AETH vs. BMNR
AETH (Bitwise Ethereum Strategy ETF) is Cryptocurrency fund actively managed by Bitwise, while BMNR (BitMine Immersion Technologies, Inc.) is a stock. Over the past year, AETH returned -34.00% vs -62.54% for BMNR. At a 0.37 correlation, their price movements are largely independent.
Performance
AETH vs. BMNR - Performance Comparison
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Returns By Period
In the year-to-date period, AETH achieves a -16.81% return, which is significantly higher than BMNR's -42.21% return.
AETH
- 1D
- -1.62%
- 1M
- -7.83%
- 6M
- -20.82%
- YTD
- -16.81%
- 1Y
- -34.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNR
- 1D
- 1.62%
- 1M
- -0.06%
- 6M
- -49.65%
- YTD
- -42.21%
- 1Y
- -62.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AETH vs. BMNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AETH Bitwise Ethereum Strategy ETF | -16.81% | -7.13% |
BMNR BitMine Immersion Technologies, Inc. | -42.21% | 274.59% |
Correlation
The correlation between AETH and BMNR is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.37 |
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Return for Risk
AETH vs. BMNR — Risk / Return Rank
AETH
BMNR
AETH vs. BMNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Strategy ETF (AETH) and BitMine Immersion Technologies, Inc. (BMNR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AETH | BMNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.92 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | -0.79 | +0.13 |
| Martin ratioReturn relative to average drawdown | -0.98 | -1.16 | +0.18 |
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Drawdowns
AETH vs. BMNR - Drawdown Comparison
The maximum AETH drawdown since its inception was -51.08%, smaller than the maximum BMNR drawdown of -90.14%. Use the drawdown chart below to compare losses from any high point for AETH and BMNR.
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Drawdown Indicators
| AETH | BMNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.08% | -90.14% | +39.06% |
Max Drawdown (1Y)Largest decline over 1 year | -51.08% | -78.94% | +27.86% |
Current DrawdownCurrent decline from peak | -48.22% | -88.37% | +40.15% |
Average DrawdownAverage peak-to-trough decline | -25.64% | -72.32% | +46.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.76% | 53.86% | -19.10% |
Volatility
AETH vs. BMNR - Volatility Comparison
The current volatility for Bitwise Ethereum Strategy ETF (AETH) is 10.62%, while BitMine Immersion Technologies, Inc. (BMNR) has a volatility of 21.03%. This indicates that AETH experiences smaller price fluctuations and is considered to be less risky than BMNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AETH | BMNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.62% | 21.03% | -10.41% |
Volatility (6M)Calculated over the trailing 6-month period | 25.47% | 58.50% | -33.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.00% | 99.15% | -57.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.87% | 681.24% | -627.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.87% | 681.24% | -627.37% |
Dividends
AETH vs. BMNR - Dividend Comparison
AETH's dividend yield for the trailing twelve months is around 2.89%, more than BMNR's 0.06% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AETH Bitwise Ethereum Strategy ETF | 2.89% | 2.41% | 14.73% | 6.64% |
BMNR BitMine Immersion Technologies, Inc. | 0.06% | 0.04% | 0.00% | 0.00% |
Frequently Asked Questions
AETH and BMNR have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMNR has higher volatility (21.03%) compared to AETH (10.62%). In terms of maximum drawdown, AETH dropped -51.08% vs BMNR's -90.14%.
BMNR currently has the higher Sharpe Ratio (-0.63 vs -0.81), 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.
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