R2SC.L vs. BTC-USD

Last updated Jun 5, 2026

R2SC.L (SPDR Russell 2000 US Small Cap UCITS ETF) is Small Cap Blend Equities fund tracking the Russell 2000 TR USD, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, R2SC.L returned 11.46%/yr vs 60.90%/yr for BTC-USD. At a 0.13 correlation, their price movements are largely independent.

Performance

R2SC.L vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

R2SC.L is traded in GBP, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, R2SC.L achieves a 18.02% return, which is significantly higher than BTC-USD's -27.31% return. Over the past 10 years, R2SC.L has underperformed BTC-USD with an annualized return of 11.46%, while BTC-USD has yielded a comparatively higher 60.90% annualized return.

R2SC.L

• 1D: 1.16%
• 1M: 4.52%
• YTD: 18.02%
• 6M: 15.96%
• 1Y: 42.36%
• 3Y*: 15.55%
• 5Y*: 7.28%
• 10Y*: 11.46%

BTC-USD

• 1D: -1.08%
• 1M: -20.99%
• YTD: -27.31%
• 6M: -31.69%
• 1Y: -38.94%
• 3Y*: 31.62%
• 5Y*: 12.64%
• 10Y*: 60.90%

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

R2SC.L vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
R2SC.L SPDR Russell 2000 US Small Cap UCITS ETF	18.02%	4.66%	11.86%	12.18%	-11.55%	15.87%	15.73%	20.67%	-7.45%	4.45%
BTC-USD Bitcoin	-27.31%	-12.95%	125.81%	140.73%	-59.81%	60.91%	292.68%	86.71%	-73.15%	1,284.82%

Correlation

The correlation between R2SC.L and BTC-USD is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jul 3, 2014	0.13

The correlation between R2SC.L and BTC-USD shifts across timeframes, from 0.13 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

R2SC.L vs. BTC-USD — Risk / Return Rank

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

R2SC.L

R2SC.L Risk / Return Rank: 77
R2SC.L Sharpe Ratio Rank: 77
R2SC.L Sortino Ratio Rank: 75
R2SC.L Omega Ratio Rank: 70
R2SC.L Calmar Ratio Rank: 87
R2SC.L Martin Ratio Rank: 76

BTC-USD

BTC-USD Risk / Return Rank: 30
BTC-USD Sharpe Ratio Rank: 16
BTC-USD Sortino Ratio Rank: 34
BTC-USD Omega Ratio Rank: 32
BTC-USD Calmar Ratio Rank: 48
BTC-USD Martin Ratio Rank: 21

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.

R2SC.L vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) and Bitcoin (BTC-USD). 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.

	R2SC.L	BTC-USD	Difference
Sharpe ratio: Return per unit of total volatility	2.46	-0.93	+3.39
Sortino ratio: Return per unit of downside risk	3.32	-1.28	+4.60
Omega ratio: Gain probability vs. loss probability	1.41	0.86	+0.55
Calmar ratio: Return relative to maximum drawdown	4.88	-0.78	+5.67
Martin ratio: Return relative to average drawdown	14.39	-1.39	+15.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

R2SC.L vs. BTC-USD - Sharpe Ratio Comparison

The current R2SC.L Sharpe Ratio is 2.46, which is higher than the BTC-USD Sharpe Ratio of -0.93. The chart below compares the historical Sharpe Ratios of R2SC.L and BTC-USD, 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

	R2SC.L	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	-0.93	+3.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.23	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.90	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.14	-0.59

Drawdowns

R2SC.L vs. BTC-USD - Drawdown Comparison

The maximum R2SC.L drawdown since its inception was -35.03%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for R2SC.L and BTC-USD.

Drawdown Indicators

	R2SC.L	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-35.03%	-84.19%	+49.16%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-49.84%	+41.21%
Max Drawdown (3Y) Largest decline over 3 years	-30.00%	-49.84%	+19.84%
Max Drawdown (5Y) Largest decline over 5 years	-30.00%	-73.24%	+43.24%
Max Drawdown (10Y) Largest decline over 10 years	-35.03%	-82.15%	+47.12%
Current Drawdown Current decline from peak	-0.06%	-48.98%	+48.92%
Average Drawdown Average peak-to-trough decline	-8.51%	-40.26%	+31.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	33.59%	-30.65%

Volatility

R2SC.L vs. BTC-USD - Volatility Comparison

The current volatility for SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) is 5.17%, while Bitcoin (BTC-USD) has a volatility of 10.38%. This indicates that R2SC.L experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	R2SC.L	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	10.38%	-5.21%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	33.67%	-21.89%
Volatility (1Y) Calculated over the trailing 1-year period	17.18%	34.71%	-17.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.07%	44.81%	-24.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.78%	56.04%	-35.26%

Frequently Asked Questions

Can I hold both R2SC.L and BTC-USD in my portfolio?

R2SC.L and BTC-USD have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.