BITQ vs. IETH

Last updated Jun 24, 2026

BITQ (Bitwise Crypto Industry Innovators ETF) and IETH (Bitwise Ethereum Option Income Strategy ETF) are both exchange-traded funds - BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index, while IETH is a Derivative Income fund actively managed by Bitwise. BITQ is passively managed, while IETH is actively managed. A 0.73 correlation means they provide meaningful diversification when combined. BITQ charges 0.85%/yr vs 0.97%/yr for IETH.

Performance

BITQ vs. IETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Crypto Industry Innovators ETF (BITQ) and Bitwise Ethereum Option Income Strategy ETF (IETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITQ achieves a 34.62% return, which is significantly higher than IETH's -38.45% return.

BITQ

• 1D: -2.61%
• 1M: 0.04%
• YTD: 34.62%
• 6M: 25.61%
• 1Y: 49.39%
• 3Y*: 53.03%
• 5Y*: 4.41%
• 10Y*: —

IETH

• 1D: -3.27%
• 1M: -17.57%
• YTD: -38.45%
• 6M: -35.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITQ vs. IETH - Yearly Performance Comparison

	2026 (YTD)	2025
BITQ Bitwise Crypto Industry Innovators ETF	34.62%	-21.72%
IETH Bitwise Ethereum Option Income Strategy ETF	-38.45%	-27.34%

Correlation

The correlation between BITQ and IETH is 0.73, 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 2, 2025	0.73

Return for Risk

BITQ vs. IETH — Risk / Return Rank

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

BITQ

BITQ Risk / Return Rank: 25
BITQ Sharpe Ratio Rank: 25
BITQ Sortino Ratio Rank: 28
BITQ Omega Ratio Rank: 25
BITQ Calmar Ratio Rank: 24
BITQ Martin Ratio Rank: 20

IETH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BITQ vs. IETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) 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.

	BITQ	IETH	Difference
Sharpe ratio: Return per unit of total volatility	0.87	—	—
Sortino ratio: Return per unit of downside risk	1.47	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.10	—	—
Martin ratio: Return relative to average drawdown	2.30	—	—

Drawdowns

BITQ vs. IETH - Drawdown Comparison

The maximum BITQ drawdown since its inception was -90.32%, which is greater than IETH's maximum drawdown of -59.55%. Use the drawdown chart below to compare losses from any high point for BITQ and IETH.

Drawdown Indicators

	BITQ	IETH	Difference
Max Drawdown Largest peak-to-trough decline	-90.32%	-59.55%	-30.77%
Max Drawdown (1Y) Largest decline over 1 year	-44.99%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-51.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-90.32%	—	—
Current Drawdown Current decline from peak	-17.24%	-57.45%	+40.21%
Average Drawdown Average peak-to-trough decline	-52.52%	-38.29%	-14.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.50%	—	—

Volatility

Volatility by Period

	BITQ	IETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	56.94%	60.54%	-3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.32%	60.54%	+6.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.24%	60.54%	+6.70%

BITQ vs. IETH - Expense Ratio Comparison

BITQ has a 0.85% expense ratio, which is lower than IETH's 0.97% expense ratio.

Dividends

BITQ vs. IETH - Dividend Comparison

BITQ has not paid dividends to shareholders, while IETH's dividend yield for the trailing twelve months is around 50.52%.

Position	TTM	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%
IETH Bitwise Ethereum Option Income Strategy ETF	50.52%	18.26%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITQ and IETH in my portfolio?

BITQ and IETH have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BITQ or IETH?

On fees, BITQ is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITQ or IETH?

BITQ is cheaper with a 0.85% expense ratio, compared with 0.97% for IETH.

Which ETF pays a higher dividend yield, BITQ or IETH?

IETH has the higher dividend yield at 50.52%, compared with 0.00% for BITQ.

What is the main difference between BITQ and IETH?

BITQ is categorized as Blockchain, while IETH is Derivative Income. Their fees differ too: 0.85% for BITQ and 0.97% for IETH.