ETCO vs. ETHW
Compare and contrast key facts about Grayscale Ethereum Covered Call ETF (ETCO) and Bitwise Ethereum ETF (ETHW).
ETCO and ETHW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETCO is an actively managed fund by Grayscale. It was launched on Sep 3, 2025. ETHW is an actively managed fund by Bitwise. It was launched on Jul 22, 2024.
Performance
ETCO vs. ETHW - Performance Comparison
Loading graphics...
ETCO vs. ETHW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -25.50% | -24.78% |
ETHW Bitwise Ethereum ETF | -28.02% | -30.58% |
Returns By Period
In the year-to-date period, ETCO achieves a -25.50% return, which is significantly higher than ETHW's -28.02% return.
ETCO
- 1D
- 0.47%
- 1M
- 4.37%
- YTD
- -25.50%
- 6M
- -42.64%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHW
- 1D
- 2.07%
- 1M
- 5.01%
- YTD
- -28.02%
- 6M
- -50.72%
- 1Y
- 11.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ETCO vs. ETHW - Expense Ratio Comparison
ETCO has a 0.66% expense ratio, which is higher than ETHW's 0.20% expense ratio.
Return for Risk
ETCO vs. ETHW — Risk / Return Rank
ETCO
ETHW
ETCO vs. ETHW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) and Bitwise Ethereum ETF (ETHW). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading graphics...
Sharpe Ratios by Period
| ETCO | ETHW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.12 | -0.34 | -0.79 |
Correlation
The correlation between ETCO and ETHW is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ETCO vs. ETHW - Dividend Comparison
ETCO's dividend yield for the trailing twelve months is around 93.40%, while ETHW has not paid dividends to shareholders.
| TTM | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | 93.40% | 42.29% |
ETHW Bitwise Ethereum ETF | 0.00% | 0.00% |
Drawdowns
ETCO vs. ETHW - Drawdown Comparison
The maximum ETCO drawdown since its inception was -56.81%, smaller than the maximum ETHW drawdown of -64.04%. Use the drawdown chart below to compare losses from any high point for ETCO and ETHW.
Loading graphics...
Drawdown Indicators
| ETCO | ETHW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.81% | -64.04% | +7.23% |
Max Drawdown (1Y)Largest decline over 1 year | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -48.91% | -55.87% | +6.96% |
Average DrawdownAverage peak-to-trough decline | -31.07% | -30.46% | -0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 30.62% | — |
Volatility
ETCO vs. ETHW - Volatility Comparison
Loading graphics...
Volatility by Period
| ETCO | ETHW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 18.96% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 53.61% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 56.99% | 75.78% | -18.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.99% | 74.63% | -17.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.99% | 74.63% | -17.64% |