ETHA vs. BTCZ
ETHA (iShares Ethereum Trust ETF) and BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) are both Cryptocurrency funds. ETHA is passively managed, while BTCZ is actively managed. Over the past year, ETHA returned -28.54% vs 59.01% for BTCZ. At a correlation of -0.82, they often move in opposite directions. ETHA charges 0.25%/yr vs 0.95%/yr for BTCZ.
Performance
ETHA vs. BTCZ - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -44.18% return, which is significantly lower than BTCZ's 40.86% return.
ETHA
- 1D
- -4.13%
- 1M
- -19.59%
- YTD
- -44.18%
- 6M
- -44.16%
- 1Y
- -28.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTCZ
- 1D
- 6.37%
- 1M
- 40.52%
- YTD
- 40.86%
- 6M
- 41.38%
- 1Y
- 59.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA vs. BTCZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -44.18% | -11.31% | -4.89% |
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF | 40.86% | -29.11% | -65.48% |
Correlation
The correlation between ETHA and BTCZ is -0.88, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | -0.82 |
The correlation between ETHA and BTCZ has been stable across timeframes, ranging from -0.88 to -0.82 - a consistent structural relationship.
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Return for Risk
ETHA vs. BTCZ — Risk / Return Rank
ETHA
BTCZ
ETHA vs. BTCZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ). 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 | BTCZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.17 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 1.21 | -1.63 |
| Martin ratioReturn relative to average drawdown | -0.71 | 2.49 | -3.19 |
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Drawdowns
ETHA vs. BTCZ - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.56%, smaller than the maximum BTCZ drawdown of -91.06%. Use the drawdown chart below to compare losses from any high point for ETHA and BTCZ.
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Drawdown Indicators
| ETHA | BTCZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.56% | -91.06% | +23.50% |
Max Drawdown (1Y)Largest decline over 1 year | -67.56% | -49.02% | -18.54% |
Current DrawdownCurrent decline from peak | -65.78% | -77.28% | +11.50% |
Average DrawdownAverage peak-to-trough decline | -33.64% | -73.68% | +40.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.40% | 24.87% | +15.53% |
Volatility
ETHA vs. BTCZ - Volatility Comparison
The current volatility for iShares Ethereum Trust ETF (ETHA) is 19.90%, while T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a volatility of 26.49%. This indicates that ETHA experiences smaller price fluctuations and is considered to be less risky than BTCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHA | BTCZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.90% | 26.49% | -6.59% |
Volatility (6M)Calculated over the trailing 6-month period | 47.13% | 68.94% | -21.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.33% | 88.72% | -19.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.65% | 97.08% | -24.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.65% | 97.08% | -24.43% |
ETHA vs. BTCZ - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than BTCZ's 0.95% expense ratio.
Dividends
ETHA vs. BTCZ - Dividend Comparison
ETHA has not paid dividends to shareholders, while BTCZ's dividend yield for the trailing twelve months is around 0.01%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF | 0.01% | 0.02% | 0.08% |
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHA and BTCZ have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTCZ has higher volatility (26.49%) compared to ETHA (19.90%). In terms of maximum drawdown, ETHA dropped -67.56% vs BTCZ's -91.06%.
On 1-year performance, BTCZ leads with 59.01% vs -28.54% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, ETHA has been the lower-risk option at 19.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTCZ has performed better with a 59.01% return vs -28.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 0.95% for BTCZ.
BTCZ has the higher dividend yield at 0.01%, compared with 0.00% for ETHA.
They also come from different issuers: iShares and T-Rex. Their fees differ too: 0.25% for ETHA and 0.95% for BTCZ.
BTCZ currently has the higher Sharpe Ratio (0.67 vs -0.41), 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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