HDXM.DE vs. CSSC.DE
Compare and contrast key facts about Hashdex Crypto Momentum Factor ETN (HDXM.DE) and CoinShares Physical Smart Contract Platform ETP (CSSC.DE).
HDXM.DE and CSSC.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HDXM.DE is a passively managed fund by Hashdex that tracks the performance of the Kaiko Hashdex Risk Parity Momentum Crypto Index. It was launched on Nov 1, 2022. CSSC.DE is an actively managed fund by CoinShares. It was launched on Mar 27, 2023.
Performance
HDXM.DE vs. CSSC.DE - Performance Comparison
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HDXM.DE vs. CSSC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HDXM.DE Hashdex Crypto Momentum Factor ETN | -17.42% | -35.51% | 65.37% | 73.75% |
CSSC.DE CoinShares Physical Smart Contract Platform ETP | -23.32% | -35.55% | 50.17% | 86.11% |
Returns By Period
In the year-to-date period, HDXM.DE achieves a -17.42% return, which is significantly higher than CSSC.DE's -23.32% return.
HDXM.DE
- 1D
- 1.40%
- 1M
- 3.07%
- YTD
- -17.42%
- 6M
- -45.85%
- 1Y
- -28.59%
- 3Y*
- 12.95%
- 5Y*
- —
- 10Y*
- —
CSSC.DE
- 1D
- 2.22%
- 1M
- 1.03%
- YTD
- -23.32%
- 6M
- -53.46%
- 1Y
- -22.32%
- 3Y*
- 8.39%
- 5Y*
- —
- 10Y*
- —
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HDXM.DE vs. CSSC.DE - Expense Ratio Comparison
HDXM.DE has a 1.49% expense ratio, which is higher than CSSC.DE's 0.00% expense ratio.
Return for Risk
HDXM.DE vs. CSSC.DE — Risk / Return Rank
HDXM.DE
CSSC.DE
HDXM.DE vs. CSSC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Crypto Momentum Factor ETN (HDXM.DE) and CoinShares Physical Smart Contract Platform ETP (CSSC.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.
| HDXM.DE | CSSC.DE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.62 | -0.37 | -0.24 |
Sortino ratioReturn per unit of downside risk | -0.68 | -0.18 | -0.51 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.98 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | -0.54 | -0.36 | -0.18 |
Martin ratioReturn relative to average drawdown | -1.02 | -0.70 | -0.31 |
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
| HDXM.DE | CSSC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | -0.37 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.19 | +0.01 |
Correlation
The correlation between HDXM.DE and CSSC.DE is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HDXM.DE vs. CSSC.DE - Dividend Comparison
Neither HDXM.DE nor CSSC.DE has paid dividends to shareholders.
Drawdowns
HDXM.DE vs. CSSC.DE - Drawdown Comparison
The maximum HDXM.DE drawdown since its inception was -62.68%, roughly equal to the maximum CSSC.DE drawdown of -65.21%. Use the drawdown chart below to compare losses from any high point for HDXM.DE and CSSC.DE.
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Drawdown Indicators
| HDXM.DE | CSSC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.68% | -65.21% | +2.53% |
Max Drawdown (1Y)Largest decline over 1 year | -53.24% | -61.70% | +8.46% |
Current DrawdownCurrent decline from peak | -59.55% | -60.91% | +1.36% |
Average DrawdownAverage peak-to-trough decline | -23.80% | -26.30% | +2.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.15% | 31.53% | -3.38% |
Volatility
HDXM.DE vs. CSSC.DE - Volatility Comparison
The current volatility for Hashdex Crypto Momentum Factor ETN (HDXM.DE) is 9.70%, while CoinShares Physical Smart Contract Platform ETP (CSSC.DE) has a volatility of 14.26%. This indicates that HDXM.DE experiences smaller price fluctuations and is considered to be less risky than CSSC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDXM.DE | CSSC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.70% | 14.26% | -4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 33.52% | 41.45% | -7.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.35% | 59.73% | -13.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.59% | 60.71% | -7.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.59% | 60.71% | -7.12% |