ETHA vs. ETH-USD
ETHA (iShares Ethereum Trust ETF) is Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while ETH-USD (Ethereum) is a cryptocurrency. Over the past year, ETHA returned -28.54% vs -30.82% for ETH-USD. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
ETHA vs. ETH-USD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ETHA having a -44.18% return and ETH-USD slightly higher at -43.74%.
ETHA
- 1D
- -4.13%
- 1M
- -19.59%
- YTD
- -44.18%
- 6M
- -44.16%
- 1Y
- -28.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETH-USD
- 1D
- -3.30%
- 1M
- -20.41%
- YTD
- -43.74%
- 6M
- -43.66%
- 1Y
- -30.82%
- 3Y*
- -3.82%
- 5Y*
- -3.44%
- 10Y*
- 60.88%
ETHA vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -44.18% | -11.31% | -4.89% |
ETH-USD Ethereum | -43.74% | -10.91% | -3.22% |
Correlation
The correlation between ETHA and ETH-USD is 0.71, 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 | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.68 |
The correlation between ETHA and ETH-USD has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.
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Return for Risk
ETHA vs. ETH-USD — Risk / Return Rank
ETHA
ETH-USD
ETHA vs. ETH-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and Ethereum (ETH-USD). 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 | ETH-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.97 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.46 | +0.03 |
| Martin ratioReturn relative to average drawdown | -0.71 | -0.76 | +0.05 |
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Drawdowns
ETHA vs. ETH-USD - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.56%, smaller than the maximum ETH-USD drawdown of -94.01%. Use the drawdown chart below to compare losses from any high point for ETHA and ETH-USD.
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Drawdown Indicators
| ETHA | ETH-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.56% | -94.01% | +26.45% |
Max Drawdown (1Y)Largest decline over 1 year | -67.56% | -67.53% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -79.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -94.01% | — |
Current DrawdownCurrent decline from peak | -65.78% | -65.45% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -33.64% | -50.93% | +17.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.40% | 41.14% | -0.74% |
Volatility
ETHA vs. ETH-USD - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 19.90% compared to Ethereum (ETH-USD) at 18.13%. This indicates that ETHA's price experiences larger fluctuations and is considered to be riskier than ETH-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHA | ETH-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.90% | 18.13% | +1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 47.13% | 46.20% | +0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.33% | 56.03% | +13.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.65% | 59.16% | +13.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.65% | 77.04% | -4.39% |
Frequently Asked Questions
ETHA and ETH-USD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (19.90%) compared to ETH-USD (18.13%). In terms of maximum drawdown, ETHA dropped -67.56% vs ETH-USD's -94.01%.
ETHA currently has the higher Sharpe Ratio (-0.41 vs -0.46), 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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