DFII vs. ETH

Last updated Jun 24, 2026

DFII (FT Vest Bitcoin Strategy & Target Income ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, DFII returned -38.89% vs -27.60% for ETH. Their correlation of 0.85 suggests significant overlap in exposure. DFII charges 0.85%/yr vs 0.15%/yr for ETH.

Performance

DFII vs. ETH - Performance Comparison

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

Returns By Period

In the year-to-date period, DFII achieves a -28.19% return, which is significantly higher than ETH's -43.73% return.

DFII

• 1D: -2.94%
• 1M: -17.11%
• YTD: -28.19%
• 6M: -28.07%
• 1Y: -38.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ETH

• 1D: -4.13%
• 1M: -19.44%
• YTD: -43.73%
• 6M: -43.65%
• 1Y: -27.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFII vs. ETH - Yearly Performance Comparison

	2026 (YTD)	2025
DFII FT Vest Bitcoin Strategy & Target Income ETF	-28.19%	6.01%
ETH Grayscale Ethereum Staking Mini ETF	-43.73%	55.72%

Correlation

The correlation between DFII and ETH is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.85

The correlation between DFII and ETH has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

DFII vs. ETH — Risk / Return Rank

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

DFII

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

ETH

ETH Risk / Return Rank: 6
ETH Sharpe Ratio Rank: 6
ETH Sortino Ratio Rank: 6
ETH Omega Ratio Rank: 6
ETH Calmar Ratio Rank: 5
ETH Martin Ratio Rank: 6

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. ETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy & Target Income ETF (DFII) and Grayscale Ethereum Staking Mini ETF (ETH). 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	ETH	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	-0.40	-0.53
Sortino ratio: Return per unit of downside risk	-1.29	-0.18	-1.11
Omega ratio: Gain probability vs. loss probability	0.85	0.98	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.78	-0.41	-0.37
Martin ratio: Return relative to average drawdown	-1.34	-0.69	-0.65

DFII vs. ETH - Sharpe Ratio Comparison

The current DFII Sharpe Ratio is -0.93, which is lower than the ETH Sharpe Ratio of -0.40. The chart below compares the historical Sharpe Ratios of DFII and ETH, 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. ETH - Drawdown Comparison

The maximum DFII drawdown since its inception was -50.13%, smaller than the maximum ETH drawdown of -67.19%. Use the drawdown chart below to compare losses from any high point for DFII and ETH.

Drawdown Indicators

	DFII	ETH	Difference
Max Drawdown Largest peak-to-trough decline	-50.13%	-67.19%	+17.06%
Max Drawdown (1Y) Largest decline over 1 year	-50.13%	-67.19%	+17.06%
Current Drawdown Current decline from peak	-48.40%	-65.34%	+16.94%
Average Drawdown Average peak-to-trough decline	-20.16%	-33.50%	+13.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.13%	40.15%	-11.02%

Volatility

DFII vs. ETH - Volatility Comparison

The current volatility for FT Vest Bitcoin Strategy & Target Income ETF (DFII) is 12.48%, while Grayscale Ethereum Staking Mini ETF (ETH) has a volatility of 19.75%. This indicates that DFII experiences smaller price fluctuations and is considered to be less risky than ETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFII	ETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.48%	19.75%	-7.27%
Volatility (6M) Calculated over the trailing 6-month period	33.37%	46.93%	-13.56%
Volatility (1Y) Calculated over the trailing 1-year period	41.94%	69.05%	-27.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.20%	72.37%	-31.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.20%	72.37%	-31.17%

DFII vs. ETH - Expense Ratio Comparison

DFII has a 0.85% expense ratio, which is higher than ETH's 0.15% expense ratio.

Dividends

DFII vs. ETH - Dividend Comparison

DFII's dividend yield for the trailing twelve months is around 29.19%, while ETH has not paid dividends to shareholders.

Position	TTM	2025
DFII FT Vest Bitcoin Strategy & Target Income ETF	29.19%	15.51%
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFII and ETH in my portfolio?

DFII and ETH have a correlation of 0.88, 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 ETH?

ETH has higher volatility (19.75%) compared to DFII (12.48%). In terms of maximum drawdown, DFII dropped -50.13% vs ETH's -67.19%.

Which ETF is better, DFII or ETH?

On 1-year performance, ETH leads with -27.60% vs -38.89% for DFII. On fees, ETH is cheaper at 0.15% per year. On volatility, DFII has been the lower-risk option at 12.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFII or ETH?

Over the 1-year period, ETH has performed better with a -27.60% return vs -38.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFII or ETH?

ETH is cheaper with a 0.15% expense ratio, compared with 0.85% for DFII.

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

DFII has the higher dividend yield at 29.19%, compared with 0.00% for ETH.

What is the main difference between DFII and ETH?

They also come from different issuers: First Trust and Grayscale. Their fees differ too: 0.85% for DFII and 0.15% for ETH.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.40 vs -0.93), 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.