UBUD.DE vs. BOLD.DE

Last updated Jun 26, 2026

UBUD.DE (UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist) and BOLD.DE (21Shares Bitcoin Gold ETP) are both exchange-traded funds - UBUD.DE is a Gold fund tracking the Solactive Global Pure Gold Miners, while BOLD.DE is a Cryptocurrency fund actively managed by 21Shares. UBUD.DE is passively managed, while BOLD.DE is actively managed. Over the past 3 years, UBUD.DE returned 42.38%/yr vs 23.40%/yr for BOLD.DE. At a 0.39 correlation, their price movements are largely independent. UBUD.DE charges 0.43%/yr vs 0.65%/yr for BOLD.DE.

Performance

UBUD.DE vs. BOLD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) and 21Shares Bitcoin Gold ETP (BOLD.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UBUD.DE is traded in EUR, while BOLD.DE is traded in USD. To make them comparable, the BOLD.DE values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, UBUD.DE achieves a -14.85% return, which is significantly lower than BOLD.DE's -9.59% return.

UBUD.DE

• 1D: 0.73%
• 1M: -12.25%
• YTD: -14.85%
• 6M: -16.76%
• 1Y: 46.38%
• 3Y*: 42.38%
• 5Y*: 24.27%
• 10Y*: 12.56%

BOLD.DE

• 1D: 0.00%
• 1M: -11.34%
• YTD: -9.59%
• 6M: -9.83%
• 1Y: 0.76%
• 3Y*: 23.40%
• 5Y*: —
• 10Y*: —

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

UBUD.DE vs. BOLD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	-14.85%	144.78%	34.71%	5.73%	-0.48%
BOLD.DE 21Shares Bitcoin Gold ETP	-9.59%	11.16%	67.20%	29.02%	-10.27%

Correlation

The correlation between UBUD.DE and BOLD.DE is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since May 24, 2022	0.39

The correlation between UBUD.DE and BOLD.DE shifts across timeframes, from 0.39 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

UBUD.DE vs. BOLD.DE — Risk / Return Rank

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

UBUD.DE

UBUD.DE Risk / Return Rank: 28
UBUD.DE Sharpe Ratio Rank: 29
UBUD.DE Sortino Ratio Rank: 29
UBUD.DE Omega Ratio Rank: 29
UBUD.DE Calmar Ratio Rank: 28
UBUD.DE Martin Ratio Rank: 27

BOLD.DE

BOLD.DE Risk / Return Rank: 8
BOLD.DE Sharpe Ratio Rank: 8
BOLD.DE Sortino Ratio Rank: 8
BOLD.DE Omega Ratio Rank: 8
BOLD.DE Calmar Ratio Rank: 8
BOLD.DE Martin Ratio Rank: 8

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.

UBUD.DE vs. BOLD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) and 21Shares Bitcoin Gold ETP (BOLD.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.

	UBUD.DE	BOLD.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.98	0.03	+0.94
Sortino ratio: Return per unit of downside risk	1.47	0.22	+1.25
Omega ratio: Gain probability vs. loss probability	1.19	1.03	+0.16
Calmar ratio: Return relative to maximum drawdown	1.26	0.04	+1.22
Martin ratio: Return relative to average drawdown	3.39	0.11	+3.28

UBUD.DE vs. BOLD.DE - Sharpe Ratio Comparison

The current UBUD.DE Sharpe Ratio is 0.98, which is higher than the BOLD.DE Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of UBUD.DE and BOLD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UBUD.DE vs. BOLD.DE - Drawdown Comparison

The maximum UBUD.DE drawdown since its inception was -71.17%, which is greater than BOLD.DE's maximum drawdown of -18.44%. Use the drawdown chart below to compare losses from any high point for UBUD.DE and BOLD.DE.

Drawdown Indicators

	UBUD.DE	BOLD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-71.17%	-18.44%	-52.73%
Max Drawdown (1Y) Largest decline over 1 year	-36.54%	-18.44%	-18.10%
Max Drawdown (3Y) Largest decline over 3 years	-36.54%	-18.44%	-18.10%
Max Drawdown (5Y) Largest decline over 5 years	-38.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.30%	—	—
Current Drawdown Current decline from peak	-33.77%	-17.87%	-15.90%
Average Drawdown Average peak-to-trough decline	-37.26%	-5.24%	-32.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.66%	7.13%	+6.53%

Volatility

UBUD.DE vs. BOLD.DE - Volatility Comparison

UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) has a higher volatility of 17.53% compared to 21Shares Bitcoin Gold ETP (BOLD.DE) at 8.32%. This indicates that UBUD.DE's price experiences larger fluctuations and is considered to be riskier than BOLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBUD.DE	BOLD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.53%	8.32%	+9.21%
Volatility (6M) Calculated over the trailing 6-month period	38.27%	19.98%	+18.29%
Volatility (1Y) Calculated over the trailing 1-year period	47.35%	24.16%	+23.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	20.08%	+16.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.05%	20.08%	+16.97%

UBUD.DE vs. BOLD.DE - Expense Ratio Comparison

UBUD.DE has a 0.43% expense ratio, which is lower than BOLD.DE's 0.65% expense ratio.

Dividends

UBUD.DE vs. BOLD.DE - Dividend Comparison

UBUD.DE's dividend yield for the trailing twelve months is around 0.76%, while BOLD.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOLD.DE 21Shares Bitcoin Gold ETP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	0.76%	0.44%	0.61%	1.13%	1.20%	1.38%	0.50%	0.47%	0.56%	0.54%	0.47%	1.53%

Frequently Asked Questions

Can I hold both UBUD.DE and BOLD.DE in my portfolio?

UBUD.DE and BOLD.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBUD.DE or BOLD.DE?

On fees, UBUD.DE is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UBUD.DE or BOLD.DE?

UBUD.DE is cheaper with a 0.43% expense ratio, compared with 0.65% for BOLD.DE.

What is the main difference between UBUD.DE and BOLD.DE?

UBUD.DE is categorized as Gold, while BOLD.DE is Cryptocurrency. They also come from different issuers: UBS and 21Shares. Their fees differ too: 0.43% for UBUD.DE and 0.65% for BOLD.DE.