SPYI.DE vs. BITC.DE
SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) and BITC.DE (CoinShares Physical Bitcoin (BTC) EUR ETP) are both exchange-traded funds - SPYI.DE is a Global Equities fund tracking the MSCI All Country World Investable Market (ACWI IMI), while BITC.DE is a Cryptocurrency fund actively managed by CoinShares. SPYI.DE is passively managed, while BITC.DE is actively managed. Over the past 3 years, SPYI.DE returned 16.73%/yr vs 30.09%/yr for BITC.DE. At a 0.39 correlation, their price movements are largely independent. SPYI.DE charges 0.17%/yr vs 0.25%/yr for BITC.DE.
Performance
SPYI.DE vs. BITC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYI.DE achieves a 12.53% return, which is significantly higher than BITC.DE's -26.37% return.
SPYI.DE
- 1D
- 1.91%
- 1M
- 2.37%
- YTD
- 12.53%
- 6M
- 14.24%
- 1Y
- 27.76%
- 3Y*
- 16.73%
- 5Y*
- 11.62%
- 10Y*
- 12.27%
BITC.DE
- 1D
- -3.77%
- 1M
- -19.18%
- YTD
- -26.37%
- 6M
- -28.36%
- 1Y
- -39.95%
- 3Y*
- 30.09%
- 5Y*
- —
- 10Y*
- —
SPYI.DE vs. BITC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF | 12.53% | 9.07% | 22.98% | 17.54% | -12.93% | 13.42% |
BITC.DE CoinShares Physical Bitcoin (BTC) EUR ETP | -26.37% | -16.94% | 129.58% | 149.42% | -63.64% | 40.79% |
Correlation
The correlation between SPYI.DE and BITC.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2021 | 0.39 |
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Return for Risk
SPYI.DE vs. BITC.DE — Risk / Return Rank
SPYI.DE
BITC.DE
SPYI.DE vs. BITC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) and CoinShares Physical Bitcoin (BTC) EUR ETP (BITC.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.
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.
| SPYI.DE | BITC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.31 | ||
| Sortino ratioReturn per unit of downside risk | +4.71 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.84 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 4.20 | -0.82 | +5.02 |
| Martin ratioReturn relative to average drawdown | 16.67 | -1.44 | +18.12 |
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Drawdowns
SPYI.DE vs. BITC.DE - Drawdown Comparison
The maximum SPYI.DE drawdown since its inception was -41.58%, smaller than the maximum BITC.DE drawdown of -74.39%. Use the drawdown chart below to compare losses from any high point for SPYI.DE and BITC.DE.
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Drawdown Indicators
| SPYI.DE | BITC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -74.39% | +32.81% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -49.43% | +42.98% |
Max Drawdown (3Y)Largest decline over 3 years | -21.64% | -49.43% | +27.79% |
Max Drawdown (5Y)Largest decline over 5 years | -21.64% | -74.39% | +52.75% |
Max Drawdown (10Y)Largest decline over 10 years | -34.49% | — | — |
Current DrawdownCurrent decline from peak | -1.23% | -48.65% | +47.42% |
Average DrawdownAverage peak-to-trough decline | -8.43% | -32.17% | +23.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 28.17% | -26.54% |
Volatility
SPYI.DE vs. BITC.DE - Volatility Comparison
The current volatility for SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) is 3.48%, while CoinShares Physical Bitcoin (BTC) EUR ETP (BITC.DE) has a volatility of 9.92%. This indicates that SPYI.DE experiences smaller price fluctuations and is considered to be less risky than BITC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYI.DE | BITC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 9.92% | -6.44% |
Volatility (6M)Calculated over the trailing 6-month period | 8.52% | 31.32% | -22.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 40.71% | -28.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.96% | 52.71% | -38.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.96% | 52.71% | -36.75% |
SPYI.DE vs. BITC.DE - Expense Ratio Comparison
SPYI.DE has a 0.17% expense ratio, which is lower than BITC.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPYI.DE vs. BITC.DE - Dividend Comparison
Neither SPYI.DE nor BITC.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYI.DE and BITC.DE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYI.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYI.DE is cheaper with a 0.17% expense ratio, compared with 0.25% for BITC.DE.
SPYI.DE is categorized as Global Equities, while BITC.DE is Cryptocurrency. They also come from different issuers: State Street and CoinShares. Their fees differ too: 0.17% for SPYI.DE and 0.25% for BITC.DE.
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