VBTC.PA vs. SEGA.L
VBTC.PA (VanEck Bitcoin ETN A) and SEGA.L (iShares Core Euro Government Bond UCITS ETF (Dist)) are both exchange-traded funds - VBTC.PA is a Cryptocurrency fund tracking the MVIS Cryptocompare Bitcoin VWAP Close Index, while SEGA.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 5 years, VBTC.PA returned 11.58%/yr vs -2.50%/yr for SEGA.L. At a correlation of -0.01, they often move in opposite directions. VBTC.PA charges 1.00%/yr vs 0.09%/yr for SEGA.L.
Performance
VBTC.PA vs. SEGA.L - Performance Comparison
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Different Trading Currencies
VBTC.PA is traded in EUR, while SEGA.L is traded in GBP. To make them comparable, the SEGA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, VBTC.PA achieves a -27.36% return, which is significantly lower than SEGA.L's -1.27% 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*
- —
SEGA.L
- 1D
- 0.12%
- 1M
- 0.69%
- YTD
- -1.27%
- 6M
- -1.18%
- 1Y
- -1.26%
- 3Y*
- 1.87%
- 5Y*
- -2.50%
- 10Y*
- -0.43%
VBTC.PA vs. SEGA.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% |
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist) | -1.27% | 0.36% | 1.74% | 6.98% | -18.14% | -0.17% |
Correlation
The correlation between VBTC.PA and SEGA.L is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2021 | -0.01 |
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Return for Risk
VBTC.PA vs. SEGA.L — Risk / Return Rank
VBTC.PA
SEGA.L
VBTC.PA vs. SEGA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Bitcoin ETN A (VBTC.PA) and iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.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 | SEGA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.96 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.32 | -0.50 |
| Martin ratioReturn relative to average drawdown | -1.44 | -0.78 | -0.66 |
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 | SEGA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | -0.27 | -0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | -0.36 | +0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.23 | -0.01 |
Drawdowns
VBTC.PA vs. SEGA.L - Drawdown Comparison
The maximum VBTC.PA drawdown since its inception was -74.29%, which is greater than SEGA.L's maximum drawdown of -23.00%. Use the drawdown chart below to compare losses from any high point for VBTC.PA and SEGA.L.
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Drawdown Indicators
| VBTC.PA | SEGA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.29% | -23.00% | -51.29% |
Max Drawdown (1Y)Largest decline over 1 year | -49.44% | -3.90% | -45.54% |
Max Drawdown (3Y)Largest decline over 3 years | -49.44% | -4.32% | -45.12% |
Max Drawdown (5Y)Largest decline over 5 years | -74.29% | -21.84% | -52.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.00% | — |
Current DrawdownCurrent decline from peak | -48.88% | -15.48% | -33.40% |
Average DrawdownAverage peak-to-trough decline | -32.12% | -6.91% | -25.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.43% | 1.61% | +26.82% |
Volatility
VBTC.PA vs. SEGA.L - Volatility Comparison
VanEck Bitcoin ETN A (VBTC.PA) has a higher volatility of 9.68% compared to iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L) at 1.62%. This indicates that VBTC.PA's price experiences larger fluctuations and is considered to be riskier than SEGA.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 | SEGA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.68% | 1.62% | +8.06% |
Volatility (6M)Calculated over the trailing 6-month period | 28.59% | 3.88% | +24.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.90% | 4.70% | +34.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.76% | 7.01% | +45.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.80% | 6.57% | +46.23% |
VBTC.PA vs. SEGA.L - Expense Ratio Comparison
VBTC.PA has a 1.00% expense ratio, which is higher than SEGA.L's 0.09% expense ratio.
Dividends
VBTC.PA vs. SEGA.L - Dividend Comparison
VBTC.PA has not paid dividends to shareholders, while SEGA.L's dividend yield for the trailing twelve months is around 1.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist) | 1.19% | 2.25% | 1.82% | 0.97% | 0.26% | 0.25% | 0.45% | 0.68% | 0.65% | 0.69% | 0.86% | 0.60% |
VBTC.PA VanEck Bitcoin ETN A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VBTC.PA and SEGA.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEGA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEGA.L is cheaper with a 0.09% expense ratio, compared with 1.00% for VBTC.PA.
VBTC.PA is categorized as Cryptocurrency, while SEGA.L is European Government Bonds. VBTC.PA tracks MVIS Cryptocompare Bitcoin VWAP Close Index, while SEGA.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: VanEck and iShares. Their fees differ too: 1.00% for VBTC.PA and 0.09% for SEGA.L.
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