CETH.DE vs. DA20.DE
CETH.DE (CoinShares Physical Ethereum (ETH)) and DA20.DE (Bitwise MSCI Digital Assets Select 20 ETP) are both Cryptocurrency funds. CETH.DE is actively managed, while DA20.DE is passively managed. Over the past 3 years, CETH.DE returned -3.03%/yr vs 11.60%/yr for DA20.DE. Their correlation of 0.92 suggests significant overlap in exposure. CETH.DE charges 0.00%/yr vs 1.49%/yr for DA20.DE.
Performance
CETH.DE vs. DA20.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CETH.DE achieves a -39.33% return, which is significantly lower than DA20.DE's -35.04% return.
CETH.DE
- 1D
- -3.68%
- 1M
- -24.82%
- YTD
- -39.33%
- 6M
- -43.83%
- 1Y
- -33.29%
- 3Y*
- -3.03%
- 5Y*
- —
- 10Y*
- —
DA20.DE
- 1D
- -4.79%
- 1M
- -20.97%
- YTD
- -35.04%
- 6M
- -41.28%
- 1Y
- -42.47%
- 3Y*
- 11.60%
- 5Y*
- —
- 10Y*
- —
CETH.DE vs. DA20.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CETH.DE CoinShares Physical Ethereum (ETH) | -39.33% | -21.13% | 53.89% | 27.92% |
DA20.DE Bitwise MSCI Digital Assets Select 20 ETP | -35.04% | -25.93% | 90.42% | 53.73% |
Correlation
The correlation between CETH.DE and DA20.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2023 | 0.92 |
The correlation between CETH.DE and DA20.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
CETH.DE vs. DA20.DE — Risk / Return Rank
CETH.DE
DA20.DE
CETH.DE vs. DA20.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Ethereum (ETH) (CETH.DE) and Bitwise MSCI Digital Assets Select 20 ETP (DA20.DE). 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.
| CETH.DE | DA20.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.88 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | -0.71 | +0.17 |
| Martin ratioReturn relative to average drawdown | -0.92 | -1.21 | +0.29 |
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
| CETH.DE | DA20.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.56 | -0.84 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.22 | -0.33 |
Drawdowns
CETH.DE vs. DA20.DE - Drawdown Comparison
The maximum CETH.DE drawdown since its inception was -76.74%, which is greater than DA20.DE's maximum drawdown of -59.43%. Use the drawdown chart below to compare losses from any high point for CETH.DE and DA20.DE.
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Drawdown Indicators
| CETH.DE | DA20.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.74% | -59.43% | -17.31% |
Max Drawdown (1Y)Largest decline over 1 year | -61.38% | -59.43% | -1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -64.55% | -59.43% | -5.12% |
Current DrawdownCurrent decline from peak | -62.93% | -59.43% | -3.50% |
Average DrawdownAverage peak-to-trough decline | -42.92% | -20.27% | -22.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.18% | 35.14% | +1.04% |
Volatility
CETH.DE vs. DA20.DE - Volatility Comparison
The current volatility for CoinShares Physical Ethereum (ETH) (CETH.DE) is 10.13%, while Bitwise MSCI Digital Assets Select 20 ETP (DA20.DE) has a volatility of 10.85%. This indicates that CETH.DE experiences smaller price fluctuations and is considered to be less risky than DA20.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CETH.DE | DA20.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.13% | 10.85% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 42.06% | 36.45% | +5.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.59% | 50.62% | +8.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.66% | 52.72% | +14.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.66% | 52.72% | +14.94% |
CETH.DE vs. DA20.DE - Expense Ratio Comparison
CETH.DE has a 0.00% expense ratio, which is lower than DA20.DE's 1.49% expense ratio.
Dividends
CETH.DE vs. DA20.DE - Dividend Comparison
Neither CETH.DE nor DA20.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, CETH.DE and DA20.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, CETH.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CETH.DE is cheaper with a 0.00% expense ratio, compared with 1.49% for DA20.DE.
They also come from different issuers: CoinShares and Bitwise. Their fees differ too: 0.00% for CETH.DE and 1.49% for DA20.DE.
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