HDX1.DE vs. BITW
HDX1.DE (Hashdex Nasdaq Crypto Index Europe ETP EUR) is Cryptocurrency fund tracking the Nasdaq Crypto Index, while BITW (Bitwise 10 Crypto Index Fund) is a stock. Over the past 3 years, HDX1.DE returned 19.62%/yr vs 53.80%/yr for BITW. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
HDX1.DE vs. BITW - Performance Comparison
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Different Trading Currencies
HDX1.DE is traded in EUR, while BITW is traded in USD. To make them comparable, the BITW values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with HDX1.DE having a -29.97% return and BITW slightly higher at -29.58%.
HDX1.DE
- 1D
- -3.83%
- 1M
- -21.30%
- YTD
- -29.97%
- 6M
- -35.11%
- 1Y
- -41.94%
- 3Y*
- 19.62%
- 5Y*
- —
- 10Y*
- —
BITW
- 1D
- -2.59%
- 1M
- -21.64%
- YTD
- -29.58%
- 6M
- -34.56%
- 1Y
- -34.54%
- 3Y*
- 53.80%
- 5Y*
- -7.27%
- 10Y*
- —
HDX1.DE vs. BITW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HDX1.DE Hashdex Nasdaq Crypto Index Europe ETP EUR | -29.97% | -21.32% | 108.60% | 133.00% | -27.55% |
BITW Bitwise 10 Crypto Index Fund | -29.58% | -14.19% | 177.90% | 318.17% | -57.94% |
Correlation
The correlation between HDX1.DE and BITW is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2022 | 0.62 |
Over the past year, HDX1.DE and BITW have become more correlated (0.83) than their long-term average of 0.62, meaning their price movements have been converging.
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Return for Risk
HDX1.DE vs. BITW — Risk / Return Rank
HDX1.DE
BITW
HDX1.DE vs. BITW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) and Bitwise 10 Crypto Index Fund (BITW). 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.
| HDX1.DE | BITW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.90 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.66 | -0.13 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.14 | -0.22 |
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
| HDX1.DE | BITW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.96 | -0.71 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.23 | +0.16 |
Drawdowns
HDX1.DE vs. BITW - Drawdown Comparison
The maximum HDX1.DE drawdown since its inception was -53.03%, smaller than the maximum BITW drawdown of -95.93%. Use the drawdown chart below to compare losses from any high point for HDX1.DE and BITW.
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Drawdown Indicators
| HDX1.DE | BITW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.03% | -95.93% | +42.90% |
Max Drawdown (1Y)Largest decline over 1 year | -53.03% | -52.36% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -53.03% | -52.36% | -0.67% |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.98% | — |
Current DrawdownCurrent decline from peak | -53.03% | -69.09% | +16.06% |
Average DrawdownAverage peak-to-trough decline | -16.03% | -67.54% | +51.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.87% | 30.29% | +0.58% |
Volatility
HDX1.DE vs. BITW - Volatility Comparison
Hashdex Nasdaq Crypto Index Europe ETP EUR (HDX1.DE) has a higher volatility of 10.07% compared to Bitwise 10 Crypto Index Fund (BITW) at 9.05%. This indicates that HDX1.DE's price experiences larger fluctuations and is considered to be riskier than BITW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDX1.DE | BITW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.07% | 9.05% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 32.86% | 36.27% | -3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.43% | 48.55% | -5.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.02% | 65.58% | -14.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.02% | 107.98% | -56.96% |
Dividends
HDX1.DE vs. BITW - Dividend Comparison
Neither HDX1.DE nor BITW has paid dividends to shareholders.
Frequently Asked Questions
HDX1.DE and BITW have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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