CBUT.DE vs. GLD
CBUT.DE (iShares Blockchain Technology UCITS ETF USD (Acc)) and GLD (SPDR Gold Shares) are both exchange-traded funds - CBUT.DE is a Technology Equities fund tracking the NYSE FactSet Global Blockchain Technologies Capped, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, CBUT.DE returned 44.53%/yr vs 27.58%/yr for GLD. At a 0.05 correlation, their price movements are largely independent. CBUT.DE charges 0.50%/yr vs 0.40%/yr for GLD.
Performance
CBUT.DE vs. GLD - Performance Comparison
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Different Trading Currencies
CBUT.DE is traded in EUR, while GLD is traded in USD. To make them comparable, the GLD values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CBUT.DE achieves a 26.50% return, which is significantly higher than GLD's 4.96% return.
CBUT.DE
- 1D
- -3.41%
- 1M
- 2.84%
- YTD
- 26.50%
- 6M
- 13.62%
- 1Y
- 59.61%
- 3Y*
- 44.53%
- 5Y*
- —
- 10Y*
- —
GLD
- 1D
- 0.00%
- 1M
- -3.47%
- YTD
- 4.96%
- 6M
- 6.67%
- 1Y
- 31.01%
- 3Y*
- 27.58%
- 5Y*
- 19.45%
- 10Y*
- 12.97%
CBUT.DE vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CBUT.DE iShares Blockchain Technology UCITS ETF USD (Acc) | 26.50% | 13.17% | 12.43% | 235.40% | -36.41% |
GLD SPDR Gold Shares | 1.94% | 44.25% | 35.02% | 9.31% | 2.09% |
Correlation
The correlation between CBUT.DE and GLD is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.05 |
The correlation between CBUT.DE and GLD shifts across timeframes, from 0.05 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CBUT.DE vs. GLD — Risk / Return Rank
CBUT.DE
GLD
CBUT.DE vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Blockchain Technology UCITS ETF USD (Acc) (CBUT.DE) and SPDR Gold Shares (GLD). 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.
| CBUT.DE | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.82 | -0.36 |
| Martin ratioReturn relative to average drawdown | 2.77 | 4.30 | -1.53 |
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
| CBUT.DE | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.24 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.65 | +0.01 |
Drawdowns
CBUT.DE vs. GLD - Drawdown Comparison
The maximum CBUT.DE drawdown since its inception was -53.95%, which is greater than GLD's maximum drawdown of -37.47%. Use the drawdown chart below to compare losses from any high point for CBUT.DE and GLD.
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Drawdown Indicators
| CBUT.DE | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.95% | -37.47% | -16.48% |
Max Drawdown (1Y)Largest decline over 1 year | -43.09% | -17.14% | -25.95% |
Max Drawdown (3Y)Largest decline over 3 years | -53.95% | -17.14% | -36.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.63% | — |
Current DrawdownCurrent decline from peak | -14.86% | -15.52% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -19.96% | -12.17% | -7.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.75% | 7.23% | +15.52% |
Volatility
CBUT.DE vs. GLD - Volatility Comparison
iShares Blockchain Technology UCITS ETF USD (Acc) (CBUT.DE) has a higher volatility of 14.16% compared to SPDR Gold Shares (GLD) at 3.75%. This indicates that CBUT.DE's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBUT.DE | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.16% | 3.75% | +10.41% |
Volatility (6M)Calculated over the trailing 6-month period | 36.13% | 21.79% | +14.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.55% | 25.17% | +26.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.46% | 16.69% | +43.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.46% | 14.91% | +45.55% |
CBUT.DE vs. GLD - Expense Ratio Comparison
CBUT.DE has a 0.50% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
CBUT.DE vs. GLD - Dividend Comparison
Neither CBUT.DE nor GLD has paid dividends to shareholders.
Frequently Asked Questions
CBUT.DE and GLD 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, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLD is cheaper with a 0.40% expense ratio, compared with 0.50% for CBUT.DE.
CBUT.DE is categorized as Technology Equities, while GLD is Gold. CBUT.DE tracks NYSE FactSet Global Blockchain Technologies Capped, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.50% for CBUT.DE and 0.40% for GLD.
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