AETH vs. IBHE
AETH (Bitwise Ethereum Strategy ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both exchange-traded funds - AETH is a Cryptocurrency fund actively managed by Bitwise, while IBHE is a High Yield Bonds fund tracking the Bloomberg 2025 Term High Yield and Income Index. AETH is actively managed, while IBHE is passively managed. Over the past year, AETH returned -16.05% vs 2.31% for IBHE. At a 0.14 correlation, their price movements are largely independent. AETH charges 0.90%/yr vs 0.35%/yr for IBHE.
Performance
AETH vs. IBHE - Performance Comparison
Loading charts...
Returns By Period
AETH
- 1D
- -0.01%
- 1M
- -4.98%
- YTD
- -9.79%
- 6M
- -15.30%
- 1Y
- -16.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.09%
- 1Y
- 2.31%
- 3Y*
- 6.07%
- 5Y*
- 3.89%
- 10Y*
- —
AETH vs. IBHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AETH Bitwise Ethereum Strategy ETF | -9.79% | -0.11% | 31.76% | 37.65% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 0.00% | 4.45% | 7.62% | 3.32% |
Correlation
The correlation between AETH and IBHE is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023 | 0.14 |
The correlation between AETH and IBHE shifts across timeframes, from -0.11 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AETH vs. IBHE — Risk / Return Rank
AETH
IBHE
AETH vs. IBHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Strategy ETF (AETH) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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.
| AETH | IBHE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.87 | ||
| Sortino ratioReturn per unit of downside risk | -6.59 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 2.19 | -1.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 12.78 | -13.15 |
| Martin ratioReturn relative to average drawdown | -0.52 | 63.40 | -63.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AETH | IBHE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | 3.51 | -3.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.83 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.41 | -0.03 |
Drawdowns
AETH vs. IBHE - Drawdown Comparison
The maximum AETH drawdown since its inception was -47.78%, which is greater than IBHE's maximum drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for AETH and IBHE.
Loading charts...
Drawdown Indicators
| AETH | IBHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.78% | -26.91% | -20.87% |
Max Drawdown (1Y)Largest decline over 1 year | -43.98% | -0.22% | -43.76% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.94% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.51% | — |
Current DrawdownCurrent decline from peak | -43.85% | 0.00% | -43.85% |
Average DrawdownAverage peak-to-trough decline | -24.65% | -1.42% | -23.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.86% | 0.05% | +30.81% |
Volatility
AETH vs. IBHE - Volatility Comparison
Bitwise Ethereum Strategy ETF (AETH) has a higher volatility of 4.02% compared to iShares iBonds 2025 Term High Yield & Income ETF (IBHE) at 0.00%. This indicates that AETH's price experiences larger fluctuations and is considered to be riskier than IBHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AETH | IBHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 0.00% | +4.02% |
Volatility (6M)Calculated over the trailing 6-month period | 27.18% | 0.39% | +26.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.03% | 0.78% | +44.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.68% | 4.87% | +49.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.68% | 11.53% | +43.15% |
AETH vs. IBHE - Expense Ratio Comparison
AETH has a 0.90% expense ratio, which is higher than IBHE's 0.35% expense ratio.
Dividends
AETH vs. IBHE - Dividend Comparison
AETH's dividend yield for the trailing twelve months is around 2.67%, more than IBHE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AETH Bitwise Ethereum Strategy ETF | 2.67% | 2.41% | 14.73% | 6.64% | 0.00% | 0.00% | 0.00% | 0.00% |
IBHE iShares iBonds 2025 Term High Yield & Income ETF | 2.29% | 4.53% | 6.92% | 7.17% | 5.77% | 4.84% | 5.74% | 3.73% |
Frequently Asked Questions
AETH and IBHE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AETH has higher volatility (4.02%) compared to IBHE (0.00%). In terms of maximum drawdown, AETH dropped -47.78% vs IBHE's -26.91%.
On 1-year performance, IBHE leads with 2.31% vs -16.05% for AETH. On fees, IBHE is cheaper at 0.35% per year. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBHE has performed better with a 2.31% return vs -16.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHE is cheaper with a 0.35% expense ratio, compared with 0.90% for AETH.
AETH has the higher dividend yield at 2.67%, compared with 2.29% for IBHE.
AETH is categorized as Cryptocurrency, while IBHE is High Yield Bonds. They also come from different issuers: Bitwise and iShares. Their fees differ too: 0.90% for AETH and 0.35% for IBHE.
IBHE currently has the higher Sharpe Ratio (3.51 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.
Find the right allocation for AETH and IBHE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer