CDOT.DE vs. BTCZ

Last updated Jun 5, 2026

CDOT.DE (CoinShares Physical Staked Polkadot EUR ETP) and BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, CDOT.DE returned -73.47% vs 57.82% for BTCZ. At a correlation of -0.55, they often move in opposite directions. CDOT.DE charges 0.00%/yr vs 0.95%/yr for BTCZ.

Performance

CDOT.DE vs. BTCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CDOT.DE is traded in EUR, while BTCZ is traded in USD. To make them comparable, the BTCZ values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, CDOT.DE achieves a -40.09% return, which is significantly lower than BTCZ's 41.50% return.

CDOT.DE

• 1D: -4.83%
• 1M: -15.78%
• YTD: -40.09%
• 6M: -53.26%
• 1Y: -73.47%
• 3Y*: -39.90%
• 5Y*: —
• 10Y*: —

BTCZ

• 1D: 5.41%
• 1M: 61.56%
• YTD: 41.50%
• 6M: 53.82%
• 1Y: 57.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CDOT.DE vs. BTCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CDOT.DE CoinShares Physical Staked Polkadot EUR ETP	-40.09%	-75.15%	18.18%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	41.50%	-37.53%	-75.50%

Correlation

The correlation between CDOT.DE and BTCZ is -0.63, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.63
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024	-0.55

The correlation between CDOT.DE and BTCZ has been stable across timeframes, ranging from -0.63 to -0.55 - a consistent structural relationship.

Return for Risk

CDOT.DE vs. BTCZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CDOT.DE

CDOT.DE Risk / Return Rank: 1
CDOT.DE Sharpe Ratio Rank: 1
CDOT.DE Sortino Ratio Rank: 1
CDOT.DE Omega Ratio Rank: 1
CDOT.DE Calmar Ratio Rank: 1
CDOT.DE Martin Ratio Rank: 1

BTCZ

BTCZ Risk / Return Rank: 24
BTCZ Sharpe Ratio Rank: 21
BTCZ Sortino Ratio Rank: 27
BTCZ Omega Ratio Rank: 26
BTCZ Calmar Ratio Rank: 27
BTCZ Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CDOT.DE vs. BTCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). 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.

	CDOT.DE	BTCZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	0.66	-1.67
Sortino ratio: Return per unit of downside risk	-2.05	1.42	-3.47
Omega ratio: Gain probability vs. loss probability	0.77	1.17	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.97	1.18	-2.15
Martin ratio: Return relative to average drawdown	-1.49	2.21	-3.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDOT.DE vs. BTCZ - Sharpe Ratio Comparison

The current CDOT.DE Sharpe Ratio is -1.01, which is lower than the BTCZ Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of CDOT.DE and BTCZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CDOT.DE	BTCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.01	0.66	-1.67
Sharpe Ratio (All Time) Calculated using the full available price history	-0.60	-0.57	-0.03

Drawdowns

CDOT.DE vs. BTCZ - Drawdown Comparison

The maximum CDOT.DE drawdown since its inception was -94.66%, roughly equal to the maximum BTCZ drawdown of -91.64%. Use the drawdown chart below to compare losses from any high point for CDOT.DE and BTCZ.

Drawdown Indicators

	CDOT.DE	BTCZ	Difference
Max Drawdown Largest peak-to-trough decline	-94.66%	-91.64%	-3.02%
Max Drawdown (1Y) Largest decline over 1 year	-75.82%	-49.04%	-26.78%
Max Drawdown (3Y) Largest decline over 3 years	-90.64%	—	—
Current Drawdown Current decline from peak	-94.66%	-78.72%	-15.94%
Average Drawdown Average peak-to-trough decline	-70.87%	-74.14%	+3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.28%	26.24%	+23.04%

Volatility

CDOT.DE vs. BTCZ - Volatility Comparison

CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) have volatilities of 16.86% and 17.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDOT.DE	BTCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.86%	17.42%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	51.99%	67.78%	-15.79%
Volatility (1Y) Calculated over the trailing 1-year period	72.57%	88.54%	-15.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.58%	97.72%	-20.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.58%	97.72%	-20.14%

CDOT.DE vs. BTCZ - Expense Ratio Comparison

CDOT.DE has a 0.00% expense ratio, which is lower than BTCZ's 0.95% expense ratio.

Dividends

CDOT.DE vs. BTCZ - Dividend Comparison

CDOT.DE has not paid dividends to shareholders, while BTCZ's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%
CDOT.DE CoinShares Physical Staked Polkadot EUR ETP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CDOT.DE and BTCZ in my portfolio?

CDOT.DE and BTCZ have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CDOT.DE or BTCZ?

On fees, CDOT.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CDOT.DE or BTCZ?

CDOT.DE is cheaper with a 0.00% expense ratio, compared with 0.95% for BTCZ.

What is the main difference between CDOT.DE and BTCZ?

They also come from different issuers: CoinShares and T-Rex. Their fees differ too: 0.00% for CDOT.DE and 0.95% for BTCZ.