UCLU.DE vs. BNXG.DE
UCLU.DE (Invesco USD AAA CLO UCITS ETF Dist) and BNXG.DE (Invesco CoinShares Global Blockchain UCITS ETF Acc) are both exchange-traded funds - UCLU.DE is a CLO fund actively managed by Invesco, while BNXG.DE is a Technology Equities fund tracking the CoinShares Blockchain Global Equity. UCLU.DE is actively managed, while BNXG.DE is passively managed. Over the past year, UCLU.DE returned 2.66% vs 57.31% for BNXG.DE. At a correlation of -0.04, they often move in opposite directions. UCLU.DE charges 0.25%/yr vs 0.65%/yr for BNXG.DE.
Performance
UCLU.DE vs. BNXG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UCLU.DE achieves a 3.20% return, which is significantly lower than BNXG.DE's 25.60% return.
UCLU.DE
- 1D
- -0.12%
- 1M
- 1.12%
- YTD
- 3.20%
- 6M
- 2.44%
- 1Y
- 2.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNXG.DE
- 1D
- -2.38%
- 1M
- 9.75%
- YTD
- 25.60%
- 6M
- 16.57%
- 1Y
- 57.31%
- 3Y*
- 42.07%
- 5Y*
- 12.34%
- 10Y*
- —
UCLU.DE vs. BNXG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UCLU.DE Invesco USD AAA CLO UCITS ETF Dist | 3.20% | -8.06% |
BNXG.DE Invesco CoinShares Global Blockchain UCITS ETF Acc | 25.60% | 19.90% |
Correlation
The correlation between UCLU.DE and BNXG.DE is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | -0.04 |
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Return for Risk
UCLU.DE vs. BNXG.DE — Risk / Return Rank
UCLU.DE
BNXG.DE
UCLU.DE vs. BNXG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco USD AAA CLO UCITS ETF Dist (UCLU.DE) and Invesco CoinShares Global Blockchain UCITS ETF Acc (BNXG.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.
| UCLU.DE | BNXG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.24 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 1.92 | -1.10 |
| Martin ratioReturn relative to average drawdown | 1.69 | 3.89 | -2.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UCLU.DE | BNXG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 1.43 | -0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.56 | 0.66 | -1.22 |
Drawdowns
UCLU.DE vs. BNXG.DE - Drawdown Comparison
The maximum UCLU.DE drawdown since its inception was -10.54%, smaller than the maximum BNXG.DE drawdown of -57.23%. Use the drawdown chart below to compare losses from any high point for UCLU.DE and BNXG.DE.
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Drawdown Indicators
| UCLU.DE | BNXG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.54% | -57.23% | +46.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -29.72% | +26.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -38.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.23% | — |
Current DrawdownCurrent decline from peak | -5.54% | -4.77% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -7.33% | -21.04% | +13.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 14.69% | -13.12% |
Volatility
UCLU.DE vs. BNXG.DE - Volatility Comparison
The current volatility for Invesco USD AAA CLO UCITS ETF Dist (UCLU.DE) is 1.47%, while Invesco CoinShares Global Blockchain UCITS ETF Acc (BNXG.DE) has a volatility of 9.95%. This indicates that UCLU.DE experiences smaller price fluctuations and is considered to be less risky than BNXG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCLU.DE | BNXG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 9.95% | -8.48% |
Volatility (6M)Calculated over the trailing 6-month period | 4.26% | 25.00% | -20.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.06% | 39.88% | -33.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.10% | 36.22% | -29.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 35.37% | -28.27% |
UCLU.DE vs. BNXG.DE - Expense Ratio Comparison
UCLU.DE has a 0.25% expense ratio, which is lower than BNXG.DE's 0.65% expense ratio.
Dividends
UCLU.DE vs. BNXG.DE - Dividend Comparison
UCLU.DE's dividend yield for the trailing twelve months is around 4.50%, while BNXG.DE has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BNXG.DE Invesco CoinShares Global Blockchain UCITS ETF Acc | 0.00% | 0.00% |
UCLU.DE Invesco USD AAA CLO UCITS ETF Dist | 4.50% | 3.52% |
Frequently Asked Questions
UCLU.DE and BNXG.DE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UCLU.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UCLU.DE is cheaper with a 0.25% expense ratio, compared with 0.65% for BNXG.DE.
UCLU.DE is categorized as CLO, while BNXG.DE is Technology Equities. Their fees differ too: 0.25% for UCLU.DE and 0.65% for BNXG.DE.
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