ETHA vs. AVEM

Last updated Jun 13, 2026

ETHA (iShares Ethereum Trust ETF) and AVEM (Avantis Emerging Markets Equity ETF) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while AVEM is a Emerging Markets Equities fund actively managed by Avantis. ETHA is passively managed, while AVEM is actively managed. Over the past year, ETHA returned -34.33% vs 47.18% for AVEM. At a 0.46 correlation, their price movements are largely independent. ETHA charges 0.25%/yr vs 0.33%/yr for AVEM.

Performance

ETHA vs. AVEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ethereum Trust ETF (ETHA) and Avantis Emerging Markets Equity ETF (AVEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHA achieves a -43.96% return, which is significantly lower than AVEM's 25.08% return.

ETHA

• 1D: -1.02%
• 1M: -27.59%
• YTD: -43.96%
• 6M: -45.98%
• 1Y: -34.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVEM

• 1D: 0.42%
• 1M: 1.30%
• YTD: 25.08%
• 6M: 27.86%
• 1Y: 47.18%
• 3Y*: 24.04%
• 5Y*: 9.66%
• 10Y*: —

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

ETHA vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHA iShares Ethereum Trust ETF	-43.96%	-11.31%	-4.89%
AVEM Avantis Emerging Markets Equity ETF	25.08%	34.48%	-1.89%

Correlation

The correlation between ETHA and AVEM is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.46

The correlation between ETHA and AVEM has been stable across timeframes, ranging from 0.46 to 0.51 - a consistent structural relationship.

Return for Risk

ETHA vs. AVEM — Risk / Return Rank

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

ETHA

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

AVEM

AVEM Risk / Return Rank: 77
AVEM Sharpe Ratio Rank: 78
AVEM Sortino Ratio Rank: 72
AVEM Omega Ratio Rank: 79
AVEM Calmar Ratio Rank: 77
AVEM Martin Ratio Rank: 79

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 vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and Avantis Emerging Markets Equity ETF (AVEM). 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	AVEM	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	2.15	-2.70
Sortino ratio: Return per unit of downside risk	-0.51	2.78	-3.29
Omega ratio: Gain probability vs. loss probability	0.94	1.40	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.57	3.46	-4.03
Martin ratio: Return relative to average drawdown	-0.98	13.15	-14.13

ETHA vs. AVEM - Sharpe Ratio Comparison

The current ETHA Sharpe Ratio is -0.56, which is lower than the AVEM Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of ETHA and AVEM, 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 vs. AVEM - Drawdown Comparison

The maximum ETHA drawdown since its inception was -67.56%, which is greater than AVEM's maximum drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for ETHA and AVEM.

Drawdown Indicators

	ETHA	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-67.56%	-36.05%	-31.51%
Max Drawdown (1Y) Largest decline over 1 year	-67.56%	-13.13%	-54.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.88%	—
Current Drawdown Current decline from peak	-65.65%	-3.33%	-62.32%
Average Drawdown Average peak-to-trough decline	-33.25%	-10.07%	-23.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.22%	3.45%	+35.77%

Volatility

ETHA vs. AVEM - Volatility Comparison

iShares Ethereum Trust ETF (ETHA) has a higher volatility of 17.30% compared to Avantis Emerging Markets Equity ETF (AVEM) at 10.91%. This indicates that ETHA's price experiences larger fluctuations and is considered to be riskier than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHA	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.30%	10.91%	+6.39%
Volatility (6M) Calculated over the trailing 6-month period	46.58%	18.79%	+27.79%
Volatility (1Y) Calculated over the trailing 1-year period	69.29%	21.17%	+48.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.65%	18.71%	+53.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.65%	20.76%	+51.89%

ETHA vs. AVEM - Expense Ratio Comparison

ETHA has a 0.25% expense ratio, which is lower than AVEM's 0.33% expense ratio.

Dividends

ETHA vs. AVEM - Dividend Comparison

ETHA has not paid dividends to shareholders, while AVEM's dividend yield for the trailing twelve months is around 2.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVEM Avantis Emerging Markets Equity ETF	2.59%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%
ETHA iShares Ethereum Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETHA and AVEM in my portfolio?

ETHA and AVEM have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHA or AVEM?

ETHA has higher volatility (17.30%) compared to AVEM (10.91%). In terms of maximum drawdown, ETHA dropped -67.56% vs AVEM's -36.05%.

Which ETF is better, ETHA or AVEM?

On 1-year performance, AVEM leads with 47.18% vs -34.33% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, AVEM has been the lower-risk option at 10.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHA or AVEM?

Over the 1-year period, AVEM has performed better with a 47.18% return vs -34.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHA or AVEM?

ETHA is cheaper with a 0.25% expense ratio, compared with 0.33% for AVEM.

Which ETF pays a higher dividend yield, ETHA or AVEM?

AVEM has the higher dividend yield at 2.59%, compared with 0.00% for ETHA.

What is the main difference between ETHA and AVEM?

ETHA is categorized as Cryptocurrency, while AVEM is Emerging Markets Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.25% for ETHA and 0.33% for AVEM.

Which has better risk-adjusted returns?

AVEM currently has the higher Sharpe Ratio (2.15 vs -0.56), 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.