BTCN.AS vs. WINC.AS
BTCN.AS (iShares Bitcoin ETP) and WINC.AS (iShares World Equity High Income UCITS ETF USD Inc) are both exchange-traded funds - BTCN.AS is a fund fund actively managed by iShares, while WINC.AS is a Global Equity Income fund actively managed by iShares. Both are actively managed. Over the past year, BTCN.AS returned -39.03% vs 24.57% for WINC.AS. At a 0.31 correlation, their price movements are largely independent. BTCN.AS charges 0.15%/yr vs 0.35%/yr for WINC.AS.
Performance
BTCN.AS vs. WINC.AS - Performance Comparison
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Returns By Period
In the year-to-date period, BTCN.AS achieves a -46.41% return, which is significantly lower than WINC.AS's 8.88% return.
BTCN.AS
- 1D
- -3.78%
- 1M
- -21.67%
- YTD
- -46.41%
- 6M
- -46.41%
- 1Y
- -39.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WINC.AS
- 1D
- 0.63%
- 1M
- 2.23%
- YTD
- 8.88%
- 6M
- 10.29%
- 1Y
- 24.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCN.AS vs. WINC.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTCN.AS iShares Bitcoin ETP | -46.41% | 35.30% |
WINC.AS iShares World Equity High Income UCITS ETF USD Inc | 8.88% | 19.73% |
Correlation
The correlation between BTCN.AS and WINC.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 (All Time) Calculated using the full available price history since Mar 25, 2025 | 0.31 |
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Return for Risk
BTCN.AS vs. WINC.AS — Risk / Return Rank
BTCN.AS
WINC.AS
BTCN.AS vs. WINC.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin ETP (BTCN.AS) and iShares World Equity High Income UCITS ETF USD Inc (WINC.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 | WINC.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.02 | ||
| Sortino ratioReturn per unit of downside risk | -4.31 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.42 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 3.61 | -4.41 |
| Martin ratioReturn relative to average drawdown | -1.51 | 15.27 | -16.78 |
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 | WINC.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 2.32 | -3.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.44 | 1.61 | -2.05 |
Drawdowns
BTCN.AS vs. WINC.AS - Drawdown Comparison
The maximum BTCN.AS drawdown since its inception was -49.00%, which is greater than WINC.AS's maximum drawdown of -14.81%. Use the drawdown chart below to compare losses from any high point for BTCN.AS and WINC.AS.
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Drawdown Indicators
| BTCN.AS | WINC.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.00% | -14.81% | -34.19% |
Max Drawdown (1Y)Largest decline over 1 year | -49.00% | -6.77% | -42.23% |
Current DrawdownCurrent decline from peak | -48.93% | -0.35% | -48.58% |
Average DrawdownAverage peak-to-trough decline | -16.27% | -1.53% | -14.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.10% | 1.60% | +24.50% |
Volatility
BTCN.AS vs. WINC.AS - Volatility Comparison
iShares Bitcoin ETP (BTCN.AS) has a higher volatility of 9.86% compared to iShares World Equity High Income UCITS ETF USD Inc (WINC.AS) at 3.03%. This indicates that BTCN.AS's price experiences larger fluctuations and is considered to be riskier than WINC.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 | WINC.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.86% | 3.03% | +6.83% |
Volatility (6M)Calculated over the trailing 6-month period | 52.18% | 8.26% | +43.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.53% | 10.59% | +44.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.36% | 13.84% | +39.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.36% | 13.84% | +39.52% |
BTCN.AS vs. WINC.AS - Expense Ratio Comparison
BTCN.AS has a 0.15% expense ratio, which is lower than WINC.AS's 0.35% expense ratio.
Dividends
BTCN.AS vs. WINC.AS - Dividend Comparison
BTCN.AS has not paid dividends to shareholders, while WINC.AS's dividend yield for the trailing twelve months is around 9.64%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCN.AS iShares Bitcoin ETP | 0.00% | 0.00% | 0.00% |
WINC.AS iShares World Equity High Income UCITS ETF USD Inc | 9.64% | 9.38% | 4.88% |
Frequently Asked Questions
BTCN.AS and WINC.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, 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 0.35% for WINC.AS.
Their fees differ too: 0.15% for BTCN.AS and 0.35% for WINC.AS.
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