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 -31.79% vs -18.31% for BTRN. A 0.59 correlation means they provide meaningful diversification when combined. 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 -39.46% return, which is significantly lower than BTRN's -9.29% return.
ETHA
- 1D
- -5.56%
- 1M
- -23.58%
- YTD
- -39.46%
- 6M
- -42.75%
- 1Y
- -31.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTRN
- 1D
- -1.35%
- 1M
- -12.31%
- YTD
- -9.29%
- 6M
- -9.90%
- 1Y
- -18.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA vs. BTRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -39.46% | -11.31% | -3.62% |
BTRN Global X Bitcoin Trend Strategy ETF | -9.29% | 4.89% | 24.77% |
Correlation
The correlation between ETHA and BTRN is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024 | 0.59 |
The correlation between ETHA and BTRN has been stable across timeframes, ranging from 0.59 to 0.62 - 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.
| ETHA | BTRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.84 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | -0.73 | +0.22 |
| Martin ratioReturn relative to average drawdown | -0.84 | -1.25 | +0.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETHA | BTRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.47 | -0.93 | +0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | 0.00 | -0.41 |
Drawdowns
ETHA vs. BTRN - Drawdown Comparison
The maximum ETHA drawdown since its inception was -64.02%, 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 | -64.02% | -36.97% | -27.05% |
Max Drawdown (1Y)Largest decline over 1 year | -62.89% | -25.29% | -37.60% |
Current DrawdownCurrent decline from peak | -62.89% | -25.29% | -37.60% |
Average DrawdownAverage peak-to-trough decline | -32.65% | -14.41% | -18.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.73% | 14.68% | +23.05% |
Volatility
ETHA vs. BTRN - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 10.15% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 7.24%. 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 | 10.15% | 7.24% | +2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 46.25% | 10.35% | +35.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.61% | 19.91% | +48.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.53% | 30.96% | +41.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.53% | 30.96% | +41.57% |
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 30.60%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | 30.60% | 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 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (10.15%) compared to BTRN (7.24%). In terms of maximum drawdown, ETHA dropped -64.02% vs BTRN's -36.97%.
On 1-year performance, BTRN leads with -18.31% vs -31.79% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, BTRN has been the lower-risk option at 7.24%. 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 -18.31% return vs -31.79%. 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 30.60%, 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 (-0.47 vs -0.93), 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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