VBTC.PA vs. BTCE.DE
Compare and contrast key facts about VanEck Bitcoin ETN A (VBTC.PA) and ETC Group Physical Bitcoin (BTCE.DE).
VBTC.PA and BTCE.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VBTC.PA is a passively managed fund by VanEck that tracks the performance of the MVIS Cryptocompare Bitcoin VWAP Close Index. It was launched on Nov 19, 2020. BTCE.DE is an actively managed fund by ETC Issuance. It was launched on Jun 8, 2020.
Performance
VBTC.PA vs. BTCE.DE - Performance Comparison
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VBTC.PA vs. BTCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VBTC.PA VanEck Bitcoin ETN A | -21.68% | -17.91% | 135.65% | 144.60% | -63.85% | 42.43% |
BTCE.DE ETC Group Physical Bitcoin | -21.07% | -18.20% | 125.79% | 146.52% | -63.89% | 40.37% |
Returns By Period
The year-to-date returns for both investments are quite close, with VBTC.PA having a -21.68% return and BTCE.DE slightly higher at -21.07%.
VBTC.PA
- 1D
- 2.00%
- 1M
- -0.41%
- YTD
- -21.68%
- 6M
- -41.21%
- 1Y
- -25.22%
- 3Y*
- 30.14%
- 5Y*
- —
- 10Y*
- —
BTCE.DE
- 1D
- 1.90%
- 1M
- -0.28%
- YTD
- -21.07%
- 6M
- -41.47%
- 1Y
- -26.25%
- 3Y*
- 28.44%
- 5Y*
- 1.29%
- 10Y*
- —
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VBTC.PA vs. BTCE.DE - Expense Ratio Comparison
VBTC.PA has a 1.00% expense ratio, which is lower than BTCE.DE's 2.00% expense ratio.
Return for Risk
VBTC.PA vs. BTCE.DE — Risk / Return Rank
VBTC.PA
BTCE.DE
VBTC.PA vs. BTCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin ETN A (VBTC.PA) 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.
| VBTC.PA | BTCE.DE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.63 | -0.65 | +0.02 |
Sortino ratioReturn per unit of downside risk | -0.72 | -0.76 | +0.04 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.91 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | -0.46 | -0.55 | +0.10 |
Martin ratioReturn relative to average drawdown | -0.97 | -1.19 | +0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VBTC.PA | BTCE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.63 | -0.65 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.63 | -0.37 |
Correlation
The correlation between VBTC.PA and BTCE.DE is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VBTC.PA vs. BTCE.DE - Dividend Comparison
Neither VBTC.PA nor BTCE.DE has paid dividends to shareholders.
Drawdowns
VBTC.PA vs. BTCE.DE - Drawdown Comparison
The maximum VBTC.PA drawdown since its inception was -74.29%, roughly equal to the maximum BTCE.DE drawdown of -74.62%. Use the drawdown chart below to compare losses from any high point for VBTC.PA and BTCE.DE.
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Drawdown Indicators
| VBTC.PA | BTCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.29% | -74.62% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -49.44% | -49.76% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | — | -74.62% | — |
Current DrawdownCurrent decline from peak | -44.88% | -45.14% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -31.85% | -29.99% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.21% | 23.23% | -0.02% |
Volatility
VBTC.PA vs. BTCE.DE - Volatility Comparison
VanEck Bitcoin ETN A (VBTC.PA) and ETC Group Physical Bitcoin (BTCE.DE) have volatilities of 12.51% and 13.04%, 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.
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Volatility by Period
| VBTC.PA | BTCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.51% | 13.04% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 31.69% | 32.77% | -1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.87% | 40.38% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.28% | 54.56% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.28% | 58.34% | -5.06% |