XBTI.DE vs. HDXM.DE
Compare and contrast key facts about DDA Physical Bitcoin ETP A EUR (XBTI.DE) and Hashdex Crypto Momentum Factor ETN (HDXM.DE).
XBTI.DE and HDXM.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XBTI.DE is a passively managed fund by DDA that tracks the performance of the Vinter Bitcoin Reference Index. It was launched on Apr 15, 2021. HDXM.DE is a passively managed fund by Hashdex that tracks the performance of the Kaiko Hashdex Risk Parity Momentum Crypto Index. It was launched on Nov 1, 2022. Both XBTI.DE and HDXM.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
XBTI.DE vs. HDXM.DE - Performance Comparison
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XBTI.DE vs. HDXM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XBTI.DE DDA Physical Bitcoin ETP A EUR | -20.90% | -17.25% | 128.20% | 149.29% | -24.24% |
HDXM.DE Hashdex Crypto Momentum Factor ETN | -17.42% | -35.51% | 65.37% | 130.19% | -31.57% |
Returns By Period
In the year-to-date period, XBTI.DE achieves a -20.90% return, which is significantly lower than HDXM.DE's -17.42% return.
XBTI.DE
- 1D
- 2.03%
- 1M
- -0.22%
- YTD
- -20.90%
- 6M
- -41.10%
- 1Y
- -25.34%
- 3Y*
- 30.09%
- 5Y*
- —
- 10Y*
- —
HDXM.DE
- 1D
- 1.40%
- 1M
- 3.07%
- YTD
- -17.42%
- 6M
- -45.85%
- 1Y
- -28.59%
- 3Y*
- 12.95%
- 5Y*
- —
- 10Y*
- —
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XBTI.DE vs. HDXM.DE - Expense Ratio Comparison
XBTI.DE has a 0.95% expense ratio, which is lower than HDXM.DE's 1.49% expense ratio.
Return for Risk
XBTI.DE vs. HDXM.DE — Risk / Return Rank
XBTI.DE
HDXM.DE
XBTI.DE vs. HDXM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DDA Physical Bitcoin ETP A EUR (XBTI.DE) and Hashdex Crypto Momentum Factor ETN (HDXM.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.
| XBTI.DE | HDXM.DE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.63 | -0.62 | -0.01 |
Sortino ratioReturn per unit of downside risk | -0.73 | -0.68 | -0.04 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.92 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.54 | -0.54 | 0.00 |
Martin ratioReturn relative to average drawdown | -1.15 | -1.02 | -0.14 |
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
| XBTI.DE | HDXM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.63 | -0.62 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.19 | -0.12 |
Correlation
The correlation between XBTI.DE and HDXM.DE is 0.78, 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
XBTI.DE vs. HDXM.DE - Dividend Comparison
Neither XBTI.DE nor HDXM.DE has paid dividends to shareholders.
Drawdowns
XBTI.DE vs. HDXM.DE - Drawdown Comparison
The maximum XBTI.DE drawdown since its inception was -74.37%, which is greater than HDXM.DE's maximum drawdown of -62.68%. Use the drawdown chart below to compare losses from any high point for XBTI.DE and HDXM.DE.
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Drawdown Indicators
| XBTI.DE | HDXM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.37% | -62.68% | -11.69% |
Max Drawdown (1Y)Largest decline over 1 year | -49.53% | -53.24% | +3.71% |
Current DrawdownCurrent decline from peak | -44.77% | -59.55% | +14.78% |
Average DrawdownAverage peak-to-trough decline | -33.06% | -23.80% | -9.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.08% | 28.15% | -5.07% |
Volatility
XBTI.DE vs. HDXM.DE - Volatility Comparison
DDA Physical Bitcoin ETP A EUR (XBTI.DE) has a higher volatility of 13.13% compared to Hashdex Crypto Momentum Factor ETN (HDXM.DE) at 9.70%. This indicates that XBTI.DE's price experiences larger fluctuations and is considered to be riskier than HDXM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBTI.DE | HDXM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.13% | 9.70% | +3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 32.58% | 33.52% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.11% | 46.35% | -6.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.45% | 53.59% | +0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.45% | 53.59% | +0.86% |