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 -15.91% vs 206.88% 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 -19.06% return, which is significantly higher than BMNR's -50.06% return.
AETH
- 1D
- -0.06%
- 1M
- -10.23%
- YTD
- -19.06%
- 6M
- -19.14%
- 1Y
- -15.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNR
- 1D
- 1.80%
- 1M
- -27.95%
- YTD
- -50.06%
- 6M
- -52.10%
- 1Y
- 206.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AETH vs. BMNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AETH Bitwise Ethereum Strategy ETF | -19.06% | -7.13% |
BMNR BitMine Immersion Technologies, Inc. | -50.06% | 274.59% |
Correlation
The correlation between AETH and BMNR is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
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 | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -8.60 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.98 | -1.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 2.31 | -2.63 |
| Martin ratioReturn relative to average drawdown | -0.49 | 2.76 | -3.25 |
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Drawdowns
AETH vs. BMNR - Drawdown Comparison
The maximum AETH drawdown since its inception was -49.62%, smaller than the maximum BMNR drawdown of -90.13%. 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 | -49.62% | -90.13% | +40.51% |
Max Drawdown (1Y)Largest decline over 1 year | -49.62% | -90.13% | +40.51% |
Current DrawdownCurrent decline from peak | -49.62% | -89.95% | +40.33% |
Average DrawdownAverage peak-to-trough decline | -25.16% | -71.44% | +46.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.77% | 75.21% | -42.44% |
Volatility
AETH vs. BMNR - Volatility Comparison
The current volatility for Bitwise Ethereum Strategy ETF (AETH) is 6.49%, while BitMine Immersion Technologies, Inc. (BMNR) has a volatility of 22.56%. 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 | 6.49% | 22.56% | -16.07% |
Volatility (6M)Calculated over the trailing 6-month period | 25.58% | 59.15% | -33.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.81% | 717.41% | -673.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.20% | 698.78% | -644.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.20% | 698.78% | -644.58% |
Dividends
AETH vs. BMNR - Dividend Comparison
AETH's dividend yield for the trailing twelve months is around 2.97%, more than BMNR's 0.07% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AETH Bitwise Ethereum Strategy ETF | 2.97% | 2.41% | 14.73% | 6.64% |
BMNR BitMine Immersion Technologies, Inc. | 0.07% | 0.04% | 0.00% | 0.00% |
Frequently Asked Questions
AETH and BMNR have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMNR has higher volatility (22.56%) compared to AETH (6.49%). In terms of maximum drawdown, AETH dropped -49.62% vs BMNR's -90.13%.
BMNR currently has the higher Sharpe Ratio (0.29 vs -0.36), 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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