V21A.DE vs. AVAX-USD

Last updated Apr 2, 2026

Compare and contrast key facts about 21Shares Avalanche Staking ETP (V21A.DE) and Avalanche (AVAX-USD).

V21A.DE is an actively managed fund by 21Shares. It was launched on Nov 18, 2021.

Performance

V21A.DE vs. AVAX-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in 21Shares Avalanche Staking ETP (V21A.DE) and Avalanche (AVAX-USD). The values are adjusted to include any dividend payments, if applicable.

V21A.DE vs. AVAX-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
V21A.DE 21Shares Avalanche Staking ETP	-25.64%	-70.28%	-9.12%	264.15%	-87.29%
AVAX-USD Avalanche	-24.22%	-69.58%	-5.47%	258.56%	-86.67%

Different Trading Currencies

V21A.DE is traded in EUR, while AVAX-USD is traded in USD. To make them comparable, the AVAX-USD values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, V21A.DE achieves a -25.64% return, which is significantly lower than AVAX-USD's -24.22% return.

V21A.DE

• 1D: 4.02%
• 1M: -1.17%
• YTD: -25.64%
• 6M: -69.79%
• 1Y: -57.52%
• 3Y*: -22.93%
• 5Y*: —
• 10Y*: —

AVAX-USD

• 1D: 2.92%
• 1M: 1.16%
• YTD: -24.22%
• 6M: -69.72%
• 1Y: -56.81%
• 3Y*: -21.40%
• 5Y*: -20.35%
• 10Y*: —

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

Return for Risk

V21A.DE vs. AVAX-USD — Risk / Return Rank

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

V21A.DE

V21A.DE Risk / Return Rank: 2
V21A.DE Sharpe Ratio Rank: 2
V21A.DE Sortino Ratio Rank: 2
V21A.DE Omega Ratio Rank: 2
V21A.DE Calmar Ratio Rank: 1
V21A.DE Martin Ratio Rank: 2

AVAX-USD

AVAX-USD Risk / Return Rank: 52
AVAX-USD Sharpe Ratio Rank: 39
AVAX-USD Sortino Ratio Rank: 42
AVAX-USD Omega Ratio Rank: 42
AVAX-USD Calmar Ratio Rank: 66
AVAX-USD Martin Ratio Rank: 70

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.

V21A.DE vs. AVAX-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Avalanche Staking ETP (V21A.DE) and Avalanche (AVAX-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.

	V21A.DE	AVAX-USD	Difference
Sharpe ratio Return per unit of total volatility	-0.73	-0.67	-0.07
Sortino ratio Return per unit of downside risk	-0.98	-0.76	-0.22
Omega ratio Gain probability vs. loss probability	0.89	0.92	-0.03
Calmar ratio Return relative to maximum drawdown	-0.74	-0.97	+0.23
Martin ratio Return relative to average drawdown	-1.26	-1.41	+0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V21A.DE vs. AVAX-USD - Sharpe Ratio Comparison

The current V21A.DE Sharpe Ratio is -0.73, which is comparable to the AVAX-USD Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of V21A.DE and AVAX-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	V21A.DE	AVAX-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.73	-0.67	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.10	-0.58

Correlation

The correlation between V21A.DE and AVAX-USD is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Drawdowns

V21A.DE vs. AVAX-USD - Drawdown Comparison

The maximum V21A.DE drawdown since its inception was -92.19%, roughly equal to the maximum AVAX-USD drawdown of -94.16%. Use the drawdown chart below to compare losses from any high point for V21A.DE and AVAX-USD.

Drawdown Indicators

	V21A.DE	AVAX-USD	Difference
Max Drawdown Largest peak-to-trough decline	-92.19%	-93.88%	+1.69%
Max Drawdown (1Y) Largest decline over 1 year	-76.75%	-76.48%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	—	-93.88%	—
Current Drawdown Current decline from peak	-91.24%	-93.21%	+1.97%
Average Drawdown Average peak-to-trough decline	-74.89%	-69.38%	-5.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.39%	53.30%	-7.91%

Volatility

V21A.DE vs. AVAX-USD - Volatility Comparison

21Shares Avalanche Staking ETP (V21A.DE) and Avalanche (AVAX-USD) have volatilities of 16.64% and 16.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V21A.DE	AVAX-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	16.25%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	53.22%	62.70%	-9.48%
Volatility (1Y) Calculated over the trailing 1-year period	78.45%	71.12%	+7.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.22%	87.46%	+4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.22%	98.07%	-5.85%