USRD vs. BTC-USD
USRD (Themes US R&D Champions ETF) is Large Cap Blend Equities fund tracking the Solactive US R&D Champions Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past year, USRD returned 21.33% vs -41.49% for BTC-USD. At a 0.30 correlation, their price movements are largely independent.
Performance
USRD vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, USRD achieves a 12.31% return, which is significantly higher than BTC-USD's -27.34% return.
USRD
- 1D
- 1.76%
- 1M
- 4.18%
- YTD
- 12.31%
- 6M
- 9.99%
- 1Y
- 21.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 3.47%
- 1M
- -21.00%
- YTD
- -27.34%
- 6M
- -31.30%
- 1Y
- -41.49%
- 3Y*
- 34.89%
- 5Y*
- 12.33%
- 10Y*
- 56.84%
USRD vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USRD Themes US R&D Champions ETF | 12.31% | 12.44% | 15.53% | 5.32% |
BTC-USD Bitcoin | -27.34% | -6.27% | 120.76% | 1.95% |
Correlation
The correlation between USRD and BTC-USD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023 | 0.30 |
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Return for Risk
USRD vs. BTC-USD — Risk / Return Rank
USRD
BTC-USD
USRD vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes US R&D Champions ETF (USRD) and Bitcoin (BTC-USD). 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.
| USRD | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.18 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.86 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | -0.81 | +2.40 |
| Martin ratioReturn relative to average drawdown | 4.81 | -1.42 | +6.23 |
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Drawdowns
USRD vs. BTC-USD - Drawdown Comparison
The maximum USRD drawdown since its inception was -23.79%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for USRD and BTC-USD.
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Drawdown Indicators
| USRD | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.79% | -85.30% | +61.51% |
Max Drawdown (1Y)Largest decline over 1 year | -13.49% | -51.21% | +37.72% |
Max Drawdown (3Y)Largest decline over 3 years | — | -51.21% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -7.42% | -49.02% | +41.60% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -42.34% | +38.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 34.89% | -30.44% |
Volatility
USRD vs. BTC-USD - Volatility Comparison
The current volatility for Themes US R&D Champions ETF (USRD) is 8.08%, while Bitcoin (BTC-USD) has a volatility of 12.11%. This indicates that USRD experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USRD | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.08% | 12.11% | -4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 14.50% | 34.67% | -20.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.70% | 35.64% | -17.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.49% | 44.75% | -25.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.49% | 56.63% | -37.14% |
Frequently Asked Questions
USRD and BTC-USD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (12.11%) compared to USRD (8.08%). In terms of maximum drawdown, USRD dropped -23.79% vs BTC-USD's -85.30%.
USRD currently has the higher Sharpe Ratio (1.21 vs -0.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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