ERO.L vs. BTC-USD
ERO.L (SPDR MSCI Europe UCITS ETF) is Europe Equities fund tracking the MSCI Europe NR EUR, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, ERO.L returned 10.13%/yr vs 60.90%/yr for BTC-USD. At a 0.10 correlation, their price movements are largely independent.
Performance
ERO.L vs. BTC-USD - Performance Comparison
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Different Trading Currencies
ERO.L is traded in GBP, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERO.L achieves a 6.83% return, which is significantly higher than BTC-USD's -27.31% return. Over the past 10 years, ERO.L has underperformed BTC-USD with an annualized return of 10.13%, while BTC-USD has yielded a comparatively higher 60.90% annualized return.
ERO.L
- 1D
- 0.59%
- 1M
- 3.70%
- YTD
- 6.83%
- 6M
- 8.78%
- 1Y
- 19.36%
- 3Y*
- 13.78%
- 5Y*
- 10.01%
- 10Y*
- 10.13%
BTC-USD
- 1D
- -1.08%
- 1M
- -20.99%
- YTD
- -27.31%
- 6M
- -31.69%
- 1Y
- -38.94%
- 3Y*
- 31.62%
- 5Y*
- 12.64%
- 10Y*
- 60.90%
ERO.L vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERO.L SPDR MSCI Europe UCITS ETF | 6.83% | 25.68% | 3.93% | 13.00% | -3.77% | 16.91% | 2.21% | 19.36% | -9.30% | 14.82% |
BTC-USD Bitcoin | -27.31% | -12.95% | 125.81% | 140.73% | -59.81% | 60.91% | 292.68% | 86.71% | -73.15% | 1,284.82% |
Correlation
The correlation between ERO.L and BTC-USD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014 | 0.10 |
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Return for Risk
ERO.L vs. BTC-USD — Risk / Return Rank
ERO.L
BTC-USD
ERO.L vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe UCITS ETF (ERO.L) and Bitcoin (BTC-USD). 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.
| ERO.L | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +3.48 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.86 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | -0.78 | +2.58 |
| Martin ratioReturn relative to average drawdown | 6.40 | -1.39 | +7.79 |
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
| ERO.L | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | -0.93 | +2.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.23 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.90 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 1.14 | -0.54 |
Drawdowns
ERO.L vs. BTC-USD - Drawdown Comparison
The maximum ERO.L drawdown since its inception was -28.41%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for ERO.L and BTC-USD.
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Drawdown Indicators
| ERO.L | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.41% | -84.19% | +55.78% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -49.84% | +39.11% |
Max Drawdown (3Y)Largest decline over 3 years | -12.84% | -49.84% | +37.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.76% | -73.24% | +57.48% |
Max Drawdown (10Y)Largest decline over 10 years | -28.41% | -82.15% | +53.74% |
Current DrawdownCurrent decline from peak | -1.28% | -48.98% | +47.70% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -40.26% | +35.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 33.59% | -30.57% |
Volatility
ERO.L vs. BTC-USD - Volatility Comparison
The current volatility for SPDR MSCI Europe UCITS ETF (ERO.L) is 3.96%, while Bitcoin (BTC-USD) has a volatility of 10.38%. This indicates that ERO.L experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERO.L | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 10.38% | -6.42% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 33.67% | -23.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.35% | 34.71% | -22.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.81% | 44.81% | -31.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 56.04% | -41.13% |
Frequently Asked Questions
ERO.L and BTC-USD have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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