BMNR vs. ETHA
BMNR (BitMine Immersion Technologies, Inc.) is a stock, while ETHA (iShares Ethereum Trust ETF) is Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant. Over the past year, BMNR returned 217.29% vs -35.39% for ETHA. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
BMNR vs. ETHA - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BMNR having a -48.36% return and ETHA slightly higher at -46.86%.
BMNR
- 1D
- -7.34%
- 1M
- -25.74%
- YTD
- -48.36%
- 6M
- -52.23%
- 1Y
- 217.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA
- 1D
- -4.79%
- 1M
- -23.44%
- YTD
- -46.86%
- 6M
- -46.23%
- 1Y
- -35.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNR vs. ETHA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BMNR BitMine Immersion Technologies, Inc. | -48.36% | 274.59% |
ETHA iShares Ethereum Trust ETF | -46.86% | 12.83% |
Correlation
The correlation between BMNR and ETHA is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.72 |
The correlation between BMNR and ETHA has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.
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Return for Risk
BMNR vs. ETHA — Risk / Return Rank
BMNR
ETHA
BMNR vs. ETHA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BitMine Immersion Technologies, Inc. (BMNR) 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.
| BMNR | ETHA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +8.78 | ||
| Omega ratioGain probability vs. loss probability | 1.99 | 0.95 | +1.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | -0.53 | +2.97 |
| Martin ratioReturn relative to average drawdown | 2.92 | -0.87 | +3.79 |
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Drawdowns
BMNR vs. ETHA - Drawdown Comparison
The maximum BMNR drawdown since its inception was -89.61%, which is greater than ETHA's maximum drawdown of -67.56%. Use the drawdown chart below to compare losses from any high point for BMNR and ETHA.
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Drawdown Indicators
| BMNR | ETHA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.61% | -67.56% | -22.05% |
Max Drawdown (1Y)Largest decline over 1 year | -89.61% | -67.56% | -22.05% |
Current DrawdownCurrent decline from peak | -89.61% | -67.42% | -22.19% |
Average DrawdownAverage peak-to-trough decline | -71.30% | -33.71% | -37.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 74.78% | 40.63% | +34.15% |
Volatility
BMNR vs. ETHA - Volatility Comparison
BitMine Immersion Technologies, Inc. (BMNR) has a higher volatility of 22.24% compared to iShares Ethereum Trust ETF (ETHA) at 20.10%. This indicates that BMNR's price experiences larger fluctuations and is considered to be riskier 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
| BMNR | ETHA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.24% | 20.10% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 59.04% | 46.66% | +12.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 717.39% | 69.37% | +648.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 701.40% | 72.66% | +628.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 701.40% | 72.66% | +628.74% |
Dividends
BMNR vs. ETHA - Dividend Comparison
BMNR's dividend yield for the trailing twelve months is around 0.07%, while ETHA has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BMNR BitMine Immersion Technologies, Inc. | 0.07% | 0.04% |
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% |
Frequently Asked Questions
BMNR and ETHA have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMNR has higher volatility (22.24%) compared to ETHA (20.10%). In terms of maximum drawdown, BMNR dropped -89.61% vs ETHA's -67.56%.
BMNR currently has the higher Sharpe Ratio (0.30 vs -0.51), 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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