CLNK vs. IETH

Last updated Jun 4, 2026

CLNK (Bitwise Chainlink ETF) and IETH (Bitwise Ethereum Option Income Strategy ETF) are both exchange-traded funds - CLNK is a Cryptocurrency fund tracking the Chainlink (LINK) spot price, while IETH is a Derivative Income fund actively managed by Bitwise. CLNK is passively managed, while IETH is actively managed. Their correlation of 0.89 suggests significant overlap in exposure. CLNK charges 0.34%/yr vs 0.97%/yr for IETH.

Performance

CLNK vs. IETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Chainlink ETF (CLNK) and Bitwise Ethereum Option Income Strategy ETF (IETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLNK

• 1D: -4.18%
• 1M: -12.86%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IETH

• 1D: -5.08%
• 1M: -18.82%
• YTD: -33.82%
• 6M: -35.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLNK vs. IETH - Yearly Performance Comparison

	2026 (YTD)
CLNK Bitwise Chainlink ETF	-41.92%
IETH Bitwise Ethereum Option Income Strategy ETF	-40.20%

Correlation

The correlation between CLNK and IETH is 0.89, 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 15, 2026	0.89

Return for Risk

CLNK vs. IETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Chainlink ETF (CLNK) and Bitwise Ethereum Option Income Strategy ETF (IETH). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CLNK	IETH	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.14	-1.13	0.00

Drawdowns

CLNK vs. IETH - Drawdown Comparison

The maximum CLNK drawdown since its inception was -43.56%, smaller than the maximum IETH drawdown of -55.94%. Use the drawdown chart below to compare losses from any high point for CLNK and IETH.

Drawdown Indicators

	CLNK	IETH	Difference
Max Drawdown Largest peak-to-trough decline	-43.56%	-55.94%	+12.38%
Current Drawdown Current decline from peak	-41.92%	-54.25%	+12.33%
Average Drawdown Average peak-to-trough decline	-32.34%	-37.10%	+4.76%

Volatility

Volatility by Period

	CLNK	IETH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	67.16%	59.79%	+7.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.16%	59.79%	+7.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.16%	59.79%	+7.37%

CLNK vs. IETH - Expense Ratio Comparison

CLNK has a 0.34% expense ratio, which is lower than IETH's 0.97% expense ratio.

Dividends

CLNK vs. IETH - Dividend Comparison

CLNK has not paid dividends to shareholders, while IETH's dividend yield for the trailing twelve months is around 46.99%.

Position	TTM	2025
CLNK Bitwise Chainlink ETF	0.00%	0.00%
IETH Bitwise Ethereum Option Income Strategy ETF	46.99%	18.26%

Frequently Asked Questions

Can I hold both CLNK and IETH in my portfolio?

CLNK and IETH have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLNK or IETH?

On fees, CLNK is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLNK or IETH?

CLNK is cheaper with a 0.34% expense ratio, compared with 0.97% for IETH.

Which ETF pays a higher dividend yield, CLNK or IETH?

IETH has the higher dividend yield at 46.99%, compared with 0.00% for CLNK.

What is the main difference between CLNK and IETH?

CLNK is categorized as Cryptocurrency, while IETH is Derivative Income. Their fees differ too: 0.34% for CLNK and 0.97% for IETH.