CSDA.DE vs. 2BTC.DE
CSDA.DE (CoinShares Physical Staked Cardano EUR) and 2BTC.DE (21Shares Bitcoin ETP) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, CSDA.DE returned -20.11%/yr vs 28.78%/yr for 2BTC.DE. A 0.76 correlation means they provide meaningful diversification when combined. CSDA.DE charges 0.00%/yr vs 1.49%/yr for 2BTC.DE.
Performance
CSDA.DE vs. 2BTC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CSDA.DE achieves a -44.92% return, which is significantly lower than 2BTC.DE's -26.93% return.
CSDA.DE
- 1D
- -10.51%
- 1M
- -27.73%
- YTD
- -44.92%
- 6M
- -53.80%
- 1Y
- -71.72%
- 3Y*
- -20.11%
- 5Y*
- —
- 10Y*
- —
2BTC.DE
- 1D
- -3.67%
- 1M
- -20.97%
- YTD
- -26.93%
- 6M
- -28.54%
- 1Y
- -40.80%
- 3Y*
- 28.78%
- 5Y*
- 11.03%
- 10Y*
- —
CSDA.DE vs. 2BTC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CSDA.DE CoinShares Physical Staked Cardano EUR | -44.92% | -63.21% | 50.69% | 155.13% | -67.95% |
2BTC.DE 21Shares Bitcoin ETP | -26.93% | -17.79% | 127.95% | 147.44% | -56.83% |
Correlation
The correlation between CSDA.DE and 2BTC.DE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2022 | 0.76 |
The correlation between CSDA.DE and 2BTC.DE has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.
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Return for Risk
CSDA.DE vs. 2BTC.DE — Risk / Return Rank
CSDA.DE
2BTC.DE
CSDA.DE vs. 2BTC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Staked Cardano EUR (CSDA.DE) and 21Shares Bitcoin ETP (2BTC.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.
| CSDA.DE | 2BTC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.83 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.83 | -0.08 |
| Martin ratioReturn relative to average drawdown | -1.43 | -1.45 | +0.03 |
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
| CSDA.DE | 2BTC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -1.04 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | 0.62 | -0.95 |
Drawdowns
CSDA.DE vs. 2BTC.DE - Drawdown Comparison
The maximum CSDA.DE drawdown since its inception was -85.65%, which is greater than 2BTC.DE's maximum drawdown of -74.55%. Use the drawdown chart below to compare losses from any high point for CSDA.DE and 2BTC.DE.
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Drawdown Indicators
| CSDA.DE | 2BTC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.65% | -74.55% | -11.10% |
Max Drawdown (1Y)Largest decline over 1 year | -79.03% | -49.73% | -29.30% |
Max Drawdown (3Y)Largest decline over 3 years | -85.65% | -49.73% | -35.92% |
Max Drawdown (5Y)Largest decline over 5 years | — | -74.55% | — |
Current DrawdownCurrent decline from peak | -85.65% | -49.12% | -36.53% |
Average DrawdownAverage peak-to-trough decline | -58.16% | -30.26% | -27.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.71% | 28.45% | +22.26% |
Volatility
CSDA.DE vs. 2BTC.DE - Volatility Comparison
CoinShares Physical Staked Cardano EUR (CSDA.DE) has a higher volatility of 16.06% compared to 21Shares Bitcoin ETP (2BTC.DE) at 9.87%. This indicates that CSDA.DE's price experiences larger fluctuations and is considered to be riskier than 2BTC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSDA.DE | 2BTC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.06% | 9.87% | +6.19% |
Volatility (6M)Calculated over the trailing 6-month period | 48.32% | 31.32% | +17.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.23% | 39.83% | +29.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.33% | 52.82% | +30.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.33% | 57.93% | +25.40% |
CSDA.DE vs. 2BTC.DE - Expense Ratio Comparison
CSDA.DE has a 0.00% expense ratio, which is lower than 2BTC.DE's 1.49% expense ratio.
Dividends
CSDA.DE vs. 2BTC.DE - Dividend Comparison
Neither CSDA.DE nor 2BTC.DE has paid dividends to shareholders.
Frequently Asked Questions
CSDA.DE and 2BTC.DE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSDA.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSDA.DE is cheaper with a 0.00% expense ratio, compared with 1.49% for 2BTC.DE.
They also come from different issuers: CoinShares and 21Shares. Their fees differ too: 0.00% for CSDA.DE and 1.49% for 2BTC.DE.
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