GOLB.L vs. BTC-USD

Last updated Jun 5, 2026

GOLB.L (Market Access NYSE Arca Gold Bugs UCITS ETF) is Precious Metals fund tracking the EMIX Global Mining Global Gold TR USD, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, GOLB.L returned 16.54%/yr vs 61.31%/yr for BTC-USD. At a 0.03 correlation, their price movements are largely independent.

Performance

GOLB.L vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.L) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GOLB.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, GOLB.L achieves a 5.89% return, which is significantly higher than BTC-USD's -26.78% return. Over the past 10 years, GOLB.L has underperformed BTC-USD with an annualized return of 16.54%, while BTC-USD has yielded a comparatively higher 61.31% annualized return.

GOLB.L

• 1D: 1.00%
• 1M: -4.70%
• YTD: 5.89%
• 6M: 9.71%
• 1Y: 72.65%
• 3Y*: 40.72%
• 5Y*: 20.34%
• 10Y*: 16.54%

BTC-USD

• 1D: 0.00%
• 1M: -20.64%
• YTD: -26.78%
• 6M: -29.06%
• 1Y: -36.46%
• 3Y*: 29.42%
• 5Y*: 12.81%
• 10Y*: 61.31%

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

GOLB.L vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOLB.L Market Access NYSE Arca Gold Bugs UCITS ETF	5.89%	138.45%	14.05%	0.34%	1.34%	-14.65%	84.95%	0.00%	0.00%	0.00%
BTC-USD Bitcoin	-29.27%	-12.95%	125.81%	140.73%	-59.81%	60.91%	292.68%	86.71%	-73.15%	1,284.82%

Correlation

The correlation between GOLB.L and BTC-USD is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Sep 21, 2012	0.03

Return for Risk

GOLB.L vs. BTC-USD — Risk / Return Rank

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

GOLB.L

GOLB.L Risk / Return Rank: 48
GOLB.L Sharpe Ratio Rank: 53
GOLB.L Sortino Ratio Rank: 44
GOLB.L Omega Ratio Rank: 46
GOLB.L Calmar Ratio Rank: 54
GOLB.L Martin Ratio Rank: 42

BTC-USD

BTC-USD Risk / Return Rank: 30
BTC-USD Sharpe Ratio Rank: 15
BTC-USD Sortino Ratio Rank: 33
BTC-USD Omega Ratio Rank: 33
BTC-USD Calmar Ratio Rank: 48
BTC-USD Martin Ratio Rank: 22

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.

GOLB.L vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.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.

	GOLB.L	BTC-USD	Difference
Sharpe ratio: Return per unit of total volatility	1.78	-0.88	+2.65
Sortino ratio: Return per unit of downside risk	2.19	-1.16	+3.35
Omega ratio: Gain probability vs. loss probability	1.29	0.87	+0.41
Calmar ratio: Return relative to maximum drawdown	2.64	-0.73	+3.38
Martin ratio: Return relative to average drawdown	6.72	-1.29	+8.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOLB.L vs. BTC-USD - Sharpe Ratio Comparison

The current GOLB.L Sharpe Ratio is 1.78, which is higher than the BTC-USD Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of GOLB.L and BTC-USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GOLB.L	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	-0.88	+2.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.24	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.91	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	1.15	-1.00

Drawdowns

GOLB.L vs. BTC-USD - Drawdown Comparison

The maximum GOLB.L drawdown since its inception was -84.29%, roughly equal to the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for GOLB.L and BTC-USD.

Drawdown Indicators

	GOLB.L	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-84.29%	-84.19%	-0.10%
Max Drawdown (1Y) Largest decline over 1 year	-28.11%	-49.84%	+21.73%
Max Drawdown (3Y) Largest decline over 3 years	-28.11%	-49.84%	+21.73%
Max Drawdown (5Y) Largest decline over 5 years	-37.60%	-73.24%	+35.64%
Max Drawdown (10Y) Largest decline over 10 years	-44.07%	-82.15%	+38.08%
Current Drawdown Current decline from peak	-23.56%	-48.61%	+25.05%
Average Drawdown Average peak-to-trough decline	-49.39%	-40.27%	-9.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.08%	33.73%	-22.65%

Volatility

GOLB.L vs. BTC-USD - Volatility Comparison

Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.L) has a higher volatility of 14.80% compared to Bitcoin (BTC-USD) at 10.36%. This indicates that GOLB.L's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLB.L	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.80%	10.36%	+4.44%
Volatility (6M) Calculated over the trailing 6-month period	33.10%	33.53%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	41.89%	34.70%	+7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.81%	44.81%	-11.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.39%	56.03%	-21.64%

Frequently Asked Questions

Can I hold both GOLB.L and BTC-USD in my portfolio?

GOLB.L and BTC-USD have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.