TTOP vs. BTCZ

Last updated Apr 1, 2026

Compare and contrast key facts about 21Shares FTSE Crypto 10 Index ETF (TTOP) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ).

TTOP and BTCZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TTOP is a passively managed fund by 21Shares that tracks the performance of the FTSE Crypto 10 Select Index. It was launched on Nov 12, 2025. BTCZ is an actively managed fund by T-Rex. It was launched on Jul 9, 2024.

Performance

TTOP vs. BTCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares FTSE Crypto 10 Index ETF (TTOP) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). The values are adjusted to include any dividend payments, if applicable.

TTOP vs. BTCZ - Yearly Performance Comparison

	2026 (YTD)	2025
TTOP 21Shares FTSE Crypto 10 Index ETF	-23.82%	-11.19%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	29.93%	16.48%

Returns By Period

In the year-to-date period, TTOP achieves a -23.82% return, which is significantly lower than BTCZ's 29.93% return.

TTOP

• 1D: 2.05%
• 1M: 3.84%
• YTD: -23.82%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCZ

• 1D: -4.04%
• 1M: -11.35%
• YTD: 29.93%
• 6M: 93.66%
• 1Y: -16.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TTOP vs. BTCZ - Expense Ratio Comparison

TTOP has a 0.50% expense ratio, which is lower than BTCZ's 0.95% expense ratio.

BTCZ

T-Rex 2X Inverse Bitcoin Daily Target ETF

TTOP

21Shares FTSE Crypto 10 Index ETF

Return for Risk

TTOP vs. BTCZ — Risk / Return Rank

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

BTCZ

BTCZ Risk / Return Rank: 11
BTCZ Sharpe Ratio Rank: 8
BTCZ Sortino Ratio Rank: 15
BTCZ Omega Ratio Rank: 15
BTCZ Calmar Ratio Rank: 9
BTCZ Martin Ratio Rank: 10

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.

TTOP vs. BTCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares FTSE Crypto 10 Index ETF (TTOP) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TTOP	BTCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.11	-0.59	-0.52

Correlation

The correlation between TTOP and BTCZ is -0.99. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

TTOP vs. BTCZ - Dividend Comparison

TTOP has not paid dividends to shareholders, while BTCZ's dividend yield for the trailing twelve months is around 0.01%.

	TTM	2025	2024
TTOP 21Shares FTSE Crypto 10 Index ETF	0.00%	0.00%	0.00%
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%

Drawdowns

TTOP vs. BTCZ - Drawdown Comparison

The maximum TTOP drawdown since its inception was -37.32%, smaller than the maximum BTCZ drawdown of -91.06%. Use the drawdown chart below to compare losses from any high point for TTOP and BTCZ.

Drawdown Indicators

	TTOP	BTCZ	Difference
Max Drawdown Largest peak-to-trough decline	-37.32%	-91.06%	+53.74%
Max Drawdown (1Y) Largest decline over 1 year	—	-68.27%	—
Current Drawdown Current decline from peak	-32.34%	-79.05%	+46.71%
Average Drawdown Average peak-to-trough decline	-18.20%	-72.74%	+54.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	48.58%	—

Volatility

Volatility by Period

	TTOP	BTCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	26.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	73.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	59.13%	90.77%	-31.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.13%	99.68%	-40.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.13%	99.68%	-40.55%