ETHA.DE vs. ^GSPC

Last updated Jun 27, 2026

ETHA.DE (21Shares Ethereum Staking ETP) is Cryptocurrency fund actively managed by 21Shares, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, ETHA.DE returned -7.20%/yr vs 17.45%/yr for ^GSPC. At a 0.27 correlation, their price movements are largely independent.

Performance

ETHA.DE vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in 21Shares Ethereum Staking ETP (ETHA.DE) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ETHA.DE is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ETHA.DE achieves a -45.84% return, which is significantly lower than ^GSPC's 11.08% return.

ETHA.DE

• 1D: 0.00%
• 1M: -23.09%
• YTD: -45.84%
• 6M: -45.24%
• 1Y: -33.71%
• 3Y*: -7.20%
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.00%
• 1M: 0.10%
• YTD: 11.08%
• 6M: 9.96%
• 1Y: 23.31%
• 3Y*: 17.45%
• 5Y*: 12.53%
• 10Y*: 13.39%

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

ETHA.DE vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETHA.DE 21Shares Ethereum Staking ETP	-45.84%	-22.34%	52.23%	90.31%	-66.47%	-0.42%
^GSPC S&P 500 Index	10.85%	2.58%	31.45%	20.51%	-14.45%	9.81%

Correlation

The correlation between ETHA.DE and ^GSPC is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Sep 7, 2021	0.27

Return for Risk

ETHA.DE vs. ^GSPC — Risk / Return Rank

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

ETHA.DE

ETHA.DE Risk / Return Rank: 5
ETHA.DE Sharpe Ratio Rank: 5
ETHA.DE Sortino Ratio Rank: 5
ETHA.DE Omega Ratio Rank: 5
ETHA.DE Calmar Ratio Rank: 5
ETHA.DE Martin Ratio Rank: 6

^GSPC

^GSPC Risk / Return Rank: 62
^GSPC Sharpe Ratio Rank: 60
^GSPC Sortino Ratio Rank: 58
^GSPC Omega Ratio Rank: 65
^GSPC Calmar Ratio Rank: 55
^GSPC Martin Ratio Rank: 70

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.

ETHA.DE vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum Staking ETP (ETHA.DE) and S&P 500 Index (^GSPC). 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.

	ETHA.DE	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	1.86	-2.43
Sortino ratio: Return per unit of downside risk	-0.57	2.43	-3.00
Omega ratio: Gain probability vs. loss probability	0.94	1.34	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.51	3.10	-3.61
Martin ratio: Return relative to average drawdown	-0.86	11.44	-12.30

ETHA.DE vs. ^GSPC - Sharpe Ratio Comparison

The current ETHA.DE Sharpe Ratio is -0.57, which is lower than the ^GSPC Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of ETHA.DE and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETHA.DE vs. ^GSPC - Drawdown Comparison

The maximum ETHA.DE drawdown since its inception was -76.82%, which is greater than ^GSPC's maximum drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for ETHA.DE and ^GSPC.

Drawdown Indicators

	ETHA.DE	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-76.82%	-51.62%	-25.20%
Max Drawdown (1Y) Largest decline over 1 year	-65.69%	-7.57%	-58.12%
Max Drawdown (3Y) Largest decline over 3 years	-65.69%	-23.99%	-41.70%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.99%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.42%	—
Current Drawdown Current decline from peak	-68.10%	-1.08%	-67.02%
Average Drawdown Average peak-to-trough decline	-45.64%	-9.08%	-36.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.34%	2.04%	+37.30%

Volatility

ETHA.DE vs. ^GSPC - Volatility Comparison

21Shares Ethereum Staking ETP (ETHA.DE) has a higher volatility of 18.35% compared to S&P 500 Index (^GSPC) at 3.97%. This indicates that ETHA.DE's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHA.DE	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.35%	3.97%	+14.38%
Volatility (6M) Calculated over the trailing 6-month period	40.87%	9.16%	+31.71%
Volatility (1Y) Calculated over the trailing 1-year period	59.46%	12.59%	+46.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.57%	16.85%	+49.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.57%	18.61%	+47.96%

Frequently Asked Questions

Can I hold both ETHA.DE and ^GSPC in my portfolio?

ETHA.DE and ^GSPC have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.