EETH vs. AETH

Last updated Jun 3, 2026

EETH (ProShares Ether Strategy ETF) and AETH (Bitwise Ethereum Strategy ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, EETH returned -28.52% vs -12.96% for AETH. A 0.79 correlation means they provide meaningful diversification when combined. EETH charges 0.95%/yr vs 0.90%/yr for AETH.

Performance

EETH vs. AETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) 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, EETH achieves a -36.80% return, which is significantly lower than AETH's -9.78% return.

EETH

• 1D: -4.54%
• 1M: -17.53%
• YTD: -36.80%
• 6M: -37.26%
• 1Y: -28.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AETH

• 1D: 0.02%
• 1M: -4.95%
• YTD: -9.78%
• 6M: -15.29%
• 1Y: -12.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EETH vs. AETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-36.80%	-17.19%	33.29%	35.44%
AETH Bitwise Ethereum Strategy ETF	-9.78%	-0.11%	31.76%	37.65%

Correlation

The correlation between EETH and AETH is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023	0.79

The correlation between EETH and AETH shifts across timeframes, from 0.63 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EETH vs. AETH — Risk / Return Rank

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

EETH

EETH Risk / Return Rank: 5
EETH Sharpe Ratio Rank: 5
EETH Sortino Ratio Rank: 6
EETH Omega Ratio Rank: 6
EETH Calmar Ratio Rank: 4
EETH Martin Ratio Rank: 5

AETH

AETH Risk / Return Rank: 6
AETH Sharpe Ratio Rank: 6
AETH Sortino Ratio Rank: 7
AETH Omega Ratio Rank: 6
AETH Calmar Ratio Rank: 6
AETH 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.

EETH vs. AETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) 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.

	EETH	AETH	Difference
Sharpe ratio Return per unit of total volatility	-0.42	-0.29	-0.13
Sortino ratio Return per unit of downside risk	-0.22	-0.13	-0.08
Omega ratio Gain probability vs. loss probability	0.98	0.98	0.00
Calmar ratio Return relative to maximum drawdown	-0.47	-0.33	-0.14
Martin ratio Return relative to average drawdown	-0.77	-0.47	-0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EETH vs. AETH - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.42, which is lower than the AETH Sharpe Ratio of -0.29. The chart below compares the historical Sharpe Ratios of EETH 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.

Sharpe Ratios by Period

	EETH	AETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	-0.29	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.37	-0.40

Drawdowns

EETH vs. AETH - Drawdown Comparison

The maximum EETH drawdown since its inception was -66.86%, which is greater than AETH's maximum drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for EETH and AETH.

Drawdown Indicators

	EETH	AETH	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-47.78%	-19.08%
Max Drawdown (1Y) Largest decline over 1 year	-62.71%	-43.98%	-18.73%
Current Drawdown Current decline from peak	-62.06%	-43.85%	-18.21%
Average Drawdown Average peak-to-trough decline	-29.40%	-24.62%	-4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.55%	30.74%	+7.81%

Volatility

EETH vs. AETH - Volatility Comparison

ProShares Ether Strategy ETF (EETH) has a higher volatility of 9.31% compared to Bitwise Ethereum Strategy ETF (AETH) at 4.02%. This indicates that EETH's price experiences larger fluctuations and is considered to be riskier than AETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EETH	AETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	4.02%	+5.29%
Volatility (6M) Calculated over the trailing 6-month period	46.84%	27.18%	+19.66%
Volatility (1Y) Calculated over the trailing 1-year period	68.60%	45.07%	+23.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.89%	54.73%	+14.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.89%	54.73%	+14.16%

EETH vs. AETH - Expense Ratio Comparison

EETH has a 0.95% expense ratio, which is higher than AETH's 0.90% expense ratio.

Dividends

EETH vs. AETH - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 84.06%, more than AETH's 2.67% yield.

Position	TTM	2025	2024	2023
AETH Bitwise Ethereum Strategy ETF	2.67%	2.41%	14.73%	6.64%
EETH ProShares Ether Strategy ETF	84.06%	56.98%	10.82%	0.52%

Frequently Asked Questions

Can I hold both EETH and AETH in my portfolio?

EETH and AETH have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EETH or AETH?

EETH has higher volatility (9.31%) compared to AETH (4.02%). In terms of maximum drawdown, EETH dropped -66.86% vs AETH's -47.78%.

Which ETF is better, EETH or AETH?

On 1-year performance, AETH leads with -12.96% vs -28.52% for EETH. On fees, AETH is cheaper at 0.90% per year. On volatility, AETH has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or AETH?

Over the 1-year period, AETH has performed better with a -12.96% return vs -28.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or AETH?

AETH is cheaper with a 0.90% expense ratio, compared with 0.95% for EETH.

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

EETH has the higher dividend yield at 84.06%, compared with 2.67% for AETH.

What is the main difference between EETH and AETH?

They also come from different issuers: ProShares and Bitwise. Their fees differ too: 0.95% for EETH and 0.90% for AETH.

Which has better risk-adjusted returns?

AETH currently has the higher Sharpe Ratio (-0.29 vs -0.42), 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.