ETH vs. YBTC

Last updated Jun 5, 2026

ETH (Grayscale Ethereum Staking Mini ETF) and YBTC (Roundhill Bitcoin Covered Call Strategy ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, ETH returned -31.82% vs -36.84% for YBTC. A 0.76 correlation means they provide meaningful diversification when combined. ETH charges 0.15%/yr vs 0.95%/yr for YBTC.

Performance

ETH vs. YBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Ethereum Staking Mini ETF (ETH) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETH achieves a -39.91% return, which is significantly lower than YBTC's -25.51% return.

ETH

• 1D: -1.58%
• 1M: -25.17%
• YTD: -39.91%
• 6M: -43.14%
• 1Y: -31.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YBTC

• 1D: -2.77%
• 1M: -19.76%
• YTD: -25.51%
• 6M: -28.64%
• 1Y: -36.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETH vs. YBTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETH Grayscale Ethereum Staking Mini ETF	-39.91%	-10.89%	-3.70%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-25.51%	-4.23%	22.83%

Correlation

The correlation between ETH and YBTC is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.76

The correlation between ETH and YBTC has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

ETH vs. YBTC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETH

ETH Risk / Return Rank: 5
ETH Sharpe Ratio Rank: 5
ETH Sortino Ratio Rank: 6
ETH Omega Ratio Rank: 6
ETH Calmar Ratio Rank: 5
ETH Martin Ratio Rank: 5

YBTC

YBTC Risk / Return Rank: 2
YBTC Sharpe Ratio Rank: 2
YBTC Sortino Ratio Rank: 2
YBTC Omega Ratio Rank: 2
YBTC Calmar Ratio Rank: 2
YBTC Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETH vs. YBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). 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	YBTC	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	-0.94	+0.47
Sortino ratio: Return per unit of downside risk	-0.32	-1.27	+0.95
Omega ratio: Gain probability vs. loss probability	0.96	0.84	+0.12
Calmar ratio: Return relative to maximum drawdown	-0.51	-0.78	+0.28
Martin ratio: Return relative to average drawdown	-0.85	-1.43	+0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETH vs. YBTC - Sharpe Ratio Comparison

The current ETH Sharpe Ratio is -0.47, which is higher than the YBTC Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of ETH and YBTC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETH	YBTC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	-0.94	+0.47
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.13	-0.55

Drawdowns

ETH vs. YBTC - Drawdown Comparison

The maximum ETH drawdown since its inception was -64.01%, which is greater than YBTC's maximum drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for ETH and YBTC.

Drawdown Indicators

	ETH	YBTC	Difference
Max Drawdown Largest peak-to-trough decline	-64.01%	-47.09%	-16.92%
Max Drawdown (1Y) Largest decline over 1 year	-62.99%	-47.09%	-15.90%
Current Drawdown Current decline from peak	-62.99%	-45.60%	-17.39%
Average Drawdown Average peak-to-trough decline	-32.64%	-12.94%	-19.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.71%	25.85%	+11.86%

Volatility

ETH vs. YBTC - Volatility Comparison

Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 9.68% compared to Roundhill Bitcoin Covered Call Strategy ETF (YBTC) at 8.73%. This indicates that ETH's price experiences larger fluctuations and is considered to be riskier than YBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETH	YBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.68%	8.73%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	45.30%	31.30%	+14.00%
Volatility (1Y) Calculated over the trailing 1-year period	68.25%	39.25%	+29.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.19%	40.82%	+31.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.19%	40.82%	+31.37%

ETH vs. YBTC - Expense Ratio Comparison

ETH has a 0.15% expense ratio, which is lower than YBTC's 0.95% expense ratio.

Dividends

ETH vs. YBTC - Dividend Comparison

ETH has not paid dividends to shareholders, while YBTC's dividend yield for the trailing twelve months is around 90.64%.

Position	TTM	2025	2024
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%	0.00%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	90.64%	76.04%	44.53%

Frequently Asked Questions

Can I hold both ETH and YBTC in my portfolio?

ETH and YBTC have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETH or YBTC?

ETH has higher volatility (9.68%) compared to YBTC (8.73%). In terms of maximum drawdown, ETH dropped -64.01% vs YBTC's -47.09%.

Which ETF is better, ETH or YBTC?

On 1-year performance, ETH leads with -31.82% vs -36.84% for YBTC. On fees, ETH is cheaper at 0.15% per year. On volatility, YBTC has been the lower-risk option at 8.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETH or YBTC?

Over the 1-year period, ETH has performed better with a -31.82% return vs -36.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETH or YBTC?

ETH is cheaper with a 0.15% expense ratio, compared with 0.95% for YBTC.

Which ETF pays a higher dividend yield, ETH or YBTC?

YBTC has the higher dividend yield at 90.64%, compared with 0.00% for ETH.

What is the main difference between ETH and YBTC?

They also come from different issuers: Grayscale and Roundhill. Their fees differ too: 0.15% for ETH and 0.95% for YBTC.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.47 vs -0.94), 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.