BTCE.DE vs. USPY.DE
BTCE.DE (ETC Group Physical Bitcoin) and USPY.DE (L&G Cyber Security UCITS ETF) are both exchange-traded funds - BTCE.DE is a Cryptocurrency fund actively managed by ETC Issuance, while USPY.DE is a Technology Equities fund tracking the ISE Cyber Security UCITS. BTCE.DE is actively managed, while USPY.DE is passively managed. Over the past 5 years, BTCE.DE returned 10.38%/yr vs 10.64%/yr for USPY.DE. At a 0.29 correlation, their price movements are largely independent. BTCE.DE charges 2.00%/yr vs 0.69%/yr for USPY.DE.
Performance
BTCE.DE vs. USPY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BTCE.DE achieves a -27.02% return, which is significantly lower than USPY.DE's 31.89% return.
BTCE.DE
- 1D
- -3.79%
- 1M
- -20.74%
- YTD
- -27.02%
- 6M
- -28.97%
- 1Y
- -41.00%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
USPY.DE
- 1D
- 1.42%
- 1M
- 11.41%
- YTD
- 31.89%
- 6M
- 28.78%
- 1Y
- 28.68%
- 3Y*
- 22.29%
- 5Y*
- 10.64%
- 10Y*
- 16.17%
BTCE.DE vs. USPY.DE - 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% | 162.37% |
USPY.DE L&G Cyber Security UCITS ETF | 31.89% | -3.39% | 24.34% | 37.45% | -28.70% | 17.00% | 16.18% |
Correlation
The correlation between BTCE.DE and USPY.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020 | 0.29 |
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Return for Risk
BTCE.DE vs. USPY.DE — Risk / Return Rank
BTCE.DE
USPY.DE
BTCE.DE vs. USPY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and L&G Cyber Security UCITS ETF (USPY.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 | USPY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -3.04 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.20 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 1.40 | -2.24 |
| Martin ratioReturn relative to average drawdown | -1.46 | 3.76 | -5.22 |
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Drawdowns
BTCE.DE vs. USPY.DE - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, which is greater than USPY.DE's maximum drawdown of -36.25%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and USPY.DE.
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Drawdown Indicators
| BTCE.DE | USPY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -36.25% | -38.37% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -19.61% | -30.15% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -30.52% | -19.24% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -33.89% | -40.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.89% | — |
Current DrawdownCurrent decline from peak | -49.27% | -7.76% | -41.51% |
Average DrawdownAverage peak-to-trough decline | -30.26% | -10.93% | -19.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 7.32% | +21.20% |
Volatility
BTCE.DE vs. USPY.DE - Volatility Comparison
The current volatility for ETC Group Physical Bitcoin (BTCE.DE) is 9.82%, while L&G Cyber Security UCITS ETF (USPY.DE) has a volatility of 11.60%. This indicates that BTCE.DE experiences smaller price fluctuations and is considered to be less risky than USPY.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 | USPY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 11.60% | -1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 23.85% | +7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 27.13% | +12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 24.76% | +27.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.83% | 23.61% | +34.22% |
BTCE.DE vs. USPY.DE - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than USPY.DE's 0.69% expense ratio.
Dividends
BTCE.DE vs. USPY.DE - Dividend Comparison
Neither BTCE.DE nor USPY.DE has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and USPY.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USPY.DE is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USPY.DE is cheaper with a 0.69% expense ratio, compared with 2.00% for BTCE.DE.
BTCE.DE is categorized as Cryptocurrency, while USPY.DE is Technology Equities. They also come from different issuers: ETC Issuance and Legal & General. Their fees differ too: 2.00% for BTCE.DE and 0.69% for USPY.DE.
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