CLNK vs. ETHW
CLNK (Bitwise Chainlink ETF) and ETHW (Bitwise Ethereum ETF) are both Cryptocurrency funds from Bitwise. CLNK is passively managed, while ETHW is actively managed. Their correlation of 0.91 suggests significant overlap in exposure. CLNK charges 0.34%/yr vs 0.20%/yr for ETHW.
Performance
CLNK vs. ETHW - Performance Comparison
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Returns By Period
CLNK
- 1D
- -4.08%
- 1M
- -23.55%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHW
- 1D
- -4.63%
- 1M
- -23.31%
- YTD
- -46.78%
- 6M
- -46.17%
- 1Y
- -35.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLNK vs. ETHW - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
CLNK Bitwise Chainlink ETF | -48.11% |
ETHW Bitwise Ethereum ETF | -50.72% |
Correlation
The correlation between CLNK and ETHW is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026 | 0.91 |
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Return for Risk
CLNK vs. ETHW — Risk / Return Rank
CLNK
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ETHW
CLNK vs. ETHW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Chainlink ETF (CLNK) and Bitwise Ethereum ETF (ETHW). 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.
| CLNK | ETHW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.95 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.52 | — |
| Martin ratioReturn relative to average drawdown | — | -0.87 | — |
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Drawdowns
CLNK vs. ETHW - Drawdown Comparison
The maximum CLNK drawdown since its inception was -48.59%, smaller than the maximum ETHW drawdown of -67.57%. Use the drawdown chart below to compare losses from any high point for CLNK and ETHW.
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Drawdown Indicators
| CLNK | ETHW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.59% | -67.57% | +18.98% |
Max Drawdown (1Y)Largest decline over 1 year | — | -67.57% | — |
Current DrawdownCurrent decline from peak | -48.59% | -67.37% | +18.78% |
Average DrawdownAverage peak-to-trough decline | -33.55% | -33.71% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 40.63% | — |
Volatility
CLNK vs. ETHW - Volatility Comparison
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Volatility by Period
| CLNK | ETHW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 20.17% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 46.57% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 67.90% | 69.10% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.90% | 72.28% | -4.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.90% | 72.28% | -4.38% |
CLNK vs. ETHW - Expense Ratio Comparison
CLNK has a 0.34% expense ratio, which is higher than ETHW's 0.20% expense ratio.
Dividends
CLNK vs. ETHW - Dividend Comparison
Neither CLNK nor ETHW has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, CLNK and ETHW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETHW is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETHW is cheaper with a 0.20% expense ratio, compared with 0.34% for CLNK.
CLNK and ETHW have nearly identical dividend yields, around 0.00%.
Their fees differ too: 0.34% for CLNK and 0.20% for ETHW.
Find the right allocation for CLNK and ETHW
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