ESJS.L vs. BITX

Last updated Jul 18, 2026

ESJS.L (Invesco MSCI Japan ESG Universal Screened UCITS ETF Acc) and BITX (2x Bitcoin Strategy ETF) are both exchange-traded funds - ESJS.L is a Japan Equities fund tracking the TOPIX TR JPY, while BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%). Both are passively managed. Over the past 3 years, ESJS.L returned 16.70%/yr vs 3.99%/yr for BITX. At a 0.11 correlation, their price movements are largely independent. ESJS.L charges 0.19%/yr vs 2.38%/yr for BITX.

Performance

ESJS.L vs. BITX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI Japan ESG Universal Screened UCITS ETF Acc (ESJS.L) and 2x Bitcoin Strategy ETF (BITX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ESJS.L is traded in GBp, while BITX is traded in USD. To make them comparable, the BITX values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ESJS.L achieves a 14.30% return, which is significantly higher than BITX's -55.56% return.

ESJS.L

• 1D: -0.97%
• 1M: -3.72%
• 6M: 7.59%
• YTD: 14.30%
• 1Y: 32.76%
• 3Y*: 16.70%
• 5Y*: 9.73%
• 10Y*: —

BITX

• 1D: -0.24%
• 1M: -3.21%
• 6M: -62.51%
• YTD: -55.56%
• 1Y: -79.46%
• 3Y*: 3.99%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESJS.L vs. BITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ESJS.L Invesco MSCI Japan ESG Universal Screened UCITS ETF Acc	14.30%	18.47%	9.64%	6.50%
BITX 2x Bitcoin Strategy ETF	-55.56%	-43.08%	168.01%	46.36%

Correlation

The correlation between ESJS.L and BITX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023	0.11

Return for Risk

ESJS.L vs. BITX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESJS.L

ESJS.L Risk / Return Rank: 74
ESJS.L Sharpe Ratio Rank: 73
ESJS.L Sortino Ratio Rank: 70
ESJS.L Omega Ratio Rank: 72
ESJS.L Calmar Ratio Rank: 81
ESJS.L Martin Ratio Rank: 72

BITX

BITX Risk / Return Rank: 1
BITX Sharpe Ratio Rank: 2
BITX Sortino Ratio Rank: 1
BITX Omega Ratio Rank: 1
BITX Calmar Ratio Rank: 1
BITX Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESJS.L vs. BITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Japan ESG Universal Screened UCITS ETF Acc (ESJS.L) and 2x Bitcoin Strategy ETF (BITX). 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.

	ESJS.L	BITX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	-0.92	+2.69
Sortino ratio: Return per unit of downside risk	2.43	-1.85	+4.29
Omega ratio: Gain probability vs. loss probability	1.32	0.80	+0.52
Calmar ratio: Return relative to maximum drawdown	3.21	-0.96	+4.17
Martin ratio: Return relative to average drawdown	9.71	-1.39	+11.10

ESJS.L vs. BITX - Sharpe Ratio Comparison

The current ESJS.L Sharpe Ratio is 1.76, which is higher than the BITX Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of ESJS.L and BITX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ESJS.L vs. BITX - Drawdown Comparison

The maximum ESJS.L drawdown since its inception was -37.23%, smaller than the maximum BITX drawdown of -83.86%. Use the drawdown chart below to compare losses from any high point for ESJS.L and BITX.

Drawdown Indicators

	ESJS.L	BITX	Difference
Max Drawdown Largest peak-to-trough decline	-37.23%	-83.86%	+46.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.62%	-83.13%	+72.51%
Max Drawdown (3Y) Largest decline over 3 years	-14.59%	-83.86%	+69.27%
Max Drawdown (5Y) Largest decline over 5 years	-19.38%	—	—
Current Drawdown Current decline from peak	-6.10%	-81.15%	+75.05%
Average Drawdown Average peak-to-trough decline	-21.66%	-34.31%	+12.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	57.02%	-53.50%

Volatility

ESJS.L vs. BITX - Volatility Comparison

The current volatility for Invesco MSCI Japan ESG Universal Screened UCITS ETF Acc (ESJS.L) is 6.75%, while 2x Bitcoin Strategy ETF (BITX) has a volatility of 20.20%. This indicates that ESJS.L experiences smaller price fluctuations and is considered to be less risky than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESJS.L	BITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	20.20%	-13.45%
Volatility (6M) Calculated over the trailing 6-month period	15.89%	67.97%	-52.08%
Volatility (1Y) Calculated over the trailing 1-year period	19.35%	86.24%	-66.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	96.97%	-80.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.00%	96.97%	-76.97%

ESJS.L vs. BITX - Expense Ratio Comparison

ESJS.L has a 0.19% expense ratio, which is lower than BITX's 2.38% expense ratio.

Dividends

ESJS.L vs. BITX - Dividend Comparison

ESJS.L has not paid dividends to shareholders, while BITX's dividend yield for the trailing twelve months is around 31.48%.

Position	TTM	2025	2024
BITX 2x Bitcoin Strategy ETF	31.48%	21.69%	10.70%
ESJS.L Invesco MSCI Japan ESG Universal Screened UCITS ETF Acc	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ESJS.L and BITX in my portfolio?

ESJS.L and BITX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESJS.L or BITX?

On fees, ESJS.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESJS.L or BITX?

ESJS.L is cheaper with a 0.19% expense ratio, compared with 2.38% for BITX.

What is the main difference between ESJS.L and BITX?

ESJS.L is categorized as Japan Equities, while BITX is Cryptocurrency. ESJS.L tracks TOPIX TR JPY, while BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%). They also come from different issuers: Invesco and Volatility Shares. Their fees differ too: 0.19% for ESJS.L and 2.38% for BITX.