DA20.DE vs. BTIC.DE
DA20.DE (Bitwise MSCI Digital Assets Select 20 ETP) and BTIC.DE (Invesco Physical Bitcoin ETP) are both Cryptocurrency funds. Over the past 3 years, DA20.DE returned 11.60%/yr vs 26.72%/yr for BTIC.DE. Their correlation of 0.89 suggests significant overlap in exposure. DA20.DE charges 1.49%/yr vs 0.10%/yr for BTIC.DE.
Performance
DA20.DE vs. BTIC.DE - Performance Comparison
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Different Trading Currencies
DA20.DE is traded in EUR, while BTIC.DE is traded in USD. To make them comparable, the BTIC.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, DA20.DE achieves a -35.04% return, which is significantly lower than BTIC.DE's -25.63% return.
DA20.DE
- 1D
- -4.79%
- 1M
- -21.08%
- YTD
- -35.04%
- 6M
- -38.56%
- 1Y
- -41.32%
- 3Y*
- 11.60%
- 5Y*
- —
- 10Y*
- —
BTIC.DE
- 1D
- -3.81%
- 1M
- -20.62%
- YTD
- -25.63%
- 6M
- -30.74%
- 1Y
- -41.55%
- 3Y*
- 26.72%
- 5Y*
- —
- 10Y*
- —
DA20.DE vs. BTIC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DA20.DE Bitwise MSCI Digital Assets Select 20 ETP | -35.04% | -25.93% | 90.42% | 53.73% |
BTIC.DE Invesco Physical Bitcoin ETP | -25.62% | -26.09% | 143.52% | 55.83% |
Correlation
The correlation between DA20.DE and BTIC.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2023 | 0.89 |
The correlation between DA20.DE and BTIC.DE has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
DA20.DE vs. BTIC.DE — Risk / Return Rank
DA20.DE
BTIC.DE
DA20.DE vs. BTIC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise MSCI Digital Assets Select 20 ETP (DA20.DE) and Invesco Physical Bitcoin ETP (BTIC.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.
| DA20.DE | BTIC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.83 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | -0.83 | +0.12 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.47 | +0.27 |
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
| DA20.DE | BTIC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | -1.02 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.03 | +0.19 |
Drawdowns
DA20.DE vs. BTIC.DE - Drawdown Comparison
The maximum DA20.DE drawdown since its inception was -59.43%, smaller than the maximum BTIC.DE drawdown of -68.94%. Use the drawdown chart below to compare losses from any high point for DA20.DE and BTIC.DE.
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Drawdown Indicators
| DA20.DE | BTIC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.43% | -68.94% | +9.51% |
Max Drawdown (1Y)Largest decline over 1 year | -59.43% | -49.68% | -9.75% |
Max Drawdown (3Y)Largest decline over 3 years | -59.43% | -53.62% | -5.81% |
Current DrawdownCurrent decline from peak | -59.43% | -52.21% | -7.22% |
Average DrawdownAverage peak-to-trough decline | -20.27% | -31.90% | +11.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.14% | 28.15% | +6.99% |
Volatility
DA20.DE vs. BTIC.DE - Volatility Comparison
Bitwise MSCI Digital Assets Select 20 ETP (DA20.DE) has a higher volatility of 10.85% compared to Invesco Physical Bitcoin ETP (BTIC.DE) at 10.17%. This indicates that DA20.DE's price experiences larger fluctuations and is considered to be riskier than BTIC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DA20.DE | BTIC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.85% | 10.17% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 36.45% | 31.94% | +4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.62% | 40.61% | +10.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.72% | 50.56% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.72% | 50.56% | +2.16% |
DA20.DE vs. BTIC.DE - Expense Ratio Comparison
DA20.DE has a 1.49% expense ratio, which is higher than BTIC.DE's 0.10% expense ratio.
Dividends
DA20.DE vs. BTIC.DE - Dividend Comparison
Neither DA20.DE nor BTIC.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, DA20.DE and BTIC.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, BTIC.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTIC.DE is cheaper with a 0.10% expense ratio, compared with 1.49% for DA20.DE.
They also come from different issuers: Bitwise and Invesco. Their fees differ too: 1.49% for DA20.DE and 0.10% for BTIC.DE.
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