BTCZ vs. ETHU

Last updated Apr 1, 2026

Compare and contrast key facts about T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and Volatility Shares 2x Ether ETF (ETHU).

BTCZ and ETHU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCZ is an actively managed fund by T-Rex. It was launched on Jul 9, 2024. ETHU is an actively managed fund by Volatility Shares. It was launched on Nov 1, 2023.

Performance

BTCZ vs. ETHU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and Volatility Shares 2x Ether ETF (ETHU). The values are adjusted to include any dividend payments, if applicable.

BTCZ vs. ETHU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	29.93%	-29.11%	-76.58%
ETHU Volatility Shares 2x Ether ETF	-59.04%	-64.38%	-20.49%

Returns By Period

In the year-to-date period, BTCZ achieves a 29.93% return, which is significantly higher than ETHU's -59.04% return.

BTCZ

• 1D: -4.04%
• 1M: -11.35%
• YTD: 29.93%
• 6M: 93.66%
• 1Y: -16.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETHU

• 1D: 7.40%
• 1M: 13.13%
• YTD: -59.04%
• 6M: -82.69%
• 1Y: -38.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCZ vs. ETHU - Expense Ratio Comparison

BTCZ has a 0.95% expense ratio, which is higher than ETHU's 0.94% expense ratio.

BTCZ

T-Rex 2X Inverse Bitcoin Daily Target ETF

ETHU

Volatility Shares 2x Ether ETF

Return for Risk

BTCZ vs. ETHU — Risk / Return Rank

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

BTCZ

BTCZ Risk / Return Rank: 11
BTCZ Sharpe Ratio Rank: 8
BTCZ Sortino Ratio Rank: 15
BTCZ Omega Ratio Rank: 15
BTCZ Calmar Ratio Rank: 9
BTCZ Martin Ratio Rank: 10

ETHU

ETHU Risk / Return Rank: 13
ETHU Sharpe Ratio Rank: 7
ETHU Sortino Ratio Rank: 25
ETHU Omega Ratio Rank: 22
ETHU Calmar Ratio Rank: 5
ETHU Martin Ratio Rank: 6

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.

BTCZ vs. ETHU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and Volatility Shares 2x Ether ETF (ETHU). 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.

	BTCZ	ETHU	Difference
Sharpe ratio Return per unit of total volatility	-0.18	-0.25	+0.07
Sortino ratio Return per unit of downside risk	0.36	0.66	-0.30
Omega ratio Gain probability vs. loss probability	1.04	1.07	-0.03
Calmar ratio Return relative to maximum drawdown	-0.20	-0.46	+0.26
Martin ratio Return relative to average drawdown	-0.29	-0.80	+0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCZ vs. ETHU - Sharpe Ratio Comparison

The current BTCZ Sharpe Ratio is -0.18, which is comparable to the ETHU Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of BTCZ and ETHU, 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

	BTCZ	ETHU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.18	-0.25	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	-0.59	-0.52	-0.08

Correlation

The correlation between BTCZ and ETHU is -0.81. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BTCZ vs. ETHU - Dividend Comparison

BTCZ's dividend yield for the trailing twelve months is around 0.01%, less than ETHU's 3.51% yield.

	TTM	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%
ETHU Volatility Shares 2x Ether ETF	3.51%	2.31%	0.41%

Drawdowns

BTCZ vs. ETHU - Drawdown Comparison

The maximum BTCZ drawdown since its inception was -91.06%, roughly equal to the maximum ETHU drawdown of -94.05%. Use the drawdown chart below to compare losses from any high point for BTCZ and ETHU.

Drawdown Indicators

	BTCZ	ETHU	Difference
Max Drawdown Largest peak-to-trough decline	-91.06%	-94.05%	+2.99%
Max Drawdown (1Y) Largest decline over 1 year	-68.27%	-89.89%	+21.62%
Current Drawdown Current decline from peak	-79.05%	-92.91%	+13.86%
Average Drawdown Average peak-to-trough decline	-72.74%	-67.20%	-5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.58%	51.47%	-2.89%

Volatility

BTCZ vs. ETHU - Volatility Comparison

The current volatility for T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) is 26.53%, while Volatility Shares 2x Ether ETF (ETHU) has a volatility of 38.13%. This indicates that BTCZ experiences smaller price fluctuations and is considered to be less risky than ETHU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCZ	ETHU	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.53%	38.13%	-11.60%
Volatility (6M) Calculated over the trailing 6-month period	73.35%	109.24%	-35.89%
Volatility (1Y) Calculated over the trailing 1-year period	90.77%	152.45%	-61.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	99.68%	147.79%	-48.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.68%	147.79%	-48.11%