BTCN.AS vs. IWDA.AS
BTCN.AS (iShares Bitcoin ETP) and IWDA.AS (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - BTCN.AS is a fund fund actively managed by iShares, while IWDA.AS is a Global Equities fund tracking the MSCI World Index. BTCN.AS is actively managed, while IWDA.AS is passively managed. Over the past year, BTCN.AS returned -39.03% vs 25.49% for IWDA.AS. At a 0.35 correlation, their price movements are largely independent. BTCN.AS charges 0.15%/yr vs 0.20%/yr for IWDA.AS.
Performance
BTCN.AS vs. IWDA.AS - Performance Comparison
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Different Trading Currencies
BTCN.AS is traded in USD, while IWDA.AS is traded in EUR. To make them comparable, the IWDA.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BTCN.AS achieves a -46.41% return, which is significantly lower than IWDA.AS's 9.79% return.
BTCN.AS
- 1D
- -3.78%
- 1M
- -21.67%
- YTD
- -46.41%
- 6M
- -46.41%
- 1Y
- -39.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWDA.AS
- 1D
- 0.07%
- 1M
- 2.38%
- YTD
- 9.79%
- 6M
- 10.59%
- 1Y
- 25.49%
- 3Y*
- 20.73%
- 5Y*
- 11.83%
- 10Y*
- 13.07%
BTCN.AS vs. IWDA.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTCN.AS iShares Bitcoin ETP | -46.41% | 35.30% |
IWDA.AS iShares Core MSCI World UCITS ETF USD (Acc) | 9.79% | 20.47% |
Correlation
The correlation between BTCN.AS and IWDA.AS is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025 | 0.35 |
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Return for Risk
BTCN.AS vs. IWDA.AS — Risk / Return Rank
BTCN.AS
IWDA.AS
BTCN.AS vs. IWDA.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin ETP (BTCN.AS) and iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.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.
| BTCN.AS | IWDA.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.92 | ||
| Sortino ratioReturn per unit of downside risk | -4.10 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.40 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 3.05 | -3.84 |
| Martin ratioReturn relative to average drawdown | -1.51 | 13.16 | -14.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCN.AS | IWDA.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 2.22 | -2.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.75 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.81 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.44 | 0.68 | -1.12 |
Drawdowns
BTCN.AS vs. IWDA.AS - Drawdown Comparison
The maximum BTCN.AS drawdown since its inception was -49.00%, which is greater than IWDA.AS's maximum drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for BTCN.AS and IWDA.AS.
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Drawdown Indicators
| BTCN.AS | IWDA.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.00% | -34.11% | -14.89% |
Max Drawdown (1Y)Largest decline over 1 year | -49.00% | -8.39% | -40.61% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.11% | — |
Current DrawdownCurrent decline from peak | -48.93% | -0.51% | -48.42% |
Average DrawdownAverage peak-to-trough decline | -16.27% | -4.64% | -11.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.10% | 1.95% | +24.15% |
Volatility
BTCN.AS vs. IWDA.AS - Volatility Comparison
iShares Bitcoin ETP (BTCN.AS) has a higher volatility of 9.86% compared to iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) at 2.94%. This indicates that BTCN.AS's price experiences larger fluctuations and is considered to be riskier than IWDA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCN.AS | IWDA.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.86% | 2.94% | +6.92% |
Volatility (6M)Calculated over the trailing 6-month period | 52.18% | 8.59% | +43.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.53% | 11.51% | +44.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.36% | 15.47% | +37.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.36% | 15.80% | +37.56% |
BTCN.AS vs. IWDA.AS - Expense Ratio Comparison
BTCN.AS has a 0.15% expense ratio, which is lower than IWDA.AS's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BTCN.AS vs. IWDA.AS - Dividend Comparison
Neither BTCN.AS nor IWDA.AS has paid dividends to shareholders.
Frequently Asked Questions
BTCN.AS and IWDA.AS have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTCN.AS is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTCN.AS is cheaper with a 0.15% expense ratio, compared with 0.20% for IWDA.AS.
Their fees differ too: 0.15% for BTCN.AS and 0.20% for IWDA.AS.
Find the right allocation for BTCN.AS and IWDA.AS
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