ETH vs. CEPI
ETH (Grayscale Ethereum Staking Mini ETF) and CEPI (REX Crypto Equity Premium Income ETF) are both exchange-traded funds - ETH is a Cryptocurrency fund actively managed by Grayscale, while CEPI is a Derivative Income fund actively managed by REX. Both are actively managed. Over the past year, ETH returned -45.97% vs 23.11% for CEPI. Their 0.66 correlation means they have sometimes moved together and sometimes differently. ETH charges 0.15%/yr vs 0.85%/yr for CEPI.
Performance
ETH vs. CEPI - 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 CEPI's 17.46% return.
ETH
- 1D
- 0.11%
- 1M
- 10.14%
- 6M
- -18.78%
- YTD
- -36.49%
- 1Y
- -45.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.19%
CEPI
- 1D
- 2.01%
- 1M
- 0.84%
- 6M
- 14.49%
- YTD
- 17.46%
- 1Y
- 23.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.23M | $1.28M | $1.61M | |
| $31.27M | $33.28M | $46.00M |
ETH vs. CEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -36.49% | -10.89% | -7.55% |
CEPI REX Crypto Equity Premium Income ETF | 17.46% | 10.75% | -7.02% |
Correlation
The correlation between ETH and CEPI is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024 | 0.66 |
The correlation between ETH and CEPI has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.
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Return for Risk
ETH vs. CEPI — Risk / Return Rank
ETH
CEPI
ETH vs. CEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and REX Crypto Equity Premium Income ETF (CEPI). 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 | CEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.16 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 1.03 | -1.72 |
| Martin ratioReturn relative to average drawdown | -1.02 | 2.40 | -3.42 |
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Drawdowns
ETH vs. CEPI - Drawdown Comparison
The maximum ETH drawdown since its inception was -67.52%, which is greater than CEPI's maximum drawdown of -29.48%. Use the drawdown chart below to compare losses from any high point for ETH and CEPI.
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Drawdown Indicators
| ETH | CEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.52% | -29.48% | -38.04% |
Max Drawdown (1Y)Largest decline over 1 year | -67.52% | -22.47% | -45.05% |
Current DrawdownCurrent decline from peak | -60.89% | -5.73% | -55.16% |
Average DrawdownAverage peak-to-trough decline | -35.09% | -8.23% | -26.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.23% | 9.65% | +35.58% |
Volatility
ETH vs. CEPI - Volatility Comparison
Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 12.23% compared to REX Crypto Equity Premium Income ETF (CEPI) at 11.47%. This indicates that ETH's price experiences larger fluctuations and is considered to be riskier than CEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETH | CEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.23% | 11.47% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 45.64% | 23.71% | +21.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.03% | 29.38% | +37.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.15% | 31.91% | +39.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.15% | 31.91% | +39.24% |
ETH vs. CEPI - Expense Ratio Comparison
ETH has a 0.15% expense ratio, which is lower than CEPI's 0.85% expense ratio.
Dividends
ETH vs. CEPI - Dividend Comparison
ETH has not paid dividends to shareholders, while CEPI's dividend yield for the trailing twelve months is around 44.70%.
| Position | TTM | 2025 |
|---|---|---|
CEPI REX Crypto Equity Premium Income ETF | 44.70% | 50.78% |
ETH Grayscale Ethereum Staking Mini ETF | 0.00% | 0.00% |
Frequently Asked Questions
ETH and CEPI have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETH has higher volatility (12.23%) compared to CEPI (11.47%). In terms of maximum drawdown, ETH dropped -67.52% vs CEPI's -29.48%.
On 1-year performance, CEPI leads with 23.11% vs -45.97% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, CEPI has been the lower-risk option at 11.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CEPI has performed better with a 23.11% 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 0.85% for CEPI.
CEPI has the higher dividend yield at 44.70%, compared with 0.00% for ETH.
ETH is categorized as Cryptocurrency, while CEPI is Derivative Income. They also come from different issuers: Grayscale and REX. Their fees differ too: 0.15% for ETH and 0.85% for CEPI.
CEPI currently has the higher Sharpe Ratio (0.79 vs -0.69), 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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