BTCE.DE vs. WFIN.AS
BTCE.DE (ETC Group Physical Bitcoin) and WFIN.AS (SPDR MSCI World Financials UCITS ETF) are both exchange-traded funds - BTCE.DE is a Cryptocurrency fund actively managed by ETC Issuance, while WFIN.AS is a Financials Equities fund tracking the MSCI World/Financials NR USD. BTCE.DE is actively managed, while WFIN.AS is passively managed. Over the past 5 years, BTCE.DE returned 10.38%/yr vs 12.79%/yr for WFIN.AS. At a 0.31 correlation, their price movements are largely independent. BTCE.DE charges 2.00%/yr vs 0.30%/yr for WFIN.AS.
Performance
BTCE.DE vs. WFIN.AS - 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 WFIN.AS's 1.19% 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*
- —
WFIN.AS
- 1D
- 1.74%
- 1M
- 1.79%
- YTD
- 1.19%
- 6M
- 3.25%
- 1Y
- 14.96%
- 3Y*
- 20.80%
- 5Y*
- 12.79%
- 10Y*
- 11.87%
BTCE.DE vs. WFIN.AS - 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% |
WFIN.AS SPDR MSCI World Financials UCITS ETF | 1.19% | 14.32% | 35.51% | 11.89% | -4.62% | 39.49% | 11.16% |
Correlation
The correlation between BTCE.DE and WFIN.AS is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020 | 0.31 |
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Return for Risk
BTCE.DE vs. WFIN.AS — Risk / Return Rank
BTCE.DE
WFIN.AS
BTCE.DE vs. WFIN.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and SPDR MSCI World Financials UCITS ETF (WFIN.AS). 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 | WFIN.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.17 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 1.27 | -2.10 |
| Martin ratioReturn relative to average drawdown | -1.46 | 3.92 | -5.38 |
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Drawdowns
BTCE.DE vs. WFIN.AS - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, roughly equal to the maximum WFIN.AS drawdown of -72.88%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and WFIN.AS.
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Drawdown Indicators
| BTCE.DE | WFIN.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -72.88% | -1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -9.65% | -40.11% |
Max Drawdown (3Y)Largest decline over 3 years | -49.76% | -19.52% | -30.24% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -19.52% | -55.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.00% | — |
Current DrawdownCurrent decline from peak | -49.27% | -1.06% | -48.21% |
Average DrawdownAverage peak-to-trough decline | -30.26% | -18.71% | -11.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 3.12% | +25.40% |
Volatility
BTCE.DE vs. WFIN.AS - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) has a higher volatility of 9.82% compared to SPDR MSCI World Financials UCITS ETF (WFIN.AS) at 3.27%. This indicates that BTCE.DE's price experiences larger fluctuations and is considered to be riskier than WFIN.AS 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 | WFIN.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 3.27% | +6.55% |
Volatility (6M)Calculated over the trailing 6-month period | 31.25% | 9.64% | +21.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.81% | 12.81% | +27.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.58% | 16.19% | +36.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.83% | 19.45% | +38.38% |
BTCE.DE vs. WFIN.AS - Expense Ratio Comparison
BTCE.DE has a 2.00% expense ratio, which is higher than WFIN.AS's 0.30% expense ratio.
Dividends
BTCE.DE vs. WFIN.AS - Dividend Comparison
Neither BTCE.DE nor WFIN.AS has paid dividends to shareholders.
Frequently Asked Questions
BTCE.DE and WFIN.AS have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WFIN.AS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WFIN.AS is cheaper with a 0.30% expense ratio, compared with 2.00% for BTCE.DE.
BTCE.DE is categorized as Cryptocurrency, while WFIN.AS is Financials Equities. They also come from different issuers: ETC Issuance and State Street. Their fees differ too: 2.00% for BTCE.DE and 0.30% for WFIN.AS.
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