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 -46.93% vs -44.85% for ETH-USD. Their 0.68 correlation means they have sometimes moved together and sometimes differently.
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 -37.27% return and ETH-USD slightly higher at -36.94%.
ETHA
- 1D
- -3.03%
- 1M
- 9.41%
- 6M
- -30.24%
- YTD
- -37.27%
- 1Y
- -46.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.02%
ETH-USD
- 1D
- 1.51%
- 1M
- 6.54%
- 6M
- -17.51%
- YTD
- -36.94%
- 1Y
- -44.85%
- 3Y*
- 0.66%
- 5Y*
- -5.69%
- 10Y*
- 66.66%
- ALL TIME*
- 79.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
ETH-USD Ethereum | $18.30T | $18.49T | $25.83T |
| $448.76M | $415.35M | $407.71M |
ETHA vs. ETH-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -37.27% | -11.31% | -4.89% |
ETH-USD Ethereum | -36.94% | -10.91% | -3.22% |
Correlation
The correlation between ETHA and ETH-USD is 0.72, 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. | 0.72 |
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 0.72 - 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 | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.92 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.66 | -0.08 |
| Martin ratioReturn relative to average drawdown | -1.11 | -0.98 | -0.13 |
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Drawdowns
ETHA vs. ETH-USD - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.91%, 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 | -67.91% | -94.01% | +26.10% |
Max Drawdown (1Y)Largest decline over 1 year | -67.91% | -67.60% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -67.60% | — |
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 | -61.55% | -61.27% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -35.20% | -51.05% | +15.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.37% | 34.91% | +10.46% |
Volatility
ETHA vs. ETH-USD - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 13.47% compared to Ethereum (ETH-USD) at 11.59%. 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 | 13.47% | 11.59% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 46.10% | 43.68% | +2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.46% | 54.71% | +12.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.53% | 58.51% | +13.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.53% | 76.01% | -4.48% |
Frequently Asked Questions
ETHA and ETH-USD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (13.47%) compared to ETH-USD (11.59%). In terms of maximum drawdown, ETHA dropped -67.91% vs ETH-USD's -94.01%.
ETH-USD currently has the higher Sharpe Ratio (-0.68 vs -0.75), 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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