BTRN vs. ETH

Last updated Jul 15, 2026

BTRN (Global X Bitcoin Trend Strategy ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. BTRN is passively managed, while ETH is actively managed. Over the past year, BTRN returned -25.61% vs -36.80% for ETH. A 0.58 correlation means they provide meaningful diversification when combined. BTRN charges 0.95%/yr vs 0.15%/yr for ETH.

Performance

BTRN vs. ETH - Performance Comparison

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

Returns By Period

In the year-to-date period, BTRN achieves a -9.67% return, which is significantly higher than ETH's -36.28% return.

BTRN

• 1D: 0.99%
• 1M: -0.56%
• 6M: -11.31%
• YTD: -9.67%
• 1Y: -25.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETH

• 1D: 5.86%
• 1M: 12.95%
• 6M: -40.97%
• YTD: -36.28%
• 1Y: -36.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTRN vs. ETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	-9.67%	4.89%	23.31%
ETH Grayscale Ethereum Staking Mini ETF	-36.28%	-10.89%	-4.58%

Correlation

The correlation between BTRN and ETH is 0.57, 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	0.57
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.58

The correlation between BTRN and ETH has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.

Return for Risk

BTRN vs. ETH — Risk / Return Rank

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

BTRN

BTRN Risk / Return Rank: 0
BTRN Sharpe Ratio Rank: 0
BTRN Sortino Ratio Rank: 1
BTRN Omega Ratio Rank: 0
BTRN Calmar Ratio Rank: 0
BTRN Martin Ratio Rank: 1

ETH

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

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. ETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Bitcoin Trend Strategy ETF (BTRN) and Grayscale Ethereum Staking Mini ETF (ETH). 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.

	BTRN	ETH	Difference
Sharpe ratio: Return per unit of total volatility	-1.47	-0.54	-0.93
Sortino ratio: Return per unit of downside risk	-2.01	-0.47	-1.54
Omega ratio: Gain probability vs. loss probability	0.72	0.95	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.55	-0.44
Martin ratio: Return relative to average drawdown	-1.56	-0.86	-0.70

BTRN vs. ETH - Sharpe Ratio Comparison

The current BTRN Sharpe Ratio is -1.47, which is lower than the ETH Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of BTRN and ETH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTRN vs. ETH - Drawdown Comparison

The maximum BTRN drawdown since its inception was -36.97%, smaller than the maximum ETH drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for BTRN and ETH.

Drawdown Indicators

	BTRN	ETH	Difference
Max Drawdown Largest peak-to-trough decline	-36.97%	-67.52%	+30.55%
Max Drawdown (1Y) Largest decline over 1 year	-26.04%	-67.52%	+41.48%
Current Drawdown Current decline from peak	-25.61%	-60.76%	+35.15%
Average Drawdown Average peak-to-trough decline	-14.92%	-34.38%	+19.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.90%	42.94%	-26.04%

Volatility

BTRN vs. ETH - Volatility Comparison

The current volatility for Global X Bitcoin Trend Strategy ETF (BTRN) is 2.03%, while Grayscale Ethereum Staking Mini ETF (ETH) has a volatility of 16.66%. This indicates that BTRN experiences smaller price fluctuations and is considered to be less risky than ETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTRN	ETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	16.66%	-14.63%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	47.38%	-37.08%
Volatility (1Y) Calculated over the trailing 1-year period	17.60%	68.36%	-50.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.26%	71.90%	-41.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.26%	71.90%	-41.64%

BTRN vs. ETH - Expense Ratio Comparison

BTRN has a 0.95% expense ratio, which is higher than ETH's 0.15% expense ratio.

Dividends

BTRN vs. ETH - Dividend Comparison

BTRN's dividend yield for the trailing twelve months is around 31.08%, while ETH has not paid dividends to shareholders.

Position	TTM	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	31.08%	27.76%	2.56%
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTRN and ETH in my portfolio?

BTRN and ETH have a correlation of 0.57, 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 ETH?

ETH has higher volatility (16.66%) compared to BTRN (2.03%). In terms of maximum drawdown, BTRN dropped -36.97% vs ETH's -67.52%.

Which ETF is better, BTRN or ETH?

On 1-year performance, BTRN leads with -25.61% vs -36.80% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, BTRN has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTRN or ETH?

Over the 1-year period, BTRN has performed better with a -25.61% return vs -36.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTRN or ETH?

ETH is cheaper with a 0.15% expense ratio, compared with 0.95% for BTRN.

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

BTRN has the higher dividend yield at 31.08%, compared with 0.00% for ETH.

What is the main difference between BTRN and ETH?

They also come from different issuers: Global X and Grayscale. Their fees differ too: 0.95% for BTRN and 0.15% for ETH.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.54 vs -1.47), 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.