ETH vs. BTCW
ETH (Grayscale Ethereum Staking Mini ETF) and BTCW (Wisdom Tree Bitcoin Fund) are both Cryptocurrency funds. ETH is actively managed, while BTCW is passively managed. Over the past year, ETH returned -45.97% vs -43.69% for BTCW. Their correlation of 0.82 means they have usually moved in the same direction. ETH charges 0.15%/yr vs 0.25%/yr for BTCW.
Performance
ETH vs. BTCW - Performance Comparison
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Returns By Period
In the year-to-date period, ETH achieves a -36.49% return, which is significantly lower than BTCW's -27.24% return.
ETH
- 1D
- 0.11%
- 1M
- 10.14%
- 6M
- -18.78%
- YTD
- -36.49%
- 1Y
- -45.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.19%
BTCW
- 1D
- 1.52%
- 1M
- 3.90%
- 6M
- -18.33%
- YTD
- -27.24%
- 1Y
- -43.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.12M | $1.74M | $1.26M | |
| $31.27M | $33.28M | $46.00M |
ETH vs. BTCW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -36.49% | -10.89% | -4.58% |
BTCW Wisdom Tree Bitcoin Fund | -27.24% | -6.05% | 36.01% |
Correlation
The correlation between ETH and BTCW is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.82 |
The correlation between ETH and BTCW has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
ETH vs. BTCW — Risk / Return Rank
ETH
BTCW
ETH vs. BTCW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and Wisdom Tree Bitcoin Fund (BTCW). 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.
| ETH | BTCW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.84 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.82 | +0.14 |
| Martin ratioReturn relative to average drawdown | -1.02 | -1.26 | +0.24 |
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Drawdowns
ETH vs. BTCW - Drawdown Comparison
The maximum ETH drawdown since its inception was -67.52%, which is greater than BTCW's maximum drawdown of -53.37%. Use the drawdown chart below to compare losses from any high point for ETH and BTCW.
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Drawdown Indicators
| ETH | BTCW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.52% | -53.37% | -14.15% |
Max Drawdown (1Y)Largest decline over 1 year | -67.52% | -53.37% | -14.15% |
Current DrawdownCurrent decline from peak | -60.89% | -49.29% | -11.60% |
Average DrawdownAverage peak-to-trough decline | -35.09% | -18.24% | -16.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.23% | 34.77% | +10.46% |
Volatility
ETH vs. BTCW - Volatility Comparison
Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 12.23% compared to Wisdom Tree Bitcoin Fund (BTCW) at 8.99%. This indicates that ETH's price experiences larger fluctuations and is considered to be riskier than BTCW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETH | BTCW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.23% | 8.99% | +3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 45.64% | 33.70% | +11.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.03% | 44.27% | +22.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.15% | 49.44% | +21.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.15% | 49.44% | +21.71% |
ETH vs. BTCW - Expense Ratio Comparison
ETH has a 0.15% expense ratio, which is lower than BTCW's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ETH vs. BTCW - Dividend Comparison
Neither ETH nor BTCW has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, ETH and BTCW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ETH has higher volatility (12.23%) compared to BTCW (8.99%). In terms of maximum drawdown, ETH dropped -67.52% vs BTCW's -53.37%.
On 1-year performance, BTCW leads with -43.69% vs -45.97% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, BTCW has been the lower-risk option at 8.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTCW has performed better with a -43.69% return vs -45.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETH is cheaper with a 0.15% expense ratio, compared with 0.25% for BTCW.
ETH and BTCW have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Grayscale and WisdomTree. Their fees differ too: 0.15% for ETH and 0.25% for BTCW.
ETH currently has the higher Sharpe Ratio (-0.69 vs -0.99), 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.
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