USPY.DE vs. BTCE.DE
USPY.DE (L&G Cyber Security UCITS ETF) and BTCE.DE (ETC Group Physical Bitcoin) are both exchange-traded funds - USPY.DE is a Technology Equities fund tracking the ISE Cyber Security UCITS, while BTCE.DE is a Cryptocurrency fund actively managed by ETC Issuance. USPY.DE is passively managed, while BTCE.DE is actively managed. Over the past 5 years, USPY.DE returned 10.64%/yr vs 10.38%/yr for BTCE.DE. At a 0.29 correlation, their price movements are largely independent. USPY.DE charges 0.69%/yr vs 2.00%/yr for BTCE.DE.
Performance
USPY.DE vs. BTCE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, USPY.DE achieves a 31.89% return, which is significantly higher than BTCE.DE's -27.02% return.
USPY.DE
- 1D
- 1.42%
- 1M
- 11.41%
- YTD
- 31.89%
- 6M
- 28.78%
- 1Y
- 28.68%
- 3Y*
- 22.29%
- 5Y*
- 10.64%
- 10Y*
- 16.17%
BTCE.DE
- 1D
- -3.79%
- 1M
- -20.74%
- YTD
- -27.02%
- 6M
- -28.97%
- 1Y
- -41.00%
- 3Y*
- 28.04%
- 5Y*
- 10.38%
- 10Y*
- —
USPY.DE vs. BTCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
USPY.DE L&G Cyber Security UCITS ETF | 31.89% | -3.39% | 24.34% | 37.45% | -28.70% | 17.00% | 16.18% |
BTCE.DE ETC Group Physical Bitcoin | -27.02% | -18.20% | 125.79% | 146.52% | -63.89% | 81.36% | 162.37% |
Correlation
The correlation between USPY.DE and BTCE.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020 | 0.29 |
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Return for Risk
USPY.DE vs. BTCE.DE — Risk / Return Rank
USPY.DE
BTCE.DE
USPY.DE vs. BTCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Cyber Security UCITS ETF (USPY.DE) and ETC Group Physical Bitcoin (BTCE.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.
| USPY.DE | BTCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.06 | ||
| Sortino ratioReturn per unit of downside risk | +3.04 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.83 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | -0.83 | +2.24 |
| Martin ratioReturn relative to average drawdown | 3.76 | -1.46 | +5.22 |
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Drawdowns
USPY.DE vs. BTCE.DE - Drawdown Comparison
The maximum USPY.DE drawdown since its inception was -36.25%, smaller than the maximum BTCE.DE drawdown of -74.62%. Use the drawdown chart below to compare losses from any high point for USPY.DE and BTCE.DE.
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Drawdown Indicators
| USPY.DE | BTCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.25% | -74.62% | +38.37% |
Max Drawdown (1Y)Largest decline over 1 year | -19.61% | -49.76% | +30.15% |
Max Drawdown (3Y)Largest decline over 3 years | -30.52% | -49.76% | +19.24% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | -74.62% | +40.73% |
Max Drawdown (10Y)Largest decline over 10 years | -33.89% | — | — |
Current DrawdownCurrent decline from peak | -7.76% | -49.27% | +41.51% |
Average DrawdownAverage peak-to-trough decline | -10.93% | -30.26% | +19.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.32% | 28.52% | -21.20% |
Volatility
USPY.DE vs. BTCE.DE - Volatility Comparison
L&G Cyber Security UCITS ETF (USPY.DE) has a higher volatility of 11.60% compared to ETC Group Physical Bitcoin (BTCE.DE) at 9.82%. This indicates that USPY.DE's price experiences larger fluctuations and is considered to be riskier than BTCE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USPY.DE | BTCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.60% | 9.82% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 23.85% | 31.25% | -7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.13% | 39.81% | -12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.76% | 52.58% | -27.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.61% | 57.83% | -34.22% |
USPY.DE vs. BTCE.DE - Expense Ratio Comparison
USPY.DE has a 0.69% expense ratio, which is lower than BTCE.DE's 2.00% expense ratio.
Dividends
USPY.DE vs. BTCE.DE - Dividend Comparison
Neither USPY.DE nor BTCE.DE has paid dividends to shareholders.
Frequently Asked Questions
USPY.DE and BTCE.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USPY.DE is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USPY.DE is cheaper with a 0.69% expense ratio, compared with 2.00% for BTCE.DE.
USPY.DE is categorized as Technology Equities, while BTCE.DE is Cryptocurrency. They also come from different issuers: Legal & General and ETC Issuance. Their fees differ too: 0.69% for USPY.DE and 2.00% for BTCE.DE.
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