DFII vs. AETH

Last updated Jul 17, 2026

DFII (FT Vest Bitcoin Strategy & Target Income ETF) and AETH (Bitwise Ethereum Strategy ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, DFII returned -44.75% vs -32.05% for AETH. At a 0.46 correlation, their price movements are largely independent. DFII charges 0.85%/yr vs 0.90%/yr for AETH.

Performance

DFII vs. AETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Bitcoin Strategy & Target Income ETF (DFII) and Bitwise Ethereum Strategy ETF (AETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFII achieves a -26.34% return, which is significantly lower than AETH's -15.44% return.

DFII

• 1D: -1.10%
• 1M: -1.74%
• 6M: -31.57%
• YTD: -26.34%
• 1Y: -44.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AETH

• 1D: -2.59%
• 1M: -6.35%
• 6M: -19.73%
• YTD: -15.44%
• 1Y: -32.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFII vs. AETH - Yearly Performance Comparison

	2026 (YTD)	2025
DFII FT Vest Bitcoin Strategy & Target Income ETF	-26.34%	6.01%
AETH Bitwise Ethereum Strategy ETF	-15.44%	35.38%

Correlation

The correlation between DFII and AETH is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.46

Return for Risk

DFII vs. AETH — Risk / Return Rank

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

DFII

DFII Risk / Return Rank: 1
DFII Sharpe Ratio Rank: 1
DFII Sortino Ratio Rank: 2
DFII Omega Ratio Rank: 2
DFII Calmar Ratio Rank: 2
DFII Martin Ratio Rank: 1

AETH

AETH Risk / Return Rank: 4
AETH Sharpe Ratio Rank: 3
AETH Sortino Ratio Rank: 3
AETH Omega Ratio Rank: 2
AETH Calmar Ratio Rank: 4
AETH 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.

DFII vs. AETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy & Target Income ETF (DFII) and Bitwise Ethereum Strategy ETF (AETH). 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.

	DFII	AETH	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	-0.77	-0.30
Sortino ratio: Return per unit of downside risk	-1.59	-1.04	-0.56
Omega ratio: Gain probability vs. loss probability	0.82	0.84	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.88	-0.63	-0.25
Martin ratio: Return relative to average drawdown	-1.42	-0.93	-0.49

DFII vs. AETH - Sharpe Ratio Comparison

The current DFII Sharpe Ratio is -1.07, which is lower than the AETH Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of DFII and AETH, 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

DFII vs. AETH - Drawdown Comparison

The maximum DFII drawdown since its inception was -51.04%, roughly equal to the maximum AETH drawdown of -51.08%. Use the drawdown chart below to compare losses from any high point for DFII and AETH.

Drawdown Indicators

	DFII	AETH	Difference
Max Drawdown Largest peak-to-trough decline	-51.04%	-51.08%	+0.04%
Max Drawdown (1Y) Largest decline over 1 year	-51.04%	-51.08%	+0.04%
Current Drawdown Current decline from peak	-47.07%	-47.37%	+0.30%
Average Drawdown Average peak-to-trough decline	-21.58%	-25.61%	+4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.61%	34.63%	-3.02%

Volatility

DFII vs. AETH - Volatility Comparison

The current volatility for FT Vest Bitcoin Strategy & Target Income ETF (DFII) is 9.79%, while Bitwise Ethereum Strategy ETF (AETH) has a volatility of 10.54%. This indicates that DFII experiences smaller price fluctuations and is considered to be less risky than AETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFII	AETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.79%	10.54%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	33.57%	26.03%	+7.54%
Volatility (1Y) Calculated over the trailing 1-year period	42.12%	43.36%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.83%	53.90%	-13.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.83%	53.90%	-13.07%

DFII vs. AETH - Expense Ratio Comparison

DFII has a 0.85% expense ratio, which is lower than AETH's 0.90% expense ratio.

Dividends

DFII vs. AETH - Dividend Comparison

DFII's dividend yield for the trailing twelve months is around 27.28%, more than AETH's 2.85% yield.

Position	TTM	2025	2024	2023
AETH Bitwise Ethereum Strategy ETF	2.85%	2.41%	14.73%	6.64%
DFII FT Vest Bitcoin Strategy & Target Income ETF	27.28%	15.51%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFII and AETH in my portfolio?

DFII and AETH have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFII or AETH?

AETH has higher volatility (10.54%) compared to DFII (9.79%). In terms of maximum drawdown, DFII dropped -51.04% vs AETH's -51.08%.

Which ETF is better, DFII or AETH?

On 1-year performance, AETH leads with -32.05% vs -44.75% for DFII. On fees, DFII is cheaper at 0.85% per year. On volatility, DFII has been the lower-risk option at 9.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFII or AETH?

Over the 1-year period, AETH has performed better with a -32.05% return vs -44.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFII or AETH?

DFII is cheaper with a 0.85% expense ratio, compared with 0.90% for AETH.

Which ETF pays a higher dividend yield, DFII or AETH?

DFII has the higher dividend yield at 27.28%, compared with 2.85% for AETH.

What is the main difference between DFII and AETH?

They also come from different issuers: First Trust and Bitwise. Their fees differ too: 0.85% for DFII and 0.90% for AETH.

Which has better risk-adjusted returns?

AETH currently has the higher Sharpe Ratio (-0.77 vs -1.07), 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.