BITC vs. IETH
BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) and IETH (Bitwise Ethereum Option Income Strategy ETF) are both exchange-traded funds - BITC is a Cryptocurrency fund actively managed by Bitwise, while IETH is a Derivative Income fund actively managed by Bitwise. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. BITC charges 0.88%/yr vs 0.97%/yr for IETH.
Performance
BITC vs. IETH - Performance Comparison
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Returns By Period
In the year-to-date period, BITC achieves a 3.58% return, which is significantly higher than IETH's -38.45% return.
BITC
- 1D
- -3.33%
- 1M
- -3.10%
- YTD
- 3.58%
- 6M
- 3.49%
- 1Y
- -13.86%
- 3Y*
- 28.98%
- 5Y*
- —
- 10Y*
- —
IETH
- 1D
- -3.27%
- 1M
- -17.57%
- YTD
- -38.45%
- 6M
- -35.98%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITC vs. IETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.58% | -16.89% |
IETH Bitwise Ethereum Option Income Strategy ETF | -38.45% | -27.34% |
Correlation
The correlation between BITC and IETH is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025 | 0.39 |
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Return for Risk
BITC vs. IETH — Risk / Return Rank
BITC
IETH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BITC vs. IETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) 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.
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.
| BITC | IETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.90 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | — | — |
| Martin ratioReturn relative to average drawdown | -0.73 | — | — |
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Drawdowns
BITC vs. IETH - Drawdown Comparison
The maximum BITC drawdown since its inception was -38.51%, smaller than the maximum IETH drawdown of -59.55%. Use the drawdown chart below to compare losses from any high point for BITC and IETH.
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Drawdown Indicators
| BITC | IETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.51% | -59.55% | +21.04% |
Max Drawdown (1Y)Largest decline over 1 year | -26.51% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -38.51% | — | — |
Current DrawdownCurrent decline from peak | -28.82% | -57.45% | +28.63% |
Average DrawdownAverage peak-to-trough decline | -16.51% | -38.29% | +21.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.94% | — | — |
Volatility
BITC vs. IETH - Volatility Comparison
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Volatility by Period
| BITC | IETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 19.00% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.12% | 60.54% | -35.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.29% | 60.54% | -14.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.29% | 60.54% | -14.25% |
BITC vs. IETH - Expense Ratio Comparison
BITC has a 0.88% expense ratio, which is lower than IETH's 0.97% expense ratio.
Dividends
BITC vs. IETH - Dividend Comparison
BITC's dividend yield for the trailing twelve months is around 3.25%, less than IETH's 50.52% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.25% | 3.36% | 42.68% | 5.82% |
IETH Bitwise Ethereum Option Income Strategy ETF | 50.52% | 18.26% | 0.00% | 0.00% |
Frequently Asked Questions
BITC and IETH have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BITC is cheaper at 0.88% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BITC is cheaper with a 0.88% expense ratio, compared with 0.97% for IETH.
IETH has the higher dividend yield at 50.52%, compared with 3.25% for BITC.
BITC is categorized as Cryptocurrency, while IETH is Derivative Income. Their fees differ too: 0.88% for BITC and 0.97% for IETH.
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