VBTC.PA vs. EGLN.L
VBTC.PA (VanEck Bitcoin ETN A) and EGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - VBTC.PA is a Cryptocurrency fund tracking the MVIS Cryptocompare Bitcoin VWAP Close Index, while EGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, VBTC.PA returned 11.58%/yr vs 19.69%/yr for EGLN.L. At a 0.02 correlation, their price movements are largely independent. VBTC.PA charges 1.00%/yr vs 0.25%/yr for EGLN.L.
Performance
VBTC.PA vs. EGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, VBTC.PA achieves a -27.36% return, which is significantly lower than EGLN.L's 4.83% return.
VBTC.PA
- 1D
- -3.96%
- 1M
- -21.14%
- YTD
- -27.36%
- 6M
- -31.38%
- 1Y
- -40.99%
- 3Y*
- 29.35%
- 5Y*
- 11.58%
- 10Y*
- —
EGLN.L
- 1D
- 0.55%
- 1M
- -1.62%
- YTD
- 4.83%
- 6M
- 6.32%
- 1Y
- 30.19%
- 3Y*
- 28.02%
- 5Y*
- 19.69%
- 10Y*
- —
VBTC.PA vs. EGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VBTC.PA VanEck Bitcoin ETN A | -27.36% | -17.91% | 135.65% | 144.60% | -63.85% | 42.43% |
EGLN.L iShares Physical Gold ETC | 4.83% | 46.01% | 34.32% | 9.37% | 6.00% | 3.47% |
Correlation
The correlation between VBTC.PA and EGLN.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2021 | 0.02 |
The correlation between VBTC.PA and EGLN.L shifts across timeframes, from 0.02 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VBTC.PA vs. EGLN.L — Risk / Return Rank
VBTC.PA
EGLN.L
VBTC.PA vs. EGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin ETN A (VBTC.PA) and iShares Physical Gold ETC (EGLN.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.
| VBTC.PA | EGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.26 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 1.80 | -2.62 |
| Martin ratioReturn relative to average drawdown | -1.44 | 4.58 | -6.02 |
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 | EGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | 1.30 | -2.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 1.22 | -1.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.95 | -0.72 |
Drawdowns
VBTC.PA vs. EGLN.L - Drawdown Comparison
The maximum VBTC.PA drawdown since its inception was -74.29%, which is greater than EGLN.L's maximum drawdown of -18.35%. Use the drawdown chart below to compare losses from any high point for VBTC.PA and EGLN.L.
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Drawdown Indicators
| VBTC.PA | EGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.29% | -18.35% | -55.94% |
Max Drawdown (1Y)Largest decline over 1 year | -49.44% | -16.70% | -32.74% |
Max Drawdown (3Y)Largest decline over 3 years | -49.44% | -16.70% | -32.74% |
Max Drawdown (5Y)Largest decline over 5 years | -74.29% | -16.70% | -57.59% |
Current DrawdownCurrent decline from peak | -48.88% | -15.21% | -33.67% |
Average DrawdownAverage peak-to-trough decline | -32.12% | -6.34% | -25.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.43% | 6.57% | +21.86% |
Volatility
VBTC.PA vs. EGLN.L - Volatility Comparison
VanEck Bitcoin ETN A (VBTC.PA) has a higher volatility of 9.68% compared to iShares Physical Gold ETC (EGLN.L) at 5.42%. This indicates that VBTC.PA's price experiences larger fluctuations and is considered to be riskier than EGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTC.PA | EGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.68% | 5.42% | +4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 28.59% | 20.15% | +8.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.90% | 23.14% | +15.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.76% | 16.17% | +36.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.80% | 14.38% | +38.42% |
VBTC.PA vs. EGLN.L - Expense Ratio Comparison
VBTC.PA has a 1.00% expense ratio, which is higher than EGLN.L's 0.25% expense ratio.
Dividends
VBTC.PA vs. EGLN.L - Dividend Comparison
Neither VBTC.PA nor EGLN.L has paid dividends to shareholders.
Frequently Asked Questions
VBTC.PA and EGLN.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EGLN.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EGLN.L is cheaper with a 0.25% expense ratio, compared with 1.00% for VBTC.PA.
VBTC.PA is categorized as Cryptocurrency, while EGLN.L is Gold. VBTC.PA tracks MVIS Cryptocompare Bitcoin VWAP Close Index, while EGLN.L tracks LBMA Gold Price. They also come from different issuers: VanEck and iShares. Their fees differ too: 1.00% for VBTC.PA and 0.25% for EGLN.L.
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