EZA vs. BTCE.DE
EZA (iShares MSCI South Africa ETF) and BTCE.DE (ETC Group Physical Bitcoin) are both exchange-traded funds - EZA is a Emerging Markets Equities fund tracking the MSCI South Africa Index, while BTCE.DE is a Cryptocurrency fund actively managed by ETC Issuance. EZA is passively managed, while BTCE.DE is actively managed. Over the past 5 years, EZA returned 9.50%/yr vs 9.35%/yr for BTCE.DE. At a 0.23 correlation, their price movements are largely independent. EZA charges 0.59%/yr vs 2.00%/yr for BTCE.DE.
Performance
EZA vs. BTCE.DE - Performance Comparison
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Different Trading Currencies
EZA is traded in USD, while BTCE.DE is traded in EUR. To make them comparable, the BTCE.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EZA achieves a -2.81% return, which is significantly higher than BTCE.DE's -27.87% return.
EZA
- 1D
- 0.89%
- 1M
- -0.73%
- YTD
- -2.81%
- 6M
- 2.77%
- 1Y
- 33.90%
- 3Y*
- 23.45%
- 5Y*
- 9.50%
- 10Y*
- 8.12%
BTCE.DE
- 1D
- -3.69%
- 1M
- -19.41%
- YTD
- -27.87%
- 6M
- -29.75%
- 1Y
- -40.70%
- 3Y*
- 31.53%
- 5Y*
- 9.35%
- 10Y*
- —
EZA vs. BTCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EZA iShares MSCI South Africa ETF | -2.81% | 75.20% | 7.16% | 1.51% | -5.18% | 7.91% | 28.07% |
BTCE.DE ETC Group Physical Bitcoin | -27.87% | -7.65% | 112.88% | 154.31% | -65.88% | 67.06% | 187.82% |
Correlation
The correlation between EZA and BTCE.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020 | 0.23 |
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Return for Risk
EZA vs. BTCE.DE — Risk / Return Rank
EZA
BTCE.DE
EZA vs. BTCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa ETF (EZA) and ETC Group Physical Bitcoin (BTCE.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.
| EZA | BTCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.84 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | -0.82 | +2.12 |
| Martin ratioReturn relative to average drawdown | 3.41 | -1.42 | +4.83 |
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Drawdowns
EZA vs. BTCE.DE - Drawdown Comparison
The maximum EZA drawdown since its inception was -64.64%, smaller than the maximum BTCE.DE drawdown of -77.07%. Use the drawdown chart below to compare losses from any high point for EZA and BTCE.DE.
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Drawdown Indicators
| EZA | BTCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.64% | -77.07% | +12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -23.31% | -49.71% | +26.40% |
Max Drawdown (3Y)Largest decline over 3 years | -23.31% | -49.71% | +26.40% |
Max Drawdown (5Y)Largest decline over 5 years | -34.94% | -77.07% | +42.13% |
Max Drawdown (10Y)Largest decline over 10 years | -62.25% | — | — |
Current DrawdownCurrent decline from peak | -18.05% | -49.71% | +31.66% |
Average DrawdownAverage peak-to-trough decline | -16.92% | -31.22% | +14.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.93% | 28.63% | -19.70% |
Volatility
EZA vs. BTCE.DE - Volatility Comparison
iShares MSCI South Africa ETF (EZA) has a higher volatility of 11.34% compared to ETC Group Physical Bitcoin (BTCE.DE) at 9.77%. This indicates that EZA's price experiences larger fluctuations and is considered to be riskier than BTCE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EZA | BTCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.34% | 9.77% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 27.03% | 31.28% | -4.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.92% | 39.98% | -8.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.86% | 53.24% | -24.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.43% | 58.56% | -27.13% |
EZA vs. BTCE.DE - Expense Ratio Comparison
EZA has a 0.59% expense ratio, which is lower than BTCE.DE's 2.00% expense ratio.
Dividends
EZA vs. BTCE.DE - Dividend Comparison
EZA's dividend yield for the trailing twelve months is around 6.34%, while BTCE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EZA iShares MSCI South Africa ETF | 6.34% | 6.16% | 7.26% | 2.84% | 3.90% | 2.05% | 5.51% | 12.27% | 3.81% | 1.55% | 4.10% | 3.03% |
Frequently Asked Questions
EZA and BTCE.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EZA is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EZA is cheaper with a 0.59% expense ratio, compared with 2.00% for BTCE.DE.
EZA is categorized as Emerging Markets Equities, while BTCE.DE is Cryptocurrency. They also come from different issuers: iShares and ETC Issuance. Their fees differ too: 0.59% for EZA and 2.00% for BTCE.DE.
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