MHEIX vs. BOLD.DE

Last updated Jun 9, 2026

MHEIX (MH Elite Income Fund of Funds) and BOLD.DE (21Shares Bitcoin Gold ETP) are both funds - MHEIX is a Global Allocation fund managed by MH Elite, while BOLD.DE is a Cryptocurrency fund actively managed by 21Shares. Over the past 3 years, MHEIX returned 6.22%/yr vs 27.91%/yr for BOLD.DE. At a 0.09 correlation, their price movements are largely independent. MHEIX charges 1.25%/yr vs 0.65%/yr for BOLD.DE.

Performance

MHEIX vs. BOLD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MH Elite Income Fund of Funds (MHEIX) and 21Shares Bitcoin Gold ETP (BOLD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MHEIX achieves a 2.28% return, which is significantly higher than BOLD.DE's -6.72% return.

MHEIX

• 1D: 0.18%
• 1M: 0.18%
• YTD: 2.28%
• 6M: 2.65%
• 1Y: 8.59%
• 3Y*: 6.22%
• 5Y*: 2.17%
• 10Y*: 3.18%

BOLD.DE

• 1D: -1.18%
• 1M: -10.62%
• YTD: -6.72%
• 6M: -5.54%
• 1Y: 2.96%
• 3Y*: 27.91%
• 5Y*: —
• 10Y*: —

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

MHEIX vs. BOLD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MHEIX MH Elite Income Fund of Funds	2.28%	4.76%	5.98%	7.55%	-1.81%
BOLD.DE 21Shares Bitcoin Gold ETP	-6.72%	25.46%	57.68%	33.01%	-10.53%

Correlation

The correlation between MHEIX and BOLD.DE is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since May 24, 2022	0.09

Return for Risk

MHEIX vs. BOLD.DE — Risk / Return Rank

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

MHEIX

MHEIX Risk / Return Rank: 38
MHEIX Sharpe Ratio Rank: 30
MHEIX Sortino Ratio Rank: 31
MHEIX Omega Ratio Rank: 75
MHEIX Calmar Ratio Rank: 32
MHEIX Martin Ratio Rank: 23

BOLD.DE

BOLD.DE Risk / Return Rank: 11
BOLD.DE Sharpe Ratio Rank: 11
BOLD.DE Sortino Ratio Rank: 11
BOLD.DE Omega Ratio Rank: 11
BOLD.DE Calmar Ratio Rank: 11
BOLD.DE Martin Ratio Rank: 11

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.

MHEIX vs. BOLD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MH Elite Income Fund of Funds (MHEIX) and 21Shares Bitcoin Gold ETP (BOLD.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.

	MHEIX	BOLD.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.39	0.10	+1.30
Sortino ratio: Return per unit of downside risk	2.03	0.29	+1.74
Omega ratio: Gain probability vs. loss probability	1.44	1.04	+0.41
Calmar ratio: Return relative to maximum drawdown	1.90	0.13	+1.77
Martin ratio: Return relative to average drawdown	4.96	0.31	+4.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MHEIX vs. BOLD.DE - Sharpe Ratio Comparison

The current MHEIX Sharpe Ratio is 1.39, which is higher than the BOLD.DE Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of MHEIX and BOLD.DE, 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

	MHEIX	BOLD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	0.10	+1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	1.18	-0.58

Drawdowns

MHEIX vs. BOLD.DE - Drawdown Comparison

The maximum MHEIX drawdown since its inception was -16.95%, roughly equal to the maximum BOLD.DE drawdown of -16.73%. Use the drawdown chart below to compare losses from any high point for MHEIX and BOLD.DE.

Drawdown Indicators

	MHEIX	BOLD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-16.95%	-16.73%	-0.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.54%	-16.73%	+12.19%
Max Drawdown (3Y) Largest decline over 3 years	-6.57%	-16.73%	+10.16%
Max Drawdown (5Y) Largest decline over 5 years	-13.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.95%	—	—
Current Drawdown Current decline from peak	-1.63%	-16.73%	+15.10%
Average Drawdown Average peak-to-trough decline	-2.47%	-4.24%	+1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	6.86%	-5.12%

Volatility

MHEIX vs. BOLD.DE - Volatility Comparison

The current volatility for MH Elite Income Fund of Funds (MHEIX) is 1.09%, while 21Shares Bitcoin Gold ETP (BOLD.DE) has a volatility of 5.37%. This indicates that MHEIX experiences smaller price fluctuations and is considered to be less risky than BOLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MHEIX	BOLD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	5.37%	-4.28%
Volatility (6M) Calculated over the trailing 6-month period	5.87%	18.78%	-12.91%
Volatility (1Y) Calculated over the trailing 1-year period	6.20%	22.16%	-15.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.56%	18.00%	-12.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	18.00%	-12.77%

MHEIX vs. BOLD.DE - Expense Ratio Comparison

MHEIX has a 1.25% expense ratio, which is higher than BOLD.DE's 0.65% expense ratio.

Dividends

MHEIX vs. BOLD.DE - Dividend Comparison

MHEIX's dividend yield for the trailing twelve months is around 3.71%, while BOLD.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOLD.DE 21Shares Bitcoin Gold ETP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MHEIX MH Elite Income Fund of Funds	3.71%	0.00%	3.33%	2.38%	3.17%	1.49%	2.30%	2.21%	2.10%	1.69%	2.48%	2.87%

Frequently Asked Questions

Can I hold both MHEIX and BOLD.DE in my portfolio?

MHEIX and BOLD.DE have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.