CPYG.DE vs. AXTZ.DE
CPYG.DE (CoinShares Physical Polygon Staked ETP) and AXTZ.DE (21Shares Tezos ETP) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, CPYG.DE returned -52.89%/yr vs -32.63%/yr for AXTZ.DE. A 0.71 correlation means they provide meaningful diversification when combined. CPYG.DE charges 0.00%/yr vs 2.50%/yr for AXTZ.DE.
Performance
CPYG.DE vs. AXTZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CPYG.DE achieves a -10.39% return, which is significantly higher than AXTZ.DE's -43.40% return.
CPYG.DE
- 1D
- -3.90%
- 1M
- -6.42%
- YTD
- -10.39%
- 6M
- -23.02%
- 1Y
- -56.81%
- 3Y*
- -52.89%
- 5Y*
- —
- 10Y*
- —
AXTZ.DE
- 1D
- -6.73%
- 1M
- -24.32%
- YTD
- -43.40%
- 6M
- -41.00%
- 1Y
- -52.54%
- 3Y*
- -32.63%
- 5Y*
- —
- 10Y*
- —
CPYG.DE vs. AXTZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CPYG.DE CoinShares Physical Polygon Staked ETP | -10.39% | -79.89% | -49.31% | 33.78% | 72.29% |
AXTZ.DE 21Shares Tezos ETP | -43.40% | -66.56% | 36.70% | 47.10% | -52.63% |
Correlation
The correlation between CPYG.DE and AXTZ.DE is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.71 |
The correlation between CPYG.DE and AXTZ.DE has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.
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Return for Risk
CPYG.DE vs. AXTZ.DE — Risk / Return Rank
CPYG.DE
AXTZ.DE
CPYG.DE vs. AXTZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Polygon Staked ETP (CPYG.DE) and 21Shares Tezos ETP (AXTZ.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.
| CPYG.DE | AXTZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.88 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.73 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.09 | -0.11 |
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
| CPYG.DE | AXTZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | -0.69 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.39 | -0.56 | +0.16 |
Drawdowns
CPYG.DE vs. AXTZ.DE - Drawdown Comparison
The maximum CPYG.DE drawdown since its inception was -94.37%, roughly equal to the maximum AXTZ.DE drawdown of -96.49%. Use the drawdown chart below to compare losses from any high point for CPYG.DE and AXTZ.DE.
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Drawdown Indicators
| CPYG.DE | AXTZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.37% | -96.49% | +2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -70.68% | -73.59% | +2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -93.71% | -85.06% | -8.65% |
Current DrawdownCurrent decline from peak | -93.73% | -96.49% | +2.76% |
Average DrawdownAverage peak-to-trough decline | -57.57% | -82.47% | +24.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.79% | 48.91% | -1.12% |
Volatility
CPYG.DE vs. AXTZ.DE - Volatility Comparison
The current volatility for CoinShares Physical Polygon Staked ETP (CPYG.DE) is 12.32%, while 21Shares Tezos ETP (AXTZ.DE) has a volatility of 15.03%. This indicates that CPYG.DE experiences smaller price fluctuations and is considered to be less risky than AXTZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPYG.DE | AXTZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.32% | 15.03% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 44.91% | 39.53% | +5.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.28% | 77.77% | -11.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.06% | 84.40% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.06% | 84.40% | -2.34% |
CPYG.DE vs. AXTZ.DE - Expense Ratio Comparison
CPYG.DE has a 0.00% expense ratio, which is lower than AXTZ.DE's 2.50% expense ratio.
Dividends
CPYG.DE vs. AXTZ.DE - Dividend Comparison
Neither CPYG.DE nor AXTZ.DE has paid dividends to shareholders.
Frequently Asked Questions
CPYG.DE and AXTZ.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CPYG.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CPYG.DE is cheaper with a 0.00% expense ratio, compared with 2.50% for AXTZ.DE.
They also come from different issuers: CoinShares and 21Shares. Their fees differ too: 0.00% for CPYG.DE and 2.50% for AXTZ.DE.
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