CN vs. GBTC

Last updated Apr 3, 2026

Compare and contrast key facts about Xtrackers MSCI All China Equity ETF (CN) and Grayscale Bitcoin Trust (BTC) (GBTC).

CN is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI China All Shares. It was launched on Apr 30, 2014.

Performance

CN vs. GBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All China Equity ETF (CN) and Grayscale Bitcoin Trust (BTC) (GBTC). The values are adjusted to include any dividend payments, if applicable.

CN vs. GBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-22.41%	43.69%
GBTC Grayscale Bitcoin Trust (BTC)	-23.71%	-7.65%	113.81%	317.61%	-75.80%	7.03%	290.72%	106.56%	-82.10%	1,787.72%

Returns By Period

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GBTC

• 1D: -1.70%
• 1M: -1.94%
• YTD: -23.71%
• 6M: -45.06%
• 1Y: -24.09%
• 3Y*: 48.11%
• 5Y*: 0.50%
• 10Y*: 57.65%

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

Return for Risk

CN vs. GBTC — Risk / Return Rank

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

GBTC

GBTC Risk / Return Rank: 20
GBTC Sharpe Ratio Rank: 17
GBTC Sortino Ratio Rank: 18
GBTC Omega Ratio Rank: 19
GBTC Calmar Ratio Rank: 25
GBTC Martin Ratio Rank: 23

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.

CN vs. GBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All China Equity ETF (CN) and Grayscale Bitcoin Trust (BTC) (GBTC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CN	GBTC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.54	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.67	—

Correlation

The correlation between CN and GBTC is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CN vs. GBTC - Dividend Comparison

Neither CN nor GBTC has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
GBTC Grayscale Bitcoin Trust (BTC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.61%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	CN	GBTC	Difference
Max Drawdown Largest peak-to-trough decline	—	-89.91%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-49.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-85.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.91%	—
Current Drawdown Current decline from peak	—	-47.02%	—
Average Drawdown Average peak-to-trough decline	—	-43.48%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.57%	—

Volatility

Volatility by Period

	CN	GBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	45.22%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	64.17%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	82.54%	—