD.DE. Their 0.21 correlation means their historical movements had little consistent relationship. BTCE.DE charges 2.00%/yr vs 0.25%/yr for FLXD.DE.
Performance
BTCE.DE vs. FLXD.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 lower than FLXD.DE's 12.35% 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%
FLXD.DE
- 1D
- 0.00%
- 1M
- 0.38%
- 6M
- 6.46%
- YTD
- 12.35%
- 1Y
- 18.41%
- 3Y*
- 18.97%
- 5Y*
- 11.84%
- 10Y*
- —
- ALL TIME*
- 9.30%
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 |
| €580.96K | €575.99K | €812.57K |
BTCE.DE vs. FLXD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BTCE.DE Bitwise Physical Bitcoin ETP | -26.76% | -18.20% | 125.79% | 146.52% | -63.89% | 81.36% | 130.73% |
FLXD.DE Franklin European Quality Dividend UCITS ETF | 12.35% | 24.53% | 12.34% | 10.31% | -0.48% | 16.07% | 7.93% |
Correlation
The correlation between BTCE.DE and FLXD.DE is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2020 | 0.21 |
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Return for Risk
BTCE.DE vs. FLXD.DE — Risk / Return Rank
BTCE.DE
FLXD.DE
BTCE.DE vs. FLXD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Physical Bitcoin ETP (BTCE.DE) and Franklin European Quality Dividend UCITS ETF (FLXD.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 | FLXD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.17 | ||
| Sortino ratioReturn per unit of downside risk | -4.67 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.38 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 4.57 | -5.41 |
| Martin ratioReturn relative to average drawdown | -1.27 | 11.35 | -12.62 |
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Drawdowns
BTCE.DE vs. FLXD.DE - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than FLXD.DE's maximum drawdown of -35.13%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and FLXD.DE.
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Drawdown Indicators
| BTCE.DE | FLXD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -35.13% | -39.49% |
Max Drawdown (1Y)Largest decline over 1 year | -53.06% | -4.01% | -49.05% |
Max Drawdown (3Y)Largest decline over 3 years | -53.06% | -10.07% | -42.99% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -14.17% | -60.45% |
Current DrawdownCurrent decline from peak | -49.09% | -1.85% | -47.24% |
Average DrawdownAverage peak-to-trough decline | -30.88% | -3.84% | -27.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.01% | 1.62% | +33.39% |
Volatility
BTCE.DE vs. FLXD.DE - Volatility Comparison
Bitwise Physical Bitcoin ETP (BTCE.DE) has a higher volatility of 8.48% compared to Franklin European Quality Dividend UCITS ETF (FLXD.DE) at 2.13%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than FLXD.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 | FLXD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 2.13% | +6.35% |
Volatility (6M)Calculated over the trailing 6-month period | 28.87% | 6.97% | +21.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.94% | 8.80% | +32.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.69% | 11.60% | +39.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.53% | 14.01% | +43.52% |
BTCE.DE vs. FLXD.DE - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than FLXD.DE's 0.25% expense ratio.
Dividends
BTCE.DE vs. FLXD.DE - Dividend Comparison
BTCE.DE has not paid dividends to shareholders, while FLXD.DE's dividend yield for the trailing twelve months is around 3.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BTCE.DE Bitwise Physical Bitcoin ETP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLXD.DE Franklin European Quality Dividend UCITS ETF | 3.93% | 4.27% | 4.31% | 4.99% | 5.20% | 4.61% | 3.48% | 4.38% | 5.45% | 0.72% |
Frequently Asked Questions
BTCE.DE and FLXD.DE have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLXD.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLXD.DE is cheaper with a 0.25% expense ratio, compared with 2.00% for BTCE.DE.
BTCE.DE is categorized as Cryptocurrency, while FLXD.DE is Quality Factor. They also come from different issuers: Bitwise and Franklin Templeton. Their fees differ too: 2.00% for BTCE.DE and 0.25% for FLXD.DE.
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