BTCW vs. AETH

Last updated Apr 2, 2026

Compare and contrast key facts about Wisdom Tree Bitcoin Fund (BTCW) and Bitwise Ethereum Strategy ETF (AETH).

BTCW and AETH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCW is managed by WisdomTree. It was launched on Jan 11, 2024. AETH is an actively managed fund by Bitwise. It was launched on Sep 29, 2023.

Performance

BTCW vs. AETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wisdom Tree Bitcoin Fund (BTCW) and Bitwise Ethereum Strategy ETF (AETH). The values are adjusted to include any dividend payments, if applicable.

BTCW vs. AETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCW Wisdom Tree Bitcoin Fund	-22.24%	-6.05%	100.00%
AETH Bitwise Ethereum Strategy ETF	-5.52%	-0.11%	19.02%

Returns By Period

In the year-to-date period, BTCW achieves a -22.24% return, which is significantly lower than AETH's -5.52% return.

BTCW

• 1D: 0.50%
• 1M: -1.54%
• YTD: -22.24%
• 6M: -42.12%
• 1Y: -19.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AETH

• 1D: 0.01%
• 1M: -2.71%
• YTD: -5.52%
• 6M: -27.06%
• 1Y: 27.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCW vs. AETH - Expense Ratio Comparison

BTCW has a 0.30% expense ratio, which is lower than AETH's 0.90% expense ratio.

AETH

Bitwise Ethereum Strategy ETF

BTCW

Wisdom Tree Bitcoin Fund

Return for Risk

BTCW vs. AETH — Risk / Return Rank

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

BTCW

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

AETH

AETH Risk / Return Rank: 32
AETH Sharpe Ratio Rank: 28
AETH Sortino Ratio Rank: 43
AETH Omega Ratio Rank: 45
AETH Calmar Ratio Rank: 27
AETH Martin Ratio Rank: 19

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.

BTCW vs. AETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wisdom Tree Bitcoin Fund (BTCW) and Bitwise Ethereum Strategy ETF (AETH). 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.

	BTCW	AETH	Difference
Sharpe ratio Return per unit of total volatility	-0.44	0.55	-0.99
Sortino ratio Return per unit of downside risk	-0.37	1.25	-1.62
Omega ratio Gain probability vs. loss probability	0.96	1.18	-0.22
Calmar ratio Return relative to maximum drawdown	-0.35	0.67	-1.02
Martin ratio Return relative to average drawdown	-0.75	1.07	-1.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCW vs. AETH - Sharpe Ratio Comparison

The current BTCW Sharpe Ratio is -0.44, which is lower than the AETH Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of BTCW and AETH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BTCW	AETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	0.55	-0.99
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.43	-0.06

Correlation

The correlation between BTCW and AETH is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BTCW vs. AETH - Dividend Comparison

BTCW has not paid dividends to shareholders, while AETH's dividend yield for the trailing twelve months is around 2.55%.

	TTM	2025	2024	2023
BTCW Wisdom Tree Bitcoin Fund	0.00%	0.00%	0.00%	0.00%
AETH Bitwise Ethereum Strategy ETF	2.55%	2.41%	14.73%	6.64%

Drawdowns

BTCW vs. AETH - Drawdown Comparison

The maximum BTCW drawdown since its inception was -49.29%, roughly equal to the maximum AETH drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for BTCW and AETH.

Drawdown Indicators

	BTCW	AETH	Difference
Max Drawdown Largest peak-to-trough decline	-49.29%	-47.78%	-1.51%
Max Drawdown (1Y) Largest decline over 1 year	-49.29%	-41.40%	-7.89%
Current Drawdown Current decline from peak	-45.80%	-41.19%	-4.61%
Average Drawdown Average peak-to-trough decline	-14.16%	-23.51%	+9.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.23%	25.81%	-2.58%

Volatility

BTCW vs. AETH - Volatility Comparison

The current volatility for Wisdom Tree Bitcoin Fund (BTCW) is 12.82%, while Bitwise Ethereum Strategy ETF (AETH) has a volatility of 18.61%. This indicates that BTCW experiences smaller price fluctuations and is considered to be less risky than AETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCW	AETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.82%	18.61%	-5.79%
Volatility (6M) Calculated over the trailing 6-month period	36.58%	28.66%	+7.92%
Volatility (1Y) Calculated over the trailing 1-year period	45.26%	51.00%	-5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.13%	56.15%	-5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.13%	56.15%	-5.02%