BETE vs. ETHA
BETE (Proshares Bitcoin & Ether Equal Weight Strategy ETF) and ETHA (iShares Ethereum Trust ETF) are both Cryptocurrency funds. Over the past year, BETE returned -41.25% vs -36.20% for ETHA. With a 0.96 correlation, they move nearly in lockstep. BETE charges 0.95%/yr vs 0.25%/yr for ETHA.
Performance
BETE vs. ETHA - Performance Comparison
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Returns By Period
In the year-to-date period, BETE achieves a -41.67% return, which is significantly higher than ETHA's -47.66% return.
BETE
- 1D
- -1.16%
- 1M
- -23.42%
- YTD
- -41.67%
- 6M
- -41.18%
- 1Y
- -41.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA
- 1D
- -1.51%
- 1M
- -24.84%
- YTD
- -47.66%
- 6M
- -47.05%
- 1Y
- -36.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BETE vs. ETHA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF | -41.67% | -8.17% | 11.01% |
ETHA iShares Ethereum Trust ETF | -47.66% | -11.31% | -4.89% |
Correlation
The correlation between BETE and ETHA is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.96 |
The correlation between BETE and ETHA has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
BETE vs. ETHA — Risk / Return Rank
BETE
ETHA
BETE vs. ETHA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) and iShares Ethereum Trust ETF (ETHA). 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.
| BETE | ETHA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.95 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | -0.53 | -0.14 |
| Martin ratioReturn relative to average drawdown | -1.14 | -0.89 | -0.25 |
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Drawdowns
BETE vs. ETHA - Drawdown Comparison
The maximum BETE drawdown since its inception was -61.75%, smaller than the maximum ETHA drawdown of -67.91%. Use the drawdown chart below to compare losses from any high point for BETE and ETHA.
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Drawdown Indicators
| BETE | ETHA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.75% | -67.91% | +6.16% |
Max Drawdown (1Y)Largest decline over 1 year | -61.75% | -67.91% | +6.16% |
Current DrawdownCurrent decline from peak | -61.75% | -67.91% | +6.16% |
Average DrawdownAverage peak-to-trough decline | -22.21% | -33.78% | +11.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.38% | 40.85% | -4.47% |
Volatility
BETE vs. ETHA - Volatility Comparison
The current volatility for Proshares Bitcoin & Ether Equal Weight Strategy ETF (BETE) is 16.09%, while iShares Ethereum Trust ETF (ETHA) has a volatility of 20.03%. This indicates that BETE experiences smaller price fluctuations and is considered to be less risky than ETHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BETE | ETHA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.09% | 20.03% | -3.94% |
Volatility (6M)Calculated over the trailing 6-month period | 40.25% | 46.67% | -6.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.79% | 69.18% | -13.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.57% | 72.59% | -16.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.57% | 72.59% | -16.02% |
BETE vs. ETHA - Expense Ratio Comparison
BETE has a 0.95% expense ratio, which is higher than ETHA's 0.25% expense ratio.
Dividends
BETE vs. ETHA - Dividend Comparison
BETE's dividend yield for the trailing twelve months is around 94.76%, while ETHA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BETE Proshares Bitcoin & Ether Equal Weight Strategy ETF | 94.76% | 68.22% | 15.22% | 0.78% |
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, BETE and ETHA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ETHA has higher volatility (20.03%) compared to BETE (16.09%). In terms of maximum drawdown, BETE dropped -61.75% vs ETHA's -67.91%.
On 1-year performance, ETHA leads with -36.20% vs -41.25% for BETE. On fees, ETHA is cheaper at 0.25% per year. On volatility, BETE has been the lower-risk option at 16.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ETHA has performed better with a -36.20% return vs -41.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 0.95% for BETE.
BETE has the higher dividend yield at 94.76%, compared with 0.00% for ETHA.
They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for BETE and 0.25% for ETHA.
ETHA currently has the higher Sharpe Ratio (-0.52 vs -0.74), 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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