USSC.L vs. BCHS.L

Last updated Jun 14, 2026

USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and BCHS.L (Invesco CoinShares Global Blockchain UCITS ETF Acc) are both exchange-traded funds - USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index, while BCHS.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, USSC.L returned 10.07%/yr vs 11.31%/yr for BCHS.L. A 0.56 correlation means they provide meaningful diversification when combined. USSC.L charges 0.30%/yr vs 0.65%/yr for BCHS.L.

Performance

USSC.L vs. BCHS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) and Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USSC.L is traded in USD, while BCHS.L is traded in GBp. To make them comparable, the BCHS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USSC.L achieves a 16.70% return, which is significantly lower than BCHS.L's 24.78% return.

USSC.L

• 1D: 2.35%
• 1M: 6.69%
• YTD: 16.70%
• 6M: 14.69%
• 1Y: 38.20%
• 3Y*: 18.74%
• 5Y*: 10.07%
• 10Y*: 12.58%

BCHS.L

• 1D: 5.33%
• 1M: 5.35%
• YTD: 24.78%
• 6M: 18.66%
• 1Y: 54.88%
• 3Y*: 44.79%
• 5Y*: 11.31%
• 10Y*: —

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

USSC.L vs. BCHS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	16.70%	14.72%	8.33%	23.18%	-10.14%	35.22%	8.76%	8.06%
BCHS.L Invesco CoinShares Global Blockchain UCITS ETF Acc	24.78%	45.45%	16.53%	66.63%	-52.00%	24.86%	94.85%	-10.46%

Correlation

The correlation between USSC.L and BCHS.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.56

The correlation between USSC.L and BCHS.L shifts across timeframes, from 0.40 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.

USSC.L vs. BCHS.L - Sectors Allocation Comparison

Sectors	USSC.L	BCHS.L
Financial Services	19.8%	57.6%
Industrials	14.7%	0.5%
Consumer Cyclical	14.0%	6.0%
Energy	11.2%	0.0%
Technology	9.4%	30.8%
Healthcare	7.5%	0.0%
Real Estate	6.2%	0.0%
Basic Materials	6.1%	0.0%
Consumer Defensive	6.0%	0.0%
Communication Services	2.7%	3.8%
Utilities	2.5%	1.3%

Return for Risk

USSC.L vs. BCHS.L — Risk / Return Rank

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

USSC.L

USSC.L Risk / Return Rank: 84
USSC.L Sharpe Ratio Rank: 84
USSC.L Sortino Ratio Rank: 87
USSC.L Omega Ratio Rank: 79
USSC.L Calmar Ratio Rank: 89
USSC.L Martin Ratio Rank: 84

BCHS.L

BCHS.L Risk / Return Rank: 39
BCHS.L Sharpe Ratio Rank: 44
BCHS.L Sortino Ratio Rank: 43
BCHS.L Omega Ratio Rank: 38
BCHS.L Calmar Ratio Rank: 41
BCHS.L Martin Ratio Rank: 29

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.

USSC.L vs. BCHS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) and Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L). 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.

	USSC.L	BCHS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.28	+1.08
Sortino ratio: Return per unit of downside risk	3.44	1.85	+1.59
Omega ratio: Gain probability vs. loss probability	1.40	1.22	+0.19
Calmar ratio: Return relative to maximum drawdown	4.63	1.66	+2.97
Martin ratio: Return relative to average drawdown	14.95	3.47	+11.49

USSC.L vs. BCHS.L - Sharpe Ratio Comparison

The current USSC.L Sharpe Ratio is 2.35, which is higher than the BCHS.L Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of USSC.L and BCHS.L, 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

USSC.L vs. BCHS.L - Drawdown Comparison

The maximum USSC.L drawdown since its inception was -48.99%, smaller than the maximum BCHS.L drawdown of -61.43%. Use the drawdown chart below to compare losses from any high point for USSC.L and BCHS.L.

Drawdown Indicators

	USSC.L	BCHS.L	Difference
Max Drawdown Largest peak-to-trough decline	-48.99%	-61.43%	+12.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-30.45%	+22.33%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-35.24%	+7.77%
Max Drawdown (5Y) Largest decline over 5 years	-27.47%	-60.92%	+33.45%
Max Drawdown (10Y) Largest decline over 10 years	-48.99%	—	—
Current Drawdown Current decline from peak	0.00%	-5.37%	+5.37%
Average Drawdown Average peak-to-trough decline	-7.67%	-26.08%	+18.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	14.62%	-12.10%

Volatility

USSC.L vs. BCHS.L - Volatility Comparison

The current volatility for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) is 4.22%, while Invesco CoinShares Global Blockchain UCITS ETF Acc (BCHS.L) has a volatility of 13.19%. This indicates that USSC.L experiences smaller price fluctuations and is considered to be less risky than BCHS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSC.L	BCHS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	13.19%	-8.97%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	27.66%	-17.31%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	39.64%	-23.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.63%	39.88%	-18.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.79%	38.15%	-15.36%

USSC.L vs. BCHS.L - Expense Ratio Comparison

USSC.L has a 0.30% expense ratio, which is lower than BCHS.L's 0.65% expense ratio.

Dividends

USSC.L vs. BCHS.L - Dividend Comparison

Neither USSC.L nor BCHS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USSC.L and BCHS.L in my portfolio?

USSC.L and BCHS.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USSC.L or BCHS.L?

On fees, USSC.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USSC.L or BCHS.L?

USSC.L is cheaper with a 0.30% expense ratio, compared with 0.65% for BCHS.L.

What is the main difference between USSC.L and BCHS.L?

USSC.L is categorized as Small Cap Value Equities, while BCHS.L is Technology Equities. USSC.L tracks MSCI USA Small Cap Value Weighted Index, while BCHS.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for USSC.L and 0.65% for BCHS.L.