AETH vs. IETH
AETH (Bitwise Ethereum Strategy ETF) and IETH (Bitwise Ethereum Option Income Strategy ETF) are both exchange-traded funds - AETH is a Cryptocurrency fund actively managed by Bitwise, while IETH is a Derivative Income fund actively managed by Bitwise. Both are actively managed. A 0.50 correlation means they provide meaningful diversification when combined. AETH charges 0.90%/yr vs 0.97%/yr for IETH.
Performance
AETH vs. IETH - Performance Comparison
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Returns By Period
In the year-to-date period, AETH achieves a -9.79% return, which is significantly higher than IETH's -33.82% return.
AETH
- 1D
- -0.01%
- 1M
- -4.98%
- YTD
- -9.79%
- 6M
- -15.30%
- 1Y
- -16.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IETH
- 1D
- -5.08%
- 1M
- -18.82%
- YTD
- -33.82%
- 6M
- -35.44%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AETH vs. IETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AETH Bitwise Ethereum Strategy ETF | -9.79% | -22.73% |
IETH Bitwise Ethereum Option Income Strategy ETF | -33.82% | -28.43% |
Correlation
The correlation between AETH and IETH is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 3, 2025 | 0.50 |
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Return for Risk
AETH vs. IETH — Risk / Return Rank
AETH
IETH
AETH vs. IETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Ethereum Strategy ETF (AETH) and Bitwise Ethereum Option Income Strategy ETF (IETH). 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 | IETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.96 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | — | — |
| Martin ratioReturn relative to average drawdown | -0.52 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AETH | IETH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | -1.13 | +1.51 |
Drawdowns
AETH vs. IETH - Drawdown Comparison
The maximum AETH drawdown since its inception was -47.78%, smaller than the maximum IETH drawdown of -55.94%. Use the drawdown chart below to compare losses from any high point for AETH and IETH.
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Drawdown Indicators
| AETH | IETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.78% | -55.94% | +8.16% |
Max Drawdown (1Y)Largest decline over 1 year | -43.98% | — | — |
Current DrawdownCurrent decline from peak | -43.85% | -54.25% | +10.40% |
Average DrawdownAverage peak-to-trough decline | -24.65% | -37.10% | +12.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.86% | — | — |
Volatility
AETH vs. IETH - Volatility Comparison
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Volatility by Period
| AETH | IETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 27.18% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 45.03% | 59.79% | -14.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.68% | 59.79% | -5.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.68% | 59.79% | -5.11% |
AETH vs. IETH - Expense Ratio Comparison
AETH has a 0.90% expense ratio, which is lower than IETH's 0.97% expense ratio.
Dividends
AETH vs. IETH - Dividend Comparison
AETH's dividend yield for the trailing twelve months is around 2.67%, less than IETH's 46.99% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AETH Bitwise Ethereum Strategy ETF | 2.67% | 2.41% | 14.73% | 6.64% |
IETH Bitwise Ethereum Option Income Strategy ETF | 46.99% | 18.26% | 0.00% | 0.00% |
Frequently Asked Questions
AETH and IETH have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AETH is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AETH is cheaper with a 0.90% expense ratio, compared with 0.97% for IETH.
IETH has the higher dividend yield at 46.99%, compared with 2.67% for AETH.
AETH is categorized as Cryptocurrency, while IETH is Derivative Income. Their fees differ too: 0.90% for AETH and 0.97% for IETH.
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