BTRN vs. AETH

Last updated Jun 4, 2026

BTRN (Global X Bitcoin Trend Strategy ETF) and AETH (Bitwise Ethereum Strategy ETF) are both Cryptocurrency funds. BTRN is passively managed, while AETH is actively managed. Over the past year, BTRN returned -18.31% vs -16.05% for AETH. A 0.55 correlation means they provide meaningful diversification when combined. BTRN charges 0.95%/yr vs 0.90%/yr for AETH.

Performance

BTRN vs. AETH - Performance Comparison

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

Returns By Period

In the year-to-date period, BTRN achieves a -9.29% return, which is significantly higher than AETH's -9.79% return.

BTRN

• 1D: -1.35%
• 1M: -12.31%
• YTD: -9.29%
• 6M: -9.90%
• 1Y: -18.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AETH

• 1D: -0.01%
• 1M: -4.98%
• YTD: -9.79%
• 6M: -15.30%
• 1Y: -16.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTRN vs. AETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	-9.29%	4.89%	5.22%
AETH Bitwise Ethereum Strategy ETF	-9.79%	-0.11%	-8.50%

Correlation

The correlation between BTRN and AETH is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Mar 22, 2024	0.55

The correlation between BTRN and AETH has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.

Return for Risk

BTRN vs. AETH — Risk / Return Rank

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

BTRN

BTRN Risk / Return Rank: 2
BTRN Sharpe Ratio Rank: 2
BTRN Sortino Ratio Rank: 2
BTRN Omega Ratio Rank: 2
BTRN Calmar Ratio Rank: 3
BTRN Martin Ratio Rank: 3

AETH

AETH Risk / Return Rank: 6
AETH Sharpe Ratio Rank: 5
AETH Sortino Ratio Rank: 6
AETH Omega Ratio Rank: 5
AETH Calmar Ratio Rank: 5
AETH 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.

BTRN vs. AETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Bitcoin Trend Strategy ETF (BTRN) 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.

	BTRN	AETH	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	-0.36	-0.57
Sortino ratio: Return per unit of downside risk	-1.23	-0.26	-0.98
Omega ratio: Gain probability vs. loss probability	0.84	0.96	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.73	-0.37	-0.36
Martin ratio: Return relative to average drawdown	-1.25	-0.52	-0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTRN vs. AETH - Sharpe Ratio Comparison

The current BTRN Sharpe Ratio is -0.93, which is lower than the AETH Sharpe Ratio of -0.36. The chart below compares the historical Sharpe Ratios of BTRN and AETH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTRN	AETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.93	-0.36	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.37	-0.37

Drawdowns

BTRN vs. AETH - Drawdown Comparison

The maximum BTRN drawdown since its inception was -36.97%, smaller than the maximum AETH drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for BTRN and AETH.

Drawdown Indicators

	BTRN	AETH	Difference
Max Drawdown Largest peak-to-trough decline	-36.97%	-47.78%	+10.81%
Max Drawdown (1Y) Largest decline over 1 year	-25.29%	-43.98%	+18.69%
Current Drawdown Current decline from peak	-25.29%	-43.85%	+18.56%
Average Drawdown Average peak-to-trough decline	-14.41%	-24.65%	+10.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.68%	30.86%	-16.18%

Volatility

BTRN vs. AETH - Volatility Comparison

Global X Bitcoin Trend Strategy ETF (BTRN) has a higher volatility of 7.24% compared to Bitwise Ethereum Strategy ETF (AETH) at 4.02%. This indicates that BTRN's price experiences larger fluctuations and is considered to be riskier than AETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTRN	AETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.24%	4.02%	+3.22%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	27.18%	-16.83%
Volatility (1Y) Calculated over the trailing 1-year period	19.91%	45.03%	-25.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.96%	54.68%	-23.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.96%	54.68%	-23.72%

BTRN vs. AETH - Expense Ratio Comparison

BTRN has a 0.95% expense ratio, which is higher than AETH's 0.90% expense ratio.

Dividends

BTRN vs. AETH - Dividend Comparison

BTRN's dividend yield for the trailing twelve months is around 30.60%, more than AETH's 2.67% yield.

Position	TTM	2025	2024	2023
AETH Bitwise Ethereum Strategy ETF	2.67%	2.41%	14.73%	6.64%
BTRN Global X Bitcoin Trend Strategy ETF	30.60%	27.76%	2.56%	0.00%

Frequently Asked Questions

Can I hold both BTRN and AETH in my portfolio?

BTRN and AETH have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTRN or AETH?

BTRN has higher volatility (7.24%) compared to AETH (4.02%). In terms of maximum drawdown, BTRN dropped -36.97% vs AETH's -47.78%.

Which ETF is better, BTRN or AETH?

On 1-year performance, AETH leads with -16.05% vs -18.31% for BTRN. On fees, AETH is cheaper at 0.90% per year. On volatility, AETH has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTRN or AETH?

Over the 1-year period, AETH has performed better with a -16.05% return vs -18.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTRN or AETH?

AETH is cheaper with a 0.90% expense ratio, compared with 0.95% for BTRN.

Which ETF pays a higher dividend yield, BTRN or AETH?

BTRN has the higher dividend yield at 30.60%, compared with 2.67% for AETH.

What is the main difference between BTRN and AETH?

They also come from different issuers: Global X and Bitwise. Their fees differ too: 0.95% for BTRN and 0.90% for AETH.

Which has better risk-adjusted returns?

AETH currently has the higher Sharpe Ratio (-0.36 vs -0.93), 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.