DA20.DE vs. CETH.DE
DA20.DE (Bitwise MSCI Digital Assets Select 20 ETP) and CETH.DE (CoinShares Physical Ethereum (ETH)) are both Cryptocurrency funds. DA20.DE is passively managed, while CETH.DE is actively managed. Over the past 3 years, DA20.DE returned 11.60%/yr vs -3.03%/yr for CETH.DE. Their correlation of 0.92 suggests significant overlap in exposure. DA20.DE charges 1.49%/yr vs 0.00%/yr for CETH.DE.
Performance
DA20.DE vs. CETH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DA20.DE achieves a -35.04% return, which is significantly higher than CETH.DE's -39.33% return.
DA20.DE
- 1D
- -4.79%
- 1M
- -21.08%
- YTD
- -35.04%
- 6M
- -38.56%
- 1Y
- -41.32%
- 3Y*
- 11.60%
- 5Y*
- —
- 10Y*
- —
CETH.DE
- 1D
- -3.68%
- 1M
- -23.61%
- YTD
- -39.33%
- 6M
- -41.17%
- 1Y
- -31.65%
- 3Y*
- -3.03%
- 5Y*
- —
- 10Y*
- —
DA20.DE vs. CETH.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% |
CETH.DE CoinShares Physical Ethereum (ETH) | -39.33% | -21.13% | 53.89% | 27.92% |
Correlation
The correlation between DA20.DE and CETH.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 DA20.DE and CETH.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
DA20.DE vs. CETH.DE — Risk / Return Rank
DA20.DE
CETH.DE
DA20.DE vs. CETH.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 CoinShares Physical Ethereum (ETH) (CETH.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 | CETH.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 | 0.88 | 0.94 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | -0.54 | -0.17 |
| Martin ratioReturn relative to average drawdown | -1.21 | -0.92 | -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
| DA20.DE | CETH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | -0.56 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | -0.11 | +0.33 |
Drawdowns
DA20.DE vs. CETH.DE - Drawdown Comparison
The maximum DA20.DE drawdown since its inception was -59.43%, smaller than the maximum CETH.DE drawdown of -76.74%. Use the drawdown chart below to compare losses from any high point for DA20.DE and CETH.DE.
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Drawdown Indicators
| DA20.DE | CETH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.43% | -76.74% | +17.31% |
Max Drawdown (1Y)Largest decline over 1 year | -59.43% | -61.38% | +1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -59.43% | -64.55% | +5.12% |
Current DrawdownCurrent decline from peak | -59.43% | -62.93% | +3.50% |
Average DrawdownAverage peak-to-trough decline | -20.27% | -42.92% | +22.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.14% | 36.18% | -1.04% |
Volatility
DA20.DE vs. CETH.DE - Volatility Comparison
Bitwise MSCI Digital Assets Select 20 ETP (DA20.DE) has a higher volatility of 10.85% compared to CoinShares Physical Ethereum (ETH) (CETH.DE) at 10.13%. This indicates that DA20.DE's price experiences larger fluctuations and is considered to be riskier than CETH.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 | CETH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.85% | 10.13% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 36.45% | 42.06% | -5.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.62% | 59.59% | -8.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.72% | 67.66% | -14.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.72% | 67.66% | -14.94% |
DA20.DE vs. CETH.DE - Expense Ratio Comparison
DA20.DE has a 1.49% expense ratio, which is higher than CETH.DE's 0.00% expense ratio.
Dividends
DA20.DE vs. CETH.DE - Dividend Comparison
Neither DA20.DE nor CETH.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, DA20.DE and CETH.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: Bitwise and CoinShares. Their fees differ too: 1.49% for DA20.DE and 0.00% for CETH.DE.
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