AEHR vs. WGMI

Last updated Jun 4, 2026

AEHR (Aehr Test Systems) is a stock, while WGMI (Valkyrie Bitcoin Miners ETF) is Cryptocurrency fund actively managed by Valkyrie. Over the past 3 years, AEHR returned 40.45%/yr vs 86.17%/yr for WGMI. At a 0.47 correlation, their price movements are largely independent.

Performance

AEHR vs. WGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aehr Test Systems (AEHR) and Valkyrie Bitcoin Miners ETF (WGMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEHR achieves a 467.56% return, which is significantly higher than WGMI's 84.78% return.

AEHR

• 1D: 1.41%
• 1M: 33.85%
• YTD: 467.56%
• 6M: 362.80%
• 1Y: 1,019.04%
• 3Y*: 40.45%
• 5Y*: 111.15%
• 10Y*: 60.03%

WGMI

• 1D: -1.11%
• 1M: 40.03%
• YTD: 84.78%
• 6M: 55.52%
• 1Y: 294.61%
• 3Y*: 86.17%
• 5Y*: —
• 10Y*: —

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

AEHR vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AEHR Aehr Test Systems	467.56%	21.41%	-37.32%	31.99%	50.67%
WGMI Valkyrie Bitcoin Miners ETF	84.78%	72.47%	23.54%	304.08%	-83.48%

Correlation

The correlation between AEHR and WGMI is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.47

The correlation between AEHR and WGMI has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

Return for Risk

AEHR vs. WGMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AEHR

AEHR Risk / Return Rank: 98
AEHR Sharpe Ratio Rank: 100
AEHR Sortino Ratio Rank: 97
AEHR Omega Ratio Rank: 94
AEHR Calmar Ratio Rank: 99
AEHR Martin Ratio Rank: 99

WGMI

WGMI Risk / Return Rank: 79
WGMI Sharpe Ratio Rank: 95
WGMI Sortino Ratio Rank: 76
WGMI Omega Ratio Rank: 69
WGMI Calmar Ratio Rank: 91
WGMI Martin Ratio Rank: 64

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.

AEHR vs. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aehr Test Systems (AEHR) and Valkyrie Bitcoin Miners ETF (WGMI). 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.

	AEHR	WGMI	Difference
Sharpe ratio: Return per unit of total volatility	8.73	3.91	+4.82
Sortino ratio: Return per unit of downside risk	4.86	3.49	+1.37
Omega ratio: Gain probability vs. loss probability	1.57	1.42	+0.15
Calmar ratio: Return relative to maximum drawdown	24.34	5.83	+18.51
Martin ratio: Return relative to average drawdown	55.12	11.81	+43.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEHR vs. WGMI - Sharpe Ratio Comparison

The current AEHR Sharpe Ratio is 8.73, which is higher than the WGMI Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of AEHR and WGMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AEHR	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.73	3.91	+4.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.31	-0.23

Drawdowns

AEHR vs. WGMI - Drawdown Comparison

The maximum AEHR drawdown since its inception was -97.98%, which is greater than WGMI's maximum drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for AEHR and WGMI.

Drawdown Indicators

	AEHR	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-97.98%	-85.76%	-12.22%
Max Drawdown (1Y) Largest decline over 1 year	-42.31%	-50.94%	+8.63%
Max Drawdown (3Y) Largest decline over 3 years	-87.37%	-62.79%	-24.58%
Max Drawdown (5Y) Largest decline over 5 years	-87.37%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-87.37%	—	—
Current Drawdown Current decline from peak	0.00%	-1.11%	+1.11%
Average Drawdown Average peak-to-trough decline	-79.66%	-42.90%	-36.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.65%	25.08%	-6.43%

Volatility

AEHR vs. WGMI - Volatility Comparison

Aehr Test Systems (AEHR) has a higher volatility of 38.83% compared to Valkyrie Bitcoin Miners ETF (WGMI) at 20.10%. This indicates that AEHR's price experiences larger fluctuations and is considered to be riskier than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEHR	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.83%	20.10%	+18.73%
Volatility (6M) Calculated over the trailing 6-month period	86.27%	55.64%	+30.63%
Volatility (1Y) Calculated over the trailing 1-year period	118.12%	76.03%	+42.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	109.54%	81.53%	+28.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.96%	81.53%	+13.43%

Dividends

AEHR vs. WGMI - Dividend Comparison

Neither AEHR nor WGMI has paid dividends to shareholders.

Position	TTM	2025	2024	2023
AEHR Aehr Test Systems	0.00%	0.00%	0.00%	0.00%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both AEHR and WGMI in my portfolio?

AEHR and WGMI have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AEHR or WGMI?

AEHR has higher volatility (38.83%) compared to WGMI (20.10%). In terms of maximum drawdown, AEHR dropped -97.98% vs WGMI's -85.76%.

Which has better risk-adjusted returns?

AEHR currently has the higher Sharpe Ratio (8.73 vs 3.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.