IBCJ.DE vs. BITC.AS
IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) and BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) are both exchange-traded funds - IBCJ.DE is a Europe Equities fund tracking the MSCI Poland, while BITC.AS is a Cryptocurrency fund actively managed by CoinShares. IBCJ.DE is passively managed, while BITC.AS is actively managed. Over the past 3 years, IBCJ.DE returned 30.32%/yr vs 29.34%/yr for BITC.AS. At a 0.18 correlation, their price movements are largely independent. IBCJ.DE charges 0.74%/yr vs 0.25%/yr for BITC.AS.
Performance
IBCJ.DE vs. BITC.AS - Performance Comparison
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Returns By Period
In the year-to-date period, IBCJ.DE achieves a 17.51% return, which is significantly higher than BITC.AS's -27.10% return.
IBCJ.DE
- 1D
- 2.67%
- 1M
- 5.23%
- YTD
- 17.51%
- 6M
- 22.12%
- 1Y
- 43.44%
- 3Y*
- 30.32%
- 5Y*
- 15.41%
- 10Y*
- 9.68%
BITC.AS
- 1D
- -3.60%
- 1M
- -19.17%
- YTD
- -27.10%
- 6M
- -28.56%
- 1Y
- -39.92%
- 3Y*
- 29.34%
- 5Y*
- —
- 10Y*
- —
IBCJ.DE vs. BITC.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 17.51% | 53.72% | -0.44% | 36.61% |
BITC.AS CoinShares Physical Bitcoin (BTC) ETP | -27.10% | -17.17% | 136.40% | 82.20% |
Correlation
The correlation between IBCJ.DE and BITC.AS is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2023 | 0.18 |
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Return for Risk
IBCJ.DE vs. BITC.AS — Risk / Return Rank
IBCJ.DE
BITC.AS
IBCJ.DE vs. BITC.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) and CoinShares Physical Bitcoin (BTC) ETP (BITC.AS). 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.
| IBCJ.DE | BITC.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.71 | ||
| Sortino ratioReturn per unit of downside risk | +3.89 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.84 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | -0.81 | +4.79 |
| Martin ratioReturn relative to average drawdown | 9.85 | -1.43 | +11.28 |
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Drawdowns
IBCJ.DE vs. BITC.AS - Drawdown Comparison
The maximum IBCJ.DE drawdown since its inception was -67.13%, which is greater than BITC.AS's maximum drawdown of -49.38%. Use the drawdown chart below to compare losses from any high point for IBCJ.DE and BITC.AS.
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Drawdown Indicators
| IBCJ.DE | BITC.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.13% | -49.38% | -17.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -49.38% | +39.40% |
Max Drawdown (3Y)Largest decline over 3 years | -18.52% | -49.38% | +30.86% |
Max Drawdown (5Y)Largest decline over 5 years | -47.29% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -56.09% | — | — |
Current DrawdownCurrent decline from peak | -0.12% | -48.60% | +48.48% |
Average DrawdownAverage peak-to-trough decline | -39.39% | -13.07% | -26.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.03% | 28.31% | -24.28% |
Volatility
IBCJ.DE vs. BITC.AS - Volatility Comparison
The current volatility for iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) is 7.09%, while CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) has a volatility of 9.70%. This indicates that IBCJ.DE experiences smaller price fluctuations and is considered to be less risky than BITC.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCJ.DE | BITC.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 9.70% | -2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 17.74% | 29.08% | -11.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.41% | 39.42% | -16.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.73% | 45.62% | -18.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.10% | 45.62% | -20.52% |
IBCJ.DE vs. BITC.AS - Expense Ratio Comparison
IBCJ.DE has a 0.74% expense ratio, which is higher than BITC.AS's 0.25% expense ratio.
Dividends
IBCJ.DE vs. BITC.AS - Dividend Comparison
Neither IBCJ.DE nor BITC.AS has paid dividends to shareholders.
Frequently Asked Questions
IBCJ.DE and BITC.AS have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BITC.AS is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BITC.AS is cheaper with a 0.25% expense ratio, compared with 0.74% for IBCJ.DE.
IBCJ.DE is categorized as Europe Equities, while BITC.AS is Cryptocurrency. They also come from different issuers: iShares and CoinShares. Their fees differ too: 0.74% for IBCJ.DE and 0.25% for BITC.AS.
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