AETH vs. IBIT

Last updated Apr 1, 2026

Compare and contrast key facts about Bitwise Ethereum Strategy ETF (AETH) and iShares Bitcoin Trust ETF (IBIT).

AETH and IBIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AETH is an actively managed fund by Bitwise. It was launched on Sep 29, 2023. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024.

Performance

AETH vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Ethereum Strategy ETF (AETH) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

AETH vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AETH Bitwise Ethereum Strategy ETF	-5.53%	-0.11%	19.02%
IBIT iShares Bitcoin Trust ETF	-22.62%	-6.41%	99.21%

Returns By Period

In the year-to-date period, AETH achieves a -5.53% return, which is significantly higher than IBIT's -22.62% return.

AETH

• 1D: -0.03%
• 1M: -2.72%
• YTD: -5.53%
• 6M: -26.96%
• 1Y: 27.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: 1.96%
• 1M: 3.31%
• YTD: -22.62%
• 6M: -40.89%
• 1Y: -17.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AETH vs. IBIT - Expense Ratio Comparison

AETH has a 0.90% expense ratio, which is higher than IBIT's 0.25% expense ratio.

AETH

Bitwise Ethereum Strategy ETF

IBIT

iShares Bitcoin Trust ETF

Return for Risk

AETH vs. IBIT — Risk / Return Rank

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

AETH

AETH Risk / Return Rank: 35
AETH Sharpe Ratio Rank: 31
AETH Sortino Ratio Rank: 48
AETH Omega Ratio Rank: 49
AETH Calmar Ratio Rank: 27
AETH Martin Ratio Rank: 19

IBIT

IBIT Risk / Return Rank: 6
IBIT Sharpe Ratio Rank: 5
IBIT Sortino Ratio Rank: 6
IBIT Omega Ratio Rank: 7
IBIT Calmar Ratio Rank: 6
IBIT Martin Ratio Rank: 6

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.

AETH vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Strategy ETF (AETH) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio Return per unit of total volatility	0.55	-0.40	+0.94
Sortino ratio Return per unit of downside risk	1.25	-0.29	+1.54
Omega ratio Gain probability vs. loss probability	1.18	0.97	+0.21
Calmar ratio Return relative to maximum drawdown	0.60	-0.39	+0.99
Martin ratio Return relative to average drawdown	0.97	-0.83	+1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AETH vs. IBIT - Sharpe Ratio Comparison

The current AETH Sharpe Ratio is 0.55, which is higher than the IBIT Sharpe Ratio of -0.40. The chart below compares the historical Sharpe Ratios of AETH and IBIT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AETH	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	-0.40	+0.94
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.35	+0.08

Correlation

The correlation between AETH and IBIT is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AETH vs. IBIT - Dividend Comparison

AETH's dividend yield for the trailing twelve months is around 2.55%, while IBIT has not paid dividends to shareholders.

	TTM	2025	2024	2023
AETH Bitwise Ethereum Strategy ETF	2.55%	2.41%	14.73%	6.64%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

AETH vs. IBIT - Drawdown Comparison

The maximum AETH drawdown since its inception was -47.78%, roughly equal to the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for AETH and IBIT.

Drawdown Indicators

	AETH	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-47.78%	-49.36%	+1.58%
Max Drawdown (1Y) Largest decline over 1 year	-41.40%	-49.36%	+7.96%
Current Drawdown Current decline from peak	-41.20%	-46.11%	+4.91%
Average Drawdown Average peak-to-trough decline	-23.48%	-14.13%	-9.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.68%	23.09%	+2.59%

Volatility

AETH vs. IBIT - Volatility Comparison

Bitwise Ethereum Strategy ETF (AETH) has a higher volatility of 18.87% compared to iShares Bitcoin Trust ETF (IBIT) at 12.99%. This indicates that AETH's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AETH	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.87%	12.99%	+5.88%
Volatility (6M) Calculated over the trailing 6-month period	28.66%	36.75%	-8.09%
Volatility (1Y) Calculated over the trailing 1-year period	51.05%	45.42%	+5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.19%	51.26%	+4.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.19%	51.26%	+4.93%