V21A.DE vs. BOLD.DE

Last updated Apr 2, 2026

Compare and contrast key facts about 21Shares Avalanche Staking ETP (V21A.DE) and 21Shares Bitcoin Gold ETP (BOLD.DE).

V21A.DE and BOLD.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. V21A.DE is an actively managed fund by 21Shares. It was launched on Nov 18, 2021. BOLD.DE is an actively managed fund by 21Shares. It was launched on Apr 26, 2022.

Performance

V21A.DE vs. BOLD.DE - Performance Comparison

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

V21A.DE vs. BOLD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
V21A.DE 21Shares Avalanche Staking ETP	-25.64%	-70.28%	-9.12%	264.15%	-62.06%
BOLD.DE 21Shares Bitcoin Gold ETP	1.25%	11.16%	67.20%	29.02%	-10.58%

Different Trading Currencies

V21A.DE is traded in EUR, while BOLD.DE is traded in USD. To make them comparable, the BOLD.DE 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 BOLD.DE's 1.25% return.

V21A.DE

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

BOLD.DE

• 1D: 2.29%
• 1M: -4.25%
• YTD: 1.25%
• 6M: 0.15%
• 1Y: 8.19%
• 3Y*: 27.40%
• 5Y*: —
• 10Y*: —

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

V21A.DE vs. BOLD.DE - Expense Ratio Comparison

V21A.DE has a 0.00% expense ratio, which is lower than BOLD.DE's 0.65% expense ratio.

BOLD.DE

21Shares Bitcoin Gold ETP

V21A.DE

21Shares Avalanche Staking ETP

Return for Risk

V21A.DE vs. BOLD.DE — 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

BOLD.DE

BOLD.DE Risk / Return Rank: 35
BOLD.DE Sharpe Ratio Rank: 36
BOLD.DE Sortino Ratio Rank: 37
BOLD.DE Omega Ratio Rank: 34
BOLD.DE Calmar Ratio Rank: 37
BOLD.DE Martin Ratio Rank: 30

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. BOLD.DE - Risk-Adjusted Trends Comparison

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

	V21A.DE	BOLD.DE	Difference
Sharpe ratio Return per unit of total volatility	-0.73	0.35	-1.09
Sortino ratio Return per unit of downside risk	-0.98	0.66	-1.64
Omega ratio Gain probability vs. loss probability	0.89	1.08	-0.19
Calmar ratio Return relative to maximum drawdown	-0.74	0.66	-1.40
Martin ratio Return relative to average drawdown	-1.26	1.52	-2.78
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. BOLD.DE - Sharpe Ratio Comparison

The current V21A.DE Sharpe Ratio is -0.73, which is lower than the BOLD.DE Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of V21A.DE and BOLD.DE, 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	BOLD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.73	0.35	-1.09
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	1.11	-1.59

Correlation

The correlation between V21A.DE and BOLD.DE is 0.42, 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.

Dividends

V21A.DE vs. BOLD.DE - Dividend Comparison

Neither V21A.DE nor BOLD.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

V21A.DE vs. BOLD.DE - Drawdown Comparison

The maximum V21A.DE drawdown since its inception was -92.19%, which is greater than BOLD.DE's maximum drawdown of -15.60%. Use the drawdown chart below to compare losses from any high point for V21A.DE and BOLD.DE.

Drawdown Indicators

	V21A.DE	BOLD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-92.19%	-14.69%	-77.50%
Max Drawdown (1Y) Largest decline over 1 year	-76.75%	-14.69%	-62.06%
Current Drawdown Current decline from peak	-91.24%	-10.99%	-80.25%
Average Drawdown Average peak-to-trough decline	-74.89%	-4.02%	-70.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.39%	5.66%	+39.73%

Volatility

V21A.DE vs. BOLD.DE - Volatility Comparison

21Shares Avalanche Staking ETP (V21A.DE) has a higher volatility of 16.64% compared to 21Shares Bitcoin Gold ETP (BOLD.DE) at 10.34%. This indicates that V21A.DE's price experiences larger fluctuations and is considered to be riskier than BOLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V21A.DE	BOLD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	10.34%	+6.30%
Volatility (6M) Calculated over the trailing 6-month period	53.22%	19.86%	+33.36%
Volatility (1Y) Calculated over the trailing 1-year period	78.45%	23.05%	+55.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.22%	19.82%	+72.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.22%	19.82%	+72.40%