CLNK vs. IETH

Last updated Jul 15, 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 0.90 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: 5.02%
• 1M: 5.24%
• 6M: -40.71%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IETH

• 1D: 5.10%
• 1M: 11.78%
• 6M: -35.99%
• YTD: -31.06%
• 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	-40.71%
IETH Bitwise Ethereum Option Income Strategy ETF	-35.99%

Correlation

The correlation between CLNK and IETH is 0.90, 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	0.90

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.

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.

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

Drawdowns

CLNK vs. IETH - Drawdown Comparison

The maximum CLNK drawdown since its inception was -49.00%, smaller than the maximum IETH drawdown of -59.76%. 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	-49.00%	-59.76%	+10.76%
Current Drawdown Current decline from peak	-41.26%	-52.34%	+11.08%
Average Drawdown Average peak-to-trough decline	-34.82%	-39.60%	+4.78%

Volatility

Volatility by Period

	CLNK	IETH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	66.14%	59.72%	+6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.14%	59.72%	+6.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.14%	59.72%	+6.42%

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 45.89%.

Position	TTM	2025
CLNK Bitwise Chainlink ETF	0.00%	0.00%
IETH Bitwise Ethereum Option Income Strategy ETF	45.89%	18.26%

Frequently Asked Questions

Can I hold both CLNK and IETH in my portfolio?

With a correlation of 0.90, CLNK and IETH 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.

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 45.89%, 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.