DA20.DE vs. HDX1.DE
DA20.DE (Bitwise MSCI Digital Assets Select 20 ETP) and HDX1.DE (Hashdex Nasdaq Crypto Index Europe ETP EUR) are both Cryptocurrency funds - DA20.DE tracks the MSCI Global Digital Assets Select Top 20 Capped Index while HDX1.DE tracks the Nasdaq Crypto Index. Both are passively managed. Over the past 3 years, DA20.DE returned 10.66%/yr vs 19.29%/yr for HDX1.DE. With a 0.96 correlation, they move nearly in lockstep. DA20.DE charges 1.49%/yr vs 1.00%/yr for HDX1.DE.
Performance
DA20.DE vs. HDX1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DA20.DE achieves a -33.33% return, which is significantly lower than HDX1.DE's -27.98% return.
DA20.DE
- 1D
- 0.00%
- 1M
- 1.81%
- 6M
- -39.73%
- YTD
- -33.33%
- 1Y
- -51.30%
- 3Y*
- 10.66%
- 5Y*
- —
- 10Y*
- —
HDX1.DE
- 1D
- 0.00%
- 1M
- 0.70%
- 6M
- -34.42%
- YTD
- -27.98%
- 1Y
- -47.81%
- 3Y*
- 19.29%
- 5Y*
- —
- 10Y*
- —
DA20.DE vs. HDX1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DA20.DE Bitwise MSCI Digital Assets Select 20 ETP | -33.33% | -25.93% | 90.42% | 52.76% |
HDX1.DE Hashdex Nasdaq Crypto Index Europe ETP EUR | -27.98% | -21.32% | 108.60% | 44.14% |
Correlation
The correlation between DA20.DE and HDX1.DE is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2023 | 0.96 |
The correlation between DA20.DE and HDX1.DE has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
DA20.DE vs. HDX1.DE — Risk / Return Rank
DA20.DE
HDX1.DE
DA20.DE vs. HDX1.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 Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DA20.DE | HDX1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.82 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.85 | +0.03 |
| Martin ratioReturn relative to average drawdown | -1.26 | -1.33 | +0.07 |
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Drawdowns
DA20.DE vs. HDX1.DE - Drawdown Comparison
The maximum DA20.DE drawdown since its inception was -62.91%, which is greater than HDX1.DE's maximum drawdown of -56.57%. Use the drawdown chart below to compare losses from any high point for DA20.DE and HDX1.DE.
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Drawdown Indicators
| DA20.DE | HDX1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.91% | -56.57% | -6.34% |
Max Drawdown (1Y)Largest decline over 1 year | -62.91% | -56.57% | -6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -62.91% | -56.57% | -6.34% |
Current DrawdownCurrent decline from peak | -58.37% | -51.70% | -6.67% |
Average DrawdownAverage peak-to-trough decline | -21.72% | -17.04% | -4.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.73% | 35.94% | +4.79% |
Volatility
DA20.DE vs. HDX1.DE - Volatility Comparison
Bitwise MSCI Digital Assets Select 20 ETP (DA20.DE) has a higher volatility of 11.67% compared to Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) at 10.36%. This indicates that DA20.DE's price experiences larger fluctuations and is considered to be riskier than HDX1.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 | HDX1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.67% | 10.36% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 35.28% | 31.54% | +3.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.48% | 44.13% | +6.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.85% | 50.37% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.85% | 50.37% | +2.48% |
DA20.DE vs. HDX1.DE - Expense Ratio Comparison
DA20.DE has a 1.49% expense ratio, which is higher than HDX1.DE's 1.00% expense ratio.
Dividends
DA20.DE vs. HDX1.DE - Dividend Comparison
Neither DA20.DE nor HDX1.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, DA20.DE and HDX1.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, HDX1.DE is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HDX1.DE is cheaper with a 1.00% expense ratio, compared with 1.49% for DA20.DE.
DA20.DE tracks MSCI Global Digital Assets Select Top 20 Capped Index, while HDX1.DE tracks Nasdaq Crypto Index. They also come from different issuers: Bitwise and Hashdex. Their fees differ too: 1.49% for DA20.DE and 1.00% for HDX1.DE.
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