ETH vs. ETCO
ETH (Grayscale Ethereum Staking Mini ETF) and ETCO (Grayscale Ethereum Covered Call ETF) are both Cryptocurrency funds from Grayscale. Both are actively managed. With a 0.95 correlation, they move nearly in lockstep. ETH charges 0.15%/yr vs 0.66%/yr for ETCO.
Performance
ETH vs. ETCO - Performance Comparison
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Returns By Period
In the year-to-date period, ETH achieves a -38.95% return, which is significantly lower than ETCO's -33.38% return.
ETH
- 1D
- -5.52%
- 1M
- -23.42%
- YTD
- -38.95%
- 6M
- -42.17%
- 1Y
- -30.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETCO
- 1D
- -5.43%
- 1M
- -20.32%
- YTD
- -33.38%
- 6M
- -34.60%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH vs. ETCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -38.95% | -30.29% |
ETCO Grayscale Ethereum Covered Call ETF | -33.38% | -24.78% |
Correlation
The correlation between ETH and ETCO is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025 | 0.95 |
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Return for Risk
ETH vs. ETCO — Risk / Return Rank
ETH
ETCO
ETH vs. ETCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and Grayscale Ethereum Covered Call ETF (ETCO). 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.
| ETH | ETCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.97 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | — | — |
| Martin ratioReturn relative to average drawdown | -0.82 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETH | ETCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | -1.16 | +0.75 |
Drawdowns
ETH vs. ETCO - Drawdown Comparison
The maximum ETH drawdown since its inception was -64.01%, which is greater than ETCO's maximum drawdown of -56.81%. Use the drawdown chart below to compare losses from any high point for ETH and ETCO.
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Drawdown Indicators
| ETH | ETCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.01% | -56.81% | -7.20% |
Max Drawdown (1Y)Largest decline over 1 year | -62.40% | — | — |
Current DrawdownCurrent decline from peak | -62.40% | -54.32% | -8.08% |
Average DrawdownAverage peak-to-trough decline | -32.58% | -34.43% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.50% | — | — |
Volatility
ETH vs. ETCO - Volatility Comparison
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Volatility by Period
| ETH | ETCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.90% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 46.02% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 68.34% | 52.49% | +15.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.26% | 52.49% | +19.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.26% | 52.49% | +19.77% |
ETH vs. ETCO - Expense Ratio Comparison
ETH has a 0.15% expense ratio, which is lower than ETCO's 0.66% expense ratio.
Dividends
ETH vs. ETCO - Dividend Comparison
ETH has not paid dividends to shareholders, while ETCO's dividend yield for the trailing twelve months is around 127.41%.
| Position | TTM | 2025 |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | 127.41% | 42.29% |
ETH Grayscale Ethereum Staking Mini ETF | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, ETH and ETCO 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.
On fees, ETH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETH is cheaper with a 0.15% expense ratio, compared with 0.66% for ETCO.
ETCO has the higher dividend yield at 127.41%, compared with 0.00% for ETH.
Their fees differ too: 0.15% for ETH and 0.66% for ETCO.
Find the right allocation for ETH and ETCO
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