QULL vs. GBTC
Compare and contrast key facts about ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and Grayscale Bitcoin Trust (BTC) (GBTC).
QULL is a passively managed fund by UBS that tracks the performance of the MSCI USA Sector Neutral Quality Index. It was launched on Feb 5, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QULL or GBTC.
Key characteristics
| QULL | GBTC | |
|---|---|---|
| YTD Return | 48.20% | 99.94% |
| 1Y Return | 68.05% | 130.94% |
| 3Y Return (Ann) | 10.74% | 10.44% |
| Sharpe Ratio | 2.89 | 2.32 |
| Sortino Ratio | 3.57 | 2.80 |
| Omega Ratio | 1.47 | 1.33 |
| Calmar Ratio | 3.55 | 2.67 |
| Martin Ratio | 18.06 | 8.92 |
| Ulcer Index | 4.07% | 15.46% |
| Daily Std Dev | 25.29% | 59.41% |
| Max Drawdown | -51.83% | -89.91% |
| Current Drawdown | -2.29% | 0.00% |
Correlation
The correlation between QULL and GBTC is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
QULL vs. GBTC - Performance Comparison
In the year-to-date period, QULL achieves a 48.20% return, which is significantly lower than GBTC's 99.94% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
QULL vs. GBTC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and Grayscale Bitcoin Trust (BTC) (GBTC). 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.
Dividends
QULL vs. GBTC - Dividend Comparison
Neither QULL nor GBTC has paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23% |
Drawdowns
QULL vs. GBTC - Drawdown Comparison
The maximum QULL drawdown since its inception was -51.83%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for QULL and GBTC. For additional features, visit the drawdowns tool.
Volatility
QULL vs. GBTC - Volatility Comparison
The current volatility for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) is 8.05%, while Grayscale Bitcoin Trust (BTC) (GBTC) has a volatility of 17.94%. This indicates that QULL experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.