ETHA vs. ETHU
ETHA (iShares Ethereum Trust ETF) and ETHU (Volatility Shares 2x Ether ETF) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while ETHU is a Leveraged Cryptocurrency fund actively managed by Volatility Shares. ETHA is passively managed, while ETHU is actively managed. Over the past year, ETHA returned -46.93% vs -84.69% for ETHU. Their 1.00 correlation means they have historically moved very closely together. ETHA charges 0.25%/yr vs 2.67%/yr for ETHU.
Performance
ETHA vs. ETHU - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -37.27% return, which is significantly higher than ETHU's -71.34% return.
ETHA
- 1D
- -3.03%
- 1M
- 9.41%
- 6M
- -30.24%
- YTD
- -37.27%
- 1Y
- -46.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.02%
ETHU
- 1D
- -5.80%
- 1M
- 18.05%
- 6M
- -63.03%
- YTD
- -71.34%
- 1Y
- -84.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -74.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $448.76M | $415.35M | $407.71M | |
| $89.13M | $89.49M | $94.57M |
ETHA vs. ETHU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -37.27% | -11.31% | -4.89% |
ETHU Volatility Shares 2x Ether ETF | -71.34% | -64.38% | -36.51% |
Correlation
The correlation between ETHA and ETHU is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 1.00 |
The correlation between ETHA and ETHU has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
ETHA vs. ETHU — Risk / Return Rank
ETHA
ETHU
ETHA vs. ETHU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) and Volatility Shares 2x Ether ETF (ETHU). 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 | ETHU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.88 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.92 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.11 | -1.20 | +0.09 |
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Drawdowns
ETHA vs. ETHU - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.91%, smaller than the maximum ETHU drawdown of -96.46%. Use the drawdown chart below to compare losses from any high point for ETHA and ETHU.
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Drawdown Indicators
| ETHA | ETHU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.91% | -96.46% | +28.55% |
Max Drawdown (1Y)Largest decline over 1 year | -67.91% | -93.99% | +26.08% |
Current DrawdownCurrent decline from peak | -61.55% | -95.04% | +33.49% |
Average DrawdownAverage peak-to-trough decline | -35.20% | -71.20% | +36.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.37% | 72.10% | -26.73% |
Volatility
ETHA vs. ETHU - Volatility Comparison
The current volatility for iShares Ethereum Trust ETF (ETHA) is 13.47%, while Volatility Shares 2x Ether ETF (ETHU) has a volatility of 25.68%. This indicates that ETHA experiences smaller price fluctuations and is considered to be less risky than ETHU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHA | ETHU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.47% | 25.68% | -12.21% |
Volatility (6M)Calculated over the trailing 6-month period | 46.10% | 93.31% | -47.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.46% | 135.13% | -67.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.53% | 141.18% | -69.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.53% | 141.18% | -69.65% |
ETHA vs. ETHU - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than ETHU's 2.67% expense ratio.
Dividends
ETHA vs. ETHU - Dividend Comparison
ETHA has not paid dividends to shareholders, while ETHU's dividend yield for the trailing twelve months is around 4.50%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% |
ETHU Volatility Shares 2x Ether ETF | 4.50% | 2.31% | 0.41% |
Frequently Asked Questions
With a correlation of 1.00, ETHA and ETHU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ETHU has higher volatility (25.68%) compared to ETHA (13.47%). In terms of maximum drawdown, ETHA dropped -67.91% vs ETHU's -96.46%.
On 1-year performance, ETHA leads with -46.93% vs -84.69% for ETHU. On fees, ETHA is cheaper at 0.25% per year. On volatility, ETHA has been the lower-risk option at 13.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ETHA has performed better with a -46.93% return vs -84.69%. 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 2.67% for ETHU.
ETHU has the higher dividend yield at 4.50%, compared with 0.00% for ETHA.
ETHA is categorized as Cryptocurrency, while ETHU is Leveraged Cryptocurrency. They also come from different issuers: iShares and Volatility Shares. Their fees differ too: 0.25% for ETHA and 2.67% for ETHU.
ETHU currently has the higher Sharpe Ratio (-0.64 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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