ETHA vs. BTRN
ETHA (iShares Ethereum Trust ETF) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds - ETHA tracks the CME CF Ether Dollar Reference Rate - New York Variant while BTRN tracks the CoinDesk Bitcoin Trend Indicator Futures Index. Both are passively managed. Over the past year, ETHA returned -46.41% vs -21.52% for BTRN. Their 0.59 correlation means they have sometimes moved together and sometimes differently. ETHA charges 0.25%/yr vs 0.95%/yr for BTRN.
Performance
ETHA vs. BTRN - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -35.44% return, which is significantly lower than BTRN's -10.16% return.
ETHA
- 1D
- 2.33%
- 1M
- 6.86%
- 6M
- -11.38%
- YTD
- -35.44%
- 1Y
- -46.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -25.83%
BTRN
- 1D
- 0.24%
- 1M
- 0.41%
- 6M
- -9.36%
- YTD
- -10.16%
- 1Y
- -21.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.42K | $4.49K | $41.71K | |
| $419.00M | $406.74M | $410.66M |
ETHA vs. BTRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -35.44% | -11.31% | -4.89% |
BTRN Global X Bitcoin Trend Strategy ETF | -10.16% | 4.89% | 23.31% |
Correlation
The correlation between ETHA and BTRN is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.59 |
The correlation between ETHA and BTRN has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.
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Return for Risk
ETHA vs. BTRN — Risk / Return Rank
ETHA
BTRN
ETHA vs. BTRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and Global X Bitcoin Trend Strategy ETF (BTRN). 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 | BTRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.75 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | -0.84 | +0.15 |
| Martin ratioReturn relative to average drawdown | -1.01 | -1.25 | +0.23 |
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Drawdowns
ETHA vs. BTRN - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.91%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for ETHA and BTRN.
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Drawdown Indicators
| ETHA | BTRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.91% | -36.97% | -30.94% |
Max Drawdown (1Y)Largest decline over 1 year | -67.91% | -25.73% | -42.18% |
Current DrawdownCurrent decline from peak | -60.43% | -26.01% | -34.42% |
Average DrawdownAverage peak-to-trough decline | -35.35% | -15.21% | -20.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.85% | 17.27% | +28.58% |
Volatility
ETHA vs. BTRN - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 11.68% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 2.69%. This indicates that ETHA's price experiences larger fluctuations and is considered to be riskier than BTRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHA | BTRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.68% | 2.69% | +8.99% |
Volatility (6M)Calculated over the trailing 6-month period | 43.78% | 9.75% | +34.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.06% | 16.55% | +50.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.34% | 29.89% | +41.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.34% | 29.89% | +41.45% |
ETHA vs. BTRN - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than BTRN's 0.95% expense ratio.
Dividends
ETHA vs. BTRN - Dividend Comparison
ETHA has not paid dividends to shareholders, while BTRN's dividend yield for the trailing twelve months is around 31.25%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | 31.25% | 27.76% | 2.56% |
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHA and BTRN have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (11.68%) compared to BTRN (2.69%). In terms of maximum drawdown, ETHA dropped -67.91% vs BTRN's -36.97%.
On 1-year performance, BTRN leads with -21.52% vs -46.41% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, BTRN has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTRN has performed better with a -21.52% return vs -46.41%. 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 BTRN.
BTRN has the higher dividend yield at 31.25%, compared with 0.00% for ETHA.
ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant, while BTRN tracks CoinDesk Bitcoin Trend Indicator Futures Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.25% for ETHA and 0.95% for BTRN.
ETHA currently has the higher Sharpe Ratio (-0.69 vs -1.31), 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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