CDOT.DE vs. ETHE.SW

Last updated Jun 4, 2026

CDOT.DE (CoinShares Physical Staked Polkadot EUR ETP) and ETHE.SW (CoinShares Physical Ethereum (ETH)) are both Cryptocurrency funds from CoinShares. Both are actively managed. Over the past 3 years, CDOT.DE returned -39.02%/yr vs -2.54%/yr for ETHE.SW. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.00% expense ratio.

Performance

CDOT.DE vs. ETHE.SW - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE) and CoinShares Physical Ethereum (ETH) (ETHE.SW). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CDOT.DE is traded in EUR, while ETHE.SW is traded in CHF. To make them comparable, the ETHE.SW values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with CDOT.DE having a -37.05% return and ETHE.SW slightly lower at -37.40%.

CDOT.DE

• 1D: 2.61%
• 1M: -7.97%
• YTD: -37.05%
• 6M: -50.39%
• 1Y: -72.75%
• 3Y*: -39.02%
• 5Y*: —
• 10Y*: —

ETHE.SW

• 1D: -3.64%
• 1M: -20.64%
• YTD: -37.40%
• 6M: -39.59%
• 1Y: -30.42%
• 3Y*: -2.54%
• 5Y*: -5.93%
• 10Y*: —

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

CDOT.DE vs. ETHE.SW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CDOT.DE CoinShares Physical Staked Polkadot EUR ETP	-37.05%	-75.15%	-10.53%	101.17%	-75.42%
ETHE.SW CoinShares Physical Ethereum (ETH)	-37.40%	-19.59%	51.71%	74.10%	-47.73%

Correlation

The correlation between CDOT.DE and ETHE.SW is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022	0.52

The correlation between CDOT.DE and ETHE.SW has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

Return for Risk

CDOT.DE vs. ETHE.SW — Risk / Return Rank

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

CDOT.DE

CDOT.DE Risk / Return Rank: 1
CDOT.DE Sharpe Ratio Rank: 1
CDOT.DE Sortino Ratio Rank: 1
CDOT.DE Omega Ratio Rank: 1
CDOT.DE Calmar Ratio Rank: 1
CDOT.DE Martin Ratio Rank: 1

ETHE.SW

ETHE.SW Risk / Return Rank: 5
ETHE.SW Sharpe Ratio Rank: 5
ETHE.SW Sortino Ratio Rank: 6
ETHE.SW Omega Ratio Rank: 6
ETHE.SW Calmar Ratio Rank: 4
ETHE.SW 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.

CDOT.DE vs. ETHE.SW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE) and CoinShares Physical Ethereum (ETH) (ETHE.SW). 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.

	CDOT.DE	ETHE.SW	Difference
Sharpe ratio Return per unit of total volatility	-1.00	-0.39	-0.61
Sortino ratio Return per unit of downside risk	-2.00	-0.13	-1.87
Omega ratio Gain probability vs. loss probability	0.78	0.98	-0.21
Calmar ratio Return relative to maximum drawdown	-0.97	-0.50	-0.46
Martin ratio Return relative to average drawdown	-1.48	-0.86	-0.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDOT.DE vs. ETHE.SW - Sharpe Ratio Comparison

The current CDOT.DE Sharpe Ratio is -1.00, which is lower than the ETHE.SW Sharpe Ratio of -0.39. The chart below compares the historical Sharpe Ratios of CDOT.DE and ETHE.SW, 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

	CDOT.DE	ETHE.SW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.00	-0.39	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.59	0.05	-0.64

Drawdowns

CDOT.DE vs. ETHE.SW - Drawdown Comparison

The maximum CDOT.DE drawdown since its inception was -94.53%, which is greater than ETHE.SW's maximum drawdown of -76.93%. Use the drawdown chart below to compare losses from any high point for CDOT.DE and ETHE.SW.

Drawdown Indicators

	CDOT.DE	ETHE.SW	Difference
Max Drawdown Largest peak-to-trough decline	-94.53%	-76.93%	-17.60%
Max Drawdown (1Y) Largest decline over 1 year	-75.24%	-61.06%	-14.18%
Max Drawdown (3Y) Largest decline over 3 years	-90.42%	-65.24%	-25.18%
Max Drawdown (5Y) Largest decline over 5 years	—	-76.93%	—
Current Drawdown Current decline from peak	-94.38%	-61.64%	-32.74%
Average Drawdown Average peak-to-trough decline	-70.85%	-38.87%	-31.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.04%	35.57%	+13.47%

Volatility

CDOT.DE vs. ETHE.SW - Volatility Comparison

The current volatility for CoinShares Physical Staked Polkadot EUR ETP (CDOT.DE) is 16.51%, while CoinShares Physical Ethereum (ETH) (ETHE.SW) has a volatility of 17.85%. This indicates that CDOT.DE experiences smaller price fluctuations and is considered to be less risky than ETHE.SW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDOT.DE	ETHE.SW	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.51%	17.85%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	51.83%	60.78%	-8.95%
Volatility (1Y) Calculated over the trailing 1-year period	72.57%	78.83%	-6.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.58%	84.14%	-6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.58%	86.88%	-9.30%

CDOT.DE vs. ETHE.SW - Expense Ratio Comparison

CDOT.DE has a 0.00% expense ratio, which is lower than ETHE.SW's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CDOT.DE vs. ETHE.SW - Dividend Comparison

Neither CDOT.DE nor ETHE.SW has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CDOT.DE and ETHE.SW in my portfolio?

CDOT.DE and ETHE.SW have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CDOT.DE or ETHE.SW?

Both ETFs have the same 0.00% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CDOT.DE or ETHE.SW?

CDOT.DE and ETHE.SW have the same expense ratio: 0.00% per year.