BFAP vs. ETH

Last updated Jul 16, 2026

BFAP (FT Vest Bitcoin Strategy Floor15 ETF - April) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BFAP returned -28.57% vs -36.12% for ETH. Their correlation of 0.83 suggests significant overlap in exposure. BFAP charges 0.90%/yr vs 0.15%/yr for ETH.

Performance

BFAP vs. ETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) and Grayscale Ethereum Staking Mini ETF (ETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFAP achieves a -20.77% return, which is significantly higher than ETH's -34.71% return.

BFAP

• 1D: 0.30%
• 1M: -0.75%
• 6M: -27.01%
• YTD: -20.77%
• 1Y: -28.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETH

• 1D: 2.46%
• 1M: 5.83%
• 6M: -42.73%
• YTD: -34.71%
• 1Y: -36.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BFAP vs. ETH - Yearly Performance Comparison

	2026 (YTD)	2025
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	-20.77%	8.90%
ETH Grayscale Ethereum Staking Mini ETF	-34.71%	66.83%

Correlation

The correlation between BFAP and ETH is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.83

The correlation between BFAP and ETH has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

BFAP vs. ETH — Risk / Return Rank

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

BFAP

BFAP Risk / Return Rank: 1
BFAP Sharpe Ratio Rank: 0
BFAP Sortino Ratio Rank: 1
BFAP Omega Ratio Rank: 1
BFAP Calmar Ratio Rank: 2
BFAP Martin Ratio Rank: 1

ETH

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

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.

BFAP vs. ETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) and Grayscale Ethereum Staking Mini ETF (ETH). 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.

	BFAP	ETH	Difference
Sharpe ratio: Return per unit of total volatility	-1.33	-0.53	-0.80
Sortino ratio: Return per unit of downside risk	-1.88	-0.45	-1.43
Omega ratio: Gain probability vs. loss probability	0.78	0.95	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.84	-0.54	-0.30
Martin ratio: Return relative to average drawdown	-1.43	-0.84	-0.59

BFAP vs. ETH - Sharpe Ratio Comparison

The current BFAP Sharpe Ratio is -1.33, which is lower than the ETH Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of BFAP and ETH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BFAP vs. ETH - Drawdown Comparison

The maximum BFAP drawdown since its inception was -34.15%, smaller than the maximum ETH drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for BFAP and ETH.

Drawdown Indicators

	BFAP	ETH	Difference
Max Drawdown Largest peak-to-trough decline	-34.15%	-67.52%	+33.37%
Max Drawdown (1Y) Largest decline over 1 year	-34.15%	-67.52%	+33.37%
Current Drawdown Current decline from peak	-31.14%	-59.79%	+28.65%
Average Drawdown Average peak-to-trough decline	-12.62%	-34.43%	+21.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.04%	43.11%	-23.07%

Volatility

BFAP vs. ETH - Volatility Comparison

The current volatility for FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) is 4.90%, while Grayscale Ethereum Staking Mini ETF (ETH) has a volatility of 16.69%. This indicates that BFAP experiences smaller price fluctuations and is considered to be less risky than ETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFAP	ETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	16.69%	-11.79%
Volatility (6M) Calculated over the trailing 6-month period	16.55%	47.44%	-30.89%
Volatility (1Y) Calculated over the trailing 1-year period	21.52%	68.40%	-46.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.28%	71.85%	-51.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.28%	71.85%	-51.57%

BFAP vs. ETH - Expense Ratio Comparison

BFAP has a 0.90% expense ratio, which is higher than ETH's 0.15% expense ratio.

Dividends

BFAP vs. ETH - Dividend Comparison

BFAP's dividend yield for the trailing twelve months is around 23.94%, while ETH has not paid dividends to shareholders.

Position	TTM	2025
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	23.94%	18.97%
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BFAP and ETH in my portfolio?

BFAP and ETH have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFAP or ETH?

ETH has higher volatility (16.69%) compared to BFAP (4.90%). In terms of maximum drawdown, BFAP dropped -34.15% vs ETH's -67.52%.

Which ETF is better, BFAP or ETH?

On 1-year performance, BFAP leads with -28.57% vs -36.12% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, BFAP has been the lower-risk option at 4.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BFAP or ETH?

Over the 1-year period, BFAP has performed better with a -28.57% return vs -36.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BFAP or ETH?

ETH is cheaper with a 0.15% expense ratio, compared with 0.90% for BFAP.

Which ETF pays a higher dividend yield, BFAP or ETH?

BFAP has the higher dividend yield at 23.94%, compared with 0.00% for ETH.

What is the main difference between BFAP and ETH?

They also come from different issuers: First Trust and Grayscale. Their fees differ too: 0.90% for BFAP and 0.15% for ETH.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.53 vs -1.33), 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.