EETH vs. WGMI

Last updated Jun 3, 2026

EETH (ProShares Ether Strategy ETF) and WGMI (Valkyrie Bitcoin Miners ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, EETH returned -28.52% vs 294.61% for WGMI. A 0.55 correlation means they provide meaningful diversification when combined. EETH charges 0.95%/yr vs 0.75%/yr for WGMI.

Performance

EETH vs. WGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) and Valkyrie Bitcoin Miners ETF (WGMI). 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 WGMI's 84.78% return.

EETH

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

WGMI

• 1D: -1.11%
• 1M: 40.03%
• YTD: 84.78%
• 6M: 55.52%
• 1Y: 294.61%
• 3Y*: 86.17%
• 5Y*: —
• 10Y*: —

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

EETH vs. WGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-36.80%	-17.19%	33.29%	35.44%
WGMI Valkyrie Bitcoin Miners ETF	84.78%	72.47%	23.54%	89.13%

Correlation

The correlation between EETH and WGMI is 0.50, 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	0.50
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023	0.55

The correlation between EETH and WGMI has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.

EETH vs. WGMI - Sectors Allocation Comparison

Sectors	EETH	WGMI
Financial Services	16.4%	51.3%
Basic Materials	-	-
Communication Services	-	1.2%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.5%
Real Estate	-	-
Technology	-	45.9%
Utilities	-	1.2%

Return for Risk

EETH vs. WGMI — 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

WGMI

WGMI Risk / Return Rank: 79
WGMI Sharpe Ratio Rank: 95
WGMI Sortino Ratio Rank: 76
WGMI Omega Ratio Rank: 69
WGMI Calmar Ratio Rank: 91
WGMI Martin Ratio Rank: 64

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. WGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) and Valkyrie Bitcoin Miners ETF (WGMI). 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	WGMI	Difference
Sharpe ratio Return per unit of total volatility	-0.42	3.91	-4.32
Sortino ratio Return per unit of downside risk	-0.22	3.49	-3.70
Omega ratio Gain probability vs. loss probability	0.98	1.42	-0.45
Calmar ratio Return relative to maximum drawdown	-0.47	5.83	-6.30
Martin ratio Return relative to average drawdown	-0.77	11.81	-12.58
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. WGMI - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.42, which is lower than the WGMI Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of EETH and WGMI, 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	WGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	3.91	-4.32
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.31	-0.34

Drawdowns

EETH vs. WGMI - Drawdown Comparison

The maximum EETH drawdown since its inception was -66.86%, smaller than the maximum WGMI drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for EETH and WGMI.

Drawdown Indicators

	EETH	WGMI	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-85.76%	+18.90%
Max Drawdown (1Y) Largest decline over 1 year	-62.71%	-50.94%	-11.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-62.79%	—
Current Drawdown Current decline from peak	-62.06%	-1.11%	-60.95%
Average Drawdown Average peak-to-trough decline	-29.40%	-42.90%	+13.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.55%	25.08%	+13.47%

Volatility

EETH vs. WGMI - Volatility Comparison

The current volatility for ProShares Ether Strategy ETF (EETH) is 9.31%, while Valkyrie Bitcoin Miners ETF (WGMI) has a volatility of 20.10%. This indicates that EETH experiences smaller price fluctuations and is considered to be less risky than WGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EETH	WGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	20.10%	-10.79%
Volatility (6M) Calculated over the trailing 6-month period	46.84%	55.64%	-8.80%
Volatility (1Y) Calculated over the trailing 1-year period	68.60%	76.03%	-7.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.89%	81.53%	-12.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.89%	81.53%	-12.64%

EETH vs. WGMI - Expense Ratio Comparison

EETH has a 0.95% expense ratio, which is higher than WGMI's 0.75% expense ratio.

Dividends

EETH vs. WGMI - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 84.06%, while WGMI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
EETH ProShares Ether Strategy ETF	84.06%	56.98%	10.82%	0.52%
WGMI Valkyrie Bitcoin Miners ETF	0.00%	0.00%	0.22%	0.31%

Frequently Asked Questions

Can I hold both EETH and WGMI in my portfolio?

EETH and WGMI have a correlation of 0.50, 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 WGMI?

WGMI has higher volatility (20.10%) compared to EETH (9.31%). In terms of maximum drawdown, EETH dropped -66.86% vs WGMI's -85.76%.

Which ETF is better, EETH or WGMI?

On 1-year performance, WGMI leads with 294.61% vs -28.52% for EETH. On fees, WGMI is cheaper at 0.75% per year. On volatility, EETH has been the lower-risk option at 9.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or WGMI?

Over the 1-year period, WGMI has performed better with a 294.61% 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 WGMI?

WGMI is cheaper with a 0.75% expense ratio, compared with 0.95% for EETH.

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

EETH has the higher dividend yield at 84.06%, compared with 0.00% for WGMI.

What is the main difference between EETH and WGMI?

They also come from different issuers: ProShares and Valkyrie. Their fees differ too: 0.95% for EETH and 0.75% for WGMI.

Which has better risk-adjusted returns?

WGMI currently has the higher Sharpe Ratio (3.91 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.