TTOP vs. GSY
TTOP (21Shares FTSE Crypto 10 Index ETF) and GSY (Invesco Ultra Short Duration ETF) are both exchange-traded funds - TTOP is a Cryptocurrency fund tracking the FTSE Crypto 10 Select Index, while GSY is a Ultrashort Bond fund actively managed by Invesco. TTOP is passively managed, while GSY is actively managed. Their 0.08 correlation means their historical movements had little consistent relationship. TTOP charges 0.50%/yr vs 0.22%/yr for GSY.
Performance
TTOP vs. GSY - Performance Comparison
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Returns By Period
In the year-to-date period, TTOP achieves a -30.39% return, which is significantly lower than GSY's 2.23% return.
TTOP
- 1D
- -2.70%
- 1M
- 2.44%
- 6M
- -26.85%
- YTD
- -30.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
GSY
- 1D
- 0.00%
- 1M
- 0.32%
- 6M
- 1.85%
- YTD
- 2.23%
- 1Y
- 4.24%
- 3Y*
- 5.35%
- 5Y*
- 3.77%
- 10Y*
- 2.89%
- ALL TIME*
- 1.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $31.05M | $29.31M | $31.19M | |
| $2.56K | $2.91K | $3.28K |
TTOP vs. GSY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TTOP 21Shares FTSE Crypto 10 Index ETF | -30.39% | -14.90% |
GSY Invesco Ultra Short Duration ETF | 2.23% | 0.58% |
Correlation
The correlation between TTOP and GSY is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025 | 0.08 |
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Return for Risk
TTOP vs. GSY — Risk / Return Rank
TTOP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GSY
TTOP vs. GSY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 21Shares FTSE Crypto 10 Index ETF (TTOP) and Invesco Ultra Short Duration ETF (GSY). 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.
| TTOP | GSY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 5.74 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 72.77 | — |
| Martin ratioReturn relative to average drawdown | — | 323.22 | — |
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Drawdowns
TTOP vs. GSY - Drawdown Comparison
The maximum TTOP drawdown since its inception was -44.86%, which is greater than GSY's maximum drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for TTOP and GSY.
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Drawdown Indicators
| TTOP | GSY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -12.14% | -32.72% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.06% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.25% | — |
Current DrawdownCurrent decline from peak | -40.76% | 0.00% | -40.76% |
Average DrawdownAverage peak-to-trough decline | -27.63% | -2.37% | -25.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.01% | — |
Volatility
TTOP vs. GSY - Volatility Comparison
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Volatility by Period
| TTOP | GSY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.14% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 50.04% | 0.42% | +49.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.04% | 0.59% | +49.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.04% | 1.22% | +48.82% |
TTOP vs. GSY - Expense Ratio Comparison
TTOP has a 0.50% expense ratio, which is higher than GSY's 0.22% expense ratio.
Dividends
TTOP vs. GSY - Dividend Comparison
TTOP has not paid dividends to shareholders, while GSY's dividend yield for the trailing twelve months is around 4.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 4.26% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
TTOP 21Shares FTSE Crypto 10 Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TTOP and GSY have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GSY is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GSY is cheaper with a 0.22% expense ratio, compared with 0.50% for TTOP.
GSY has the higher dividend yield at 4.26%, compared with 0.00% for TTOP.
TTOP is categorized as Cryptocurrency, while GSY is Ultrashort Bond. They also come from different issuers: 21Shares and Invesco. Their fees differ too: 0.50% for TTOP and 0.22% for GSY.
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