ETH vs. USFR
ETH (Grayscale Ethereum Staking Mini ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - ETH is a Cryptocurrency fund actively managed by Grayscale, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. ETH is actively managed, while USFR is passively managed. Over the past year, ETH returned -45.97% vs 3.97% for USFR. Their 0.01 correlation means their historical movements had little consistent relationship. Both charge a 0.15% expense ratio.
Performance
ETH vs. USFR - 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 USFR's 2.29% return.
ETH
- 1D
- 0.11%
- 1M
- 10.14%
- 6M
- -18.78%
- YTD
- -36.49%
- 1Y
- -45.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.19%
USFR
- 1D
- 0.02%
- 1M
- 0.36%
- 6M
- 1.91%
- YTD
- 2.29%
- 1Y
- 3.97%
- 3Y*
- 4.68%
- 5Y*
- 3.81%
- 10Y*
- 2.48%
- ALL TIME*
- 1.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $31.27M | $33.28M | $46.00M | |
| $329.70M | $258.22M | $246.25M |
ETH vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -36.49% | -10.89% | -4.58% |
USFR WisdomTree Floating Rate Treasury Fund | 2.29% | 4.23% | 2.23% |
Correlation
The correlation between ETH and USFR is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.01 |
The correlation between ETH and USFR shifts across timeframes, from -0.11 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ETH vs. USFR — Risk / Return Rank
ETH
USFR
ETH vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.33 | ||
| Sortino ratioReturn per unit of downside risk | -52.43 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 14.07 | -13.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 200.37 | -201.05 |
| Martin ratioReturn relative to average drawdown | -1.02 | 800.41 | -801.43 |
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Drawdowns
ETH vs. USFR - Drawdown Comparison
The maximum ETH drawdown since its inception was -67.52%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for ETH and USFR.
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Drawdown Indicators
| ETH | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.52% | -1.36% | -66.16% |
Max Drawdown (1Y)Largest decline over 1 year | -67.52% | -0.02% | -67.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -60.89% | 0.00% | -60.89% |
Average DrawdownAverage peak-to-trough decline | -35.09% | -0.15% | -34.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.23% | 0.00% | +45.23% |
Volatility
ETH vs. USFR - Volatility Comparison
Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 12.23% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that ETH's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETH | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.23% | 0.09% | +12.14% |
Volatility (6M)Calculated over the trailing 6-month period | 45.64% | 0.20% | +45.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.03% | 0.27% | +66.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.15% | 0.39% | +70.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.15% | 0.76% | +70.39% |
ETH vs. USFR - Expense Ratio Comparison
Both ETH and USFR have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ETH vs. USFR - Dividend Comparison
ETH has not paid dividends to shareholders, while USFR's dividend yield for the trailing twelve months is around 3.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.79% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
ETH and USFR have a correlation of -0.11, 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 USFR (0.09%). In terms of maximum drawdown, ETH dropped -67.52% vs USFR's -1.36%.
On 1-year performance, USFR leads with 3.97% vs -45.97% for ETH. Both ETFs have the same 0.15% expense ratio. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USFR has performed better with a 3.97% return vs -45.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETH and USFR have the same expense ratio: 0.15% per year.
USFR has the higher dividend yield at 3.79%, compared with 0.00% for ETH.
ETH is categorized as Cryptocurrency, while USFR is Government Bonds. They also come from different issuers: Grayscale and WisdomTree.
USFR currently has the higher Sharpe Ratio (14.64 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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